Sears 2009 Annual Report Download - page 53

SEARS HOLDINGS CORPORATION
Consolidated Balance Sheets
millions, except per share data
January 30,
2010
January 31,
2009
ASSETS
Current assets
Cash and cash equivalents ..................................................... $ 1,689 $ 1,173
Restricted cash .............................................................. 11 124
Accounts receivable .......................................................... 652 839
Merchandise inventories ....................................................... 8,705 8,795
Prepaid expenses and other current assets ......................................... 351 458
Deferred income taxes ........................................................ 30 27
Total current assets ........................................................... 11,438 11,416
Property and equipment
Land .......................................................................... 2,059 2,056
Buildings and improvements ....................................................... 6,193 6,040
Furniture, fixtures and equipment .................................................... 2,766 2,518
Capital leases ................................................................... 374 345
Gross property and equipment .................................................. 11,392 10,959
Less accumulated depreciation .................................................. (3,683) (2,868)
Total property and equipment, net ............................................... 7,709 8,091
Goodwill ....................................................................... 1,392 1,392
Trade names and other intangible assets .............................................. 3,208 3,283
Other assets ..................................................................... 1,061 1,160
TOTAL ASSETS ........................................................... $24,808 $25,342
LIABILITIES
Current liabilities
Short-term borrowings ........................................................ $ 325 $ 442
Current portion of long-term debt and capitalized lease obligations ..................... 482 345
Merchandise payables ......................................................... 3,335 3,006
Other current liabilities ........................................................ 3,098 3,226
Unearned revenues ........................................................... 1,012 1,069
Other taxes ................................................................. 534 424
Total current liabilities ........................................................ 8,786 8,512
Long-term debt and capitalized lease obligations ....................................... 1,698 2,132
Pension and postretirement benefits .................................................. 2,271 2,057
Other long-term liabilities .......................................................... 2,618 2,942
Total Liabilities .............................................................. 15,373 15,643
EQUITY
Sears Holdings Corporation equity
Preferred stock, 20 shares authorized; no shares outstanding .......................... — —
Common stock $0.01 par value; 500 shares authorized; 115 and 122 shares outstanding,
respectively ............................................................... 1 1
Treasury stock—at cost ....................................................... (5,446) (5,012)
Capital in excess of par value ................................................... 10,465 10,441
Retained earnings ............................................................ 4,797 4,562
Accumulated other comprehensive income (loss) ................................... (721) (612)
Total Sears Holdings Corporation equity .......................................... 9,096 9,380
Noncontrolling interest ............................................................ 339 319
Total Equity ............................................................ 9,435 9,699
TOTAL LIABILITIES AND EQUITY ......................................... $24,808 $25,342
See accompanying Notes to Consolidated Financial Statements.
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