Sears 2010 Annual Report Download - page 50

SEARS HOLDINGS CORPORATION
Consolidated Balance Sheets
millions, except per share data
January 29,
2011
January 30,
2010
ASSETS
Current assets
Cash and cash equivalents ..................................................... $ 1,375 $ 1,689
Restricted cash .............................................................. 15 11
Accounts receivable .......................................................... 683 652
Merchandise inventories ....................................................... 9,123 8,705
Prepaid expenses and other current assets ......................................... 312 351
Deferred income taxes ........................................................ 27 30
Total current assets ........................................................... 11,535 11,438
Property and equipment
Land .......................................................................... 2,055 2,059
Buildings and improvements ....................................................... 6,343 6,193
Furniture, fixtures and equipment .................................................... 2,918 2,766
Capital leases ................................................................... 399 374
Gross property and equipment .................................................. 11,715 11,392
Less accumulated depreciation .................................................. (4,350) (3,683)
Total property and equipment, net ............................................... 7,365 7,709
Goodwill ....................................................................... 1,392 1,392
Trade names and other intangible assets .............................................. 3,139 3,208
Other assets ..................................................................... 837 1,061
TOTAL ASSETS ........................................................... $24,268 $24,808
LIABILITIES
Current liabilities
Short-term borrowings ........................................................ $ 360 $ 325
Current portion of long-term debt and capitalized lease obligations ..................... 509 482
Merchandise payables ......................................................... 3,101 3,335
Other current liabilities ........................................................ 3,115 3,098
Unearned revenues ........................................................... 976 1,012
Other taxes ................................................................. 557 534
Total current liabilities ........................................................ 8,618 8,786
Long-term debt and capitalized lease obligations ....................................... 2,663 1,698
Pension and postretirement benefits .................................................. 2,151 2,271
Other long-term liabilities .......................................................... 2,222 2,618
Total Liabilities .............................................................. 15,654 15,373
EQUITY
Sears Holdings Corporation equity
Preferred stock, 20 shares authorized; no shares outstanding .......................... — —
Common stock $0.01 par value; 500 shares authorized; 109 and 115 shares outstanding,
respectively ............................................................... 1 1
Treasury stock – at cost ....................................................... (5,826) (5,446)
Capital in excess of par value ................................................... 10,185 10,465
Retained earnings ............................................................ 4,930 4,797
Accumulated other comprehensive loss ........................................... (779) (721)
Total Sears Holdings Corporation equity .......................................... 8,511 9,096
Noncontrolling interest ............................................................ 103 339
Total Equity ............................................................ 8,614 9,435
TOTAL LIABILITIES AND EQUITY ......................................... $24,268 $24,808
See accompanying Notes to Consolidated Financial Statements.
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