Sears 2010 Annual Report Download - page 94

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SEARS HOLDINGS CORPORATION
Notes to Consolidated Financial Statements—(Continued)
Condensed Consolidating Balance Sheet
January 29, 2011
millions Parent
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Current assets
Cash and cash equivalents ............ $ 140 $ 778 $ 457 $ — $ 1,375
Intercompany receivables ............. — — 25,010 (25,010) —
Accounts receivable ................. 65 722 236 (340) 683
Merchandise inventories .............. — 8,026 1,097 — 9,123
Prepaid expenses and other current
assets ........................... 1 435 474 (556) 354
Total current assets .................. 206 9,961 27,274 (25,906) 11,535
Total property and equipment, net ........ — 5,809 1,556 — 7,365
Goodwill and intangible assets ........... — 1,773 2,758 — 4,531
Other assets .......................... 19 1,229 2,692 (3,103) 837
Investment in subsidiaries ............... 21,199 25,417 — (46,616) —
TOTAL ASSETS ................... $ 21,424 $ 44,189 $ 34,280 $ (75,625) $ 24,268
Current liabilities
Short-term borrowings ............... $ — $ 360 $ — $ — $ 360
Current portion of long-term debt and
capitalized lease obligations ......... — 474 35 — 509
Merchandise payables ................ — 2,566 535 — 3,101
Intercompany payables ............... 11,641 13,369 — (25,010) —
Other current liabilities ............... 26 2,233 3,285 (896) 4,648
Total current liabilities ............... 11,667 19,002 3,855 (25,906) 8,618
Long-term debt and capitalized lease
obligations ......................... 1,246 2,841 579 (2,003) 2,663
Pension and postretirement benefits ....... — 1,822 329 — 2,151
Other long-term liabilities ............... — 1,677 1,645 (1,100) 2,222
Total Liabilities ..................... 12,913 25,342 6,408 (29,009) 15,654
EQUITY
Shareholder’s equity ................... 8,511 18,847 27,872 (46,719) 8,511
Noncontrolling interest ................. — — — 103 103
Total Equity ....................... 8,511 18,847 27,872 (46,616) 8,614
TOTAL LIABILITIES AND EQUITY . . $ 21,424 $ 44,189 $ 34,280 $ (75,625) $ 24,268
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