Sears 2011 Annual Report Download - page 103

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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 $ 441 $ — $ 1,359
Intercompany receivables .......... — — 25,023 (25,023) —
Accounts receivable ............... 65 735 229 (340) 689
Merchandise inventories ........... — 8,026 925 — 8,951
Prepaid expenses and other current
assets ........................ 1 435 456 (543) 349
Current assets of discontinued
operations ..................... — — 212 — 212
Total current assets ............... 206 9,974 27,286 (25,906) 11,560
Total property and equipment, net ...... — 5,809 1,293 — 7,102
Goodwill and intangible assets ........ — 1,773 2,612 — 4,385
Other assets ....................... 19 1,229 2,686 (3,035) 899
Investment in subsidiaries ............ 21,199 25,417 — (46,616) —
Non-current assets of discontinued
operations ....................... — — 414 — 414
TOTAL ASSETS ................. $ 21,424 $ 44,202 $ 34,291 $ (75,557) $ 24,360
Current liabilities
Short-term borrowings ............. $ — $ 360 $ — $ — $ 360
Current portion of long-term debt and
capitalized lease obligations ...... — 474 15 — 489
Merchandise payables ............. — 2,566 480 — 3,046
Intercompany payables ............ 11,641 13,382 — (25,023) —
Short-term deferred tax liabilities .... — 212 — (47) 165
Other current liabilities ............ 26 2,021 3,248 (836) 4,459
Current liabilities of discontinued
operations ..................... — — 124 — 124
Total current liabilities ............. 11,667 19,015 3,867 (25,906) 8,643
Long-term debt and capitalized lease
obligations ...................... 1,246 2,841 260 (2,003) 2,344
Pension and postretirement benefits .... — 1,822 329 — 2,151
Other long-term liabilities ............ — 1,677 1,562 (1,032) 2,207
Non-current liabilities of discontinued
operations ....................... — — 401 — 401
Total Liabilities .................. 12,913 25,355 6,419 (28,941) 15,746
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 $ 44,202 $ 34,291 $ (75,557) $ 24,360
103