Sears 2012 Annual Report Download - page 107

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SEARS HOLDINGS CORPORATION
Notes to Consolidated Financial Statements—(Continued)
107
Condensed Consolidating Balance Sheet
February 2, 2013
millions Parent Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Current assets
Cash and cash equivalents . . . . . . . . . $ — $ 320 $ 289 $ — $ 609
Intercompany receivables. . . . . . . . . . — — 25,553 (25,553) —
Accounts receivable . . . . . . . . . . . . . . — 506 129 — 635
Merchandise inventories. . . . . . . . . . . — 6,709 849 — 7,558
Prepaid expenses and other current
assets . . . . . . . . . . . . . . . . . . . . . . . . 92 970 461 (1,060) 463
Total current assets . . . . . . . . . . . . . . . 92 8,505 27,281 (26,613) 9,265
Total property and equipment, net. . . . . . . — 4,412 1,641 — 6,053
Goodwill and intangible assets . . . . . . . . . — 968 2,292 — 3,260
Other assets . . . . . . . . . . . . . . . . . . . . . . . . 17 223 3,147 (2,625) 762
Investment in subsidiaries . . . . . . . . . . . . . 16,413 24,988 — (41,401) —
TOTAL ASSETS. . . . . . . . . . . . . $ 16,522 $ 39,096 $ 34,361 $ (70,639) $ 19,340
Current liabilities
Short-term borrowings . . . . . . . . . . . . $ — $ 1,094 $ — $ — $ 1,094
Current portion of long-term debt and
capitalized lease obligations . . . . . . — 66 17 — 83
Merchandise payables. . . . . . . . . . . . . — 2,392 369 — 2,761
Intercompany payables. . . . . . . . . . . . 12,594 12,959 — (25,553) —
Short-term deferred tax liabilities. . . . 3 412 — (33) 382
Other current liabilities. . . . . . . . . . . . 26 2,640 2,455 (1,027) 4,094
Total current liabilities . . . . . . . . . . . . 12,623 19,563 2,841 (26,613) 8,414
Long-term debt and capitalized lease
obligations . . . . . . . . . . . . . . . . . . . . . . . 1,237 3,081 135 (2,510) 1,943
Pension and postretirement benefits . . . . . — 2,310 420 — 2,730
Long-term deferred tax liabilities . . . . . . . — — 914 41 955
Other long-term liabilities . . . . . . . . . . . . . — 861 1,513 (248) 2,126
Total Liabilities. . . . . . . . . . . . . . . . . . 13,860 25,815 5,823 (29,330) 16,168
EQUITY
Shareholder’s equity . . . . . . . . . . . . . . . . . 2,662 13,281 28,538 (41,726) 2,755
Noncontrolling interest . . . . . . . . . . . . . . . — — — 417 417
Total Equity . . . . . . . . . . . . . . . . . . . . 2,662 13,281 28,538 (41,309) 3,172
TOTAL LIABILITIES AND
EQUITY . . . . . . . . . . . . . . . . . . . . . $ 16,522 $ 39,096 $ 34,361 $ (70,639) $ 19,340