Sears 2012 Annual Report Download - page 108

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SEARS HOLDINGS CORPORATION
Notes to Consolidated Financial Statements—(Continued)
108
Condensed Consolidating Balance Sheet
January 28, 2012
millions Parent Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Current assets
Cash and cash equivalents . . . . . . . . . $ — $ 336 $ 411 $ — $ 747
Intercompany receivables. . . . . . . . . . — — 25,129 (25,129) —
Accounts receivable . . . . . . . . . . . . . . — 486 209 — 695
Merchandise inventories. . . . . . . . . . . — 7,590 817 — 8,407
Prepaid expenses and other current
assets . . . . . . . . . . . . . . . . . . . . . . . . 42 760 458 (865) 395
Total current assets . . . . . . . . . . . . . . . 42 9,172 27,024 (25,994) 10,244
Total property and equipment, net. . . . . . . — 4,837 1,740 — 6,577
Goodwill and intangible assets . . . . . . . . . — 1,178 2,600 — 3,778
Other assets . . . . . . . . . . . . . . . . . . . . . . . . 22 190 2,589 (2,019) 782
Investment in subsidiaries . . . . . . . . . . . . . 17,332 25,648 — (42,980) —
TOTAL ASSETS. . . . . . . . . . . . . $ 17,396 $ 41,025 $ 33,953 $ (70,993) $ 21,381
Current liabilities
Short-term borrowings . . . . . . . . . . . . $ — $ 1,175 $ — $ — $ 1,175
Current portion of long-term debt and
capitalized lease obligations . . . . . . — 213 17 — 230
Merchandise payables. . . . . . . . . . . . . — 2,476 436 — 2,912
Intercompany payables. . . . . . . . . . . . 11,844 13,285 — (25,129) —
Short-term deferred tax liabilities. . . . 5 541 — (30) 516
Other current liabilities. . . . . . . . . . . . 29 2,856 2,329 (835) 4,379
Total current liabilities . . . . . . . . . . . . 11,878 20,546 2,782 (25,994) 9,212
Long-term debt and capitalized lease
obligations . . . . . . . . . . . . . . . . . . . . . . . 1,237 2,396 240 (1,785) 2,088
Pension and postretirement benefits . . . . . — 2,283 455 — 2,738
Long-term deferred tax liabilities . . . . . . . — 5 817 (6) 816
Other long-term liabilities . . . . . . . . . . . . . — 900 1,514 (228) 2,186
Total Liabilities. . . . . . . . . . . . . . . . . . 13,115 26,130 5,808 (28,013) 17,040
EQUITY
Shareholder’s equity . . . . . . . . . . . . . . . . . 4,281 14,895 28,145 (43,040) 4,281
Noncontrolling interest . . . . . . . . . . . . . . . — — — 60 60
Total Equity . . . . . . . . . . . . . . . . . . . . 4,281 14,895 28,145 (42,980) 4,341
TOTAL LIABILITIES AND
EQUITY . . . . . . . . . . . . . . . . . . . . . $ 17,396 $ 41,025 $ 33,953 $ (70,993) $ 21,381