Sears 2014 Annual Report Download - page 120

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SEARS HOLDINGS CORPORATION
Notes to Consolidated Financial Statements—(Continued)
120
Condensed Consolidating Balance Sheet
January 31, 2015
millions Parent Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Current assets
Cash and cash equivalents . . . . . . . . . . $ — $ 219 $ 31 $ — $ 250
Intercompany receivables. . . . . . . . . . . — — 26,291 (26,291) —
Accounts receivable . . . . . . . . . . . . . . . — 390 39 — 429
Merchandise inventories. . . . . . . . . . . . — 4,943 — — 4,943
Prepaid expenses and other current
assets . . . . . . . . . . . . . . . . . . . . . . . . . 38 797 274 (868) 241
Total current assets . . . . . . . . . . . . . . . . 38 6,349 26,635 (27,159) 5,863
Total property and equipment, net. . . . . . . . — 3,524 925 — 4,449
Goodwill and intangible assets . . . . . . . . . . — 277 2,089 — 2,366
Other assets . . . . . . . . . . . . . . . . . . . . . . . . . 13 494 2,763 (2,739) 531
Investment in subsidiaries . . . . . . . . . . . . . . 11,700 25,350 — (37,050) —
TOTAL ASSETS. . . . . . . . . . . . . . $ 11,751 $ 35,994 $ 32,412 $ (66,948) $ 13,209
Current liabilities
Short-term borrowings . . . . . . . . . . . . . $ — $ 615 $ — $ — $ 615
Current portion of long-term debt and
capitalized lease obligations . . . . . . . — 72 3 — 75
Merchandise payables. . . . . . . . . . . . . . — 1,621 — — 1,621
Intercompany payables. . . . . . . . . . . . . 11,103 15,188 — (26,291) —
Short-term deferred tax liabilities. . . . . 3 485 — (8) 480
Other current liabilities. . . . . . . . . . . . . 34 2,395 1,716 (860) 3,285
Total current liabilities . . . . . . . . . . . . . 11,140 20,376 1,719 (27,159) 6,076
Long-term debt and capitalized lease
obligations . . . . . . . . . . . . . . . . . . . . . . . . 1,590 3,736 40 (2,256) 3,110
Pension and postretirement benefits . . . . . . — 2,400 4 — 2,404
Long-term deferred tax liabilities . . . . . . . . 56 — 981 (322) 715
Other long-term liabilities . . . . . . . . . . . . . . — 889 1,205 (245) 1,849
Total Liabilities. . . . . . . . . . . . . . . . . . . 12,786 27,401 3,949 (29,982) 14,154
EQUITY (DEFICIT)
Shareholder’s equity (deficit) . . . . . . . . . . . (1,035) 8,593 28,463 (36,972)(951)
Noncontrolling interest . . . . . . . . . . . . . . . . — — — 6 6
Total Equity (Deficit) . . . . . . . . . . . . . . (1,035) 8,593 28,463 (36,966)(945)
TOTAL LIABILITIES AND EQUITY
(DEFICIT). . . . . . . . . . . . . . . . . . . . . $ 11,751 $ 35,994 $ 32,412 $ (66,948) $ 13,209