The Gap 2008 Annual Report Download - page 49
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THE GAP, INC.
CONSOLIDATED BALANCE SHEETS
($ and shares in millions except par value) January 31,
2009 February 2,
2008
ASSETS
Current assets:
Cashandcashequivalents........................................................ $ 1,715 $ 1,724
Short-terminvestments .......................................................... — 177
Restrictedcash .................................................................. 41 38
Merchandise inventory ........................................................... 1,506 1,575
Other current assets ............................................................. 743 572
Total current assets .......................................................... 4,005 4,086
Propertyandequipment,net .......................................................... 2,933 3,267
Otherlong-termassets ............................................................... 626 485
Totalassets ................................................................. $ 7,564 $ 7,838
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current maturities of long-term debt .............................................. $ 50 $ 138
Accounts payable ................................................................ 975 1,006
Accrued expenses and other current liabilities ...................................... 1,076 1,259
Income taxes payable ............................................................ 57 30
Total current liabilities ....................................................... 2,158 2,433
Long-term liabilities:
Long-termdebt.................................................................. —50
Lease incentives and other long-term liabilities ..................................... 1,019 1,081
Total long-term liabilities .................................................... 1,019 1,131
Commitments and contingencies (see Notes 11 and 15)
Stockholders’ equity:
Common stock $0.05 par value
Authorized 2,300 shares; Issued 1,105 and 1,100 shares;
Outstanding 694 and 734 shares ............................................ 55 55
Additionalpaid-incapital ......................................................... 2,895 2,783
Retained earnings ............................................................... 9,947 9,223
Accumulated other comprehensive earnings ....................................... 123 125
Treasury stock, at cost (411 and 366 shares) ......................................... (8,633) (7,912)
Totalstockholders’equity .................................................... 4,387 4,274
Total liabilities and stockholders’ equity ....................................... $ 7,564 $ 7,838
See Notes to the Consolidated Financial Statements
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