Banana Republic 2005 Annual Report Download - page 40

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G A P I N C . F I N A N C I A L S 2 0 0 5
38 gap inc. 2005 annual report
CONSOLIDATED BALANCE SHEETS
($ in millions except par value, shares in thousands) January 28, 2006 January 29, 2005
Assets
Current assets
Cash and equivalents $ 2,035 $ 2,245
Short-term investments 952 817
Restricted cash 55 1,015
Merchandise inventory 1,696 1,814
Other current assets 501 413
Total current assets 5,239 6,304
Property and equipment, net of accumulated depreciation 3,246 3,376
Other assets 336 368
Total assets $ 8,821 $ 10,048
Liabilities and Shareholders’ Equity
Current liabilities
Accounts payable $ 1,132 $ 1,240
Accrued expenses and other current liabilities 725 924
Income taxes payable 85 78
Total current liabilities 1,942 2,242
Long-term liabilities:
Long-term debt 513 513
Senior convertible notes - 1,373
Lease incentives and other liabilities 941 984
Total long-term liabilities 1,454 2,870
Commitments and contingencies (see Notes D and J)
Shareholders’ Equity
Common stock $.05 par value
Authorized 2,300,000 shares; Issued
1,078,925 and 985,738
shares; Outstanding 856,986
and 860,559 shares 54 49
Additional paid-in capital 2,402 904
Retained earnings 8,133 7,181
Accumulated other comprehensive earnings 51 48
Deferred compensation (5) (8)
Treasury stock, at cost (221,939 and 125,179 shares) (5,210) (3,238)
Total shareholders’ equity 5,425 4,936
Total liabilities and shareholders’ equity $ 8,821 $ 10,048
See Notes to the Consolidated Financial Statements