Banana Republic 2014 Annual Report Download - page 46

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34
THE GAP, INC.
CONSOLIDATED BALANCE SHEETS
($ and shares in millions except par value) January 31,
2015 February 1,
2014
ASSETS
Current assets:
Cash and cash equivalents $ 1,515 $ 1,510
Merchandise inventory 1,889 1,928
Other current assets 913 992
Total current assets 4,317 4,430
Property and equipment, net 2,773 2,758
Other long-term assets 600 661
Total assets $ 7,690 $ 7,849
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current maturities of debt $ 21 $ 25
Accounts payable 1,173 1,242
Accrued expenses and other current liabilities 1,020 1,142
Income taxes payable 20 36
Total current liabilities 2,234 2,445
Long-term liabilities:
Long-term debt 1,332 1,369
Lease incentives and other long-term liabilities 1,141 973
Total long-term liabilities 2,473 2,342
Commitments and contingencies (see Notes 12 and 16)
Stockholders' equity:
Common stock $0.05 par value
Authorized 2,300 shares for all periods presented; Issued 421
and 1,106 shares; Outstanding 421 and 446 shares 21 55
Additional paid-in capital — 2,899
Retained earnings 2,797 14,218
Accumulated other comprehensive income 165 135
Treasury stock at cost (0 and 660 shares) — (14,245)
Total stockholders' equity 2,983 3,062
Total liabilities and stockholders' equity $ 7,690 $ 7,849
See Accompanying Notes to Consolidated Financial Statements