Big Lots 2007 Annual Report Download - page 130
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42
BIG LOTS, INC. AND SUBSIDIARIES
Consolidated Balance Sheets
(In thousands, except par value)
February 2,
2008
February 3,
2007
ASSETS
Current assets:
Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 37,131 $ 281,657
Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 747,942 758,185
Deferred income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53,178 60,292
Other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52,859 48,913
Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 891,110 1,149,047
Property and equipment — net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 481,366 505,647
Deferred income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51,524 45,057
Other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,815 20,775
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,443,815 $ 1,720,526
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable .................................................. $ 260,272 $ 193,996
Property, payroll, and other taxes ...................................... 65,260 93,706
Accrued operating expenses .......................................... 62,978 58,815
Insurance reserves ................................................. 37,762 43,518
KB bankruptcy lease obligation ....................................... — 12,660
Accrued salaries and wages .......................................... 37,531 43,515
Income taxes payable ............................................... 36,541 28,022
Total current liabilities .......................................... 500,344 474,232
Long-term obligations ................................................ 163,700 —
Deferred rent ....................................................... 35,955 37,801
Insurance reserves ................................................... 45,092 44,238
Unrecognized tax benefits............................................. 25,353 —
Other liabilities ..................................................... 34,885 34,552
Shareholders’ equity:
Preferred shares — authorized 2,000 shares; $0.01 par value; none issued...... — —
Common shares — authorized 298,000 shares; $0.01 par value;
issued 117,495 shares; outstanding 82,682 shares
and 109,633 shares, respectively ................................... 1,175 1,175
Treasury shares — 34,813 shares and 7,862 shares, respectively, at cost ....... (784,718) (124,182)
Additional paid-in capital ............................................ 490,959 477,318
Retained earnings .................................................. 937,571 781,325
Accumulated other comprehensive income (loss) ......................... (6,501) (5,933)
Total shareholders' equity ........................................ 638,486 1,129,703
Total liabilities and shareholders' equity ............................ $1,443,815 $ 1,720,526
The accompanying notes are an integral part of these consolidated financial statements.