Big Lots 2008 Annual Report Download - page 110
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42
BIG LOTS, INC. AND SUBSIDIARIES
Consolidated Balance Sheets
(In thousands, except par value)
January 31,
2009
February 2,
2008
ASSETS
Current assets:
Cash and cash equivalents ......................................... $ 34,773 $ 37,131
Inventories ..................................................... 736,616 747,942
Deferred income taxes ............................................ 45,275 53,178
Other current assets .............................................. 54,207 52,859
Total current assets ............................................ 870,871 891,110
Property and equipment — net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 490,041 481,366
Deferred income taxes............................................... 53,763 51,524
Other assets ....................................................... 17,783 19,815
Total assets .................................................. $1,432,458 $ 1,443,815
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Current maturities under bank credit facility ........................... $ 61,700 $ —
Accounts payable ................................................ 235,973 260,272
Property, payroll, and other taxes.................................... 66,525 65,260
Accrued operating expenses........................................ 45,693 62,978
Insurance reserves ............................................... 38,303 37,762
KB bankruptcy lease obligation ..................................... 5,043 —
Accrued salaries and wages ........................................ 40,460 37,531
Income taxes payable ............................................. 21,398 36,541
Total current liabilities ......................................... 515,095 500,344
Long-term obligations under bank credit facility.......................... — 163,700
Deferred rent ...................................................... 29,192 35,955
Insurance reserves.................................................. 45,197 45,092
Unrecognized tax benefits............................................ 28,852 25,353
Other liabilities .................................................... 39,277 34,885
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 81,315 shares
and 82,682 shares, respectively .................................. 1,175 1,175
Treasury shares — 36,180 shares and 34,813 shares, respectively, at cost .... (804,561) (784,718)
Additional paid-in capital.......................................... 504,552 490,959
Retained earnings ................................................ 1,088,984 937,571
Accumulated other comprehensive income (loss) ....................... (15,305) (6,501)
Total shareholders’ equity....................................... 774,845 638,486
Total liabilities and shareholders’ equity ........................... $1,432,458 $ 1,443,815
The accompanying notes are an integral part of these consolidated financial statements.