Big Lots 2010 Annual Report Download - page 114
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40
The accompanying notes are an integral part of these consolidated financial statements.
BIG LOTS, INC. AND SUBSIDIARIES
Consolidated Balance Sheets
(In thousands, except par value)
January 29,
2011 January 30,
2010
ASSETS
Current assets:
Cash and cash equivalents ........................................... $ 177,539 $ 283,733
Inventories ....................................................... 762,146 731,337
Deferred income taxes .............................................. 50,252 51,012
Other current assets ................................................ 61,782 56,884
Total current assets .............................................. 1,051,719 1,122,966
Property and equipment — net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 524,906 491,256
Deferred income taxes................................................. 6,666 28,136
Restricted cash....................................................... 8,000 —
Other assets ......................................................... 28,308 27,135
Total assets .................................................... $ 1,619,599 $ 1,669,493
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable .................................................. $ 302,818 $ 309,862
Property, payroll, and other taxes...................................... 75,401 69,388
Accrued operating expenses.......................................... 53,771 52,519
Insurance reserves ................................................. 37,741 39,570
KB bankruptcy lease obligation ....................................... 3,552 4,786
Accrued salaries and wages .......................................... 43,433 47,402
Income taxes payable ............................................... 25,215 18,993
Total current liabilities ........................................... 541,931 542,520
Deferred rent ........................................................ 42,037 31,490
Insurance reserves .................................................... 46,145 44,695
Unrecognized tax benefits.............................................. 19,142 28,577
Other liabilities ...................................................... 23,551 20,799
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 73,894 shares
and 81,922 shares, respectively .................................... 1,175 1,175
Treasury shares — 43,601 shares and 35,573 shares, respectively, at cost ...... (1,079,130) (791,042)
Additional paid-in capital............................................ 523,341 515,061
Retained earnings .................................................. 1,511,877 1,289,353
Accumulated other comprehensive loss................................. (10,470) (13,135)
Total shareholders’ equity......................................... 946,793 1,001,412
Total liabilities and shareholders’ equity ............................. $ 1,619,599 $ 1,669,493