Big Lots 2012 Annual Report Download - page 124
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44
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)
February 2,
2013
January 28,
2012
ASSETS
Current assets:
Cash and cash equivalents .......................................... $ 60,581 $ 68,547
Inventories ...................................................... 918,023 825,195
Deferred income taxes ............................................. 37,696 42,784
Other current assets ............................................... 74,330 70,130
Total current assets ............................................. 1,090,630 1,006,656
Property and equipment — net ......................................... 593,562 572,767
Deferred income taxes................................................ — 6,549
Goodwill .......................................................... 13,522 12,282
Other assets ........................................................ 55,912 43,056
Total assets ................................................... $ 1,753,626 $ 1,641,310
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable ................................................. $ 393,652 $ 350,117
Property, payroll, and other taxes..................................... 74,973 74,396
Accrued operating expenses......................................... 53,788 56,088
Insurance reserves ................................................ 36,861 35,159
KB bankruptcy lease obligation ...................................... 3,069 3,115
Accrued salaries and wages ......................................... 26,753 29,170
Income taxes payable.............................................. 40,538 36,775
Total current liabilities .......................................... 629,634 584,820
Long-term obligations ................................................ 171,200 65,900
Deferred income taxes................................................ 2,693 —
Deferred rent ....................................................... 73,658 59,320
Insurance reserves ................................................... 63,332 49,794
Unrecognized tax benefits ............................................. 16,335 18,681
Other liabilities...................................................... 38,632 39,562
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 57,269 shares
and 63,609 shares, respectively ................................... 1,175 1,175
Treasury shares — 60,226 shares and 53,886 shares, respectively, at cost ..... (1,677,610) (1,423,524)
Additional paid-in capital........................................... 551,845 542,160
Retained earnings ................................................. 1,896,062 1,718,941
Accumulated other comprehensive loss................................ (13,330) (15,519)
Total shareholders’ equity........................................ 758,142 823,233
Total liabilities and shareholders’ equity ............................ $ 1,753,626 $ 1,641,310