Foot Locker 2010 Annual Report Download - page 64
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5. Merchandise Inventories
2010 2009
(in millions)
LIFO inventories ......................................... $ 694 $ 682
FIFO inventories ......................................... 365 355
Total merchandise inventories ................................ $1,059 $1,037
The value of the Company’s LIFO inventories, as calculated on a LIFO basis, approximates their value as
calculated on a FIFO basis.
6. Other Current Assets
2010 2009
(in millions)
Income tax receivable...................................... $ 47 $ 5
Net receivables .......................................... 41 37
Prepaid expenses and other current assets ........................ 31 33
Prepaid rent ............................................ 27 28
Prepaid income taxes ...................................... 18 25
Deferred taxes and costs .................................... 13 17
Fair value of derivative contracts .............................. 2 1
$179 $146
7. Property and Equipment, Net
2010 2009
(in millions)
Land ................................................. $ 3 $ 3
Buildings:
Owned .............................................. 31 31
Furniture, fixtures and equipment:
Owned .............................................. 778 792
812 826
Less: accumulated depreciation.............................. (624) (641)
188 185
Alterations to leased and owned buildings
Cost ................................................ 713 701
Less: accumulated amortization ............................. (515) (499)
198 202
$ 386 $ 387
8. Goodwill Athletic
Stores(1) Direct-to-
Customers Total
(in millions)
Goodwill at January 31, 2009 ................... $17 $127 $144
Foreign currency translation adjustment ........... 1 — 1
Goodwill at January 30, 2010 ................... 18 127 145
Foreign currency translation adjustment ........... — — —
Goodwill at January 29, 2011 ................... $18 $127 $145
(1) The Athletic Stores segment’s goodwill is net of accumulated impairment charges of $167 million for all periods presented.
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