Foot Locker 2011 Annual Report Download - page 68

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FOOT LOCKER, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
6. Other Current Assets
2011 2010
(in millions)
Net receivables $ 49 $ 41
Prepaid income taxes 36 18
Prepaid expenses and other current assets 33 31
Prepaid rent 27 27
Deferred taxes and costs 13 13
Income tax receivable 1 47
Fair value of derivative contracts — 2
$159 $179
7. Property and Equipment, Net
2011 2010
(in millions)
Land $3 $3
Buildings:
Owned 31 31
Furniture, fixtures and equipment:
Owned 799 778
833 812
Less: accumulated depreciation (615) (624)
218 188
Alterations to leased and owned buildings
Cost 729 713
Less: accumulated amortization (520) (515)
209 198
$ 427 $ 386
8. Goodwill
The Athletic Stores segment’s goodwill is net of accumulated impairment charges of $167 million for all
periods presented. The 2011 and 2010 annual goodwill impairment tests did not result in an impairment
charge as the fair value of each reporting unit exceeded the carrying values of each respective
reporting unit.
Athletic
Stores
Direct-to-
Customers Total
(in millions)
Goodwill at January 30, 2010 $ 18 $127 $145
Foreign currency translation adjustment — — —
Goodwill at January 29, 2011 18 127 145
Foreign currency translation adjustment (1) — (1)
Goodwill at January 28, 2012 $ 17 $127 $144
48