Staples 2013 Annual Report Download - page 148
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STAPLES, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (continued)
C-17
During the fourth quarter of 2013, the Company classified certain assets and liabilities of one of its business units as a
disposal group and accounted for the group as held-for-sale in the consolidated balance sheet as of February 1, 2014. The results
of operations for this business unit have not been material to the Company's consolidated results of operations nor to its segment
reporting, and therefore this business has not been presented as a discontinued operation in the Company's consolidated financial
statements. Given the Company expects to complete the sale within one year, the Company has presented the assets and liabilities
of this disposal group within Prepaid expenses and other current assets and Accrued expenses and other current liabilities,
respectively, on the consolidated balance sheet. The following table shows the carrying amounts of the major classes of the assets
and liabilities included in the disposal group held for sale as of February 1, 2014 (in thousands):
February 1, 2014
ASSETS
Cash and cash equivalents $ 7,868
Receivables, net 3,375
Merchandise inventories, net 6,123
Prepaid expenses and other current assets 1,398
Goodwill 11,163
Intangible assets, net of accumulated amortization 743
Property and equipment, net 4,058
Total assets $ 34,728
LIABILITIES
Accounts payable $ 815
Accrued expenses and other current liabilities 883
Other long-term obligations 50
Total liabilities $ 1,748
Note E — Accrued Expenses and Other Current Liabilities
The major components of Accrued expenses and other current liabilities are as follows (in thousands):
February 1, 2014 February 2, 2013
Taxes $ 232,676 $ 288,264
Employee related 321,736 351,910
Acquisition and restructuring reserves 100,425 127,758
Advertising and marketing 109,213 97,992
Other 502,924 539,828
Total $ 1,266,974 $ 1,405,752