The Gap 2012 Annual Report Download - page 81

Download and view the complete annual report

Please find page 81 of the 2012 The Gap annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 98

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98

63
Reportable segment assets presented below include those assets that are directly used in, or allocable to, that segment’s
operations. Total assets for the Stores reportable segment primarily consist of merchandise inventory, the net book value
of store assets, and prepaid expenses and receivables related to store operations. Total assets for the Direct reportable
segment primarily consist of merchandise inventory, the net book value of IT and distribution center assets, and the net
book value of goodwill and intangible assets as a result of the acquisitions of Athleta and Intermix. We do not allocate
corporate assets to our operating segments. Unallocated corporate assets primarily include cash and cash equivalents,
short-term investments, the net book value of corporate property and equipment, and tax-related assets. Reportable
segment capital expenditures are direct purchases of property and equipment by that segment. Unallocated capital
expenditures primarily consist of corporate purchases of property and equipment.
Selected financial information by reportable segment and reconciliations to our consolidated totals are as follows:
Fiscal Year
($ in millions) 2012 2011 2010
Operating income:
Stores $ 1,508 $ 1,095 $ 1,666
Direct 434 343 302
Operating income $ 1,942 $ 1,438 $ 1,968
Depreciation and amortization expense:
Stores $ 496 $ 533 $ 584
Direct 63 59 64
Depreciation and amortization expense $ 559 $ 592 $ 648
Purchases of property and equipment:
Stores $ 364 $ 362 $ 391
Direct 89 70 55
Unallocated 206 116 111
Purchases of property and equipment $ 659 $ 548 $ 557
($ in millions) February 2,
2013 January 28,
2012
Segment assets:
Stores $ 3,407 $ 3,315
Direct 886 591
Unallocated 3,177 3,516
Total assets $ 7,470 $ 7,422
Long-lived assets, excluding long-term derivative financial instruments in an asset position and long-term deferred tax
assets, by geographic location are as follows:
($ in millions) February 2,
2013 January 28,
2012
U.S. (1) $ 2,488 $ 2,245
Canada 196 191
Total North America 2,684 2,436
Other regions 445 462
Total long-lived assets $ 3,129 $ 2,898
__________
(1) U.S. includes the United States and Puerto Rico.
Table of Contents