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Consolidated Balance Sheets - 4Q 2004 (Unaudited)
(All amounts in millions, except percentages)
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January 29,
2005 |
January 31,
2004 |
| ASSETS: |
| Current Assets: |
| Cash |
$868 |
$925 |
| Accounts receivable |
3,418 |
3,213 |
| Merchandise inventories |
3,120 |
3,215 |
| Supplies and prepaid expenses |
104 |
99 |
| Total Current Assets |
7,510 |
7,452 |
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| Property and Equipment – net |
6,018 |
6,174 |
| Goodwill |
260 |
262 |
| Other Intangible Assets – net |
378 |
378 |
| Other Assets |
719 |
284 |
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| Total Assets |
$14,885 |
$14,550 |
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| LIABILITIES AND SHAREHOLDERS' EQUITY: |
| Current Liabilities: |
| Short-term debt |
$1,242 |
$908 |
| Accounts payable and accrued liabilities |
2,707 |
2,613 |
| Income taxes |
352 |
362 |
| Total current liabilities |
4,301 |
3,883 |
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| Long-Term Debt |
2,637 |
3,151 |
| Deferred Income Taxes |
1,199 |
998 |
| Other Liabilities |
581 |
578 |
| Shareholders' Equity |
6,167 |
5,940 |
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| Total Liabilities and Shareholders' Equity |
$14,885 |
$14,550 |
Notes:
(1) In response to the February 7, 2005 letter from the Chief Accountant of the Security and Exchange Commission to the American Institute of Certified Public Accountants, the company reviewed its accounting for leases. Upon completion of this review and after discussion with our external auditors (KPMG), the company made cumulative non-cash adjustments at January 29, 2005 to increase property and equipment, net by approximately $65 million and accounts payable and accrued liabilities by approximately $65 million. The impact on the prior year's financial statements was not material.
(2) Due to a net decrease in minimum liability adjustments for the company's pension plans at January 29, 2005, other assets increased approximately $374 million and other comprehensive income (included in shareholders' equity) increased $230 million, net of an increase in deferred income income taxes of $144 million.
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Historical Data:
Consolidated Financial Statements:
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