XML 27 R34.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidating Financial Information (Tables)
12 Months Ended
Feb. 02, 2013
Condensed Consolidating Financial Information  
Schedule of Supplemental Condensed Consolidating Statement of Comprehensive Income

Supplemental Condensed Consolidating Statement of Comprehensive Income

 

 

 

Fiscal Year 2012

 

 

 

Parent
Company

 

Guarantor
Subsidiaries

 

Eliminations

 

Consolidated

 

 

 

(Restated)

 

 

 

(In millions)

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

3,848

 

$

2,544

 

$

(1,984

)

$

4,408

 

Cost of sales and occupancy expense

 

2,473

 

2,154

 

(1,984

)

2,643

 

Gross profit

 

1,375

 

390

 

 

1,765

 

Selling, general, and administrative expense

 

980

 

152

 

 

1,132

 

Share-based compensation

 

12

 

3

 

 

15

 

Impairment of intangible assets

 

8

 

 

 

8

 

Related party expenses

 

13

 

 

 

13

 

Store pre-opening costs

 

4

 

1

 

 

5

 

Operating income

 

358

 

234

 

 

592

 

Interest expense

 

245

 

 

 

245

 

Refinancing costs and losses on early extinguishments of debt

 

33

 

 

 

33

 

Other (income) and expense, net

 

 

(1

)

 

(1

)

Intercompany charges (income)

 

76

 

(76

)

 

 

Equity in earnings of subsidiaries

 

311

 

 

(311

)

 

Income before income taxes

 

315

 

311

 

(311

)

315

 

Provision for income taxes

 

115

 

114

 

(114

)

115

 

Net income

 

200

 

197

 

(197

)

200

 

Comprehensive income

 

$

200

 

$

197

 

$

(197

)

$

200

 

 

(1)         As Restated — See Note 2 “Restatement Share-based Compensation” on Notes to Consolidated Financial Statements.

 

Supplemental Condensed Consolidating Statement of Comprehensive Income

 

 

 

Fiscal Year 2011

 

 

 

Parent
Company

 

Guarantor
Subsidiaries

 

Eliminations

 

Consolidated

 

 

 

(Restated)

 

 

 

(In millions)

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

3,684

 

$

2,369

 

$

(1,843

)

$

4,210

 

Cost of sales and occupancy expense

 

2,389

 

1,986

 

(1,843

)

2,532

 

Gross profit

 

1,295

 

383

 

 

1,678

 

Selling, general, and administrative expense

 

945

 

145

 

 

1,090

 

Share-based compensation

 

28

 

5

 

 

33

 

Related party expenses

 

13

 

 

 

13

 

Store pre-opening costs

 

3

 

1

 

 

4

 

Operating income

 

306

 

232

 

 

538

 

Interest expense

 

254

 

 

 

254

 

Refinancing costs and losses on early extinguishments of debt

 

18

 

 

 

18

 

Other (income) and expense, net

 

5

 

4

 

 

9

 

Intercompany charges (income)

 

73

 

(73

)

 

 

Equity in earnings of subsidiaries

 

301

 

 

(301

)

 

Income before income taxes

 

257

 

301

 

(301

)

257

 

Provision for income taxes

 

100

 

117

 

(117

)

100

 

Net income

 

$

157

 

$

184

 

$

(184

)

$

157

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income, net of tax:

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustment

 

(1

)

 

 

(1

)

Comprehensive income

 

$

156

 

$

184

 

$

(184

)

$

156

 

 

Supplemental Condensed Consolidating Statement of Comprehensive Income

 

 

 

Fiscal Year 2010

 

 

 

Parent
Company

 

Guarantor
Subsidiaries

 

Eliminations

 

Consolidated

 

 

 

(In millions)

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

3,530

 

$

2,294

 

$

(1,793

)

$

4,031

 

Cost of sales and occupancy expense

 

2,341

 

1,919

 

(1,793

)

2,467

 

Gross profit

 

1,189

 

375

 

 

1,564

 

Selling, general, and administrative expense

 

912

 

139

 

 

1,051

 

Share-based compensation

 

7

 

1

 

 

8

 

Related party expenses

 

14

 

 

 

14

 

Store pre-opening costs

 

3

 

 

 

3

 

Operating income

 

253

 

235

 

 

488

 

Interest expense

 

276

 

 

 

276

 

Refinancing costs and losses on early extinguishments of debt

 

53

 

 

 

53

 

Other (income) and expense, net

 

12

 

(2

)

 

10

 

Intercompany charges (income)

 

73

 

(73

)

 

 

Equity in earnings of subsidiaries

 

310

 

 

(310

)

 

Income before income taxes

 

149

 

310

 

(310

)

149

 

Provision for income taxes

 

46

 

107

 

(107

)

46

 

Net income

 

$

103

 

$

203

 

$

(203

)

$

103

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income, net of tax:

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustment

 

1

 

 

 

1

 

Comprehensive income

 

$

104

 

$

203

 

$

(203

)

$

104

 

Schedule of Supplemental Condensed Consolidating Balance Sheet

Supplemental Condensed Consolidating Balance Sheet

 

 

 

February 2, 2013

 

 

 

Parent Company

 

Guarantor
Subsidiaries

 

Eliminations

 

Consolidated

 

 

 

(Restated)

 

 

 

(In millions)

 

ASSETS

 

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

 

Cash and equivalents

 

$

37

 

$

19

 

$

 

$

56

 

Merchandise inventories

 

591

 

271

 

 

862

 

Intercompany receivables

 

 

329

 

(329

)

 

Other

 

105

 

21

 

 

126

 

Total current assets

 

733

 

640

 

(329

)

1,044

 

Property and equipment, net

 

271

 

67

 

 

338

 

Goodwill, net

 

94

 

 

 

94

 

Investment in subsidiaries

 

284

 

 

(284

)

 

Other assets

 

76

 

3

 

 

79

 

Total assets

 

$

1,458

 

$

710

 

$

(613

)

$

1,555

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ DEFICIT

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

 

Accounts payable

 

5

 

258

 

 

263

 

Accrued liabilities and other

 

235

 

132

 

 

367

 

Share-based Compensation

 

22

 

13

 

 

 

35

 

Current portion of long-term debt

 

150

 

 

 

150

 

Intercompany payable

 

329

 

 

(329

)

 

Other

 

36

 

5

 

 

41

 

Total current liabilities

 

777

 

408

 

(329

)

856

 

Long-term debt

 

2,891

 

 

 

2,891

 

Other long-term liabilities

 

73

 

12

 

 

85

 

Share-based Compensation

 

21

 

6

 

 

 

27

 

Total stockholders’ deficit

 

(2,304

)

284

 

(284

)

(2,304

)

Total liabilities and stockholders’ deficit

 

$

1,458

 

$

710

 

$

(613

)

$

1,555

 

 

(1)         As Restated — See Note 2 “Restatement Share-based Compensation” on Notes to Consolidated Financial Statements.

 

Supplemental Condensed Consolidating Balance Sheet

 

 

 

January 28, 2012

 

 

 

Parent Company

 

Guarantor
Subsidiaries

 

Eliminations

 

Consolidated

 

 

 

(Restated)

 

 

 

(In millions)

 

ASSETS

 

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

 

Cash and equivalents

 

$

363

 

$

8

 

$

 

$

371

 

Merchandise inventories

 

555

 

290

 

 

845

 

Intercompany receivables

 

 

470

 

(470

)

 

Other

 

103

 

20

 

 

123

 

Total current assets

 

1,021

 

788

 

(470

)

1,339

 

Property and equipment, net

 

249

 

63

 

 

312

 

Goodwill, net

 

95

 

 

 

95

 

Investment in subsidiaries

 

402

 

 

(402

)

 

Other assets

 

89

 

3

 

 

92

 

Total assets

 

$

1,856

 

$

854

 

$

(872

)

$

1,838

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ DEFICIT

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

 

Accounts payable

 

$

9

 

$

292

 

$

 

$

301

 

Accrued liabilities and other

 

256

 

133

 

 

389

 

Share-based compensation

 

16

 

9

 

 

25

 

Current portion of long-term debt

 

127

 

 

 

127

 

Intercompany payable

 

470

 

 

(470

)

 

Other

 

18

 

1

 

 

19

 

Total current liabilities

 

896

 

435

 

(470

)

861

 

Long-term debt

 

3,363

 

 

 

3,363

 

Share-based compensation

 

13

 

6

 

 

 

19

 

Other long-term liabilities

 

85

 

11

 

 

96

 

Total stockholders’ deficit

 

(2,501

)

402

 

(402

)

(2,501

)

Total liabilities and stockholders’ deficit

 

$

1,856

 

$

854

 

$

(872

)

$

1,838

 

 

Schedule of Supplemental Condensed Consolidating Statement of Cash Flows

Supplemental Condensed Consolidating Statement of Cash Flows

 

 

 

Fiscal Year 2012

 

 

 

Parent

 

Guarantor

 

 

 

 

 

 

 

Company

 

Subsidiaries

 

Eliminations

 

Consolidated

 

 

 

(Restated)
(In millions)

 

Operating activities:

 

 

 

 

 

 

 

 

 

Net cash provided by operating activities

 

$

269

 

$

453

 

$

(423

)

$

299

 

 

 

 

 

 

 

 

 

 

 

Investing activities:

 

 

 

 

 

 

 

 

 

Cash paid for property and equipment

 

(105

)

(19

)

 

(124

)

Net cash used in investing activities

 

(105

)

(19

)

 

(124

)

 

 

 

 

 

 

 

 

 

 

Financing activities:

 

 

 

 

 

 

 

 

 

Net repayments of long-term debt

 

(457

)

 

 

(457

)

Intercompany dividends

 

 

(423

)

423

 

 

Other financing activities

 

(33

)

 

 

(33

)

Net cash provided by financing activities

 

(490

)

(423

)

423

 

(490

)

 

 

 

 

 

 

 

 

 

 

Increase in cash and equivalents

 

(326

)

11

 

 

(315

)

Beginning cash and equivalents

 

363

 

8

 

 

371

 

Ending cash and equivalents

 

$

37

 

$

19

 

$

 

$

56

 

 

Supplemental Condensed Consolidating Statement of Cash Flows

 

 

 

Fiscal Year 2011

 

 

 

Parent
Company

 

Guarantor
Subsidiaries

 

Eliminations

 

Consolidated

 

 

 

(Restated)
(In millions)

 

Operating activities:

 

 

 

 

 

 

 

 

 

Net cash provided by operating activities

 

$

390

 

$

234

 

$

(215

)

$

409

 

 

 

 

 

 

 

 

 

 

 

Investing activities:

 

 

 

 

 

 

 

 

 

Cash paid for property and equipment

 

(88

)

(21

)

 

(109

)

Net cash used in investing activities

 

(88

)

(21

)

 

(109

)

 

 

 

 

 

 

 

 

 

 

Financing activities:

 

 

 

 

 

 

 

 

 

Net repayments of long-term debt

 

(227

)

 

 

(227

)

Intercompany dividends

 

 

(215

)

215

 

 

Other financing activities

 

(21

)

 

 

(21

)

Net cash provided by financing activities

 

(248

)

(215

)

215

 

(248

)

 

 

 

 

 

 

 

 

 

 

Increase in cash and equivalents

 

54

 

(2

)

 

52

 

Beginning cash and equivalents

 

309

 

10

 

 

319

 

Ending cash and equivalents

 

$

363

 

$

8

 

$

 

$

371

 

 

Supplemental Condensed Consolidating Statement of Cash Flows

 

 

 

Fiscal Year 2010

 

 

 

Parent
Company

 

Guarantor
Subsidiaries

 

Eliminations

 

Consolidated

 

 

 

(In millions)

 

Operating Activities:

 

 

 

 

 

 

 

 

 

Net cash provided by operating activities

 

$

426

 

$

301

 

$

(289

)

$

438

 

 

 

 

 

 

 

 

 

 

 

Investing Activities:

 

 

 

 

 

 

 

 

 

Cost of business acquisition

 

(2

)

 

 

(2

)

Cash paid for property and equipment

 

(69

)

(12

)

 

(81

)

Net cash used in investing activities

 

(71

)

(12

)

 

(83

)

 

 

 

 

 

 

 

 

 

 

Financing Activities:

 

 

 

 

 

 

 

 

 

Net repayments of long-term debt

 

(225

)

 

 

(225

)

Intercompany dividends

 

 

(289

)

289

 

 

Other financing activities

 

(28

)

 

 

(28

)

Net cash used in financing activities

 

(253

)

(289

)

289

 

(253

)

 

 

 

 

 

 

 

 

 

 

Increase in cash and equivalents

 

102

 

 

 

102

 

Beginning cash and equivalents

 

207

 

10

 

 

217

 

Ending cash and equivalents

 

$

309

 

$

10

 

$

 

$

319