Restatement - Share-based Compensation (Tables)

9 Months Ended

Nov. 02, 2013

Restatement - Share-based Compensation

Schedule of correction as associated with certain line items in the financial statements

The following tables illustrate the correction as associated with certain line items in the unaudited interim consolidated financial statements (amounts in millions):

	Consolidated Balance Sheet
	As of October 27, 2012
	(unaudited)
	As Reported			Share-based compensation Adjustment			As Restated
Merchandise inventories	$	1,076		$	2		$	1,078
Total current assets	1,387			2			1,389
Deferred income taxes	18			14			32
Total non-current assets	170			14			184
Share-based compensation	—			30			30
Income taxes payable	8			(2		)	6
Total current liabilities	987			28			1,015
Share-based compensation	—			24			24
Total long-term liabilities	3,285			24			3,309
Additional paid-in capital	61			(10		)	51
Accumulated deficit	(2,438		)	(26		)	(2,464		)
Total stockholders’ deficit	(2,371		)	(36		)	(2,407		)

	Consolidated Statements of Comprehensive Income
	Quarter Ended October 27, 2012
	(unaudited)
	As Reported		Share-based compensation Adjustment			As Restated
Cost of sales and occupancy expense	$	611	$	1		$	612
Gross Profit	403		(1		)	402
Selling, general and administrative expense	278		(1		)	277
Share-based compensation expense	—		2			2
Operating income	119		(2		)	117
Income before income taxes	56		(2		)	54
Provision for income taxes	20		(1		)	19
Net income	36		(1		)	35
Comprehensive income	36		(1		)	35

	Consolidated Statements of Comprehensive Income
	Nine Months Ended October 27, 2012
	(unaudited)
	As Reported		Share-based compensation Adjustment			As Restated
Cost of sales and occupancy expense	$	1,730	$	6		$	1,736
Gross Profit	1,154		(6		)	1,148
Selling, general and administrative expense	790		(3		)	787
Share-based compensation expense	—		9			9
Operating income	349		(12		)	337
Income before income taxes	160		(12		)	148
Provision for income taxes	58		(5		)	53
Net income	102		(7		)	95
Comprehensive income	102		(7		)	95

	Cash Flow Data
	Nine Months Ended October 27, 2012
	(unaudited)
	As Reported			Share-based compensation Adjustment		As Restated
Operating Activities:
Net income	$	102		(7	)	$	95
Share-based compensation and other	4			11		15
Merchandise inventories	(236		)	3		(233		)
Accrued liabilities and other	(11		)	(4	)	(15		)
Income taxes	(27		)	(6	)	(33		)
Net cash provided by operating activities	16			(3	)	13
Repurchase of Common Stock	(10		)	10		—
Proceeds from stock options exercised	7			(7	)	—
Net cash used in financing activities	(141		)	3		(138		)