how would you analyze the consolidated balance sheets of this company and the numbers presented ? im a bit lost on how to go about it
6. CASH, CASH EQUIVALENTS, AND SHORT-TERM INVESTMENTS Cash and ash equivalents consist of the following: March 20, thousands of Canada A Math 2019 3020 Cash Restricted cash Cash equivalents Cash and cash equivalents 48.955 1,212 70,306 120.473 39466 1,593 231 41.290 Restricted cash represents cash pledged as collateral for letter of credit obligations issued to support the Company's par chases of offshore merchandise As at March 28, 2020, the Company held no short-term investments (March 30, 2019-387.2 millon). Short-term lovest- ments consist of guaranteed Investment securities with an original maturity date greater than 90 days and remaining term to maturity of less than or equal to 365 days from the date of acquisition. These investments are non-redeemable until the matu rity date, and therefore they are demified separately from cush and cush equivalents. 7. INVENTORIES The cost of inventories recognized as an expense was $550.0 million in fiscal 2020 (2019 - 5616.4 million). Inventories consist of the landed cost of goods sold and exclude Inventory shrink and damage reserves, and all vendor support programs The amount of inventory write-downs as a result of net realizable value lower than cost was $10.2 million in fiscal 2020 (2019 - $11.2 million). The amount of inventory with net realisable value equal to cost was $4.4 million as at March 28. 2020 (March 30, 2019 - 54.2 million). 8. DERIVATIVE FINANCIAL INSTRUMENTS The Company uses derivative financial instuments, such as foreign exchange forward contracts, to manage the currency fluc tuation risk associated with forecasted U.S. dollar payments, primarily for general merchandise Inventory purchases. These contracts have been designated as cash flow hedges for accounting purposes. There is an economic relationship between the bedged items and the hedging instruments as the terms of the foreign exchange forward contract match the terms of the expected highly probable forecast transactions (i.e., notional amount and expected payment date). Furthermore, the Company has established hedge ratio of lil for the hedging relationships as the underlying risk of the foreign exchange forward con tracts are identical to the hedged risk components. The fair values of derivative financial instruments are determined based on observable market information as well val. utions determined by external valuators with experience in financial markets. During the fiscal year ended March 28, 2020, the Company entered into forward contract with total notional amounts of C$118.8 million to purchase U.S. dollar/Canadian dollar currency pair forwards (March 30, 2019-C153.1 million). As at March 28, 2020, the Company had remaining contracts in place representing a total motional amount of C$66.2 million (March 30, 2019-C566.9 million) at an average forward rate of 1.32 (March 30, 2019 -1.31). These contracts extend over period not exceeding 12 months. There were no forecast transactions for which hedges secounting had been wed in the pre- vious period, but which were no longer expected to occur, or hedging relationship discontinued and restarted during the ended March 28, 2020, well in the prior year. The total fair value of the contractat March 28, 2020 resulted in the recognition of a derivative niet of 3.8 million (Merch 30, 2019-51.1 million), and no derivative liability (March 2, 2019 - no derivative liability During the focal year ended March 28, 2020, the Company had net gains (set of taxes) from the change in fair value of outstanding anh flow hedges of $2.5 million (2019 - net gains (net of taxes) of $2.4 million). During the same period, the 54 Consolidated Financial Statements and Notes Consolidated Balance Sheets March 2 Aast March 30 2019 120,473 41,290 87.150 10,543 252,541 5,802 488 7,640 241,812 6,062 138 3,794 2,320 382,239 446 91.215 382,146 24,571 2,353 1,070 853 399,732 125,906 32,527 4,359 47,940 610,464 882,970 mands of Canadian ASSETS Current Cash and cash equivalents triche 63 Short-term Investments to 60 Accounts receivable Inventories Prepaid expenses Income taxes receivable Derivative assets trote 80 Other assets tot 123 Total current assets Loan receivable trete 12 Property, plant, and equipment, net trots 5 and 9 Right-of-use assets, net notes 4, 5 and 109 Intangible assets, niet tot 5 und 11) Equity Investment, net trots 5 and 12) Deferred tax assets and 130 Total assets LIABILITIES AND EQUITY Current Accounts payable and accrued liabilities for 4 und 22) Unredeemed gift card liability Provisions not 16 and 22 Deferred revenue Short-term lease liabilities no 4.10 and 223 Total current liabilities Long-term accrued liabilities tres me 223 Long-term provisions tot 14) Long-term lease liabilities (roles 4 and 101 Total liabilities Equity Share capitale 16 Contributed surplus de 171 Retained earnings (deficit) 4) Accumulated other comprehensive income note 8 Total equity Total liabilities and equity 179,180 48,729 60 7.636 164,294 51,673 2,034 10,682 68,402 297,085 1,196 469 500,215 798,965 235,605 4,698 45 240,348 226,986 12,822 (158,801) 2,998 84,005 882,970 225,531 12,716 131311 558 370.116 610,464 On behalf of the Board Cleather Reisman son Heather Reisman Director Anne Marie O'Donovan Director Annual Report 2020 35
