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Need help on For the Sears Company, provide a brief detail of the one-time charges included in the income statement. What do these charges inform
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For the Sears Company, provide a brief detail of the one-time charges included in the income statement. What do these charges inform the reader regarding the ongoing survival of the company? Since sale of assets are included in all four of the most recent year financial statements what does this inform the reader?
\begin{tabular}{|c|c|c|c|} \hline \multicolumn{2}{|l|}{ Consolidated Balance Sheets - USD [\$] } & Jan. 28,2017 & Jan.30,2016 \\ \hline \multicolumn{4}{|l|}{ Current assets } \\ \hline Cash and cash equivalents & & $286 & $238 \\ \hline Accounts receivable & [1] & 466 & 419 \\ \hline Merchandise inventories & & 3,959 & 5,172 \\ \hline Prepaid expenses and other current assets & {[2} & 285 & 216 \\ \hline Total current assets & & 4,996 & 6,045 \\ \hline \multicolumn{4}{|l|}{ Property and equipment } \\ \hline Land & & 770 & 827 \\ \hline Buildings and improvements & & 2,954 & 3,140 \\ \hline Furniture, fixtures and equipment & & 1,133 & 1,352 \\ \hline Capital leases & & 224 & 272 \\ \hline Gross property and equipment & & 5,081 & 5,591 \\ \hline Less accumulated depreciation and amortization & & (2,841] & (2,960] \\ \hline Total property and equipment, net & & 2,240 & 2,631 \\ \hline Goodwill & & 269 & 269 \\ \hline Trade names and other intangible assets & & 1,521 & 1,909 \\ \hline Dther assets & & 336 & 483 \\ \hline TOTAL ASSETS & & 9,362 & 11,337 \\ \hline \multicolumn{4}{|l|}{ Current liabilities } \\ \hline Short-term borrowings & & 0 & 797 \\ \hline Current portion of long-term debt and capitalized lease & {[3} & 590 & 71 \\ \hline Merchandise payables & & 1,048 & 1,574 \\ \hline Other current liabilities & {[4} & 1,956 & 1,925 \\ \hline Unearned revenues & & 748 & 787 \\ \hline Other tanes & & 339 & 284 \\ \hline Total current liabilities & & 4,681 & 5,438 \\ \hline Long-term debt and capitalized lease obligations & {[5} & 3,573 & 2,108 \\ \hline Pension and postretirement benefits & & 1,750 & 2,206 \\ \hline Deferred gain on sale-leaseback & & 563 & 753 \\ \hline Sale-leaseback financing obligation & & 235 & 164 \\ \hline Other long-term liabilities & & 1,641 & 1,731 \\ \hline Long-term deferred tax liabilities & & 743 & 893 \\ \hline Total Liabilities & & 13,186 & 13,293 \\ \hline \multicolumn{4}{|l|}{ Commitments and contingencies } \\ \hline \multicolumn{4}{|l|}{ DEFICIT } \\ \hline \multicolumn{4}{|l|}{ Preferred stock, 20 shares authorized; no shares outstanding } \\ \hline \begin{tabular}{l} Common stock $0.01 par value; 500 shares authorized; 107 and \\ 107 shares outstanding, respectively \end{tabular} & & 1 & 1 \\ \hline Treasury stock-at cost & & {[5,891]} & {[5,928]} \\ \hline Capital in excess of par value & & 9,130 & 9,173 \\ \hline Retained deficit & & {[5,512]} & {[3,291]} \\ \hline Accumulated other comprehensive loss & & (1,552) & (1,918) \\ \hline Total Sears Holdings Corporation deficit & & {[3,824]} & {[1,963)} \\ \hline Noncontrolling interest & & 0 & 7 \\ \hline Total Deficit & & (3,824] & (1,956] \\ \hline TOTALL LIABELITIES A.ND DEFICIT & & $9,362 & $11,337 \\ \hline \end{tabular} Includes $81 million and $51 million at January 28,2017 and January 30,2016 , respectively, of net amounts receivable from SHO, and $14 million and $7 million of amounts receivable from Seritage Includes $9 million of prepaid rent to Seritage at January 30,2016. Includes balances held by related parties of $216 million at January 28,2017 related to our 2016 Secured Loan Facility. Includes $1 million and $1 million of net amounts payable to Lands' End at January 28,2017 and January 30,2016 , respectively, and \$11 million of amounts payable to Seritage at January 28,2017. \begin{tabular}{|c|c|c|c|} \hline \multicolumn{2}{|l|}{ Consolidated Balance Sheets - USD [\$] } & Jan. 28,2017 & Jan.30,2016 \\ \hline \multicolumn{4}{|l|}{ Current assets } \\ \hline Cash and cash equivalents & & $286 & $238 \\ \hline Accounts receivable & [1] & 466 & 419 \\ \hline Merchandise inventories & & 3,959 & 5,172 \\ \hline Prepaid expenses and other current assets & {[2} & 285 & 216 \\ \hline Total current assets & & 4,996 & 6,045 \\ \hline \multicolumn{4}{|l|}{ Property and equipment } \\ \hline Land & & 770 & 827 \\ \hline Buildings and improvements & & 2,954 & 3,140 \\ \hline Furniture, fixtures and equipment & & 1,133 & 1,352 \\ \hline Capital leases & & 224 & 272 \\ \hline Gross property and equipment & & 5,081 & 5,591 \\ \hline Less accumulated depreciation and amortization & & (2,841] & (2,960] \\ \hline Total property and equipment, net & & 2,240 & 2,631 \\ \hline Goodwill & & 269 & 269 \\ \hline Trade names and other intangible assets & & 1,521 & 1,909 \\ \hline Dther assets & & 336 & 483 \\ \hline TOTAL ASSETS & & 9,362 & 11,337 \\ \hline \multicolumn{4}{|l|}{ Current liabilities } \\ \hline Short-term borrowings & & 0 & 797 \\ \hline Current portion of long-term debt and capitalized lease & {[3} & 590 & 71 \\ \hline Merchandise payables & & 1,048 & 1,574 \\ \hline Other current liabilities & {[4} & 1,956 & 1,925 \\ \hline Unearned revenues & & 748 & 787 \\ \hline Other tanes & & 339 & 284 \\ \hline Total current liabilities & & 4,681 & 5,438 \\ \hline Long-term debt and capitalized lease obligations & {[5} & 3,573 & 2,108 \\ \hline Pension and postretirement benefits & & 1,750 & 2,206 \\ \hline Deferred gain on sale-leaseback & & 563 & 753 \\ \hline Sale-leaseback financing obligation & & 235 & 164 \\ \hline Other long-term liabilities & & 1,641 & 1,731 \\ \hline Long-term deferred tax liabilities & & 743 & 893 \\ \hline Total Liabilities & & 13,186 & 13,293 \\ \hline \multicolumn{4}{|l|}{ Commitments and contingencies } \\ \hline \multicolumn{4}{|l|}{ DEFICIT } \\ \hline \multicolumn{4}{|l|}{ Preferred stock, 20 shares authorized; no shares outstanding } \\ \hline \begin{tabular}{l} Common stock $0.01 par value; 500 shares authorized; 107 and \\ 107 shares outstanding, respectively \end{tabular} & & 1 & 1 \\ \hline Treasury stock-at cost & & {[5,891]} & {[5,928]} \\ \hline Capital in excess of par value & & 9,130 & 9,173 \\ \hline Retained deficit & & {[5,512]} & {[3,291]} \\ \hline Accumulated other comprehensive loss & & (1,552) & (1,918) \\ \hline Total Sears Holdings Corporation deficit & & {[3,824]} & {[1,963)} \\ \hline Noncontrolling interest & & 0 & 7 \\ \hline Total Deficit & & (3,824] & (1,956] \\ \hline TOTALL LIABELITIES A.ND DEFICIT & & $9,362 & $11,337 \\ \hline \end{tabular} Includes $81 million and $51 million at January 28,2017 and January 30,2016 , respectively, of net amounts receivable from SHO, and $14 million and $7 million of amounts receivable from Seritage Includes $9 million of prepaid rent to Seritage at January 30,2016. Includes balances held by related parties of $216 million at January 28,2017 related to our 2016 Secured Loan Facility. Includes $1 million and $1 million of net amounts payable to Lands' End at January 28,2017 and January 30,2016 , respectively, and \$11 million of amounts payable to Seritage at January 28,2017Step by Step Solution
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