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GPS » Topics » Liquidity

This excerpt taken from the GPS 10-K filed Mar 28, 2008.

Liquidity

We consider the following to be measures of our liquidity and capital resources for the last three fiscal years:

 

($ in millions)    52 Weeks
Ended/As of
February 2, 2008		    53 Weeks
Ended/As of
February 3, 2007		    52 Weeks
Ended/As of
January 28, 2006

Working capital (a)

    $ 1,653    $ 2,757    $ 3,297

Current ratio (a)

      1.68:1      2.21:1      2.70:1

Net cash provided by operating activities

    $ 2,081    $ 1,250    $ 1,551

 

(a) Our working capital and current ratio calculations include restricted cash.

Our working capital and current ratio as of February 2, 2008 decreased compared with February 3, 2007 due primarily to decreases in cash, cash equivalents, short-term investments and merchandise inventory, and an increase in accounts payable.

We believe that cash flows from our operations and our existing capital resources will be adequate to satisfy our capital needs for the foreseeable future.

This excerpt taken from the GPS 10-Q filed Dec 12, 2007.

Liquidity

We consider the following to be measures of our liquidity for each of the periods presented:

 

     November 3,
2007		    October 28,
2006

Working capital ($ in millions) (a)

    $ 2,147    $ 2,690

Current ratio (a)

      1.79:1      1.93:1

 

(a)

Our working capital and current ratio calculations include restricted cash.

Our working capital and current ratio as of November 3, 2007 decreased over October 28, 2006 due to decreases in cash and cash equivalents, short-term investments and merchandise inventory, offset by a payment of $326 million related to our notes payable that matured in September 2007.

We are committed to maintaining sufficient cash to support the needs of our business and to withstand unanticipated business volatility; therefore, we plan to keep approximately $1.2 billion of cash on our balance sheet. We will continue to evaluate and evolve our $1.2 billion cash balance target over time to reflect the changing needs of our business.

This excerpt taken from the GPS 10-Q filed Sep 12, 2007.

Liquidity

We consider the following to be measures of our liquidity for each of the periods presented:

 

     August 4,
2007		    July 29,
2006

Working capital ($ in millions) (a)

    $ 2,865    $ 3,192

Current ratio (a)

      2.13:1      2.43:1
(a) Our working capital and current ratio calculations include restricted cash.

Working capital and current ratio as of August 4, 2007 decreased over July 29, 2006 primarily due to the reclassification of the current portion of our long-term debt of $326 million to current liabilities.

This excerpt taken from the GPS 10-Q filed Jun 12, 2007.

Liquidity

We consider the following to be measures of our liquidity for each of the periods presented:

 

      May 5, 2007    February 3, 2007    April 29, 2006

Working capital ($ in millions) (a)

    $ 3,013    $ 2,757    $ 3,168

Current ratio (a)

      2.33:1      2.21:1      2.45:1
(a) Our working capital and current ratio calculations include restricted cash.

Working capital and current ratio as of May 5, 2007 decreased over April 29, 2006 primarily due the reclassification of the current portion of our long-term debt of $326 million to current liabilities.

This excerpt taken from the GPS 10-K filed Apr 2, 2007.

Liquidity

We consider the following to be measures of our liquidity and capital resources for the last three fiscal years:

 

($ in millions)

    February 3, 2007    January 28, 2006    January 29, 2005

Working capital (a)

    $ 2,757    $ 3,297    $ 4,062

Current ratio (a)

      2.21:1      2.70:1      2.81:1

Net cash provided by operating activities

    $ 1,250    $ 1,551    $ 1,597

 

(a) Our working capital and current ratio calculations include restricted cash.

Working capital and current ratio as of February 3, 2007 decreased compared with January 28, 2006 due primarily to lower short-term investments and the reclassification of the current portion of our long-term debt to current liabilities, offset by higher inventory as a result of an increase in stores and square footage. Our short-term investments decreased as a result of our share repurchases and capital expenditures, offset by cash from operating activities.

 

23

Table of Contents
This excerpt taken from the GPS 10-Q filed Dec 1, 2006.

Liquidity

The following sets forth certain measures of our liquidity:

 

     Oct. 28,
2006		    Jan. 28,
2006		    Oct. 29,
2005

Working capital ($ in millions) (a)

    $ 2,690    $ 3,297    $ 3,191

Current ratio (a)

      1.93:1      2.70:1      2.43:1

 

(a) Our working capital and current ratio calculations include restricted cash.

Working capital and current ratio as of October 28, 2006 decreased compared to January 28, 2006 due primarily to lower cash balances, higher accounts payable as a result of timing differences in our payment terms, additional accruals associated with increased marketing activities and other initiatives, and the reclassification of the current portion of our long-term debt to current liabilities, offset by higher inventory as a result of the seasonal nature of our business. Working capital and current ratio as of October 28, 2006 decreased compared to October 29, 2005 due primarily to higher accounts payable and the reclassification of the current portion of our long-term debt to current liabilities.

This excerpt taken from the GPS 10-K filed Mar 28, 2006.

Liquidity

The following sets forth certain measures of our liquidity:

 

($ in millions)

    January 28, 2006    January 29, 2005    January 31, 2004

Working capital (a)

    $ 3,297    $ 4,062    $ 4,156

Current ratio (a)

      2.70:1      2.81:1      2.63:1
(a) Our working capital and current ratio calculations include restricted cash.
This excerpt taken from the GPS 10-K filed Mar 28, 2005.

Liquidity

 

The following sets forth certain measures of our liquidity:

 

     52 Weeks Ended
Jan. 29, 2005
    52 Weeks Ended
Jan. 31, 2004
    52 Weeks Ended
Feb. 1, 2003

Working capital (in millions) (a)

    $ 4,062    $ 4,156    $ 2,972

Current ratio (a)

      2.81:1      2.63:1      2.08:1
(a) Our working capital and current ratio calculations include restricted cash.

 

 

28

GAP INC. FINANCIALS 2004

 

EXCERPTS ON THIS PAGE:

10-K
Mar 28, 2008
10-Q
Dec 12, 2007
10-Q
Sep 12, 2007
10-Q
Jun 12, 2007
10-K
Apr 2, 2007
10-Q
Dec 1, 2006
10-K
Mar 28, 2006
10-K
Mar 28, 2005

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