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This excerpt taken from the SHLD 10-K filed Mar 12, 2010. Cash and Cash Equivalents Cash equivalents include all highly liquid investments with original maturities of three months or less at the date of purchase. We also include deposits in-transit from banks for payments related to third-party credit card and debit card transactions within cash equivalents. We classify cash balances which have been pledged as collateral, and for which we do not have the ability to substitute letters of credit, as restricted cash on our consolidated balance sheet. We classify outstanding checks in excess of funds on deposit within other current liabilities and reduce cash and cash equivalents when these checks clear the bank on which they were drawn. Outstanding checks in excess of funds on deposit included in other current liabilities were $116 million and $228 million at January 30, 2010 and January 31, 2009, respectively. These excerpts taken from the SHLD 10-K filed Mar 17, 2009. Cash and Cash Equivalents Cash equivalents include all highly liquid investments with original maturities of three months or less at the date of purchase. We also include within cash equivalents deposits in-transit from banks for payments related to third-party credit card and debit card transactions. We classify cash balances which have been pledged as collateral, and for which we do not have the ability to substitute letters of credit, as restricted cash on our consolidated balance sheet. We classify outstanding checks in excess of funds on deposit within other current liabilities and reduce cash and cash equivalents when these checks clear the bank on which they were drawn. Outstanding checks in excess of funds on deposit included in other current liabilities were $228 million and $405 million at January 31, 2009 and February 2, 2008, respectively. Cash and Cash Cash equivalents include all highly liquid investments with original maturities of three months or less at the date of clear the bank on which they were drawn. Outstanding checks in excess of funds on deposit included in other current liabilities were $228 million and $405 million at January 31, 2009 and February 2, 2008, respectively. This excerpt taken from the SHLD 10-Q filed Aug 29, 2008. Cash and Cash Equivalents Our cash and cash equivalents include all highly liquid investments with original maturities of three months or less at the date of purchase. Our cash and cash equivalents balances as of August 2, 2008, August 4, 2007 and February 2, 2008 are detailed in the following table.
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Table of ContentsSEARS HOLDINGS CORPORATION 13 and 26 Weeks Ended August 2, 2008 and August 4, 2007
We had cash and cash equivalents of $1.5 billion at August 2, 2008 as compared to $2.6 billion at August 4, 2007 and $1.6 billion at February 2, 2008. During the first two quarters of 2008, significant uses of cash included share repurchases of $477 million, capital expenditures of $277 million and long-term debt repayments of $179 million. These amounts were partially offset by an $812 million increase in short-term borrowings, primarily through borrowing on our $4 billion credit facility as further detailed in the “Financing Activities” section below. At various times, we have posted cash collateral for certain outstanding letters of credit and self-insurance programs. Such cash collateral is classified within cash and cash equivalents given its ready availability to us as we have the ability to substitute letters of credit at any time for this cash collateral. Credit card deposits in transit include deposits in-transit from banks for payments related to third-party credit card and debit card transactions. We classify outstanding checks in excess of funds on deposit within other current liabilities and reduce cash and cash equivalents when these checks clear the bank on which they were drawn. Outstanding checks in excess of funds on deposit were $261 million, $330 million and $405 million as of August 2, 2008, August 4, 2007 and February 2, 2008, respectively. This excerpt taken from the SHLD 10-Q filed May 30, 2008. Cash and Cash Equivalents Our cash and cash equivalents include all highly liquid investments with original maturities of three months or less at the date of purchase. Our cash and cash equivalents balances as of May 3, 2008, May 5, 2007 and February 2, 2008 are detailed in the following table.
We had cash and cash equivalents of $1.4 billion at May 3, 2008 as compared to $3.5 billion at May 5, 2007 and $1.6 billion at February 2, 2008. The $209 million net decline in cash and cash equivalents since the end of fiscal 2007 primarily reflects $517 million of cash used in operating activities, capital expenditures of $178 million and total long-term debt payments (net of new borrowings) of approximately $131 million. These amounts were partially offset by a $646 million increase in short-term borrowings, as further detailed in the “Financing Activities” section below. At various times, we have posted cash collateral for certain outstanding letters of credit and self-insurance programs. Such cash collateral is classified within cash and cash equivalents given its ready availability to us as we have the ability to substitute letters of credit at any time for this cash collateral. Credit card deposits in transit include deposits in-transit from banks for payments related to third-party credit card and debit card transactions. We classify outstanding checks in excess of funds on deposit within other current liabilities and reduce cash and cash equivalents when these checks clear the bank on which they were drawn. Outstanding checks in excess of funds on deposit were $290 million, $307 million and $405 million as of May 3, 2008, May 5, 2007 and February 2, 2008, respectively. These excerpts taken from the SHLD 10-K filed Mar 26, 2008. Cash and Cash Equivalents Cash equivalents include all highly liquid investments with original maturities of three months or less at the date of purchase. We also include within cash equivalents deposits in-transit from banks for payments related to third-party credit card and debit card transactions. We classify outstanding checks in excess of funds on deposit within other current liabilities and reduce cash and cash equivalents when these checks clear the bank on which they were drawn. Outstanding checks in excess of funds on deposit included in other current liabilities were $405 million and $353 million at February 2, 2008 and February 3, 2007, respectively. Cash and Cash Cash equivalents include all highly liquid investments with original maturities of three months or less at the date of
We provide an allowance for doubtful accounts based on both SIZE="2">Merchandise Inventories Merchandise inventories are valued at the lower of cost or market. For Kmart and Sears Domestic, markdowns and shrinkage, which significantly impact the ending inventory valuation at cost as well as resulting gross margins. The methodologies utilized by us in our application of the RIM are consistent for all periods presented. Such methodologies include the development of the cost-to-retail ratios, the groupings of homogenous classes of merchandise, the development of shrinkage and obsolescence reserves, the accounting for price changes and the computations inherent in the LIFO adjustment (where applicable). Management believes that our RIM provides an inventory valuation that reasonably approximates cost and results in carrying inventory at the lower of cost or market. 59 SEARS HOLDINGS CORPORATION ALIGN="center">Notes to Consolidated Financial Statements—(Continued)
Approximately 53% of consolidated merchandise inventories are valued using LIFO. To estimate the Effective January 27, We receive rebates and allowances from certain vendors through a This excerpt taken from the SHLD 10-Q filed Nov 30, 2007. Cash and Cash Equivalents Our cash and cash equivalents include all highly liquid investments with original maturities of three months or less at the date of purchase. Our cash and cash equivalents balances as of November 3, 2007, October 28, 2006 and February 3, 2007 are detailed in the following table.
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SEARS HOLDINGS CORPORATION 13 and 39 Weeks Ended November 3, 2007 and October 28, 2006
We had cash and cash equivalents of $1.5 billion at November 3, 2007 as compared to $2.1 billion at October 28, 2006 and $4.0 billion at February 3, 2007. The decline in domestic cash and cash equivalents from February 3, 2007 primarily reflects share repurchases made pursuant to our share repurchase program, as further discussed in the “Financing Activities” below. During the first nine months of fiscal 2007, we repurchased 16.4 million common shares at a cost of $2.4 billion. Other significant uses of cash and cash equivalents for the nine months ended November 3, 2007 included the use of cash and cash equivalents in the seasonal build up of merchandise inventories in advance of the holiday selling season (approximately $0.9 billion, net of increased merchandise payables) and to fund capital expenditures (approximately $0.4 billion). These usages of cash and cash equivalents were primarily funded by operating cash inflows and an approximate $0.4 billion increase in borrowings, net of repayments, as further detailed in the “financing activities” section. At various times, we have posted cash collateral for certain outstanding letters of credit and self-insurance programs. Such cash collateral is classified within cash and cash equivalents given its ready availability to us as we have the ability to substitute letters of credit at any time for this cash collateral. Credit card deposits in transit include deposits in-transit from banks for payments related to third-party credit card and debit card transactions. We classify outstanding checks in excess of funds on deposit within other current liabilities and reduce cash and cash equivalents when these checks clear the bank on which they were drawn. Outstanding checks in excess of funds on deposit were $351 million, $356 million and $353 million as of November 3, 2007, October 28, 2006 and February 3, 2007, respectively. This excerpt taken from the SHLD 10-Q filed Aug 30, 2007. Cash and Cash Equivalents Our cash and cash equivalents include all highly liquid investments with original maturities of three months or less at the date of purchase. Our cash and cash equivalents balances as of August 4, 2007, July 29, 2006 and February 3, 2007 are detailed in the following table.
We had cash and cash equivalents of $2.6 billion at August 4, 2007 as compared to $3.7 billion at July 29, 2006 and $4.0 billion at February 3, 2007. The decline in domestic cash and cash equivalents from February 3, 2007 primarily reflects share repurchases made pursuant to our share repurchase program as further discussed in the “Financing Activities” below. During the second quarter, we repurchased approximately 9.6 million common shares at a cost of $1.5 billion, of which 8.2 million shares were settled for $1.3 billion. A $0.2 billion payment in settlement of the 1.4 million remaining repurchased shares was made in the third quarter of fiscal 2007. Additionally, we spent $274 million on capital expenditures and made debt repayments of $304 million, net of new borrowings, during the first half of fiscal 2007. We have posted cash collateral for certain outstanding letters of credit and self-insurance programs. Such cash collateral is classified within cash and cash equivalents given its ready availability to us as we have the ability to substitute letters of credit at any time for this cash collateral.
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Table of ContentsSEARS HOLDINGS CORPORATION 13 and 26 Weeks Ended August 4, 2007 and July 29, 2006
Credit card deposits in transit include deposits in-transit from banks for payments related to third-party credit card and debit card transactions, including those generated on the Sears Card and Sears MasterCard products. We classify outstanding checks in excess of funds on deposit within other current liabilities and reduce cash and cash equivalents when these checks clear the bank on which they were drawn. Outstanding checks in excess of funds on deposit were $330 million, $441 million and $353 million as of August 4, 2007, July 29, 2006 and February 3, 2007, respectively. This excerpt taken from the SHLD 10-Q filed Jun 1, 2007. Cash and Cash Equivalents Our cash and cash equivalents include all highly liquid investments with original maturities of three months or less at the date of purchase. Our cash and cash equivalents balances as of May 5, 2007 and February 3, 2007 are detailed in the following table.
We had cash and cash equivalents of $3.4 billion at May 5, 2007 as compared to $3.2 billion at April 29, 2006 and $4.0 billion at February 3, 2007. The decline in domestic cash and cash equivalents from February 3, 2007 primarily reflects increased merchandise inventories given seasonal shifts in our inventory levels in support of the spring/summer-selling season. At Canada, the decline primarily reflects lower merchandise payables and other accrued liabilities due to seasonality. Additionally, we spent $113 million on capital expenditures and made debt repayments of $47 million, net of new borrowings, during the first quarter of fiscal 2007. We have posted cash collateral for certain outstanding letters of credit and self-insurance programs. Such cash collateral is classified within cash and cash equivalents given its ready availability to us as we have the ability to substitute letters of credit at any time for this cash collateral. Credit card deposits in transit include deposits in-transit from banks for payments related to third-party credit card and debit card transactions, including those generated on the Sears Card and Sears MasterCard products. We classify outstanding checks in excess of funds on deposit within other current liabilities and reduce cash and cash equivalents when these checks clear the bank on which they were drawn. Outstanding checks in excess of funds on deposit were $310 million and $353 million as of May 5, 2007 and February 3, 2007, respectively. This excerpt taken from the SHLD 10-K filed Mar 28, 2007. Cash and Cash Equivalents Cash equivalents include all highly liquid investments with original maturities of three months or less at the date of purchase. The Company also includes within cash equivalents deposits in-transit from banks for payments related to third-party credit card and debit card transactions. The Company classifies outstanding checks in excess of funds on deposit within other current liabilities and reduces cash and cash equivalents when these checks clear the bank on which they were drawn. Outstanding checks in excess of funds on deposit included in other current liabilities were $353 million and $444 million at February 3, 2007 and January 28, 2006, respectively. This excerpt taken from the SHLD 10-Q filed Dec 5, 2006. Cash and Cash Equivalents The Company’s cash and cash equivalents include all highly liquid investments with original maturities of three months or less at the date of purchase. The Company’s cash and cash equivalents balances as of October 28, 2006 and January 28, 2006 are detailed in the following table.
As of October 28, 2006, the Company had $2.1 billion of cash and cash equivalents as compared to $1.2 billion at October 29, 2005 and $4.4 billion at January 28, 2006. The decline in cash and cash equivalents from January 28, 2006 is attributable to increased merchandise inventories, net of trade payables ($1.7 billion), share repurchases ($793 million), debt repayments, net of new borrowings ($434 million), capital expenditures ($325 million), pension contributions ($306 million), and cash used in the acquisition of additional interests in Sears Canada ($281 million). The Company has posted cash collateral for certain outstanding letters of credit and self-insurance programs. Such cash collateral is classified within cash and cash equivalents given its ready availability to the Company as the Company has the ability to substitute letters of credit at any time for this cash collateral. Credit card deposits in transit include deposits in-transit from banks for payments related to third-party credit card and debit card transactions, including those generated on the Sears Card and Sears MasterCard products. The Company classifies outstanding checks in excess of funds on deposit within other current liabilities and reduces cash and cash equivalents when these checks clear the bank on which they were drawn. Outstanding checks in excess of funds on deposit were $356 million and $444 million as of October 28, 2006 and January 28, 2006, respectively. This excerpt taken from the SHLD 10-Q filed Sep 1, 2006. Cash and Cash Equivalents The Company’s cash and cash equivalents include all highly liquid investments with original maturities of three months or less at the date of purchase. The Company’s cash and cash equivalents balances as of July 29, 2006 and January 28, 2006 are detailed in the following table.
As of July 29, 2006, the Company had $3.7 billion of cash and cash equivalents as compared to $2.1 billion at July 30, 2005 and $4.4 billion at January 28, 2006. The decline in cash and cash equivalents from January 28, 2006 is attributable to share repurchases ($509 million), cash used in the acquisition of additional interests in Sears Canada ($278 million), capital expenditures ($173 million) and net debt repayments ($166 million), partially offset by cash generated from operations ($390 million). The Company has posted cash collateral for certain outstanding letters of credit and self-insurance programs. Such cash collateral is classified within cash and cash equivalents given its ready availability to the Company as the Company has the ability to substitute letters of credit at any time for this cash collateral. Credit card deposits in transit include deposits in-transit from banks for payments related to third-party credit card and debit card transactions, including those generated on the Sears Card and Sears MasterCard products. The Company classifies outstanding checks in excess of funds on deposit within Other current liabilities and reduces cash and cash equivalents when these checks clear the bank on which they were drawn. Outstanding checks in excess of funds on deposit were $441 million and $444 million as of July 29, 2006 and January 28, 2006, respectively. This excerpt taken from the SHLD 10-K filed Mar 17, 2006. Cash and Cash Equivalents Cash equivalents include all highly liquid investments with original maturities of three months or less at the date of purchase. The Company also includes within cash equivalents deposits in-transit from banks for payments related to third-party credit card and debit card transactions, including those generated on the Sears Card and Sears MasterCard products. The Company classifies outstanding checks in excess of funds on deposit within Other current liabilities and reduces cash and cash equivalents when these checks clear the bank on which they were drawn. Outstanding checks in excess of funds on deposit included in Other current liabilities were $444 million and $143 million at January 28, 2006 and January 26, 2005, respectively. This excerpt taken from the SHLD 10-K filed Mar 15, 2006. Cash and Cash Equivalents Cash equivalents include all highly liquid investments with original maturities of three months or less at the date of purchase. The Company also includes within cash equivalents deposits in-transit from banks for payments related to third-party credit card and debit card transactions, including those generated on the Sears Card and Sears MasterCard products. The Company classifies outstanding checks in excess of funds on deposit within Other current liabilities and reduces cash and cash equivalents when these checks clear the bank on which they were drawn. Outstanding checks in excess of funds on deposit included in Other current liabilities were $444 million and $143 million at January 28, 2006 and January 26, 2005, respectively. | EXCERPTS ON THIS PAGE: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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