Condensed Balance Sheet |
Condensed Consolidating Balance Sheets
|
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|
April 29, 2017 |
|
|
|
|
Guarantor |
|
Non-Guarantor |
|
Consolidating |
|
Consolidated |
(in millions) |
|
Parent |
|
Subsidiaries |
|
Subsidiaries |
|
Adjustments |
|
Company |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
468.4 |
|
|
$ |
519.1 |
|
|
$ |
167.4 |
|
|
$ |
— |
|
|
$ |
1,154.9 |
|
Short-term investments |
|
— |
|
|
— |
|
|
4.0 |
|
|
— |
|
|
4.0 |
|
Merchandise inventories, net |
|
— |
|
|
2,838.8 |
|
|
41.2 |
|
|
(1.6 |
) |
|
2,878.4 |
|
Current deferred tax assets, net |
|
— |
|
|
(8.2 |
) |
|
8.2 |
|
|
— |
|
|
— |
|
Due from intercompany, net |
|
90.2 |
|
|
1,081.6 |
|
|
18.2 |
|
|
(1,190.0 |
) |
|
— |
|
Other current assets |
|
0.7 |
|
|
234.1 |
|
|
4.3 |
|
|
1.7 |
|
|
240.8 |
|
Total current assets |
|
559.3 |
|
|
4,665.4 |
|
|
243.3 |
|
|
(1,189.9 |
) |
|
4,278.1 |
|
Property, plant and equipment, net |
|
— |
|
|
3,066.6 |
|
|
27.3 |
|
|
— |
|
|
3,093.9 |
|
Assets available for sale |
|
— |
|
|
10.6 |
|
|
— |
|
|
— |
|
|
10.6 |
|
Goodwill |
|
— |
|
|
4,993.1 |
|
|
29.3 |
|
|
— |
|
|
5,022.4 |
|
Favorable lease rights, net |
|
— |
|
|
443.4 |
|
|
— |
|
|
— |
|
|
443.4 |
|
Tradename intangible asset |
|
— |
|
|
3,100.0 |
|
|
— |
|
|
— |
|
|
3,100.0 |
|
Other intangible assets, net |
|
— |
|
|
5.0 |
|
|
— |
|
|
— |
|
|
5.0 |
|
Investment in subsidiaries |
|
8,873.4 |
|
|
105.4 |
|
|
— |
|
|
(8,978.8 |
) |
|
— |
|
Intercompany note receivable |
|
1,926.4 |
|
|
— |
|
|
188.8 |
|
|
(2,115.2 |
) |
|
— |
|
Due from intercompany, net |
|
1,215.9 |
|
|
— |
|
|
— |
|
|
(1,215.9 |
) |
|
— |
|
Other assets |
|
— |
|
|
41.1 |
|
|
3.2 |
|
|
(3.0 |
) |
|
41.3 |
|
Total assets |
|
$ |
12,575.0 |
|
|
$ |
16,430.6 |
|
|
$ |
491.9 |
|
|
$ |
(13,502.8 |
) |
|
$ |
15,994.7 |
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current portion of long-term debt |
|
$ |
165.9 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
165.9 |
|
Accounts payable |
|
— |
|
|
1,213.9 |
|
|
10.0 |
|
|
— |
|
|
1,223.9 |
|
Due to intercompany, net |
|
878.7 |
|
|
277.6 |
|
|
33.7 |
|
|
(1,190.0 |
) |
|
— |
|
Other current liabilities |
|
13.1 |
|
|
405.1 |
|
|
211.3 |
|
|
— |
|
|
629.5 |
|
Income taxes payable |
|
90.5 |
|
|
130.6 |
|
|
0.2 |
|
|
— |
|
|
221.3 |
|
Total current liabilities |
|
1,148.2 |
|
|
2,027.2 |
|
|
255.2 |
|
|
(1,190.0 |
) |
|
2,240.6 |
|
Long-term debt, net, excluding
current portion
|
|
5,815.9 |
|
|
315.8 |
|
|
— |
|
|
— |
|
|
6,131.7 |
|
Unfavorable lease rights, net |
|
— |
|
|
117.6 |
|
|
— |
|
|
— |
|
|
117.6 |
|
Deferred tax liabilities, net |
|
1.9 |
|
|
1,431.7 |
|
|
— |
|
|
— |
|
|
1,433.6 |
|
Income taxes payable, long-term |
|
— |
|
|
71.8 |
|
|
— |
|
|
— |
|
|
71.8 |
|
Due to intercompany, net |
|
— |
|
|
1,215.9 |
|
|
— |
|
|
(1,215.9 |
) |
|
— |
|
Intercompany note payable |
|
— |
|
|
2,115.2 |
|
|
— |
|
|
(2,115.2 |
) |
|
— |
|
Other liabilities |
|
— |
|
|
385.5 |
|
|
7.8 |
|
|
(2.9 |
) |
|
390.4 |
|
Total liabilities |
|
6,966.0 |
|
|
7,680.7 |
|
|
263.0 |
|
|
(4,524.0 |
) |
|
10,385.7 |
|
Shareholders' equity |
|
5,609.0 |
|
|
8,749.9 |
|
|
228.9 |
|
|
(8,978.8 |
) |
|
5,609.0 |
|
Total liabilities and equity |
|
$ |
12,575.0 |
|
|
$ |
16,430.6 |
|
|
$ |
491.9 |
|
|
$ |
(13,502.8 |
) |
|
$ |
15,994.7 |
|
Condensed Consolidating Balance Sheets (Continued)
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|
January 28, 2017 |
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|
|
Guarantor |
|
Non-Guarantor |
|
Consolidating |
|
Consolidated |
(in millions) |
|
Parent |
|
Subsidiaries |
|
Subsidiaries |
|
Adjustments |
|
Company |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
562.4 |
|
|
$ |
139.2 |
|
|
$ |
164.8 |
|
|
$ |
— |
|
|
$ |
866.4 |
|
Short-term investments |
|
— |
|
|
— |
|
|
4.0 |
|
|
— |
|
|
4.0 |
|
Merchandise inventories, net |
|
— |
|
|
2,826.3 |
|
|
41.2 |
|
|
(1.7 |
) |
|
2,865.8 |
|
Current deferred tax assets, net |
|
— |
|
|
(9.3 |
) |
|
9.3 |
|
|
— |
|
|
— |
|
Due from intercompany, net |
|
58.7 |
|
|
1,041.5 |
|
|
42.8 |
|
|
(1,143.0 |
) |
|
— |
|
Other current assets |
|
0.5 |
|
|
198.7 |
|
|
2.3 |
|
|
0.3 |
|
|
201.8 |
|
Total current assets |
|
621.6 |
|
|
4,196.4 |
|
|
264.4 |
|
|
(1,144.4 |
) |
|
3,938.0 |
|
Property, plant and equipment, net |
|
— |
|
|
3,085.3 |
|
|
30.5 |
|
|
— |
|
|
3,115.8 |
|
Assets available for sale |
|
— |
|
|
9.0 |
|
|
— |
|
|
— |
|
|
9.0 |
|
Goodwill |
|
— |
|
|
4,993.1 |
|
|
30.4 |
|
|
— |
|
|
5,023.5 |
|
Favorable lease rights, net |
|
— |
|
|
468.6 |
|
|
— |
|
|
— |
|
|
468.6 |
|
Tradename intangible asset |
|
— |
|
|
3,100.0 |
|
|
— |
|
|
— |
|
|
3,100.0 |
|
Other intangible assets, net |
|
— |
|
|
5.1 |
|
|
— |
|
|
— |
|
|
5.1 |
|
Investment in subsidiaries |
|
8,640.1 |
|
|
106.6 |
|
|
— |
|
|
(8,746.7 |
) |
|
— |
|
Intercompany note receivable |
|
1,926.4 |
|
|
— |
|
|
188.8 |
|
|
(2,115.2 |
) |
|
— |
|
Due from intercompany, net |
|
1,243.8 |
|
|
— |
|
|
— |
|
|
(1,243.8 |
) |
|
— |
|
Other assets |
|
— |
|
|
41.3 |
|
|
3.3 |
|
|
(3.0 |
) |
|
41.6 |
|
Total assets |
|
$ |
12,431.9 |
|
|
$ |
16,005.4 |
|
|
$ |
517.4 |
|
|
$ |
(13,253.1 |
) |
|
$ |
15,701.6 |
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current portion of long-term debt |
|
$ |
152.1 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
152.1 |
|
Accounts payable |
|
— |
|
|
1,105.9 |
|
|
14.7 |
|
|
(1.0 |
) |
|
1,119.6 |
|
Due to intercompany, net |
|
969.6 |
|
|
121.5 |
|
|
51.9 |
|
|
(1,143.0 |
) |
|
— |
|
Other current liabilities |
|
66.4 |
|
|
470.5 |
|
|
207.3 |
|
|
— |
|
|
744.2 |
|
Income taxes payable |
|
(1.9 |
) |
|
91.0 |
|
|
0.9 |
|
|
— |
|
|
90.0 |
|
Total current liabilities |
|
1,186.2 |
|
|
1,788.9 |
|
|
274.8 |
|
|
(1,144.0 |
) |
|
2,105.9 |
|
Long-term debt, net, excluding
current portion
|
|
5,853.9 |
|
|
315.8 |
|
|
— |
|
|
— |
|
|
6,169.7 |
|
Unfavorable lease rights, net |
|
— |
|
|
124.0 |
|
|
— |
|
|
— |
|
|
124.0 |
|
Deferred tax liabilities, net |
|
2.0 |
|
|
1,456.9 |
|
|
— |
|
|
— |
|
|
1,458.9 |
|
Income taxes payable, long-term |
|
— |
|
|
71.2 |
|
|
— |
|
|
— |
|
|
71.2 |
|
Due to intercompany, net |
|
— |
|
|
1,243.8 |
|
|
— |
|
|
(1,243.8 |
) |
|
— |
|
Intercompany note payable |
|
— |
|
|
2,115.2 |
|
|
— |
|
|
(2,115.2 |
) |
|
— |
|
Other liabilities |
|
— |
|
|
377.5 |
|
|
8.1 |
|
|
(3.2 |
) |
|
382.4 |
|
Total liabilities |
|
7,042.1 |
|
|
7,493.3 |
|
|
282.9 |
|
|
(4,506.2 |
) |
|
10,312.1 |
|
Shareholders' equity |
|
5,389.8 |
|
|
8,512.1 |
|
|
234.5 |
|
|
(8,746.9 |
) |
|
5,389.5 |
|
Total liabilities and equity |
|
$ |
12,431.9 |
|
|
$ |
16,005.4 |
|
|
$ |
517.4 |
|
|
$ |
(13,253.1 |
) |
|
$ |
15,701.6 |
|
Condensed Consolidating Balance Sheets (Continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
April 30, 2016 |
|
|
|
|
Guarantor |
|
Non-Guarantor |
|
Consolidating |
|
Consolidated |
(in millions) |
|
Parent |
|
Subsidiaries |
|
Subsidiaries |
|
Adjustments |
|
Company |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
— |
|
|
$ |
783.6 |
|
|
$ |
151.0 |
|
|
$ |
(4.9 |
) |
|
$ |
929.7 |
|
Short-term investments |
|
— |
|
|
— |
|
|
4.0 |
|
|
— |
|
|
4.0 |
|
Merchandise inventories, net |
|
— |
|
|
2,872.0 |
|
|
49.9 |
|
|
7.6 |
|
|
2,929.5 |
|
Current deferred tax assets, net |
|
— |
|
|
— |
|
|
8.1 |
|
|
(8.1 |
) |
|
— |
|
Due from intercompany, net |
|
38.8 |
|
|
505.3 |
|
|
102.8 |
|
|
(646.9 |
) |
|
— |
|
Other current assets |
|
0.4 |
|
|
313.2 |
|
|
— |
|
|
(4.7 |
) |
|
308.9 |
|
Total current assets |
|
39.2 |
|
|
4,474.1 |
|
|
315.8 |
|
|
(657.0 |
) |
|
4,172.1 |
|
Property, plant and equipment, net |
|
— |
|
|
3,114.9 |
|
|
38.3 |
|
|
— |
|
|
3,153.2 |
|
Assets available for sale |
|
— |
|
|
11.7 |
|
|
— |
|
|
— |
|
|
11.7 |
|
Goodwill |
|
— |
|
|
4,993.1 |
|
|
31.8 |
|
|
— |
|
|
5,024.9 |
|
Deferred tax assets, net |
|
0.6 |
|
|
— |
|
|
— |
|
|
(0.6 |
) |
|
— |
|
Favorable lease rights, net |
|
— |
|
|
543.9 |
|
|
— |
|
|
— |
|
|
543.9 |
|
Tradename intangible asset |
|
— |
|
|
3,100.0 |
|
|
— |
|
|
— |
|
|
3,100.0 |
|
Other intangible assets, net |
|
— |
|
|
5.4 |
|
|
0.2 |
|
|
— |
|
|
5.6 |
|
Investment in subsidiaries |
|
8,667.9 |
|
|
104.0 |
|
|
— |
|
|
(8,771.9 |
) |
|
— |
|
Intercompany note receivable |
|
1,526.4 |
|
|
— |
|
|
188.8 |
|
|
(1,715.2 |
) |
|
— |
|
Due from intercompany, net |
|
1,923.4 |
|
|
— |
|
|
— |
|
|
(1,923.4 |
) |
|
— |
|
Other assets |
|
— |
|
|
49.3 |
|
|
4.5 |
|
|
(4.3 |
) |
|
49.5 |
|
Total assets |
|
$ |
12,157.5 |
|
|
$ |
16,396.4 |
|
|
$ |
579.4 |
|
|
$ |
(13,072.4 |
) |
|
$ |
16,060.9 |
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current portion of long-term debt |
|
$ |
120.5 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
120.5 |
|
Accounts payable |
|
4.8 |
|
|
1,180.4 |
|
|
72.2 |
|
|
2.9 |
|
|
1,260.3 |
|
Due to intercompany, net |
|
402.7 |
|
|
207.7 |
|
|
36.5 |
|
|
(646.9 |
) |
|
— |
|
Other current liabilities |
|
34.6 |
|
|
387.9 |
|
|
204.7 |
|
|
(5.1 |
) |
|
622.1 |
|
Income taxes payable |
|
32.7 |
|
|
4.4 |
|
|
9.1 |
|
|
— |
|
|
46.2 |
|
Total current liabilities |
|
595.3 |
|
|
1,780.4 |
|
|
322.5 |
|
|
(649.1 |
) |
|
2,049.1 |
|
Long-term debt, net, excluding
current portion
|
|
6,892.6 |
|
|
317.2 |
|
|
— |
|
|
— |
|
|
7,209.8 |
|
Unfavorable lease rights, net |
|
— |
|
|
142.9 |
|
|
— |
|
|
— |
|
|
142.9 |
|
Deferred tax liabilities, net |
|
— |
|
|
1,574.8 |
|
|
— |
|
|
(8.6 |
) |
|
1,566.2 |
|
Income taxes payable, long-term |
|
— |
|
|
71.1 |
|
|
— |
|
|
— |
|
|
71.1 |
|
Due to intercompany, net |
|
— |
|
|
1,923.4 |
|
|
— |
|
|
(1,923.4 |
) |
|
— |
|
Intercompany note payable |
|
— |
|
|
1,715.2 |
|
|
— |
|
|
(1,715.2 |
) |
|
— |
|
Other liabilities |
|
— |
|
|
347.5 |
|
|
8.9 |
|
|
(4.2 |
) |
|
352.2 |
|
Total liabilities |
|
7,487.9 |
|
|
7,872.5 |
|
|
331.4 |
|
|
(4,300.5 |
) |
|
11,391.3 |
|
Shareholders' equity |
|
4,669.6 |
|
|
8,523.9 |
|
|
248.0 |
|
|
(8,771.9 |
) |
|
4,669.6 |
|
Total liabilities and equity |
|
$ |
12,157.5 |
|
|
$ |
16,396.4 |
|
|
$ |
579.4 |
|
|
$ |
(13,072.4 |
) |
|
$ |
16,060.9 |
|
|