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Consolidated Balance Sheets - USD ($)
$ in Millions
Jan. 28, 2017
Jan. 30, 2016
Current Assets:    
Cash and cash equivalents $ 566 $ 680
Accounts and other receivables 255 225
Merchandise inventories 2,476 2,270
Prepaid expenses and other current assets 92 113
Total current assets 3,389 3,288
Property and equipment, net 3,067 3,163
Goodwill 64 64
Deferred tax assets 129 96
Restricted cash 54 52
Other assets 205 247
Total Assets 6,908 6,910
Current Liabilities:    
Accounts payable 1,695 1,699
Accrued expenses and other current liabilities 897 994
Income taxes payable 27 32
Current portion of long-term debt 119 73 [1]
Total current liabilities 2,738 2,798
Long-term debt [2] 4,642 4,612 [1]
Deferred tax liabilities 75 64
Deferred rent liabilities 342 345
Other non-current liabilities 271 245
Temporary Equity 132 111
Stockholders’ Deficit:    
Common stock (par value $0.001 and $0.001; shares authorized 65,000,000 and 60,000,000; shares outstanding 49,353,943 and 49,347,672 at January 28, 2017 and January 30, 2016, respectively) 0 0
Treasury stock 0 0
Additional paid-in capital 72 67
Accumulated deficit (1,124) (1,062)
Accumulated other comprehensive loss (240) (270)
Total Stockholders’ Deficit (1,292) (1,265)
Total Liabilities, Temporary Equity and Stockholders’ Deficit $ 6,908 $ 6,910
[1] In accordance with the retrospective adoption of ASU 2015-03 and ASU 2015-15, we have revised the presentation of the carrying amounts of individual debt liabilities as of January 30, 2016. For further details, refer to Note 1 entitled “SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES.”
[2] We maintain derivative instruments on certain of our long-term debt, which impact our effective interest rates. Refer to Note 3 entitled “DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES” for further details.