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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jul. 29, 2017
Jan. 28, 2017
Jul. 30, 2016
Current assets      
Cash and cash equivalents $ 212 $ 286 $ 276
Restricted cash 230 0 0
Accounts receivable [1] 370 466 390
Merchandise inventories 3,433 3,959 4,684
Prepaid expenses and other current assets [2] 318 285 275
Total current assets 4,563 4,996 5,625
Property and equipment (net of accumulated depreciation and amortization of $2,676, $3,032 and $2,841) 1,969 2,240 2,465
Goodwill 269 269 269
Trade names and other intangible assets 1,249 1,521 1,906
Other assets 301 336 349
TOTAL ASSETS 8,351 9,362 10,614
Current liabilities      
Short-term borrowings [3] 546 0 164
Current portion of long-term debt and capitalized lease obligations [4] 1,052 590 550
Merchandise payables 670 1,048 1,345
Other current liabilities [5] 1,686 1,956 1,802
Unearned revenues 704 748 775
Other taxes 302 339 317
Total current liabilities 4,960 4,681 4,953
Long-term debt and capitalized lease obligations [6] 2,405 3,573 2,837
Pension and postretirement benefits 1,731 1,750 2,072
Deferred gain on sale-leaseback 455 563 686
Sale-leaseback financing obligation 230 235 164
Other long-term liabilities 1,578 1,641 1,703
Long-term deferred tax liabilities 643 743 892
Total Liabilities 12,002 13,186 13,307
Commitments and contingencies
DEFICIT      
Total Deficit (3,651) (3,824) (2,693)
TOTAL LIABILITIES AND DEFICIT $ 8,351 $ 9,362 $ 10,614
[1] Includes $25 million, $35 million and $81 million of net amounts receivable from SHO, and $4 million, $9 million and $14 million of amounts receivable from Seritage at July 29, 2017, July 30, 2016 and January 28, 2017, respectively. Also includes $1 million of net amounts receivable from Lands' End at July 29, 2017.
[2] Includes $9 million of prepaid rent to Seritage at July 30, 2016.
[3] Includes balances held by related parties of $245 million and $100 million at July 29, 2017 and July 30, 2016, respectively, related to our Line of Credit Loans (as defined in Note 2) and commercial paper.
[4] Includes balances held by related parties of $131 million, $216 million and $216 million at July 29, 2017, July 30, 2016 and January 28, 2017, respectively, related to our 2016 Secured Loan Facility.
[5] Includes $1 million of net amounts payable to Lands' End at January 28, 2017, and $24 million and $11 million of amounts payable to Seritage at July 29, 2017 and January 28, 2017, respectively.
[6] Includes balances held by related parties of $1.6 billion, $874 million and $1.7 billion at July 29, 2017, July 30, 2016 and January 28, 2017, respectively, related to our Senior Secured Notes, Subsidiary Notes, Senior Unsecured Notes, Second Lien Term Loan, 2016 Term Loan and 2017 Secured Loan Facility. See Note 11 for further information.