NOTE 11 – SUPPLEMENTAL BALANCE SHEET AND CASH FLOW INFORMATION

Receivables

Receivables as of October 30, 2011 and January 30, 2011 consisted of the following (amounts in millions):


	October 30, 2011		January 30, 2011
Trade receivables, net of allowance for doubtful accounts	$	1,021	$	837
Vendor rebate receivables		63		60
Other receivables		45		10

Total receivables, net	$	1,129	$	907

Other Current Liabilities

Other current liabilities as of October 30, 2011 and January 30, 2011 consisted of the following (amounts in millions):


	October 30, 2011		January 30, 2011
Accrued interest	$	98	$	131
Accrued non-income taxes		46		28
Branch closure & consolidation reserves		14		18
Other		97		95

Total other current liabilities	$	255	$	272

Significant Non-Cash Transactions

Interest payments on the 13.5% Senior Subordinated Notes are due each March and September 1st through maturity except that the first eight payment periods through September 2011 were paid in kind (“PIK”) and therefore increased the balance of the outstanding indebtedness rather than paid in cash. The Company made PIK interest payments during the third quarters of fiscal 2011 and fiscal 2010 of $115 million and $101 million, respectively, increasing the outstanding balance of the 13.5% Senior Subordinated Notes. The Company made PIK interest payments during the nine months ended October 30, 2011 and October 31, 2010 of $223 million and $196 million, respectively, increasing the outstanding balance of the 13.5% Senior Subordinated Notes.

Supplemental Cash Flow Information

Cash paid for interest in the nine months ended October 30, 2011 and October 31, 2010 was $340 million and $349 million, respectively. During the first quarter of fiscal 2010, as a result of recent tax legislation regarding net operating loss carry-back periods, the Company filed for and received a cash refund of $220 million from the Internal Revenue Service for income tax previously paid. This cash receipt is reflected in the Consolidated Statement of Cash Flows as a change in other current assets. Cash paid or received for income taxes, net of refunds, in the nine months ended October 30, 2011 and October 31, 2010 was approximately $4 million net payments and $214 million net refunds, respectively.