Supplemental Balance Sheet and Cash Flow Information

9 Months Ended

12 Months Ended

Oct. 28, 2012

Jan. 29, 2012

Supplemental Balance Sheet and Cash Flow Information

NOTE 9 — SUPPLEMENTAL BALANCE SHEET AND CASH FLOW INFORMATION

Receivables

Receivables as of October 28, 2012 and January 29, 2012 consisted of the following (amounts in millions):

	October 28, 2012		January 29, 2012
Trade receivables, net of allowance for doubtful accounts	$	1,027	$	919
Vendor rebate receivables		69		71
Other receivables		9		12
Total receivables, net	$	1,105	$	1,002

Other Current Liabilities

Other current liabilities as of October 28, 2012 and January 29, 2012 consisted of the following (amounts in millions):

	October  28, 2012		January 29, 2012
Accrued interest	$	60	$	233
Accrued non-income taxes		42		31
Branch closure & consolidation reserves		12		16
Other		103		98
Total other current liabilities	$	217	$	378

Significant Non-Cash Transactions

Interest payments on the 14.875% Senior Notes are due each April 12^th and October 12^th through maturity, commencing on October 12, 2012, except that the first eleven payment periods through October 2017 shall be paid in kind (“PIK”) and therefore increase the balance of the outstanding indebtedness rather than paid in cash. The Company made PIK interest payments during the third quarter of fiscal 2012 of $56 million, increasing the outstanding principal balance of the 14.875% Senior Notes.

Interest payments on the 13.5% Senior Subordinated Notes are due each March 1^st and September 1^st through maturity except that the first eight payment periods through September 2011 were paid in kind. The Company made PIK interest payments during the nine months ended October 30, 2011 of $223 million, 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 28, 2012 and October 30, 2011 was $576 million and $340 million, respectively. Cash paid for income taxes, net of refunds, in the nine months ended October 28, 2012 and October 30, 2011 was $2 million and $4 million, respectively.

NOTE 12—SUPPLEMENTAL BALANCE SHEET AND CASH FLOW INFORMATION

Receivables

Receivables as of January 29, 2012 and January 30, 2011 consisted of the following (amounts in millions):

	January 29, 2012		January 30, 2011
Trade receivables, net of allowance for doubtful accounts	$	919	$	837
Vendor rebate receivables		71		60
Other receivables		12		10
Total receivables, net	$	1,002	$	907

Property and Equipment

Property and equipment as of January 29, 2012 and January 30, 2011 consisted of the following (amounts in millions):

	January 29, 2012			January 30, 2011
Land	$	42		$	45
Buildings and improvements		206			214
Transportation equipment		44			20
Furniture, fixtures and equipment		298			288
Capitalized software		185			177
Construction in progress		40			12
		815			756
Less accumulated depreciation & amortization		(417	)		(366	)
Property and equipment, net	$	398		$	390

Other Current Liabilities

Other current liabilities as of January 29, 2012 and January 30, 2011 consisted of the following (amounts in millions):

	January 29, 2012		January 30, 2011
Accrued interest	$	233	$	131
Accrued non-income taxes		31		28
Branch closure & consolidation reserves		16		18
Other		98		95
Total other current liabilities	$	378	$	272

Significant Non-Cash Transactions

Interest payments on the 13.5% Senior Subordinated Notes are due each March 1st and September 1st through maturity except that the first eight payment periods through September 2011 were payments in kind (“PIK”) and therefore increased the balance of the outstanding indebtedness rather than paid in cash. The Company made PIK interest payments during fiscal 2011, fiscal 2010, and fiscal 2009 of $223 million, $196 million, and $172 million, respectively, increasing the outstanding balance of the 13.5% Senior Subordinated Notes.

Supplemental Cash Flow Information

Cash paid for interest in fiscal 2011, fiscal 2010, and fiscal 2009 was approximately $356 million, $363 million, and $366 million, respectively. During 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. During fiscal 2009, the Company received a cash refund of $134 million from the Internal Revenue Service for income tax previously paid. Cash paid for income taxes, net of refunds, in fiscal 2011, fiscal 2010, and fiscal 2009 was approximately $5 million net payment, $216 million net refund, and $127 million net refund, respectively.