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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
May 02, 2020
Aug. 03, 2019
Current assets:    
Cash and cash equivalents $ 438.7 $ 323.8
Inventories 449.7 490.7
Prepaid expenses and other current assets 158.5 242.3
Current assets held for sale 25.8 0.0
Current assets related to discontinued operations 6.1 98.2
Total current assets 1,078.8 1,155.0
Property and equipment, net 517.2 835.5
Operating lease right-of-use asset 637.6 0.0
Goodwill 164.6 313.5
Other intangible assets, net 176.0 276.6
Equity method investment 53.1 42.1
Other assets 55.0 65.6
Non-current assets related to discontinued operations 0.0 11.5
Total assets 2,682.3 2,699.8
Current liabilities:    
Accounts payable 415.7 316.1
Accrued expenses and other current liabilities 191.8 273.3
Deferred income 127.8 114.1
Current portion of lease liabilities 167.7 [1],[2] 0.0
Current portion of long-term debt 1,498.3 0.0
Current liabilities related to discontinued operations 35.8 94.7
Total current liabilities 2,437.1 798.2
Long-term debt 0.0 1,338.6
Lease-related liabilities 0.0 204.6
Deferred income taxes 7.1 0.5
Long-term lease liabilities 669.3 [1],[2] 0.0
Other non-current liabilities 134.1 171.4
Non-current liabilities related to discontinued operations 5.5 35.5
Total liabilities 3,253.1 2,548.8
Commitments and contingencies (Note 18)
Shareholders’ (Deficit) Equity:    
Common stock, par value $0.01 per share; 10,046 and 9,925 shares issued and outstanding as of May 2, 2020 and August 3, 2019, respectively 0.1 0.1
Additional paid-in capital 1,105.8 1,102.5
Accumulated deficit (1,656.6) (935.9)
Accumulated other comprehensive loss (20.1) (15.7)
Total shareholders (deficit) equity (570.8) 151.0
Total liabilities and shareholders’ (deficit) equity $ 2,682.3 $ 2,699.8
[1] Although such amounts are generally non-cancelable, certain leases are cancelable if specified sales levels are not achieved or co-tenancy requirements are not being satisfied. All future minimum rentals under such leases have been included in the above table.
[2] Net of sublease income, which is not expected to be significant in any period.