IntroductionBorders Group Inc is an international Company registered in the United States with its headquarters based at Ann Arbor, Mic. It specializes in selling books, CDs, DVDs, and Magazines. The company was started in 1971 by two brothers Tom and Louis when they were still undertaking their undergraduate and graduate studies at the University of Michigan. Borders Group is the second largest international bookseller in the United States after Barnes & Noble. Over the recent period borders has been finding it very rough following the entrance of new players in the US markets. With the current economic and financial crisis clients are forced to squeeze their purchasing power in order to match into the current prevailing economic circumstances. (Answers.com,2007). Borders Group Income Statement for financial years 2005, 2006, 2007and 2008. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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The Balance sheet | Financial data in U.S. DollarsValues in Millions (Except for per share items) |
2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||
Period End Date | 01/31/2009 | 02/02/2008 | 02/03/2007 | 01/28/2006 | 01/23/2005 | ||||||||||||
Stmt Source | 10-K | 10-K | 10-K | 10-K | 10-K | ||||||||||||
Stmt Source Date | 04/01/2009 | 04/01/2009 | 04/14/2008 | 04/05/2006 | 04/08/2005 | ||||||||||||
Stmt Update Type | Updated | Reclassified | Reclassified | Updated | Updated | ||||||||||||
Assets | |||||||||||||||||
![]() | 53.6 | 58.5 | 108.6 | 81.6 | 340.2 | ||||||||||||
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![]() | 102.4 | 103.5 | 128.7 | 150.3 | 118.3 | ||||||||||||
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Total Inventory | 915.2 | 1,242.0 | 1,347.3 | 1,405.9 | 1,306.9 | ||||||||||||
Prepaid Expenses | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||
Other Current Assets, Total | 0.0 | 102.0 | 139.0 | 0.0 | 0.0 | ||||||||||||
Total Current Assets | 1,071.2 | 1,506.0 | 1,723.6 | 1,637.8 | 1,765.4 | ||||||||||||
Property/Plant/Equipment, Total – Net | 494.2 | 592.8 | 604.2 | 703.9 | 635.6 | ||||||||||||
Goodwill, Net | 0.2 | 40.5 | 40.3 | 124.5 | 128.6 | ||||||||||||
Intangibles, Net | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||
Long Term Investments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||
Note Receivable – Long Term | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||
Other Long Term Assets, Total | 43.4 | 163.4 | 245.3 | 106.0 | 99.2 | ||||||||||||
Other Assets, Total | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||
Total Assets | 1,609.0 | 2,302.7 | 2,613.4 | 2,572.2 | 2,628.8 | ||||||||||||
Liabilities and Shareholders’ Equity | |||||||||||||||||
Accounts Payable | 350.0 | 511.9 | 562.0 | 660.3 | 615.1 | ||||||||||||
Payable/Accrued | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||
Accrued Expenses | 279.8 | 321.6 | 336.9 | 293.4 | 306.4 | ||||||||||||
Notes Payable/Short Term Debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||
Current Port. of LT Debt/Capital Leases | 329.8 | 548.6 | 502.0 | 207.1 | 141.2 | ||||||||||||
Other Current Liabilities, Total | 34.1 | 85.7 | 195.0 | 150.3 | 133.3 | ||||||||||||
Total Current Liabilities | 993.7 | 1,467.8 | 1,595.9 | 1,311.1 | 1,196.0 | ||||||||||||
![]() | 6.4 | 5.4 | 5.2 | 5.4 | 55.8 | ||||||||||||
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Deferred Income Tax | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||
Minority Interest | 0.5 | 2.2 | 2.0 | 1.3 | 1.4 | ||||||||||||
Other Liabilities, Total | 345.8 | 350.4 | 368.3 | 326.6 | 286.7 | ||||||||||||
Total Liabilities | 1,346.4 | 1,825.8 | 1,971.4 | 1,644.4 | 1,539.9 | ||||||||||||
Redeemable Preferred Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||
Preferred Stock – Non Redeemable, Net | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||
Common Stock | 186.9 | 184.0 | 175.5 | 294.3 | 525.1 | ||||||||||||
Retained Earnings (Accumulated Deficit) | 63.8 | 250.5 | 438.0 | 614.5 | 539.0 | ||||||||||||
Other Equity, Total | 11.9 | 42.4 | 28.5 | 19.0 | 24.8 | ||||||||||||
Total Equity | 262.6 | 476.9 | 642.0 | 927.8 | 1,088.9 | ||||||||||||
Total Liabilities & Shareholders’ Equity | 1,609.0 | 2,302.7 | 2,613.4 | 2,572.2 | 2,628.8 | ||||||||||||
Total Common Shares Outstanding | 59.9 | 58.79 | 58.48 | 64.15 | 73.88 | ||||||||||||
Total Preferred Shares Outstanding | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
List of References
- Answers.com. (2007). Borders Group. Web.
- Thomson Reuters. (2009). Borders Group Inc (MI): Financial Statement.