Foot Locker, Inc.s consolidated financial statements in Appendix B at the end of this book report a

Question:

Foot Locker, Inc.’s consolidated in Appendix B at the end of this book report a number of liabilities. Show amounts in thousands.
1. The current liability section of Foot Locker, Inc.’s Consolidated as of February 2, 2008 (the end of fiscal 2007) lists accrued and other liabilities totaling $268 million. Find the details of this total in the Notes to Consolidated What are the four principal items comprising this total? (Challenge)
2. Refer to Note 15 of the Notes to Consolidated Long-Term Debt and Obligations under Capital Leases. Why do you think the company has combined these two totals? Summarize the contents of this section of the as of the end of the fiscal 2007 year, as well as the changes that have occurred during fiscal 2007. When do the company’s long-term liabilities of $221 million mature? (Challenge)
3. How would you rate Foot Locker, Inc.’s overall debt position at the end of fiscal 2007 risky, safe, or average? Compute the ratios that enable you to answer this question. (Challenge)
4. Access Foot Locker, Inc.’s most recent from its Web site (www.footlocker.com). You will find a link called about us under the customer service section of the website, which will lead you to the latest filed with the SEC. What has happened to Foot Locker, Inc.’s debt position since the end of fiscal 2007? Why?

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