Kohl's 2009 Annual Report Download - page 49

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Table of Contents


 

As of January 30, 2010, Kohl’s Corporation operated 1,058 family-oriented department stores that feature exclusive and national brand apparel,
footwear, accessories, soft home products and housewares targeted to middle-income customers. Our stores are located in 49 states.
Our authorized capital stock consists of 800 million shares of $0.01 par value common stock and 10 million shares of $0.01 par value preferred stock.

The consolidated financial statements include the accounts of Kohl’s Corporation and its subsidiaries including Kohl’s Department Stores, Inc., its
primary operating company. All intercompany accounts and transactions have been eliminated.

Our fiscal year ends on the Saturday closest to January 31. Unless otherwise noted, references to years in this report relate to fiscal years, rather than to
calendar years. Fiscal year 2009 (“2009”) ended on January 30, 2010. Fiscal year 2008 (“2008”) ended on January 31, 2009. Fiscal year 2007 (“2007”) ended
on February 2, 2008. Fiscal 2009, 2008 and 2007 were 52-week years.

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires
management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual
results could differ from those estimates.

Certain reclassifications have been made to the prior period Consolidated Balance Sheets and Statements of Cash Flows to conform to the 2009
presentation.

In addition to money market investments, cash equivalents include commercial paper with an original maturity of three months or less. We carry these
investments at cost which approximates fair value.
Also included in cash and cash equivalents are amounts due from credit card transactions with settlement terms of less than five days. Credit and debit
card receivables included within cash were $68 million at January 30, 2010 and $71 million at January 31, 2009.

Long-term investments consist primarily of investments in auction rate securities (“ARS”) which are classified as available-for-sale securities and
recorded at market.
F-7