How do you compute NOA for 2010?
Sales |
$ 8,258 |
$ 8,272 |
$ 8,828 |
Credit card revenues |
369 |
301 |
252 |
Total revenues |
8,627 |
8,573 |
9,080 |
Cost of sales and related buying and occupancy costs |
(5,328) |
(5,417) |
(5,526) |
Selling, general and administrative expenses |
|
|
|
Retail |
(2,109) |
(2,103) |
(2,130) |
Credit |
(356) |
(274) |
(177) |
Earnings before interest and income taxes |
834 |
779 |
1,247 |
Net interest expense |
(138) |
(131) |
(74) |
Earnings before income taxes |
696 |
648 |
1,173 |
Income tax expense |
(255) |
(247) |
(458) |
Net earnings |
$ 441 |
$ 401 |
$ 715 |
Assets |
|
|
Current Assets |
|
|
Cash and cash equivalents |
$ 795 |
$ 72 |
Accounts receivable, net |
2,035 |
1,942 |
Merchandise inventories |
898 |
900 |
Current deferred tax assets, net |
238 |
210 |
Prepaid expenses and other |
88 |
93 |
Total current assets |
4,054 |
3,217 |
Land, buildings and equipment, net |
2,242 |
2,221 |
Goodwill |
53 |
53 |
Other assets |
230 |
170 |
Total assets |
$ 6,579 |
$ 5,661 |
Liabilities and Shareholders' Equity |
|
|
Current liabilities |
|
|
Accounts payable |
$ 726 |
$ 563 |
Accrued salaries, wages and related benefits |
336 |
214 |
Other current liabilities |
596 |
525 |
Current portion of long-term debt |
356 |
299 |
Total current liabilities |
2,014 |
1,601 |
Long-term debt, net |
2,257 |
2,214 |
Deferred property incentives, net |
469 |
435 |
Other liabilities |
267 |
201 |
Shareholders' equity |
|
|
Common stock, no par value |
1,066 |
997 |
Retained earnings |
525 |
223 |
Accumulated other comprehensive income (loss) |
(19) |
(10) |
Total shareholders' equity |
1,572 |
1,210 |
Total liabilities and shareholders' equity |
$ 6,579 |
$ 5,661 |