Dillard's 2008 Annual Report Download - page 32

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2008 Compared to 2007
Depreciation and amortization expense decreased $14.6 million during fiscal 2008 compared to fiscal 2007
primarily as a result of the Company’s continued efforts to reduce capital expenditures.
2007 Compared to 2006
Depreciation and amortization expense decreased $2.2 million during fiscal 2007 compared to fiscal 2006.
This decrease was primarily due to the addition of the 53rd week of fiscal 2006.
Rentals
Fiscal
2008
Fiscal
2007
Fiscal
2006
(in thousands of dollars)
Rentals ........................................ $61,481 $59,987 $55,480
2008 Compared to 2007
Rental expense increased $1.5 million or 2.5% in fiscal 2008 compared to fiscal 2007 primarily due to the
increase of leased equipment.
2007 Compared to 2006
Rental expense increased $4.5 million or 8.1% in fiscal 2007 compared to fiscal 2006 primarily as a result
of higher equipment rent compared to the prior year partially offset by a decline in the number of leased stores.
Interest and Debt Expense, Net
Fiscal
2008
Fiscal
2007
Fiscal
2006
(in thousands of dollars)
Interest and debt expense, net ..................... $88,821 $91,556 $87,642
2008 Compared to 2007
Net interest and debt expense declined $2.7 million in fiscal 2008 compared to fiscal 2007 primarily due to
expense savings of $9.4 million attributable to a lower average interest rate and lower average debt partially
offset by lower capitalized interest of $3.7 million and lower investment income of $2.8 million.
2007 Compared to 2006
Net interest and debt expense increased $3.9 million in fiscal 2007 compared to fiscal 2006 primarily due to
an interest credit in the prior year of $10.5 million related to statute expirations and audit settlements with federal
and state tax authorities for multiple tax years. Exclusive of this interest credit, net interest and debt expense
decreased $6.6 million in fiscal 2007 compared to fiscal 2006 mainly due to lower weighted average total debt in
the current year of $1.1 billion compared to $1.2 billion in the prior year as well as an increase in capitalized
interest of $2.0 million between the same periods. These decreases were partially offset by a decrease in
investment income of $5 million in fiscal 2007 compared to fiscal 2006.
Gain on Disposal of Assets
Fiscal
2008
Fiscal
2007
Fiscal
2006
(in thousands of dollars)
Gain on disposal of assets ........................ $24,567 $12,625 $16,413
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