Dillard's 2013 Annual Report Download - page 32

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26
Depreciation and Amortization
(in thousands of dollars) Fiscal 2013 Fiscal 2012 Fiscal 2011
Depreciation and amortization:
Retail operations segment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 255,240 $ 259,414 $ 257,504
Construction segment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 250 207 181
Total depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 255,490 $ 259,621 $ 257,685
2013 Compared to 2012
Depreciation and amortization expense decreased $4.1 million during fiscal 2013 compared to fiscal 2012, primarily as a
result of reduced capital expenditures.
2012 Compared to 2011
Depreciation and amortization expense increased $1.9 million during fiscal 2012 compared to fiscal 2011.
Rentals
(in thousands of dollars) Fiscal 2013 Fiscal 2012 Fiscal 2011
Rentals:
Retail operations segment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 26,787 $ 34,787 $ 48,058
Construction segment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46 51 52
Total rentals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 26,833 $ 34,838 $ 48,110
2013 Compared to 2012
Rental expense declined $8.0 million or 23.0% in fiscal 2013 compared to fiscal 2012 primarily due to a reduction in the
amount of equipment leased by the Company.
2012 Compared to 2011
Rental expense declined $13.3 million or 27.6% in fiscal 2012 compared to fiscal 2011 primarily due to a reduction in the
amount of equipment leased by the Company.
Interest and Debt Expense, Net
(in thousands of dollars) Fiscal 2013 Fiscal 2012 Fiscal 2011
Interest and debt expense (income), net:
Retail operations segment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 64,572 $ 69,719 $ 72,218
Construction segment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (67)(123)(159)
Total interest and debt expense, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 64,505 $ 69,596 $ 72,059
2013 Compared to 2012
Net interest and debt expense declined $5.1 million in fiscal 2013 compared to fiscal 2012 primarily due to lower average
debt levels and a decrease of interest resulting from the 53rd week of fiscal 2012. Total weighted average debt outstanding
during fiscal 2013 decreased approximately $23.0 million compared to fiscal 2012, which included an increase in weighted
average short-term debt under the credit facility.
2012 Compared to 2011
Net interest and debt expense declined $2.5 million in fiscal 2012 compared to fiscal 2011 primarily due to lower average
debt levels partially offset by increased credit facility fees as well as an increase of interest resulting from the 53rd week of