Dillard's 2015 Annual Report Download - page 20

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14
ITEM 6. SELECTED FINANCIAL DATA.
The selected financial data set forth below should be read in conjunction with our "Management's Discussion and
Analysis of Financial Condition and Results of Operations", our consolidated audited financial statements and notes thereto and
the other information contained elsewhere in this report.
(Dollars in thousands, except per share data) 2015 2014 2013 2012* 2011
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 6,595,626 $ 6,621,054 $ 6,531,647 $ 6,593,169 $ 6,263,600
Percent change . . . . . . . . . . . . . . . . . . . . . . . — % 1% (1)% 5% 2%
Cost of sales . . . . . . . . . . . . . . . . . . . . . . . . . . 4,350,805 4,272,605 4,223,715 4,247,108 4,047,269
Percent of sales. . . . . . . . . . . . . . . . . . . . . . . 66.0 % 64.5% 64.7 % 64.4% 64.6%
Interest and debt expense, net. . . . . . . . . . . . . 60,923 61,306 64,505 69,596 72,059
Income before income taxes and income on
and equity in losses of joint ventures . . . . . . 408,784 510,768 496,224 479,750 396,669
Income taxes (benefit) . . . . . . . . . . . . . . . . . . 140,770 179,480 173,400 145,060 (62,518)
Income on and equity in losses of joint
ventures. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,356 565 847 1,272 4,722
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . 269,370 331,853 323,671 335,962 463,909
Net income per diluted common share . . . . . . 6.91 7.79 7.10 6.87 8.52
Dividends per common share . . . . . . . . . . . . . 0.26 0.24 0.22 5.20 0.19
Book value per common share . . . . . . . . . . . . 49.98 49.02 45.33 41.24 41.50
Average number of diluted shares
outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . 39,004,500 42,603,236 45,586,087 48,910,946 54,448,065
Accounts receivable . . . . . . . . . . . . . . . . . . . . 47,138 56,510 30,840 31,519 28,708
Merchandise inventories. . . . . . . . . . . . . . . . . 1,374,505 1,374,481 1,345,321 1,294,581 1,304,124
Property and equipment, net . . . . . . . . . . . . . . 1,939,832 2,029,171 2,134,200 2,287,015 2,440,266
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,865,625 4,170,071 4,050,739 4,048,744 4,306,137
Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . 614,785 614,785 614,785 614,785 614,785
Capital lease obligations . . . . . . . . . . . . . . . . . 7,269 5,919 6,759 7,524 9,153
Other liabilities . . . . . . . . . . . . . . . . . . . . . . . . 238,980 250,455 228,439 233,492 245,218
Deferred income taxes . . . . . . . . . . . . . . . . . . 258,070 278,999 314,162 317,038 376,091
Subordinated debentures. . . . . . . . . . . . . . . . . 200,000 200,000 200,000 200,000 200,000
Total stockholders' equity. . . . . . . . . . . . . . . . 1,795,305 2,019,270 1,992,197 1,970,175 2,052,019
Number of stores
Opened . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32———
Closed. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31624
Total—end of year . . . . . . . . . . . . . . . . . . . . 297 297 296 302 304
___________________________________
* Fiscal 2012 contains 53 weeks.
The items below are included in the Selected Financial Data.
2015
A $12.6 million pretax gain ($8.1 million after tax or $0.21 per share) primarily related to the sale of four retail store
locations.
2014
A $5.9 million pretax gain ($3.8 million after tax or $0.09 per share) related to the sale of a retail store location.