JCPenney 2002 Annual Report Download - page 21

Download and view the complete annual report

Please find page 21 of the 2002 JCPenney annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 48

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48

J. C. Penney Company, Inc. 2002 annual report18
CONSOLIDATED STATEMENTS OF OPERATIONS
($ in millions, except per share data) 2002 2001 2000
Retail sales, net $ 32,347 $ 32,004 $ 31,846
Costs and expenses
Costs of goods sold 22,573 22,789 23,031
Selling, general and administrative expenses 8,667 8,459 8,637
Other unallocated 93 46 515
Net interest expense 388 386 427
Acquisition amortization 42 121 122
Total costs and expenses 31,763 31,801 32,732
Income/(loss) from continuing operations before income taxes 584 203 (886)
Income taxes 213 89 (318)
Income/(loss) from continuing operations $ 371 $ 114 $ (568)
Income from discontinued operations
(net of income tax of $0, $0 and $90) —— 159
Gain/(loss) on sale of discontinued operations
(net of income tax of $(34), $(6) and $200) 34 (16) (296)
Net income/(loss) $ 405 $ 98 $ (705)
Less: preferred stock dividends 27 29 33
Net income/(loss) applicable to common stockholders $ 378 $ 69 $ (738)
Earnings/(loss) per share from continuing operations:
Basic $ 1.28 $ 0.32 $ (2.29)
Diluted $ 1.25 $ 0.32 $ (2.29)
Earnings/(loss) per share:
Basic $ 1.41 $ 0.26 $ (2.81)
Diluted $ 1.37 $ 0.26 $ (2.81)
The accompanying notes are an integral part of these Consolidated Financial Statements.