Macy's 2013 Annual Report Download - page 18

Table of Contents
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The selected financial data set forth below should be read in conjunction with the Consolidated Financial Statements and the notes thereto and the other
information contained elsewhere in this report.
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Consolidated Statement of Income Data:
Net sales $27,931
$27,686
$26,405
$25,003
$23,489
Cost of sales (16,725)
(16,538)
(15,738)
(14,824)
(13,973)
Gross margin 11,206
11,148
10,667
10,179
9,516
Selling, general and administrative expenses (8,440)
(8,482)
(8,281)
(8,260)
(8,062)
Impairments, store closing and other costs, gain on
sale of leases and division consolidation costs (88)
(5)
25
(25)
(391)
Operating income 2,678
2,661
2,411
1,894
1,063
Interest expense (390)
(425)
(447)
(513)
(562)
Premium on early retirement of debt —
(137)
—
(66)
—
Interest income 2
3
4
5
6
Income before income taxes 2,290
2,102
1,968
1,320
507
Federal, state and local income tax expense (804)
(767)
(712)
(473)
(178)
Net income $1,486
$1,335
$1,256
$847
$ 329
Basic earnings per share $3.93
$3.29
$2.96
$2.00
$0.78
Diluted earnings per share $3.86
$3.24
$2.92
$1.98
$0.78
Average number of shares outstanding 378.3
405.5
424.5
423.3
421.7
Cash dividends paid per share $.9500
$.8000
$.3500
$.2000
$.2000
Depreciation and amortization $1,020
$1,049
$1,085
$1,150
$1,210
Capital expenditures $863
$ 942
$ 764
$505
$460
Balance Sheet Data (at year end):
Cash and cash equivalents $2,273
$1,836
$2,827
$1,464
$1,686
Total assets 21,634
20,991
22,095
20,631
21,300
Short-term debt 463
124
1,103
454
242
Long-term debt 6,728
6,806
6,655
6,971
8,456
Shareholders’ equity 6,249
6,051
5,933
5,530
4,653
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*53 weeks
13