Macy's 2013 Annual Report Download - page 96
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Table of Contents
Net sales $ —
$13,594
$ 22,493
$(8,401)
$27,686
Cost of sales —
(8,385)
(16,500)
8,347
(16,538)
Gross margin —
5,209
5,993
(54)
11,148
Selling, general and administrative expenses (9)
(4,584)
(3,943)
54
(8,482)
Impairments, store closing and other costs
and gain on sale of leases —
(8)
3
—
(5)
Operating income (loss) (9)
617
2,053
—
2,661
Interest (expense) income, net:
External 1
(422)
(1)
—
(422)
Intercompany (2)
(146)
148
—
—
Premium on early retirement of debt —
(137)
—
—
(137)
Equity in earnings of subsidiaries 1,342
638
—
(1,980)
—
Income before income taxes 1,332
550
2,200
(1,980)
2,102
Federal, state and local income
tax benefit (expense) 3
24
(794)
—
(767)
Net income $ 1,335
$ 574
$ 1,406
$ (1,980)
$ 1,335
Comprehensive income $1,465
$704
$ 1,477
$ (2,181)
$1,465
F-50