Macy's 2015 Annual Report Download - page 19

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14
Item 6. Selected Financial Data.
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.
2015 2014 2013 2012* 2011
(millions, except per share)
Consolidated Statement of Income Data:
Net sales...................................................................................... $ 27,079 $ 28,105 $ 27,931 $ 27,686 $ 26,405
Cost of sales ................................................................................ (16,496) (16,863) (16,725) (16,538) (15,738)
Gross margin............................................................................... 10,583 11,242 11,206 11,148 10,667
Selling, general and administrative expenses ............................. (8,256) (8,355) (8,440) (8,482) (8,281)
Impairments, store closing and other costs and
gain on sale of leases .............................................................. (288) (87) (88) (5) 25
Operating income........................................................................ 2,039 2,800 2,678 2,661 2,411
Interest expense........................................................................... (363) (395) (390) (425) (447)
Premium on early retirement of debt .......................................... — (17) — (137) —
Interest income............................................................................ 22234
Income before income taxes ....................................................... 1,678 2,390 2,290 2,102 1,968
Federal, state and local income tax expense ............................... (608) (864) (804) (767) (712)
Net income.................................................................................. 1,070 1,526 1,486 1,335 1,256
Net loss attributable to noncontrolling interest........................... 2————
Net income attributable to Macy's, Inc. shareholders................. $ 1,072 $ 1,526 $ 1,486 $ 1,335 $ 1,256
Basic earnings per share attributable to
Macy's, Inc. shareholders ............................................................... $ 3.26 $ 4.30 $ 3.93 $ 3.29 $ 2.96
Diluted earnings per share attributable to
Macy's, Inc. shareholders ............................................................... $ 3.22 $ 4.22 $ 3.86 $ 3.24 $ 2.92
Average number of shares outstanding................................................ 328.4 355.2 378.3 405.5 424.5
Cash dividends paid per share.............................................................. $ 1.3925 $ 1.1875 $ .9500 $ .8000 $ .3500
Depreciation and amortization............................................................. $ 1,061 $ 1,036 $ 1,020 $ 1,049 $ 1,085
Capital expenditures............................................................................. $ 1,113 $ 1,068 $ 863 $ 942 $ 764
Balance Sheet Data (at year end):
Cash and cash equivalents .......................................................... $ 1,109 $ 2,246 $ 2,273 $ 1,836 $ 2,827
Total assets.................................................................................. 20,576 21,330 21,499 20,858 21,985
Short-term debt ........................................................................... 642 76 463 124 1,103
Long-term debt............................................................................ 6,995 7,233 6,688 6,768 6,622
Total Shareholders’ equity.......................................................... 4,253 5,378 6,249 6,051 5,933
___________________
* 53 weeks