Neiman Marcus 2005 Annual Report Download - page 124

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Forty-three weeks ended July 29, 2006 (Successor)
(in thousands) Company NMG
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Revenues $ — $ 2,885,321 $ 512,007 $ 66,734 $ (1,843 ) $ 3,462,219
Cost of goods sold including buying and
occupancy costs (excluding depreciation) — 1,885,917 332,938 42,804 (2,522 ) 2,259,137
Selling, general and administrative expenses
(excluding depreciation) — 704,846 97,767 19,491 — 822,104
Income from credit card operations — (44,765 ) (4,588 ) — — (49,353
Depreciation expense — 89,545 17,028 4,513 — 111,086
Amortization of customer lists and favorable
lease commitments — 49,830 9,760 575 — 60,165
Operating earnings — 199,948 59,102 (649 ) 679 259,080
Interest expense, net — 217,664 — 266 — 217,930
Intercompany royalty charges (income) — 201,879 (201,879 ) — —
Equity in earnings of subsidiaries (12,455 )(246,686 )— — 259,141
Earnings (loss) from continuing operations
before income taxes and minority interest 12,455 27,091 260,981 (915 ) (258,462 ) 41,150
Income taxes — 14,636 — — — 14,636
Earnings (loss) from continuing operations
before minority interest 12,455 12,455 260,981 (915 ) (258,462 ) 26,514
Minority interest in net earnings of
subsidiaries — — — — (204 )
Earnings (loss) from continuing operations 12,455 12,455 260,981 (915 ) (258,666 ) 26,310
(Loss) earnings from discontinued operation,
net of taxes — — — (14,317 )462 (13,855
Net earnings (loss) $ 12,455 $ 12,455 $ 260,981 $ (15,232 )$ (258,204 )$ 12,455
Nine weeks ended October 1, 2005 (Predecessor)
(in thousands) NMG
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Revenues $ 530,666 $ 101,556 $ 12,283 $ (1,128 ) $ 643,377
Cost of goods sold including buying and
occupancy costs (excluding
depreciation) 312,454 58,986 7,644 (842 ) 378,242
Selling, general and administrative
expenses (excluding depreciation) 135,278 20,491 4,914 — 160,683
Income from credit card operations (6,994 ) (824 ) — — (7,818 )
Depreciation expense 16,118 3,015 593 — 19,726
Transaction and other costs 23,544 — — — 23,544
Operating earnings 50,266 19,888 (868 ) (286 ) 69,000
Interest (income) expense, net (909 ) — 20 — (889 )
Intercompany royalty charges (income) 46,240 (46,240 ) — — —
Equity in earnings of subsidiaries (64,955 )— — 64,955 —
Earnings (loss) from continuing
operations before income taxes and
minority interest 69,890 66,128 (888 ) (65,241 ) 69,889
Income taxes 25,736 — — — 25,736
Earnings (loss) from continuing
operations before minority interest 44,154 66,128 (888 ) (65,241 ) 44,153
Minority interest in net loss of
subsidiaries — — — 347 347
Earnings (loss) from continuing
operations 44,154 66,128 (888 ) (64,894 ) 44,500