Neiman Marcus 2006 Annual Report Download - page 146

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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 $ 410 $ — $ 3,397,738
Cost of goods sold including buying and
occupancy costs (excluding depreciation) — 1,885,917 332,938 583 — 2,219,438
Selling, general and administrative expenses
(excluding depreciation) — 704,720 97,767 (132 ) — 802,355
Income from credit card program — (44,765 ) (4,588 ) — — (49,353
Depreciation expense — 89,545 17,028 377 — 106,950
Amortization of customer lists and favorable
lease commitments — 49,880 9,760 — — 59,640
Operating earnings (loss) — 200,024 59,102 (418 ) — 258,708
Interest expense, net — 217,665 — — — 217,665
Intercompany royalty charges (income) — 201,879 (201,879 ) — —
Equity in earnings of subsidiaries (12,455 )(246,570 )— — 259,025
Earnings (loss) from continuing operations
before income taxes 12,455 27,050 260,981 (418 ) (259,025 ) 41,043
Income taxes — 14,595 — — — 14,595
Earnings (loss) from continuing operations 12,455 12,455 260,981 (418 ) (259,025 ) 26,448
(Loss) earnings from discontinued
operations, net of taxes — — — (14,251 )258 (13,993
Net earnings (loss) $ 12,455 $ 12,455 $ 260,981 $ (14,669 )$ (258,767 )$ 12,455
Nine weeks ended October 1, 2005 (Predecessor)
(in thousands) NMG
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Revenues $ 530,667 $ 101,556 $ 149 $ — $ 632,372
Cost of goods sold including buying and
occupancy costs (excluding depreciation) 312,454 58,986 102 — 371,542
Selling, general and administrative
expenses (excluding depreciation) 135,279 20,491 (138 ) — 155,632
Income from credit card program (6,994 ) (824 ) — — (7,818
Depreciation expense 16,118 3,015 76 — 19,209
Transaction and other costs 23,544 — — — 23,544
Operating earnings 50,266 19,888 109 — 70,263
Interest income, net (910 ) — — —
Intercompany royalty charges (income) 46,240 (46,240 ) — —
Equity in earnings of subsidiaries (65,444 )— — 65,444
Earnings (loss) from continuing operations
before income taxes 70,380 66,128 109 (65,444 ) 71,173
Income taxes 26,226 — — — 26,226
Earnings (loss) from continuing operations 44,154 66,128 109 (65,444 ) 44,947
(Loss) earnings from discontinued
operations, net of taxes — — (1,346 )553
Net earnings (loss) $ 44,154 $ 66,128 $ (1,237 )$ (64,891 )$ 44,154
F-47