Neiman Marcus 2007 Annual Report Download - page 128
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Table of Contents
Fiscal year ended August 2, 2008 (Successor)
(in thousands) Company NMG
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Revenues $ — $ 3,854,429 $ 746,107 $ — $ — $ 4,600,536
Cost of goods sold including buying and
occupancy costs (excluding depreciation) — 2,460,441 473,729 798 — 2,934,968
Selling, general and administrative expenses
(excluding depreciation) — 906,014 140,086 (653) — 1,045,447
Income from credit card program — (59,131) (6,596) — — (65,727)
Depreciation expense — 129,812 17,678 921 — 148,411
Amortization of customer lists and favorable
lease commitments — 60,360 11,832 — — 72,192
Other (income) expense, net — (32,450)31,261 — — (1,189)
Operating earnings (loss) — 389,383 78,117 (1,066) — 466,434
Interest expense, net — 239,795 10 — — 239,805
Intercompany royalty charges (income) — 273,584 (273,584) — — —
Equity in earnings of subsidiaries (142,813)(350,625)— — 493,438 —
Earnings (loss) from continuing operations
before income taxes 142,813 226,629 351,691 (1,066) (493,438) 226,629
Income taxes — 83,816 — — — 83,816
Net earnings (loss) $ 142,813 $ 142,813 $ 351,691 $ (1,066)$ (493,438)$ 142,813
Fiscal year ended July 28, 2007 (Successor)
(in thousands) Company NMG
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Revenues $ — $ 3,700,513 $ 689,563 $ — $ — $ 4,390,076
Cost of goods sold including buying and
occupancy costs (excluding depreciation) — 2,316,301 436,749 764 — 2,753,814
Selling, general and administrative expenses
(excluding depreciation) — 880,136 135,613 (609) — 1,015,140
Income from credit card program — (59,090) (6,633) — — (65,723)
Depreciation expense — 116,984 19,099 385 — 136,468
Amortization of customer lists and favorable
lease commitments — 60,500 11,765 — — 72,265
Other (income) expense, net — (9,816)11,125 — — 1,309
Operating earnings (loss) — 395,498 81,845 (540) — 476,803
Interest expense, net — 259,801 4 — — 259,805
Intercompany royalty charges (income) — 276,095 (276,095) — — —
Equity in earnings of subsidiaries (111,932)(334,625)— — 446,557 —
Earnings (loss) from continuing operations
before income taxes 111,932 194,227 357,936 (540) (446,557) 216,998
Income taxes — 82,295 — — — 82,295
Earnings (loss) from continuing operations 111,932 111,932 357,936 (540) (446,557) 134,703
Loss from discontinued operations, net of
taxes — — — (21,282)(1,489)(22,771)
Net earnings (loss) $ 111,932 $ 111,932 $ 357,936 $ (21,822) $ (448,046) $ 111,932
F-42