Neiman Marcus 2007 Annual Report Download - page 137
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Table of Contents
Forty-three weeks ended July 29, 2006 (Successor)
(in thousands) Company NMG
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Revenues $ — $ 2,885,321 $ 512,417 $ — $ 3,397,738
Cost of goods sold including buying and
occupancy costs (excluding depreciation) — 1,885,917 333,521 — 2,219,438
Selling, general and administrative expenses
(excluding depreciation) — 704,720 97,635 — 802,355
Income from credit card program — (44,765) (4,588) — (49,353)
Depreciation expense — 89,545 17,405 — 106,950
Amortization of customer lists and favorable
lease commitments — 49,880 9,760 — 59,640
Operating earnings — 200,024 58,684 — 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 27,050 260,563 (259,025) 41,043
Income taxes — 14,595 — — 14,595
Earnings (loss) from continuing operations 12,455 12,455 260,563 (259,025) 26,448
(Loss) earnings from discontinued operations,
net of taxes — — (14,251)258 (13,993)
Net earnings (loss) $ 12,455 $ 12,455 $ 246,312 $ (258,767)$ 12,455
Nine weeks ended October 1, 2005 (Predecessor)
(in thousands) NMG
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Revenues $ 530,667 $ 101,705 $ — $ 632,372
Cost of goods sold including buying and occupancy costs
(excluding depreciation) 312,454 59,088 — 371,542
Selling, general and administrative expenses (excluding
depreciation) 135,279 20,353 — 155,632
Income from credit card program (6,994) (824) — (7,818)
Depreciation expense 16,118 3,091 — 19,209
Other expense, net 23,544 — — 23,544
Operating earnings 50,266 19,997 — 70,263
Interest income, net (910) — — (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 66,237 (65,444) 71,173
Income taxes 26,226 — — 26,226
Earnings (loss) from continuing operations 44,154 66,237 (65,444) 44,947
(Loss) earnings from discontinued operations, net of taxes — (1,346)553 (793)
Net earnings (loss) $ 44,154 $ 64,891 $ (64,891)$ 44,154
F-51