Neiman Marcus 2008 Annual Report Download - page 133

Table of Contents
Fiscal year ended July 28, 2007
(in thousands) Company NMG
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) — 2,316,301 437,513 — 2,753,814
Selling, general and administrative
expenses (excluding depreciation) — 880,136 135,004 — 1,015,140
Income from credit card program, net — (59,090 ) (6,633 ) — (65,723 )
Depreciation expense — 116,984 19,484 — 136,468
Amortization of intangible assets and
favorable lease commitments — 60,500 11,765 — 72,265
Impairment charges — — 11,473 — 11,473
Other income — (9,816 )(348 )— (10,164 )
Operating earnings — 395,498 81,305 — 476,803
Interest expense, net — 259,801 4 — 259,805
Intercompany royalty charges (income) — 276,095 (276,095 ) — —
Equity in (earnings) loss of subsidiaries (111,932 )(334,625 )— 446,557 —
Earnings (loss) before income taxes 111,932 194,227 357,396 (446,557 ) 216,998
Income tax expense — 82,295 — — 82,295
Earnings (loss) from continuing
operations 111,932 111,932 357,396 (446,557 ) 134,703
Loss from discontinued operation, net
of taxes — — (21,282 )(1,489 )(22,771 )
Net earnings (loss) $ 111,932 $ 111,932 $ 336,114 $ (448,046 )$ 111,932
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