Neiman Marcus 2008 Annual Report Download - page 786

Example of 2009 Year End Settlement
Assumptions for Calculations
Average Gross Receivables [***]
Net Credit Sales [***]
Number of Average Active Accounts [***]
Gross Finance Income [***]
1-Month-LIBOR [***]
Net Write-Offs at [***] of Net Credit Sales [***]
Recoveries [***]
Fraud Loss [***]
Marketing Expense [***]
Payment to NMG for Processing In-Store Payments [***]
Schedule 1
Gross Receivables to Write-Off [***]
Less Recoveries [***]
Net Write-Offs [***]
[***] of Credit Sales [***]
Shared Net Write-Offs [***]
NMG Payable to Bank [***] of Shared [***]
Schedule 2 [***] RAM Sharing
Gross Finance Income [***]
Plus NMG Paid to Bank Shared W/O Amount [***]
Less Cost of Funds (1) [***]
Less Net Write-Offs [***]
Risk-Adjusted Revenue [***]
Risk-Adjusted Margin [***]
[***]
[***]
Excess Available for RAM Sharing [***]
Bank Payable to NMG of [***] RAM Sharing [***]
Schedule 3 Variable Break-Even
Gross Finance Income [***]
NMG Payable to Bank [***] of Shared [***]
Less Cost of Funds(1) [***]
Less Net Write-Offs [***]
Less All Payments Bank Paid to NMG (2) [***]
Less Fraud Loss [***]
Less Marketing Expense [***]
Less Standard Variable Expenses (3) [***]
Variable Margin [***]
Bank Payable to NMG of [***] Variable Break Even [***]
(1)
1 Month LIBOR times [***] of Average Gross Receivables [***]
[***] times [***] of Average Gross Receivables [***]
Cost of Funds [***]