Neiman Marcus 2009 Annual Report Download - page 134

Table of Contents
Fiscal year ended August 2, 2008
(in thousands) Company NMG
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) — 2,460,441 474,527 — 2,934,968
Selling, general and administrative expenses
(excluding depreciation) — 906,014 139,433 — 1,045,447
Income from credit card program, net — (59,131) (6,596) — (65,727)
Depreciation expense — 129,812 18,599 — 148,411
Amortization of intangible assets and favorable
lease commitments — 60,360 11,832 — 72,192
Impairment charges — — 31,261 — 31,261
Other income — (32,450)— — (32,450)
Operating earnings — 389,383 77,051 — 466,434
Interest expense, net — 239,795 10 — 239,805
Intercompany royalty charges (income) — 273,584 (273,584) — —
Equity in (earnings) loss of subsidiaries (142,813)(350,625)— 493,438 —
Earnings (loss) before income taxes 142,813 226,629 350,625 (493,438) 226,629
Income tax expense — 83,816 — — 83,816
Net earnings (loss) $ 142,813 $ 142,813 $ 350,625 $ (493,438)$ 142,813
F-41