Neiman Marcus 2010 Annual Report Download - page 102

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Table of Contents
NEIMAN MARCUS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
Fiscal year ended
(in thousands)
July 30,
2011
July 31,
2010
August 1,
2009
Revenues $ 4,002,272 $ 3,692,768 $ 3,643,346
Cost of goods sold including buying and occupancy costs (excluding
depreciation) 2,589,419 2,419,545 2,536,764
Selling, general and administrative expenses (excluding depreciation) 934,177 885,406 882,737
Income from credit card program (46,022) (59,076) (49,966)
Depreciation expense 132,433 141,839 150,759
Amortization of intangible assets 44,670 55,381 54,826
Amortization of favorable lease commitments 17,878 17,878 17,877
Impairment charges — — 703,266
Operating earnings (loss) 329,717 231,795 (652,917)
Interest expense, net 280,453 237,108 235,574
Earnings (loss) before income taxes 49,264 (5,313) (888,491)
Income tax expense (benefit) 17,641 (3,475)(220,445)
Net earnings (loss) $ 31,623 $ (1,838)$ (668,046)
See Notes to Consolidated Financial Statements.
F-6