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46
Nordstrom, Inc.
Notes to Consolidated Financial Statements
Amounts in thousands except per share amounts
The following tables set forth the information for our reportable segments and a reconciliation to the consolidated totals:
Retail
Fiscal Year 2005 Stores Credit Direct Other Eliminations Total
Net sales (a) $7,234,173 - $401,386 $87,301 - $7,722,860
Intersegment revenues - $38,947 - - $(38,947) -
Interest expense, net (b) - (26,216) - (19,084) - (45,300)
Other income including finance
charges, net (10,588) 224,677 29 (17,764) - 196,354
Depreciation and amortization 223,258 1,209 2,693 49,168 - 276,328
Earnings before income tax expense 1,007,193 49,677 69,473 (241,118) - 885,225
Goodwill 8,462 - 15,716 27,536 - 51,714
Acquired tradename - - - 84,000 - 84,000
Assets (c) 2,285,259 1,164,472 85,082 1,386,536 - 4,921,349
Capital expenditures 232,198 925 2,850 35,686 - 271,659
Retail
Fiscal Year 2004 Stores Credit Direct Other Eliminations Total
Net sales (a) $6,665,823 — $411,719 $53,846 — $7,131,388
Intersegment revenues - $36,645 — — $(36,645) —
Interest expense, net (b) - (23,522) 148 (54,054) — (77,428)
Other income including finance
charges, net (10,717) 202,359 (208) (18,492) - 172,942
Depreciation and amortization 209,321 1,107 4,395 49,946 — 264,769
Earnings before income tax expense 838,100 39,503 52,517 (282,839) — 647,281
Goodwill 8,462 — 15,716 27,536 — 51,714
Acquired tradename - — — 84,000 — 84,000
Assets (c) 2,258,762 1,030,941 103,961 1,211,726 — 4,605,390
Capital expenditures 207,599 605 6,196 32,451 — 246,851
Retail
Fiscal Year 2003 Stores Credit Direct Other Eliminations Total
Net sales (a) $6,069,378 — $314,542 $64,758 — $6,448,678
Intersegment revenues - $34,276 — — $(34,276) —
Interest expense, net (b) - (22,122) 105 (68,935) — (90,952)
Other income including finance
charges, net (12,375) 176,551 (602) (8,484) — 155,090
Depreciation and amortization 199,322 2,838 5,052 43,471 — 250,683
Earnings before income tax expense 577,531 17,473 19,572 (216,435) — 398,141
Goodwill 8,462 — 15,716 27,536 — 51,714
Acquired tradename - — — 84,000 — 84,000
Assets (c) 2,118,779 878,541 93,070 1,478,843 — 4,569,233
Capital expenditures 216,039 1,104 4,729 36,442 — 258,314
(a) Net sales in Other include foreign sales of $93,851, $94,994, and $92,524 for 2005, 2004, and 2003.
(b) Interest income of $12,374, $5,574 and $3,009 for 2005, 2004 and 2003 is recorded in our Other segment as an offset to interest expense, net.
(c) Assets in Other include foreign assets of $204,865, $207,095, and $234,459 at the end of 2005, 2004, and 2003. It also includes unallocated assets in corporate headquarters,
consisting primarily of cash, land, buildings and equipment, and deferred tax assets.