Nordstrom 2008 Annual Report Download - page 34

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34
Nordstrom, Inc.
Consolidated Statements of Earnings
In millions except per share amounts
Fiscal year 2008 2007 2006
Net sales $8,272 $8,828 $8,561
Credit card revenues 301 252 105
Total revenues 8,573 9,080 8,666
Cost of sales and related buying and occupancy costs (5,417) (5,526) (5,354)
Selling, general and administrative expenses:
Retail stores, direct and other segments (2,111) (2,183) (2,205)
Credit segment (275) (177) (92)
Other income and expense, net 9 19 134
Gain on sale of Façonnable – 34 —
Earnings before interest and income taxes 779 1,247 1,149
Interest expense, net (131) (74) (43)
Earnings before income taxes 648 1,173 1,106
Income tax expense (247) (458) (428)
Net earnings $401 $715 $678
Earnings per basic share $1.85 $2.92 $2.60
Earnings per diluted share $1.83 $2.88 $2.55
Basic shares 216.6 244.8 260.7
Diluted shares 219.2 248.8 265.7
The accompanying Notes to Consolidated Financial Statements are an integral part of these financial statements.