Nordstrom 2009 Annual Report Download - page 44

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36
Nordstrom, Inc.
Consolidated Statements of Earnings
In millions except per share amounts
Fiscal year 2009 2008 2007
Net sales $8,258 $8,272 $8,828
Credit card revenues 369 301 252
Total revenues 8,627 8,573 9,080
Cost of sales and related buying and occupancy costs (5,328) (5,417) (5,526)
Selling, general and administrative expenses:
Retail stores, direct and other segments (2,109) (2,103) (2,161)
Credit segment (356) (274) (198)
Gain on sale of Façonnable – - 34
Earnings on investment in asset-backed securities, net – - 18
Earnings before interest and income taxes 834 779 1,247
Interest expense, net (138) (131) (74)
Earnings before income taxes 696 648 1,173
Income tax expense (255) (247) (458)
Net earnings $441 $401 $715
Earnings per basic share $2.03 $1.85 $2.92
Earnings per diluted share $2.01 $1.83 $2.88
Basic shares 216.8 216.6 244.8
Diluted shares 219.7 219.2 248.8
The accompanying Notes to Consolidated Financial Statements are an integral part of these financial statements.