Nordstrom 2009 Annual Report Download - page 65

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Nordstrom, Inc. and subsidiaries 57
Nordstrom, Inc.
Notes to Consolidated Financial Statements
Dollar and share amounts in millions except per share, per option and unit amounts
The following tables set forth information for our reportable segments:
Retail
Fiscal year 2009 Stores Direct Credit Other Total
Net sales1 $7,564 $799 — $(105) $8,258
Net sales (decrease) increase (1.4%) 14.5% N/A N/A (0.2%)
Credit card revenue — — $370 (1) 369
Earnings (loss) before interest and income taxes 935 256 (41) (316) 834
Interest expense, net2 — — (41) (97) (138)
Earnings (loss) before income taxes 935 256 (82) (413) 696
Earnings (loss) before income taxes
as a % of net sales 12.4% 32.0% N/A N/A 8.4%
Capital expenditures 339 2 7 12 360
Depreciation and amortization 274 7 2 30 313
Goodwill 38 15 — — 53
Assets3 2,807 122 2,070 1,580 6,579
Retail
Fiscal year 2008 Stores Direct Credit Other Total
Net sales1 $7,674 $698 — $(100) $8,272
Net sales (decrease) increase (5.9%) 8.4% N/A N/A (6.3%)
Credit card revenue — — $302 (1) 301
Earnings (loss) before interest and income taxes 884 187 (22) (270) 779
Interest expense, net2 — — (50) (81) (131)
Earnings (loss) before income taxes 884 187 (72) (351) 648
Earnings (loss) before income taxes
as a % of net sales 11.5% 26.8% N/A N/A 7.8%
Capital expenditures 529 15 2 17 563
Depreciation and amortization 259 8 1 34 302
Goodwill 38 15 — — 53
Assets3 2,740 123 1,963 835 5,661
Retail
Fiscal year 2007 Stores Direct Credit Other Total
Net sales1 $8,159 $644 — $25 $8,828
Net sales increase 3.1% 17.9% N/A N/A
3.1%
Credit card revenue — — $253 (1) 252
Earnings (loss) before interest and income taxes 1,256 165 26 (200) 1,247
Interest expense, net2 — — (64) (10) (74)
Earnings (loss) before income taxes 1,256 165 (38) (210) 1,173
Earnings (loss) before income taxes
as a % of net sales 15.4% 25.6% N/A N/A 13.3%
Capital expenditures 431 35 3 32 501
Depreciation and amortization 228 3 1 37 269
Goodwill 38 15 — — 53
Assets3 2,555 133 1,783 1,129 5,600
1Net sales in Other include foreign sales of $62 in 2007.
2Interest income of $1, $2 and $14 for 2009, 2008 and 2007 is recorded in our Other segment as an offset to interest expense, net.
3Assets in Other include unallocated assets in corporate headquarters, consisting primarily of cash, land, buildings and equipment, and deferred tax assets.