Nordstrom 2010 Annual Report Download - page 47

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Nordstrom, Inc. and subsidiaries 39
Nordstrom, Inc.
Consolidated Statements of Earnings
In millions except per share amounts
Fiscal year 2010 2009 2008
Net sales $9,310 $8,258 $8,272
Credit card revenues 390 369 301
Total revenues 9,700 8,627 8,573
Cost of sales and related buying and occupancy costs (5,897) (5,328) (5,417)
Selling, general and administrative expenses:
Retail (2,412) (2,109) (2,103)
Credit (273) (356) (274)
Earnings before interest and income taxes 1,118 834 779
Interest expense, net (127) (138) (131)
Earnings before income taxes 991 696 648
Income tax expense (378) (255) (247)
Net earnings $613 $441 $401
Earnings per share:
Basic $2.80 $2.03 $1.85
Diluted $2.75 $2.01 $1.83
Weighted average shares outstanding:
Basic 218.8 216.8 216.6
Diluted 222.6 219.7 219.2
The accompanying Notes to Consolidated Financial Statements are an integral part of these financial statements.