Nordstrom 2010 Annual Report Download - page 67

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Nordstrom, Inc. and subsidiaries 59
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. The segment information for fiscal years 2009 and 2008 presented below has
been adjusted to reflect our 2010 reportable segments.
Fiscal year 2010 Retail Credit Corporate/Other Total
Net sales $9,420 — $(110) $9,310
Net sales increase 12.6% N/A N/A 12.7%
Credit card revenues — $390 — 390
Earnings (loss) before interest and income taxes 1,406 51 (339) 1,118
Interest expense, net — (21) (106) (127)
Earnings (loss) before income taxes 1,406 30 (445) 991
Earnings (loss) before income taxes
as a % of net sales 14.9% N/A N/A 10.6%
Capital expenditures 361 1 37 399
Depreciation and amortization 295 2 30 327
Goodwill 53 — — 53
Assets1 3,234 2,060 2,168 7,462
Fiscal year 2009 Retail Credit Corporate/Other Total
Net sales $8,363 — $(105) $8,258
Net sales decrease (0.1%) N/A N/A (0.2%)
Credit card revenues — $370 (1) 369
Earnings (loss) before interest and income taxes 1,191 (41) (316) 834
Interest expense, net — (41) (97) (138)
Earnings (loss) before income taxes 1,191 (82) (413) 696
Earnings (loss) before income taxes
as a % of net sales 14.2% N/A N/A 8.4%
Capital expenditures 341 7 12 360
Depreciation and amortization 281 2 30 313
Goodwill 53 — — 53
Assets1 2,929 2,070 1,580 6,579
Fiscal year 2008 Retail Credit Corporate/Other Total
Net sales $8,372 — $(100) $8,272
Net sales decrease (4.9%) N/A N/A (6.3%)
Credit card revenues — $302 (1) 301
Earnings (loss) before interest and income taxes 1,071 (22) (270) 779
Interest expense, net — (50) (81) (131)
Earnings (loss) before income taxes 1,071 (72) (351) 648
Earnings (loss) before income taxes
as a % of net sales 12.8% N/A N/A 7.8%
Capital expenditures 544 2 17 563
Depreciation and amortization 267 1 34 302
Goodwill 53 — — 53
Assets1 2,863 1,963 835 5,661
1Assets in Corporate/Other include unallocated assets in corporate headquarters, consisting primarily of cash, land, buildings and equipment and deferred tax assets.