Sears 2006 Annual Report Download - page 18

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Item 6. Selected Financial Data
The table below summarizes the Company’s recent financial information. The data set forth below should
be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of
Operations” in Item 7 and the Company’s consolidated financial statements and notes thereto in Item 8.
Predecessor Company
Fiscal
39 Weeks
Ended
January 28,
2004
13 Weeks
Ended
April 30,
2003
Fiscal
2002dollars in millions, except per share data 2006 2005(1) 2004
Summary of Operations
Total revenues(2) ..................... $53,012 $49,124 $19,843 $17,190 $6,181 $29,352
Domestic comparable sales % .......... (3.7)% (5.3)% (11.0)% (9.5)% (3.2)% (10.1)%
Income (loss) from continuing
operations(3) ...................... 1,490 948 1,106 234 (852) (2,771)
Cumulative effect of a change in
accounting principle, net of tax(3) ...... — (90) — — — —
Discontinued operations .............. — — — — (10) (448)
Net income (loss)(3) .................. 1,490 858 1,106 234 (862) (3,219)
Per Common Share
Basic:
Continuing income (loss) ............ $ 9.57 $ 6.22 $ 12.39 $ 2.61 $ (1.63) $ (5.47)
Cumulative effect of change in
accounting principle .............. $ — $ (0.59) $ — $ — $ — $ —
Discontinued operations ............ $ — $ — $ — $ — $(0.02) $ (0.89)
Net income (loss) .................. $ 9.57 $ 5.63 $ 12.39 $ 2.61 $ (1.65) $ (6.36)
Diluted:
Continuing income (loss) ............ $ 9.57 $ 6.17 $ 11.00 $ 2.51 $ (1.63) $ (5.47)
Cumulative effect of change in
accounting principle .............. $ — $ (0.58) $ — $ — $ — $ —
Discontinued operations ............ $ — $ — $ — $ — $(0.02) $ (0.89)
Net income (loss) .................. $ 9.57 $ 5.59 $ 11.00 $ 2.51 $ (1.65) $ (6.36)
Predecessor
Company
Book value per common share .......... $ 82.65 $ 72.67 $ 50.39 $ 24.64 $19.45 $ (0.58)
Financial Data
Total assets ......................... $30,066 $30,573 $ 8,651 $ 6,074 $6,660 $11,238
Long-term debt(4) .................... 2,112 2,482 91 76 59 —
Long-term capital lease obligations ...... 737 786 275 374 415 623
Trust convertible preferred securities .... — — — — — 646
Capital expenditures (Predecessor
Company for the 13 weeks ended
April 30, 2003) .................... 513 546 230 108 4 252
Number of Stores .................... 3,791 3,843 1,480 1,511 1,513 1,829
(1) Fiscal 2005 includes the results of Sears subsequent to the Merger date. As a result, fiscal 2005 results
include approximately 44 weeks of Sears’ results and 52 weeks of Kmart’s results.
(2) The Company follows a retail-based financial reporting calendar. Accordingly, the Company’s fiscal 2006
results reflect the 53-week period ended February 3, 2007 whereas fiscal years 2005, 2004 and 2002
contained 52-weeks. Fiscal 2006 and fiscal 2005 ended on the Saturday closest to January 31st. Fiscal 2002,
the 39 weeks ended January 28, 2004, and fiscal 2004 ended on the last Wednesday in January. The reported
results for fiscal 2003 have been divided into two parts as a result of Kmart’s emergence from Chapter 11
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