Sears 2007 Annual Report Download - page 20

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(3) The periods presented were impacted by certain significant items, which affected the comparability of
amounts reflected in the above selected financial data. For fiscal 2007, 2006, and 2005, these significant
items are discussed within Item 7, “Management’s Discussion and Analysis of Financial Condition and
Results of Operations.” Fiscal year 2004 included a $946 million net gain on sales of assets and the 39
weeks ended January 28, 2004 included an $89 million net gain on sales of assets. The 13 weeks ended
April 30, 2003 included $769 million in expenses incurred by the Predecessor Company as a result of its
Chapter 11 reorganization, a $47 million charge for accelerated depreciation on unimpaired assets to be
disposed of following store closings, and a $10 million credit as a result of a change in the estimated
expenses for 2002 cost reduction initiatives.
(4) During the fourth quarter of 2007, Sears Canada changed its fiscal year end from the Saturday nearest
December 31st to the Saturday nearest January 31st. This change has been retrospectively applied to prior
year amounts reported in the fiscal 2006 and 2005 columns as required by SFAS No. 154, “Accounting
Changes and Error Corrections – A Replacement of Accounting Principles Board (APB) Opinion No. 20
and SFAS No. 3.” See Note 3 of Notes to Consolidated Financial Statements.
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