Sears 2009 Annual Report Download - page 52

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SEARS HOLDINGS CORPORATION
Consolidated Statements of Income
millions, except per share data 2009 2008 2007
REVENUES
Merchandise sales and services ........................................ $44,043 $46,770 $50,703
COSTS AND EXPENSES
Cost of sales, buying and occupancy .................................... 31,824 34,118 36,638
Selling and administrative ............................................ 10,654 11,060 11,468
Depreciation and amortization ......................................... 926 981 1,049
Impairment charges ................................................. — 360 —
Gain on sales of assets ............................................... (74) (51) (38)
Total costs and expenses ......................................... 43,330 46,468 49,117
Operating income ................................................... 713 302 1,586
Interest expense .................................................... (265) (272) (286)
Interest and investment income ........................................ 33 46 135
Other income (loss) ................................................. (61) 108 17
Income before income taxes ........................................... 420 184 1,452
Income taxes ....................................................... (123) (85) (550)
Net income ........................................................ 297 99 902
Income attributable to noncontrolling interests ............................ (62) (46) (76)
NET INCOME ATTRIBUTABLE TO HOLDINGS’ SHAREHOLDERS . . . $ 235 $ 53 $ 826
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO HOLDINGS’
SHAREHOLDERS
Basic earnings per share ...................................... $ 1.99 $ 0.42 $ 5.71
Diluted earnings per share .................................... $ 1.99 $ 0.42 $ 5.70
Basic weighted average common shares outstanding ....................... 117.8 127.0 144.7
Diluted weighted average common shares outstanding ...................... 117.9 127.0 144.8
See accompanying Notes to Consolidated Financial Statements.
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