Sears 2009 Annual Report Download - page 97

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SEARS HOLDINGS CORPORATION
Notes to Consolidated Financial Statements—(Continued)
(2) The second quarter of 2009 includes domestic pension plan expense of $42 million ($26 million after tax or
$0.22 per diluted share); mark-to-market losses on Sears Canada hedge transactions of $22 million ($10
million after tax and noncontrolling interest or $0.08 per diluted share); and a charge for costs associated
with store closings and severance of $61 million ($38 million after tax or $0.32 per diluted share).
(3) The third quarter of 2009 includes domestic pension plan expense of $44 million ($28 million after tax or
$0.24 per diluted share); a charge for costs associated with store closings and severance of $10 million ($6
million after tax or $0.05 per diluted share); and mark-to-market gains on Sears Canada hedge transactions
of $2 million ($1 million after tax and noncontrolling interest or $0.01 per diluted share).
(4) The fourth quarter of 2009 includes a gain of $32 million ($22 million after tax or $0.19 per diluted share)
recorded in connection with the settlement of Visa/MasterCard antitrust litigation in 2009; domestic pension
plan expense of $42 million ($29 million after tax or $0.25 per diluted share); mark-to-market gains on
Sears Canada hedge transactions of $1 million ($1 million after tax and noncontrolling interest or $0.01 per
diluted share); a charge for costs associated with store closings and severance of $43 million ($30 million
after tax or $0.26 per diluted share); and a tax benefit of $41 million ($0.36 per diluted share) related to the
resolution of certain income tax matters.
(5) The second quarter of 2008 includes the positive impact of the reversal of a $62 million ($37 million after
tax or $0.29 per diluted share) reserve because of the overturning of the February 2, 2007 adverse jury
verdict relating to the redemption of certain Sears, Roebuck and Co. bonds in 2004.
(6) The third quarter of 2008 includes a charge of $101 million ($61 million after tax or $0.49 per diluted share)
related to the costs associated with the closure of 14 stores and asset impairments and mark-to-market gains
on Sears Canada hedge transactions of $67 million ($29 million after tax and noncontrolling interest or
$0.23 per diluted share).
(7) The fourth quarter of 2008 includes a charge of $336 million ($187 million after tax and noncontrolling
interest or $1.53 per diluted share) related to the a goodwill impairment charge at our subsidiary, OSH, and
costs associated with store closings and severance; mark-to-market gains on Sears Canada hedge
transactions of $9 million ($4 million after tax and noncontrolling interest or $0.03 per diluted share); a tax
benefit of $8 million ($0.07 per diluted share) related to the resolution of certain income tax matters; and
gains on negotiated repurchases of debt securities prior to maturity of $9 million ($5 million after tax or
$0.04 per diluted share).
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