Sears 2010 Annual Report Download - page 18
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Item 6. Selected Financial Data
The table below summarizes our 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 our Consolidated Financial Statements and notes thereto in Item 8.
Fiscal
dollars in millions, except per share and store data 2010 2009 2008 2007 2006(1)
Summary of Operations
Total revenues(2) ................................... $43,326 $44,043 $46,770 $50,703 $53,016
Domestic comparable sales % ........................ (1.6)% (5.1)% (8.0)% (4.3)% (3.7)%
Net income attributable to Holdings’ shareholders(3) ....... 133 235 53 826 1,492
Per Common Share
Basic:
Net income attributable to Holdings’ shareholders . . . . $ 1.19 $ 1.99 $ 0.42 $ 5.71 $ 9.59
Diluted:
Net income attributable to Holdings’ shareholders . . . . $ 1.19 $ 1.99 $ 0.42 $ 5.70 $ 9.58
Holdings’ book value per common share ................ $ 78.19 $ 79.21 $ 76.91 $ 80.59 $ 82.60
Financial Data
Total assets ....................................... $24,268 $24,808 $25,342 $27,397 $29,906
Long-term debt .................................... 2,130 1,123 1,527 1,922 2,109
Long-term capital lease obligations .................... 533 575 605 684 734
Capital expenditures ................................ 441 361 497 570 508
Number of stores .................................. 4,038 3,950 3,948 3,876 3,820
(1) During the fourth quarter of 2007, Sears Canada changed its year end from the Saturday nearest
December 31st to the Saturday nearest January 31st. This change was retrospectively applied to prior year
amounts reported in the 2006 column as required by accounting standards for reporting changes in
accounting.
(2) We follow a retail-based financial reporting calendar. Accordingly, our 2006 results reflect the 53-week
period ended February 3, 2007 whereas years 2010, 2009, 2008, and 2007 contained 52-weeks.
(3) The periods presented were impacted by certain significant items, which affected the comparability of
amounts reflected in the above selected financial data. For 2010, 2009, and 2008, these significant items are
discussed within Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of
Operations.” 2007 results include the impact of a $14 million loss derived from our investments in total
return swaps, a $27 million curtailment gain recorded in connection with changes made to Sears Canada’s
benefit plans and a $19 million gain related to insurance recoveries for certain Sears Domestic properties
damaged by hurricanes during 2005. 2006 results include the impact of a $74 million gain derived from our
investments in total return swaps, $36 million related to the June 2006 settlement of Visa/MasterCard
antitrust litigation, a tax benefit of $31 million related to the resolution of certain income tax matters,
restructuring charges of $28 million, a $41 million gain on the sale of Kmart’s former headquarters building,
and a charge of $74 million related to an unfavorable verdict in connection with a legal settlement.
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