Sears 2011 Annual Report Download - page 19
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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 2011 2010 2009 2008 2007
Summary of Operations
Revenues(1) ................................. $41,567 $42,664 $43,360 $46,007 $49,867
Domestic comparable store sales % ............. (2.2)% (1.3)% (4.7)% (7.7)% (4.2)%
Net income (loss) from continuing operations
attributable to Holdings’ shareholders(2) ........ (3,113) 122 218 295 812
Per Common Share
Basic:
Net income (loss) from continuing operations
attributable to Holdings’ shareholders ..... $(29.15) $ 1.09 $ 1.85 $ 2.32 $ 5.61
Diluted:
Net income (loss) from continuing operations
attributable to Holdings’ shareholders ..... $(29.15) $ 1.09 $ 1.85 $ 2.32 $ 5.61
Holdings’ book value per common share ......... $ 40.26 $ 78.19 $ 79.21 $ 76.91 $ 80.59
Financial Data
Total assets ................................ $21,381 $24,360 $24,901 $25,444 $27,497
Long-term debt ............................. 1,693 1,872 949 1,220 1,806
Long-term capital lease obligations ............. 395 472 510 552 628
Capital expenditures ......................... 432 426 350 486 552
Adjusted EBITDA ........................... 277 1,385 1,744 1,524 2,459
Number of stores ............................ 4,010 3,949 3,862 3,862 3,791
(1) We follow a retail-based financial reporting calendar. Accordingly, all years presented contained 52 weeks.
(2) The periods presented were impacted by certain significant items, which affected the comparability of
amounts reflected in the above selected financial data. For 2011, 2010 and 2009, these significant items are
discussed within Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of
Operations.” 2008 results include the impact of a $98 million charge related to asset impairments, a $77
million charge related to store closings and severance, mark-to-market gains of $81 million on Sears Canada
hedge transactions, the reversal of a $62 million reserve because of the overturning of an adverse jury
verdict relating to the redemption of certain Sears, Roebuck and Co. bonds in 2004, a tax benefit of $8
million related to the resolution of certain income tax matters, and gains of $13 million on negotiated
repurchases of debt securities prior to maturity. 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.
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