Sears 2013 Annual Report Download - page 117

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SEARS HOLDINGS CORPORATION
Notes to Consolidated Financial Statements—(Continued)
117
Condensed Consolidating Statement of Operations
For the Year Ended February 2, 2013
millions Parent Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Merchandise sales and services . . . . . . . . . . $ — $ 35,417 $ 8,032 $ (3,595) $ 39,854
Cost of sales, buying and occupancy. . . . . . — 26,531 4,619 (1,810) 29,340
Selling and administrative . . . . . . . . . . . . . . 2 10,054 2,389 (1,785) 10,660
Depreciation and amortization. . . . . . . . . . . — 634 196 — 830
Impairment charges . . . . . . . . . . . . . . . . . . . — 35 295 — 330
Gain on sales of assets . . . . . . . . . . . . . . . . . —(298)(170) — (468)
Total costs and expenses. . . . . . . . . . . . 2 36,956 7,329 (3,595) 40,692
Operating income (loss). . . . . . . . . . . . . . . . (2) (1,539) 703 — (838)
Interest expense . . . . . . . . . . . . . . . . . . . . . . (227) (391)(107) 458 (267)
Interest and investment income . . . . . . . . . . — 43 509 (458) 94
Other income . . . . . . . . . . . . . . . . . . . . . . . . — — 1 — 1
Income (loss) before income taxes . . . . . . . (229) (1,887) 1,106 — (1,010)
Income tax (expense) benefit. . . . . . . . . . . . 89 527 (660) — (44)
Equity (deficit) in earnings in subsidiaries .(914) 65 — 849 —
Net income (loss). . . . . . . . . . . . . . . . . . . . . (1,054) (1,295) 446 849 (1,054)
Loss attributable to noncontrolling interests — — — 124 124
NET INCOME (LOSS)
ATTRIBUTABLE TO HOLDINGS’
SHAREHOLDERS. . . . . . . . . . . . . . . . . $ (1,054) $ (1,295) $ 446 $ 973 $ (930)