Sears 2014 Annual Report Download - page 21

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21
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 2014 2013 2012 2011 2010
Summary of Operations
Revenues (1) . . . . . . . . . . . . . . . . . . . . . . . . . . $ 31,198 $ 36,188 $ 39,854 $ 41,567 $ 42,664
Domestic comparable store sales % . . . . . . . (1.8)% (3.8)% (2.5)% (2.2)% (1.3)%
Net income (loss) from continuing
operations attributable to Holdings'
shareholders (2) . . . . . . . . . . . . . . . . . . . . . . (1,682) (1,365) (930) (3,113) 122
Per Common Share
Basic:
Net income (loss) from continuing
operations attributable to Holdings'
shareholders . . . . . . . . . . . . . . . . . . . . . . . $ (15.82) $ (12.87) $ (8.78) $ (29.15) $ 1.09
Diluted:
Net income (loss) from continuing
operations attributable to Holdings'
shareholders . . . . . . . . . . . . . . . . . . . . . . . $ (15.82) $ (12.87) $ (8.78) $ (29.15) $ 1.09
Holdings' book value per common share. . . . $ (8.93) $ 16.34 $ 25.89 $ 40.26 $ 78.19
Financial Data
Total assets. . . . . . . . . . . . . . . . . . . . . . . . . . . $ 13,209 $ 18,261 $ 19,340 $ 21,381 $ 24,360
Long-term debt . . . . . . . . . . . . . . . . . . . . . . . 2,900 2,559 1,579 1,693 1,872
Long-term capital lease obligations. . . . . . . . 210 275 364 395 472
Capital expenditures . . . . . . . . . . . . . . . . . . . 270 329 378 432 426
Adjusted EBITDA(3) . . . . . . . . . . . . . . . . . . . (718) (487) 428 51 1,085
Domestic Adjusted EBITDA(3) . . . . . . . . . . . (647) (490) 359 (50) 766
Number of stores . . . . . . . . . . . . . . . . . . . . . . 1,725 2,429 2,548 4,010 3,949
_________________
(1) We follow a retail-based financial reporting calendar. Accordingly, the fiscal year ended February 2, 2013 contained 53
weeks, while all other 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 2014, 2013 and 2012, these significant items are discussed within Item 7,
"Management's Discussion and Analysis of Financial Condition and Results of Operations." 2011 results include the
impact of non-cash charges of $551 million related to the impairment of goodwill balances, a $1.8 billion non-cash charge
to establish a valuation allowance against our domestic deferred tax assets, domestic pension expense of $46 million, store
closings and severance of $225 million, mark-to-market losses of $3 million on Sears Canada hedge transactions, gain on
the sale of real estate of $20 million, and hurricane losses of $7 million. 2010 results include the impact of domestic
pension expense of $96 million, a $30 million charge related to store closings and severance, a gain on the sale of real
estate of $28 million, mark-to-market losses of $4 million on Sears Canada hedge transactions, a tax impact of $9 million
related to a dividend received from Sears Canada and a tax benefit of $13 million related to the resolution of certain
income tax matters.
(3) See "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Item 7 for a
reconciliation of this measure to GAAP and a discussion of management’s reasoning for using such measure.