Sears 2015 Annual Report Download - page 113

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Condensed Consolidating Statement of Operations
For the Year Ended February€1, 2014
€
millions Parent
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Merchandise sales and services. . . . . . . . . . . . $—$32,391 $7,202 $(3,405) $ 36,188
Cost of sales, buying and occupancy . . . . . . . — 25,035 4,128 (1,730)27,433
Selling and administrative. . . . . . . . . . . . . . . . 2 8,865 2,192 (1,675)9,384
Depreciation and amortization . . . . . . . . . . . . — 557 175 — 732
Impairment charges. . . . . . . . . . . . . . . . . . . . . — 220 13 — 233
Gain on sales of assets . . . . . . . . . . . . . . . . . . — (129)(538)— (667)
Total costs and expenses . . . . . . . . . . . . . 2 34,548 5,970 (3,405)37,115
Operating income (loss) . . . . . . . . . . . . . . . . . (2)(2,157)1,232 — (927)
Interest expense. . . . . . . . . . . . . . . . . . . . . . . . (217)(394)(85)442 (254)
Interest and investment income. . . . . . . . . . . . — 43 606 (442)207
Other income. . . . . . . . . . . . . . . . . . . . . . . . . . — — 2 — 2
Income (loss) before income taxes . . . . . . . . . (219)(2,508)1,755 — (972)
Income tax (expense) benefit . . . . . . . . . . . . . 37 469 (650)— (144)
Equity (deficit) in earnings in subsidiaries . . . (934)894 — 40 —
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . (1,116)(1,145)1,105 40 (1,116)
Income attributable to noncontrolling
interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — (249)(249)
NET INCOME (LOSS) ATTRIBUTABLE
TO HOLDINGS' SHAREHOLDERS . . . $(1,116) $ (1,145) $ 1,105 $(209) $ (1,365)
SEARS HOLDINGS CORPORATION
Notes to Consolidated Financial Statements—(Continued)
113