Foot Locker 2008 Annual Report Download - page 44
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28
CONSOLIDATED STATEMENTS OF OPERATIONS
2008 2007 2006
(in millions, except per share amounts)
Sales ..................................................... $5,237 $5,437 $5,750
Costs and expenses
Cost of sales ............................................... 3,777 4,017 4,014
Selling, general and administrative expenses....................... 1,174 1,176 1,163
Depreciation and amortization ................................. 130 166 175
Impairment charges and store closing program costs................. 259 128 17
Interest expense, net......................................... 5 1 3
5,345 5,488 5,372
Other income............................................... (8) (1) (14)
5,337 5,487 5,358
(Loss) income from continuing operations before income taxes......... (100) (50) 392
Income tax (benefit) expense .................................. (21) (93) 145
(Loss) income from continuing operations ........................ (79) 43 247
(Loss) income on disposal of discontinued operations,
net of income tax expense (benefit) of $—, $1, and $1, respectively. . . (1) 2 3
Cumulative effect of accounting change,
net of income tax benefit of $— ............................. — — 1
Net (loss) income ........................................... $ (80) $ 45 $ 251
Basic earnings per share:
(Loss) income from continuing operations ...................... $(0.52) $ 0.29 $ 1.59
Income from discontinued operations ......................... — 0.01 0.02
Cumulative effect of accounting change........................ — — 0.01
Net (loss) income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (0.52) $ 0.30 $ 1.62
Diluted earnings per share:
(Loss) income from continuing operations ...................... $(0.52) $ 0.28 $ 1.58
Income from discontinued operations ......................... — 0.01 0.02
Cumulative effect of accounting change........................ — — —
Net (loss) income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (0.52) $ 0.29 $ 1.60
See Accompanying Notes to Consolidated Financial Statements.