Foot Locker 2010 Annual Report Download - page 31

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Item 6. Selected Financial Data
FIVE-YEAR SUMMARY OF SELECTED FINANCIAL DATA
The selected financial data below should be read in conjunction with the Consolidated Financial Statements
and the Notes thereto and other information contained elsewhere in this report.
($ in millions, except per share amounts) 2010 2009 2008 2007 2006
(1)
Summary of Continuing Operations
Sales ..................................... $5,049 4,854 5,237 5,437 5,750
Gross margin ............................... 1,516 1,332 1,460 1,420 1,736
Selling, general, and administrative expenses .......... 1,138 1,099 1,174 1,176 1,163
Impairment and other charges .................... 10 41 259 128 17
Depreciation and amortization .................... 106 112 130 166 175
Interest expense, net .......................... 9 10 5 1 3
Other income ............................... (4) (3) (8) (1) (14)
Income (loss) from continuing operations ............ 169 47 (79) 43 247
Cumulative effect of accounting change
(2)
............ — — — — 1
Basic earnings per share from continuing operations ..... 1.08 0.30 (0.52) 0.29 1.59
Basic earnings per share from cumulative effect of
accounting change
(2)
........................ — — — — 0.01
Diluted earnings per share from continuing operations .... 1.07 0.30 (0.52) 0.28 1.58
Diluted earnings per share from cumulative effect of
accounting change
(2)
........................ — — — — —
Common stock dividends declared per share ........... 0.60 0.60 0.60 0.50 0.40
Weighted-average common shares outstanding (in millions) 155.7 156.0 154.0 154.0 155.0
Weighted-average common shares outstanding assuming
dilution (in millions) ........................ 156.7 156.3 154.0 155.6 156.8
Financial Condition
Cash, cash equivalents, and short-term investments ...... $ 696 589 408 493 470
Merchandise inventories ........................ 1,059 1,037 1,120 1,281 1,303
Property and equipment, net ..................... 386 387 432 521 654
Total assets ................................ 2,896 2,816 2,877 3,243 3,249
Long-term debt and obligations under capital leases ..... 137 138 142 221 234
Total shareholders’ equity ....................... 2,025 1,948 1,924 2,261 2,295
Financial Ratios
Operating profit (loss) asa%ofsales ............... 5.2% 1.6 (2.0) (0.9) 6.6
Earnings before interest and taxes ................. $ 266 83 (95) (49) 395
Income (loss) from continuing operations asa%ofsales . . 3.3% 1.0 (1.5) 0.8 4.3
Return on assets (ROA) ......................... 5.9% 1.7 (2.6) 1.3 7.5
Net debt capitalization percent
(3)
.................. 39.0% 43.0 46.7 45.1 44.4
Current ratio ............................... 4.0 4.1 4.2 4.0 3.9
Sales per average gross square foot
(4)
............... $ 360 333 350 352 372
Other Data
Capital expenditures .......................... $ 97 89 146 148 165
Number of stores at year end ..................... 3,426 3,500 3,641 3,785 3,942
Total selling square footage at year end (in millions) ..... 7.54 7.74 8.09 8.50 8.74
Total gross square footage at year end (in millions) ...... 12.64 12.96 13.50 14.12 14.55
(1) 2006 represents the 53 weeks ended February 3, 2007.
(2) 2006 relates to the adoption of authoritative accounting guidance for share-based compensation.
(3) Represents total debt, net of cash, cash equivalents, and short-term investments and includes the effect of interest rate swaps. The
effect of interest rate swaps increased/(decreased) debt by $17 million, $18 million, $19 million, $4 million, and $(4) million, at
January 29, 2011, January 30, 2010, January 31, 2009, February 2, 2008, and February 3, 2007, respectively. Additionally, this calculation
includes the present value of operating leases, and accordingly is considered a non-GAAP measure.
(4) Calculated as Athletic Store sales divided by the average monthly ending gross square footage of the last thirteen months.
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