Neiman Marcus 2007 Annual Report Download - page 125

Table of Contents
The following tables set forth the information for our reportable segments:
(Successor) (Predecessor)
(in thousands)
Fiscal year
ended
August 2,
2008
Fiscal year
ended
July 28,
2007
Forty-three
weeks ended
July 29,
2006
Nine weeks
ended
October 1,
2005
REVENUES
Specialty Retail stores $ 3,853,074 $ 3,674,600 $ 2,829,967 $ 544,857
Direct Marketing 747,462 715,476 567,771 87,515
Total $ 4,600,536 $ 4,390,076 $ 3,397,738 $ 632,372
OPERATING EARNINGS
Specialty Retail stores $ 476,724 $ 490,564 $ 312,296 $ 91,372
Direct Marketing 117,657 116,042 89,967 8,246
Subtotal 594,381 606,606 402,263 99,618
Corporate expenses (56,944) (56,229) (49,504) (5,811)
Amortization of customer lists and favorable lease
commitments (72,192) (72,265) (59,640) —
Non-cash items related to other valuation adjustments
made in connection with the Acquisition — — (34,411) —
Other income (expense), net (1) 1,189 (1,309)— (23,544)
Total $ 466,434 $ 476,803 $ 258,708 $ 70,263
CAPITAL EXPENDITURES
Specialty Retail stores $ 164,640 $ 124,402 $ 123,693 $ 22,784
Direct Marketing 18,812 23,475 14,519 2,791
Total $ 183,452 $ 147,877 $ 138,212 $ 25,575
DEPRECIATION EXPENSE
Specialty Retail stores $ 127,186 $ 118,126 $ 93,599 $ 17,313
Direct Marketing 16,801 13,671 9,580 1,896
Subtotal 143,987 131,797 103,179 19,209
Depreciation expense on step-up of fixed assets made in
connection with the Acquisition 4,424 4,671 3,771 —
Total $ 148,411 $ 136,468 $ 106,950 $ 19,209
(Successor)
August 2,
2008
July 28,
2007
ASSETS
Tangible assets of Specialty Retail stores $ 2,020,557 $ 1,928,889
Tangible assets of Direct Marketing 173,265 167,541
Corporate assets:
Intangible assets related to Specialty Retail stores 3,519,045 3,571,660
Intangible assets related to Direct Marketing 523,572 568,359
Other 346,481 264,550
Total $ 6,582,920 $ 6,500,999
(1) For fiscal year 2008, other income (expense), net includes 1) a one-time pension curtailment gain of $32.5 million as a result
of our decision to freeze certain Pension and SERP benefits as of December 31, 2007, offset by 2) $31.3 million pretax impairment
charge related to the writedown to fair value of the net carrying value of the Horchow tradename.
For fiscal year 2007, other income (expense), net includes 1) $11.5 million pretax impairment charge related to the writedown to fair value
of the net carrying value of the Horchow tradename, offset by 2) $4.2 million of other income we received in connection with the merger of Wedding
Channel.com, in which we held a minority interest, and The Knot and 3) $6.0M of other income related to aged, non-escheatable gift cards.
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