Neiman Marcus 2012 Annual Report Download - page 132
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Table of Contents
Fiscal year ended August 3, 2013
(in thousands) Company NMG
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Revenues $ — $ 3,875,580 $772,669 $ — $ 4,648,249
Cost of goods sold including buying and occupancy
costs (excluding depreciation) — 2,500,640 494,723 —2,995,363
Selling, general and administrative expenses (excluding
depreciation) —921,850 135,946 —1,057,796
Income from credit card program — (48,635) (4,738) — (53,373)
Depreciation expense —127,606 13,909 —141,515
Amortization of intangible assets and favorable lease
commitments —35,092 12,344 —47,436
Equity in loss of foreign e-commerce retailer — — 13,125 —13,125
Operating earnings —339,027 107,360 —446,387
Interest expense, net —168,952 3—168,955
Intercompany royalty charges (income) — 130,459 (130,459) — —
Equity in (earnings) loss of subsidiaries (163,699) (237,816) — 401,515 —
Earnings (loss) before income taxes 163,699 277,432 237,816 (401,515) 277,432
Income tax expense —113,733 — — 113,733
Net earnings (loss) $163,699 $163,699 $237,816 $ (401,515) $ 163,699
Total other comprehensive earnings (loss), net of tax 41,263 41,263 — (41,263) 41,263
Total comprehensive earnings (loss) $204,962 $204,962 $237,816 $(442,778)$204,962
Fiscal year ended July 28, 2012
(in thousands) Company NMG
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Revenues $ — $ 3,607,190 $738,184 $ — $ 4,345,374
Cost of goods sold including buying and occupancy
costs (excluding depreciation) —2,319,516 475,197 —2,794,713
Selling, general and administrative expenses (excluding
depreciation) —890,677 126,225 —1,016,902
Income from credit card program —(46,957)(4,614) — (51,571)
Depreciation expense —116,142 13,977 —130,119
Amortization of intangible assets and favorable lease
commitments —37,224 12,899 — 50,123
Equity in loss of foreign e-commerce retailer — — 1,514 —1,514
Operating earnings —290,588 112,986 —403,574
Interest expense, net —175,232 5 — 175,237
Intercompany royalty charges (income) —204,181 (204,181) — —
Equity in (earnings) loss of subsidiaries (140,086) (317,162) — 457,248 —
Earnings (loss) before income taxes 140,086 228,337 317,162 (457,248)228,337
Income tax expense —88,251 — — 88,251
Net earnings (loss) $140,086 $140,086 $317,162 $(457,248) $ 140,086
Total other comprehensive (loss) earnings, net of tax (75,747) (75,747) — 75,747 (75,747)
Total comprehensive earnings (loss) $ 64,339 $ 64,339 $ 317,162 $(381,501)$ 64,339
F-38