EX-99.A 2 a05-17091_1ex99da.htm EX-99.A

Exhibit 99(A)

 

 

CONSOLIDATED RESULTS OF OPERATIONS

 

 

 

Three Months Ended

 

Year Ended

 

(Millions, except per share data)

 

May 4

2002

,

August 3

2002

,

November 2

2002

,

February 1

2003

,

February 1

2003

,

 

 

(unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales

 

$

7,927

 

$

8,390

 

$

8,364

 

$

11,838

 

$

36,519

 

Net credit revenues

 

180

 

202

 

236

 

273

 

891

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenues

 

8,107

 

8,592

 

8,600

 

12,111

 

37,410

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

5,478

 

5,801

 

5,820

 

8,399

 

25,498

 

Selling, general and administrative expense

 

1,678

 

1,794

 

1,879

 

2,154

 

7,505

 

Credit expense

 

131

 

142

 

165

 

191

 

629

 

Depreciation and amortization

 

229

 

237

 

247

 

254

 

967

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings from continuing operations before interest expense and income taxes

 

591

 

618

 

489

 

1,113

 

2,811

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

135

 

153

 

143

 

153

 

584

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings from continuing operations before income taxes

 

456

 

465

 

346

 

960

 

2,227

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for income taxes

 

173

 

179

 

132

 

367

 

851

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings from continuing operations

 

283

 

286

 

214

 

593

 

1,376

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings from discontinued operations, net of $33, $31, $34, $54 and $152 tax

 

54

 

50

 

56

 

87

 

247

 

Gain on disposal of discontinued operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings

 

$

337

 

$

336

 

$

270

 

$

680

 

$

1,623

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share:

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.31

 

$

0.32

 

$

0.24

 

$

0.65

 

$

1.52

 

Discontinued operations

 

0.06

 

0.05

 

0.06

 

0.10

 

0.27

 

Gain on disposal of discontinued operations

 

 

 

 

 

 

Basic earnings per share

 

$

0.37

 

$

0.37

 

$

0.30

 

$

0.75

 

$

1.79

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.31

 

$

0.32

 

$

0.23

 

$

0.65

 

$

1.51

 

Discontinued operations

 

0.06

 

0.05

 

0.06

 

0.09

 

0.27

 

Gain on disposal of discontinued operations

 

 

 

 

 

 

Diluted earnings per share

 

$

0.37

 

$

0.37

 

$

0.29

 

$

0.74

 

$

1.78

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

Basic

 

906.4

 

907.9

 

908.5

 

909.3

 

908.0

 

Diluted

 

914.1

 

913.4

 

914.9

 

914.9

 

914.3