EX-99.A 2 a05-17091_4ex99da.htm EX-99.A

Exhibit 99(A)

 

 

CONSOLIDATED RESULTS OF OPERATIONS

 

 

 

Three Months Ended

 

Year Ended

 

(Millions, except per share data)

 

May 3

2003

,

August 2

2003

,

November 1

2003

,

January 31

2004

,

January 31

2004

,

 

 

(unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales

 

$

8,663

 

$

9,324

 

$

9,552

 

$

13,389

 

$

40,928

 

Net credit revenues

 

265

 

270

 

275

 

287

 

1,097

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenues

 

8,928

 

9,594

 

9,827

 

13,676

 

42,025

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

5,957

 

6,450

 

6,643

 

9,339

 

28,389

 

Selling, general and administrative expense

 

1,889

 

2,022

 

2,178

 

2,568

 

8,657

 

Credit expense

 

175

 

175

 

180

 

192

 

722

 

Depreciation and amortization

 

261

 

274

 

277

 

286

 

1,098

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings from continuing operations before interest expense and income taxes

 

646

 

673

 

549

 

1,291

 

3,159

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

142

 

154

 

131

 

129

 

556

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings from continuing operations before income taxes

 

504

 

519

 

418

 

1,162

 

2,603

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for income taxes

 

191

 

197

 

156

 

440

 

984

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings from continuing operations

 

313

 

322

 

262

 

722

 

1,619

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings from discontinued operations, net of $18, $18, $18, $62 and $116 tax

 

29

 

29

 

31

 

101

 

190

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings

 

$

342

 

$

351

 

$

293

 

$

823

 

$

1,809

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share:

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.34

 

$

0.35

 

$

0.29

 

$

0.79

 

$

1.78

 

Discontinued operations

 

0.03

 

0.03

 

0.03

 

0.11

 

0.21

 

Gain on disposal of discontinued operations

 

 

 

 

 

 

Basic earnings per share

 

$

0.37

 

$

0.38

 

$

0.32

 

$

0.90

 

$

1.99

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.34

 

$

0.35

 

$

0.29

 

$

0.79

 

$

1.76

 

Discontinued operations

 

0.03

 

0.03

 

0.03

 

0.11

 

0.21

 

Gain on disposal of discontinued operations

 

 

 

 

 

 

Diluted earnings per share

 

$

0.37

 

$

0.38

 

$

0.32

 

$

0.90

 

$

1.97

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

Basic

 

910.3

 

910.8

 

911.3

 

911.6

 

911.0

 

Diluted

 

916.1

 

921.9

 

921.0

 

918.0

 

919.2