Supplemental Operating Results
(Dollars in millions, except per share data)
|
| |
|
2008 |
|
2007 |
|
 |
| Net sales |
|
$ 24,892 |
|
$ 26,313 |
|
|
| Operating income (loss) |
|
$ (4,378 |
) |
$ 1,863 |
|
|
| Percent to sales |
|
(17.6 |
%) |
7.1 |
% |
|
| Add back impact of division consolidation costs and store closing related costs |
|
187 |
|
- |
|
|
| Add back impact of asset impairment charges |
|
211 |
|
- |
|
|
| Add back impact of goodwill impairment charges |
|
5,382 |
|
- |
|
|
| Add back impact of May integration costs |
|
- |
|
219 |
|
|
| Operating income, excluding certain items |
|
$1,402 |
|
$2,082 |
|
|
| Percent to sales |
|
5.6 |
% |
7.9 |
% |
|
|
| Diluted earnings (loss) per share from continuing operations |
|
$(11.40 |
) |
$2.01 |
|
|
| Deduct impact of dilutive securities - stock options and restricted stock |
|
(0.01) |
|
- |
|
|
| Add back impact of division consolidation costs and store closing related costs |
|
0.28 |
|
- |
|
|
| Add back impact of asset impairment charges |
|
0.32 |
|
- |
|
|
| Add back impact of goodwill impairment charges |
|
12.07 |
|
- |
|
|
| Add back impact of May integration costs |
|
- |
|
0.31 |
|
|
| Deduct impact of federal income tax examination settlements |
|
- |
|
(0.17 |
) |
|
| Diluted earnings per share, excluding certain items |
|
$1.26 |
|
$2.15 |
|
|
|
| Net cash provided by continuing operating activities |
|
$1,879 |
|
$2,231 |
|
|
| Net cash used by continuing investing activities |
|
(791 |
) |
(789 |
) |
|
| Deduct proceeds from the disposition of property and equipment |
|
(38 |
) |
(227 |
) |
|
| Deduct proceeds from the disposition of discontinued operations |
|
- |
|
(66 |
) |
|
Cash flow from continuing operating activities net of cash used in
continuing investing activities, excluding certain items |
|
$1,050 |
|
$1,149 |
|
|
The foregoing measures of earnings, including non-GAAP measures that exclude
certain items, should be read in conjunction with the audited financial statements, including the
related notes and other financial information contained in the Form 10-K for the period ended January
31, 2009.
|
|