4. Market Based Ratios. 10 points a. Price to Earnings Ratios. b. Market Price to Book value Ratio CONSOLIDATED BALANCE SHEETS ($ in millions, except per share data) Assets Current assets: Cash in banks and in transit Cash short-term investments Cash and cash equivalents Merchandise inventory Prepaid expenses and other Total current assets Property and equipment, net Operating lease assets Prepaid pension Other assets Total Assets Liabilities and Stockholders' Equity Current liabilities: Merchandise accounts payable Other accounts payable and accrued expenses Current operating lease liabilities Current portion of finance leases and note payable Current maturities of long-term debt Total current liabilities Noncurrent operating lease liabilities Long-term finance leases and note payable Long-term debt Deferred taxes Other liabilities Total Liabilities Stockholders' Equity Common stock (1) Additional paid-in capital Reinvested earnings/ (accumulated deficit) Accumulated other comprehensive income/(loss) Total Stockholders' Equity Total Liabilities and Stockholders' Equity 2019 2018 $ 108 S 109 278 224 386 333 2,166 2,437 174 189 2,726 2,959 3,488 3,938 998 120 147 657 677 S 7,989 S 7,721 S 786 S 847 931 995 67 I 8 147 92 1,932 1,942 1,108 204 3,574 3,716 116 131 430 558 7,160 6,551 160 158 4,723 4,713 (3,667) (3,373) (387) (328) 829 1.170 7,989 S 7.721 sults of operations for 2019 and 2018: 2019 ($ in millions, except EPS) First Quarter Second Quarter Third Quarter Fourth Quarter Total net sales S 2,439 $ 2,509 $ 2,384 Credit income and other 116 110 116 Total revenues 2.555 2,619 2,500 3.384 109 3.493 Cost of goods sold (exclusive of depreciation and amortization) 1,630 1,585 1,541 SG&A expenses 856 870 854 Restructuring and management transition (1) 20 7 9 Net income/(loss) Diluted camnings/(loss) per share (2) 2018 (S in millions, except EPS) (154) (48) (93) S (0.48) S (0.15) S (0.29) $ 2.257 1,005 12 27 0.08 First Quarter Second Quarter Third Quarter Fourth Quarter Total net sales 2.584 $ 2,762 S 2,653 $ 3,665 Credit income and other 87 167 80 121 Total revenues 2,671 2.829 2,733 3,786 Cost of goods sold (exclusive of depreciation and amortization) 1,712 1,831 1,808 2,519 SG&A expenses 826 880 883 1,007 Restructuring and management transition (3) 7 2 11 2 Net income/(loss) (78) (101) (151) 75 Diluted eamings/(loss) per share (2) S (0.25) S (0.32) S (0.48) S 0.24 (1) Restructuring and management transition charges (Note 18) by quarter for 2019 consisted of the following: (S in million) Home office and stores Management transition Total First Quarter Second Quarter S 19 $ S 20 $ 7 $ Third Quarter Fourth Quarter 8 12 19 (2) EPS is computed independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of changes in average quarterly shares outstanding. (3) Restructuring and management transition charges (Note 18) by quarter for 2018 consisted of the following: (S in millions) Home office and stores Management transition Total First Quarter S Second Quarter Third Quarter Fourth Quarter 12