For the Sears Company, provide a brief detail of the one-time charges included in the income statement. What do these charges inform the reader regarding the ongoing survival of the company? Since sale of assets are included in all four of the most recent year financial statements what does this inform the reader? ALL INFO NEEDED IS BELOW..

Jan. 30, 2016 Jan. 31, 2015 Feb. 01, 2014 $ 25,146 [1],[2] $ 31,198 [1],[2] $36,188 19,336 6,857 422 274 (743) 26,146 (1,000) (323) 24,049 8,220 581 63 (207) 32,706 (1,508) (313) 132 Consolidated Statements of Operations - USD ($) shares in 12 Months Ended Millions, $ in Millions Jan. 28, 2017 REVENUES Merchandise sales and services $ 22,138 [1],[2] COSTS AND EXPENSES Cost of sales, buying and occupancy [1],[3] 17,452 Selling and administrative 6,109 Depreciation and amortization 375 Impairment charges 427 Gain on sales of assets (247) Total costs and expenses 24,116 Operating loss (1,978) Interest expense (404) Interest and investment income (loss) (26) Other income 13 Loss before income taxes (2,395) Income tax (expense) benefit 174 Net loss (2,221) (Income) loss attributable to noncontrolling interests NET LOSS ATTRIBUTABLE TO HOLDINGS' SHAREHOLDERS $(2,221) NET LOSS PER COMMON SHARE ATTRIBUTABLE TO HOLDINGS' SHAREHOLDERS Basic loss per share (in USD per share) $ (20.78) Diluted loss per share (in USD per share) $(20.78) Basic weighted average common shares outstanding in 106.9 shares) Diluted weighted average common shares outstanding (in 106.9 shares) 27,433 9,384 732 233 (667) 37,115 (927) (254) 207 2 (972) (144) (1,116) (249) $(1,365) (62) 0 (1,385) 257 (1,128) (1,685) (125) (1,810) 128 $(1,682) $(1,129) $(10.59) $(10.59) 106.6 $ (15.82) $(15.82) 106.3 $ (12.87) $(12.87) 106.1 106.6 106.3 106.1 Includes merchandise sales to Sears Hometown and Outlet Stores, Inc. Includes revenue from Lands' End, Inc. ("Lands' End") for retail services Includes rent expense (consisting of straight-line rent expense offset by [3] Jan. 28, 2017 Jan. 30, 2016 Consolidated Balance Sheets - USD ($) Current assets Cash and cash equivalents $ 286 $ 238 419 Accounts receivable Merchandise inventories 466 3,959 5,172 Includes $81 million and $51 million at January 28, 2017 and January 30, 2016, respectively, of net amounts receivable from SHO, and $14 million and $7 million of amounts receivable from Seritage at January 28, 2017 and January 30, 2016, respectively. Includes $9 million of prepaid rent to Seritage at January 30, 2016. Includes balances held by related parties of $216 million at January 28, 2017 related to our 2016 Secured Loan Facility. Includes $1 million and $1 million of net amounts payable to Lands' End at January 28, 2017 and January 30, 2016, respectively, and $11 million of amounts payable to Seritage at January 28, 2017. Includes balances held by related parties of $1.7 billion and $603 million at January 28, 2017 and January 30, 2016, respectively, related to our Senior Secured Notes, Subsidiary Notes, Senior Unsecured Notes, Second Lien Term Loan, 2016 Term Loan and 2017 Secured Loan Facility. See Note 15 for further Prepaid expenses and other current assets 285 216 Total current assets 4,996 6,045 Property and equipment Land Buildings and improvements 770 827 3,140 DEFICIT Preferred stock, 20 shares authorized; no shares outstanding 2,954 Furniture, fixtures and equipment 1,133 1,352 Common stock $0.01 par value; 500 shares authorized; 107 and 107 shares outstanding, respectively 224 5,081 (2,841) 2,240 269 1,521 336 9,362 272 5,591 (2,960) 2,631 269 1,909 483 11,337 Treasury stock-at cost Capital in excess of par value Retained deficit Accumulated other comprehensive loss Total Sears Holdings Corporation deficit Noncontrolling interest Total Deficit TOTAL LIABILITIES AND DEFICIT (5,891) 9,130 (5,512) (1,552) (3,824) (5,928) 9,173 (3,291) (1,918) (1,963) (3,824) $ 9,362 (1,956) $ 11,337 797 (3) 71 Capital leases Gross property and equipment Less accumulated depreciation and amortization Total property and equipment, net Goodwill Trade names and other intangible assets Other assets TOTAL ASSETS Current liabilities Short-term borrowings Current portion of long-term debt and capitalized lease obligations Merchandise payables Other current liabilities Unearned revenues Other taxes Total current liabilities Long-term debt and capitalized lease obligations Pension and postretirement benefits Deferred gain on sale-leaseback Sale-leaseback financing obligation Other long-term liabilities Long-term deferred tax liabilities Total Liabilities Commitments and contingencies 590 1,048 1,956 748 339 4,681 3,573 1,574 1,925 787 284 1,750 563 235 1,641 743 13,186 5,438 2,108 2,206 753 164 1,731 893 13,293 A C D E F G H M N U PU R S 12 Months Ended Consolidated Statements of Cash Flows - USD ($) $ in Millions CASH FLOWS FROM FINANCING ACTIVITIES Jan. 28, 2017 Jan. 30, 2016 Jan. 31, 2015 Feb. 01, 2014 1,025 [3] $ (2,221) $ (1,128) $ (1,810) $ (1,116) 2,028 [3] (66) (797) 0 (1,405) [4] 583 (80) 994 (83) 238 Proceeds from debt issuances Repayments of debt Increase (decrease) in short-term borrowings, primarily 90 days or less Proceeds from sale-leaseback financing Lands' End, Inc. pre-separation funding (1,117) 217 71 CASH FLOWS FROM OPERATING ACTIVITIES Net loss Adjustments to reconcile net loss to net cash used in operating activities: Deferred tax valuation allowance Tax benefit resulting from Other Comprehensive Income allocation Depreciation and amortization Impairment charges Gain on sales of assets 508 [1] 836 (71) 835 0 720 (97) 515 581 732 0 375 427 (247) 422 274 (743) (31) (27) 63 (51) (50) 233 (667) (14) (233) (207) (105) 1,185 (364) Gain on sales of investments Pension and postretirement plan contributions 0 (334) 0 (311) (169) (426) Separation of Lands' End, Inc. Debt issuance costs Sears Canada dividends paid to noncontrolling interests Net cash provided by (used in) financing activities Effect of exchange rate changes on cash and cash equivalents NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR CASH AND CASH EQUIVALENTS, END OF PERIOD 285 (3) 902 (38) (450) 0 Mark-to-market adjustments of financial instruments 15 66 (12) (778) 419 (88) 250 238 1,028 250 609 1,028 SUPPLEMENTAL INFORMATION: Capital lease obligation incurred 31 Amortization of deferred gain on sale-leaseback Amortization of debt issuance costs and accretion of debt discount Settlement of Canadian dollar hedges Change in operating assets and liabilities (net of acquisitions and dispositions): Deferred income taxes Merchandise inventories Merchandise payables Income and other taxes (987) 1,213 (526) 80 (519) (229) (47) (95) (719) 1,091 (528) (110) (441) 446 (230) 63 Supplemental Cash Flow Data: Income taxes paid, net of refunds Cash interest paid Unpaid liability to acquire equipment and software [5] 275 $ 18 45 252 $ 27 119 230 $ 25 21 206 $ 41 54 (66) (52) 118 (1,381) (5) (136) (2,167) (210) (1,109) (1,387) 386 2,730 [1] 424 995 Other operating assets Other operating liabilities Net cash used in operating activities CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from sales of property and investments Net increase in investments and restricted cash Purchases of property and equipment De-consolidation of Sears Canada cash Proceeds from Sears Canada rights offering Net cash provided by investing activities Holdings received cash proceeds of $2.7 billion ($2.6 billion, net of closing costs) Includes proceeds of $212 million received from ESL and its affiliates and $93 million Proceeds in 2016 and 2014, respectively, include amounts from related parties of Repayments in 2015 include $400 million of the Secured Short-Term Loan with related Cash interest paid includes $94 million, $83 million and $30 million interest paid to (2) (211) (329) (142) 0 (270) (207) 380 [2] 327 244 2,519 664 Jan. 30, 2016 Jan. 31, 2015 Feb. 01, 2014 $ 25,146 [1],[2] $ 31,198 [1],[2] $36,188 19,336 6,857 422 274 (743) 26,146 (1,000) (323) 24,049 8,220 581 63 (207) 32,706 (1,508) (313) 132 Consolidated Statements of Operations - USD ($) shares in 12 Months Ended Millions, $ in Millions Jan. 28, 2017 REVENUES Merchandise sales and services $ 22,138 [1],[2] COSTS AND EXPENSES Cost of sales, buying and occupancy [1],[3] 17,452 Selling and administrative 6,109 Depreciation and amortization 375 Impairment charges 427 Gain on sales of assets (247) Total costs and expenses 24,116 Operating loss (1,978) Interest expense (404) Interest and investment income (loss) (26) Other income 13 Loss before income taxes (2,395) Income tax (expense) benefit 174 Net loss (2,221) (Income) loss attributable to noncontrolling interests NET LOSS ATTRIBUTABLE TO HOLDINGS' SHAREHOLDERS $(2,221) NET LOSS PER COMMON SHARE ATTRIBUTABLE TO HOLDINGS' SHAREHOLDERS Basic loss per share (in USD per share) $ (20.78) Diluted loss per share (in USD per share) $(20.78) Basic weighted average common shares outstanding in 106.9 shares) Diluted weighted average common shares outstanding (in 106.9 shares) 27,433 9,384 732 233 (667) 37,115 (927) (254) 207 2 (972) (144) (1,116) (249) $(1,365) (62) 0 (1,385) 257 (1,128) (1,685) (125) (1,810) 128 $(1,682) $(1,129) $(10.59) $(10.59) 106.6 $ (15.82) $(15.82) 106.3 $ (12.87) $(12.87) 106.1 106.6 106.3 106.1 Includes merchandise sales to Sears Hometown and Outlet Stores, Inc. Includes revenue from Lands' End, Inc. ("Lands' End") for retail services Includes rent expense (consisting of straight-line rent expense offset by [3] Jan. 28, 2017 Jan. 30, 2016 Consolidated Balance Sheets - USD ($) Current assets Cash and cash equivalents $ 286 $ 238 419 Accounts receivable Merchandise inventories 466 3,959 5,172 Includes $81 million and $51 million at January 28, 2017 and January 30, 2016, respectively, of net amounts receivable from SHO, and $14 million and $7 million of amounts receivable from Seritage at January 28, 2017 and January 30, 2016, respectively. Includes $9 million of prepaid rent to Seritage at January 30, 2016. Includes balances held by related parties of $216 million at January 28, 2017 related to our 2016 Secured Loan Facility. Includes $1 million and $1 million of net amounts payable to Lands' End at January 28, 2017 and January 30, 2016, respectively, and $11 million of amounts payable to Seritage at January 28, 2017. Includes balances held by related parties of $1.7 billion and $603 million at January 28, 2017 and January 30, 2016, respectively, related to our Senior Secured Notes, Subsidiary Notes, Senior Unsecured Notes, Second Lien Term Loan, 2016 Term Loan and 2017 Secured Loan Facility. See Note 15 for further Prepaid expenses and other current assets 285 216 Total current assets 4,996 6,045 Property and equipment Land Buildings and improvements 770 827 3,140 DEFICIT Preferred stock, 20 shares authorized; no shares outstanding 2,954 Furniture, fixtures and equipment 1,133 1,352 Common stock $0.01 par value; 500 shares authorized; 107 and 107 shares outstanding, respectively 224 5,081 (2,841) 2,240 269 1,521 336 9,362 272 5,591 (2,960) 2,631 269 1,909 483 11,337 Treasury stock-at cost Capital in excess of par value Retained deficit Accumulated other comprehensive loss Total Sears Holdings Corporation deficit Noncontrolling interest Total Deficit TOTAL LIABILITIES AND DEFICIT (5,891) 9,130 (5,512) (1,552) (3,824) (5,928) 9,173 (3,291) (1,918) (1,963) (3,824) $ 9,362 (1,956) $ 11,337 797 (3) 71 Capital leases Gross property and equipment Less accumulated depreciation and amortization Total property and equipment, net Goodwill Trade names and other intangible assets Other assets TOTAL ASSETS Current liabilities Short-term borrowings Current portion of long-term debt and capitalized lease obligations Merchandise payables Other current liabilities Unearned revenues Other taxes Total current liabilities Long-term debt and capitalized lease obligations Pension and postretirement benefits Deferred gain on sale-leaseback Sale-leaseback financing obligation Other long-term liabilities Long-term deferred tax liabilities Total Liabilities Commitments and contingencies 590 1,048 1,956 748 339 4,681 3,573 1,574 1,925 787 284 1,750 563 235 1,641 743 13,186 5,438 2,108 2,206 753 164 1,731 893 13,293 A C D E F G H M N U PU R S 12 Months Ended Consolidated Statements of Cash Flows - USD ($) $ in Millions CASH FLOWS FROM FINANCING ACTIVITIES Jan. 28, 2017 Jan. 30, 2016 Jan. 31, 2015 Feb. 01, 2014 1,025 [3] $ (2,221) $ (1,128) $ (1,810) $ (1,116) 2,028 [3] (66) (797) 0 (1,405) [4] 583 (80) 994 (83) 238 Proceeds from debt issuances Repayments of debt Increase (decrease) in short-term borrowings, primarily 90 days or less Proceeds from sale-leaseback financing Lands' End, Inc. pre-separation funding (1,117) 217 71 CASH FLOWS FROM OPERATING ACTIVITIES Net loss Adjustments to reconcile net loss to net cash used in operating activities: Deferred tax valuation allowance Tax benefit resulting from Other Comprehensive Income allocation Depreciation and amortization Impairment charges Gain on sales of assets 508 [1] 836 (71) 835 0 720 (97) 515 581 732 0 375 427 (247) 422 274 (743) (31) (27) 63 (51) (50) 233 (667) (14) (233) (207) (105) 1,185 (364) Gain on sales of investments Pension and postretirement plan contributions 0 (334) 0 (311) (169) (426) Separation of Lands' End, Inc. Debt issuance costs Sears Canada dividends paid to noncontrolling interests Net cash provided by (used in) financing activities Effect of exchange rate changes on cash and cash equivalents NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR CASH AND CASH EQUIVALENTS, END OF PERIOD 285 (3) 902 (38) (450) 0 Mark-to-market adjustments of financial instruments 15 66 (12) (778) 419 (88) 250 238 1,028 250 609 1,028 SUPPLEMENTAL INFORMATION: Capital lease obligation incurred 31 Amortization of deferred gain on sale-leaseback Amortization of debt issuance costs and accretion of debt discount Settlement of Canadian dollar hedges Change in operating assets and liabilities (net of acquisitions and dispositions): Deferred income taxes Merchandise inventories Merchandise payables Income and other taxes (987) 1,213 (526) 80 (519) (229) (47) (95) (719) 1,091 (528) (110) (441) 446 (230) 63 Supplemental Cash Flow Data: Income taxes paid, net of refunds Cash interest paid Unpaid liability to acquire equipment and software [5] 275 $ 18 45 252 $ 27 119 230 $ 25 21 206 $ 41 54 (66) (52) 118 (1,381) (5) (136) (2,167) (210) (1,109) (1,387) 386 2,730 [1] 424 995 Other operating assets Other operating liabilities Net cash used in operating activities CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from sales of property and investments Net increase in investments and restricted cash Purchases of property and equipment De-consolidation of Sears Canada cash Proceeds from Sears Canada rights offering Net cash provided by investing activities Holdings received cash proceeds of $2.7 billion ($2.6 billion, net of closing costs) Includes proceeds of $212 million received from ESL and its affiliates and $93 million Proceeds in 2016 and 2014, respectively, include amounts from related parties of Repayments in 2015 include $400 million of the Secured Short-Term Loan with related Cash interest paid includes $94 million, $83 million and $30 million interest paid to (2) (211) (329) (142) 0 (270) (207) 380 [2] 327 244 2,519 664