Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi Chegg, looking at the consolidated statements of earnings for Nordstrom, Inc., can you please tell what is the non-operating profit before tax (NOPBT) ,

Hi Chegg, looking at the consolidated statements of earnings for Nordstrom, Inc., can you please tell what is the non-operating profit before tax (NOPBT), pretax net nonoperating expense, and tax expense. Correct me if I am wrong, but I believe (interest expense, net) is the pretax net nonoperating expense and (income tax expense) is the tax expense. I believe NOPBT includes net sales, credit card revenues, cost of sales and related buying and occupancy costs, but I am not sure if it includes retail and credit. I am not 100% sure if I am right, so please help me for all three. It would help me a lot.

Nordstrom, Inc. Consolidated Statements of Earnings

For Fiscal Years Ended ($ millions)

2013

2012

2011

Net Sales

$11,762

$10,497

$9,310

Credit card revenues

386

380

390

Total revenues

12,148

10,877

9,700

Cost of sales and related buying and occupancy costs

(7,432)

(6,592)

(5,897)

Selling, general and administrative expenses

Retail

(3,166)

(2,807)

(2,412)

Credit

(205)

(229)

(273)

Earnings before interest and income taxes

1,345

1,249

1,118

Interest expense, net

(160)

(130)

(127)

Earnings before income taxes

1,185

1,119

991

Income tax expense

(450)

(436)

(378)

Net earnings

$ 735

$ 683

$ 613

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions