Question
Nordstrom, Inc. Consolidated Statements of Earnings For Fiscal Years Ended ($ millions) 2013 2012 2011 Net Sales $11,762 $10,497 $9,310 Credit card revenues 386 380
Nordstrom, Inc. Consolidated Statements of Earnings | |||
---|---|---|---|
For Fiscal Years Ended ($ 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 |
Nordstrom, Inc. Consolidated Balance Sheets | ||
---|---|---|
($ millions) | February 2, 2013 | January 28, 2012 |
Assets | ||
Current assets | ||
Cash and cash equivalents | $ 1,285 | $ 1,877 |
Accounts receivable, net | 2,129 | 2,033 |
Merchandise inventories | 1,360 | 1,148 |
Current deferred tax assets, net | 227 | 220 |
Prepaid expenses and other | 80 | 282 |
Total current assets | 5,081 | 5,560 |
Land, buildings and equipment, net | 2,579 | 2,469 |
Goodwill | 175 | 175 |
Other assets | 254 | 287 |
Total assets | $ 8,089 | $ 8,491 |
Liabilities and equity | ||
Current liabilities | ||
Accounts payable | $ 1,011 | $ 917 |
Accrued salaries, wages and related benefits | 404 | 388 |
Other current liabilities | 804 | 764 |
Current portion of long-term debt | 7 | 506 |
Total current liabilities | 2,226 | 2,575 |
Long-term debt, net | 3,124 | 3,141 |
Deferred income taxes and other liabilities | 485 | 500 |
Other liabilities | 341 | 319 |
Shareholders equity | ||
Common stock, no par value: 1,000 shares authorized; | 1,645 | 1,484 |
197.0 and 207.6 shares issued and outstanding | ||
Retained earnings | 315 | 517 |
Accumulated other comprehensive loss | (47) | (45) |
Total shareholders equity | 1,913 | 1,956 |
Total liabilities and shareholders equity | $ 8,089 | $ 8,491 |
-Compute RNOA, net operating profit margin (NOPM) and net operating asset turnover (NOAT) for 2013. Do not use NOPM x NOAT to calulate RNOA. (Do not round until your final answer. Round answer to two decimal places.) 2013 RNOA = 2013 NOPM = 2013 NOAT = Compute net nonoperating obligations (NNO) for 2013 and 2012. 2013 NNO = 2012 NNO = Compute return on equity (ROE) for 2013. (Round answer to two decimal places.) 2013 ROE = Infer the nonoperating return component of ROE for 2013. (Use above answers to calculate. Round answer to two decimal places.) 2013 nonoperating return =
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