EX-99 5 earningstables.txt EARNINGS TABLES Exhibit 99.1 JCPenney Company, Inc. 2003 Quarterly Consolidated Balance Sheets Reflecting Eckerd and Mexico as Discontinued Operations ($ in millions) Apr 26, Jul 26, Oct 25, Jan 31, 2003 2003 2003 2004* ------ ------ ------ ------ ASSETS Current Assets Cash and Short-Term Investments $ 2,629 $ 2,617 $ 1,921 $ 2,994 Receivables (net of bad debt reserves of $4, $5, $4 and $5) 295 267 417 233 Inventory, (net of LIFO reserves of $49, $49, $49 and $43) 3,326 3,343 4,194 3,156 Prepaid Expenses 100 104 140 130 ------ ------ ------ ------ Total Current Assets 6,350 6,331 6,672 6,513 Property and Equipment, Net 3,519 3,498 3,490 3,515 Prepaid Pension 1,123 1,111 1,381 1,320 Goodwill 36 42 41 42 Other Assets 503 522 519 556 Assets of Discontinued Operations 6,706 6,840 6,973 6,354 ------ ------ ------ ------ Total Assets $ 18,237 $ 18,344 $ 19,076 $ 18,300 ========== ========= ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts Payable and Accrued Expenses $ 2,042 $ 2,026 $ 2,655 $ 2,551 Short-Term Debt 23 25 29 18 Current Maturities of Long-Term Debt 278 626 485 242 Deferred taxes 22 21 106 943 ------ ------ ------ ------ Total Current Liabilities 2,365 2,698 3,275 3,754 Long-Term Debt 5,505 5,128 5,103 5,114 Deferred Taxes 1,201 1,207 1,330 1,217 Other Liabilities 779 778 779 804 Liabilities of Discontinued Operations 1,925 2,091 2,086 1,986 ------ ------ ------ ------ Total Liabilities 11,775 11,902 12,573 12,875 Stockholders' Equity 6,462 6,442 6,503 5,425 ------ ------ ------ ------ Total Liabilities & Stockholders' Equity $ 18,237 $ 18,344 $ 19,076 $ 18,300 ========== ========= ======== ======== * As previously reported in the J. C. Penney Company, Inc. 2003 Annual Report on Form 10-K.
JCPenney Company, Inc. 2002 Quarterly Consolidated Balance Sheets Reflecting Eckerd and Mexico as Discontinued Operations ($ in millions) Apr 27, Jul 27, Oct 26, Jan 25, 2002 2002 2002 2003* ------ ------ ------ ------ ASSETS Current Assets Cash and Short-Term Investments $ 2,274 $ 2,004 $ 1,748 $ 2,474 Receivables (net of bad debt reserves of $5, $4, $3 and $4) 214 188 257 224 Inventory, (net of LIFO reserves of $43,$43, $43 and $49) 2,917 3,034 3,822 2,970 Prepaid Expenses 100 108 115 90 ------ ------ ------ ------ Total Current Assets 5,505 5,334 5,942 5,758 Property and Equipment, Net 3,694 3,655 3,617 3,604 Prepaid Pension 874 865 860 1,150 Goodwill 51 43 32 35 Other Assets 466 498 490 491 Assets of Discontinued Operations 6,792 6,708 6,920 6,749 ------ ------ ------ ------ Total Assets $ 17,382 $ 17,103 $ 17,861 $ 17,787 ======= ======= ====== ====== LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts Payable and Accrued Expenses $ 1,929 $ 2,014 $ 2,418 $ 2,274 Short-Term Debt 30 17 15 13 Current Maturities of Long-Term Debt 224 14 28 276 Deferred taxes 33 25 98 - Taxes Payable 122 - - - ------ ------ ------ ------ Total Current Liabilities 2,338 2,070 2,559 2,563 Long-Term Debt 5,136 5,139 5,135 4,897 Deferred Taxes 1,030 1,083 1,062 1,159 Other Liabilities 797 784 766 782 Liabilities of Discontinued Operations 1,836 1,864 2,121 2,016 Total Liabilities 11,137 10,940 11,643 11,417 ------ ------ ------ ------ Stockholders' Equity 6,245 6,163 6,218 6,370 ------ ------ ------ ------ Total Liabilities & Stockholders' Equity $ 17,382 $ 17,103 $ 17,861 $ 17,787 ======= ======= ====== ====== * As previously reported in the J. C. Penney Company, Inc. 2003 Annual Report on Form 10-K.
JCPenney Company, Inc. 2003 Quarterly Consolidated Statements of Cash Flows Reflecting Eckerd and Mexico as Discontinued Operations ($ in millions) 13 weeks 26 weeks 39 weeks 53 weeks ended ended ended ended 4/26/03 7/26/03 10/25/03 1/31/04* Cash Flows from Operating Activities: Income from Continuing Operations $ 20 $ 17 $ 111 $ 364 Adjustments to Reconcile Income from Continuing Operations to Net Cash from Operating Activities: Asset Impairments, PVOL and Other Unit Closing Costs 2 16 27 35 Depreciation and Amortization 101 199 291 394 Net Gains on Sale of Assets (21) (51) (51) (51) Benefit Plans Expense 26 35 66 135 Pension Contribution - - (300) (300) Stock-Based Compensation (1) 3 6 9 Deferred Taxes 75 80 288 137 Change in Cash from: Receivables (18) (11) (3) 3 Inventory (356) (373) (1,224) (100) Prepaid Expense and Other Assets 40 22 (23) (36) Accounts Payable and Accrued Expenses 66 55 563 94 Current Income Taxes Payable (64) (43) (201) (17) Other Liabilities (232) (243) (125) 145 ------ ------ ------ ------ Net Cash (Used in)/Provided by Operating Activities (362) (294) (575) 812 ------ ------ ------ ------ Cash Flows from Investing Activities: Capital Expenditures (67) (150) (243) (373) Proceeds from the Sale of Mexico - - - 20 Proceeds from the Sale of Assets 23 68 89 100 ------ ------ ------ ------ Net Cash Used in Investing Activities (44) (82) (154) (253) ------ ------ ------ ------ Cash Flows from Financing Activities: Change in Short-term Debt 10 12 16 5 Net Proceeds from the Issuance of Long-Term Debt 595 595 595 607 Payment of Long-Term Debt, including Capital Leases (2) (33) (202) (450) Common Stock Issued, Net 7 13 29 52 Preferred Stock Redeemed (8) (16) (23) (29) Dividends Paid, Preferred and Common (34) (80) (114) (160) ------ ------ ------ ------ Net Cash Provided by Financing Activities 568 491 301 25 ------ ------ ------ ------ Cash (Paid to)/Received from Discontinued Operations (7) 28 (125) (64) ------ ------ ------ ------ Net Increase/(Decrease) in Cash and Short-Term Investments 155 143 (553) 520 ------ ------ ------ ------ Cash and Short-term Investments at Beginning of Year 2,474 2,474 2,474 2,474 ------ ------ ------ ------ Cash and Short-Term Investments at End of Period $ 2,629 $ 2,617 $ 1,921 $ 2,994 ======= ======= ====== ====== * As previously reported in the J. C. Penney Company, Inc. 2003 Annual Report on Form 10-K.
JCPenney Company, Inc. 2002 Quarterly Consolidated Statements of Cash Flows Reflecting Eckerd and Mexico as Discontinued Operations ($ in millions) 13 weeks 26 weeks 39 weeks 52 weeks ended ended ended ended 4/27/02 7/27/02 10/26/02 1/25/03* Cash Flows from Operating Activities: Income from Continuing Operations $ 62 $ 42 $ 111 $ 285 Adjustments to Reconcile Income from Continuing Operations to Net Cash from Operating Activities: Asset Impairments, PVOL and Other Unit Closing Costs 19 28 30 77 Depreciation and Amortization 91 185 274 369 Net Gains on Sale of Assets (10) (10) (15) (18) Company Contributions to Savings and Profit Sharing Plans - - - 47 Benefit Plans Expense - 4 8 30 Pension Contribution - - - (300) Stock-Based Compensation 1 3 5 6 Deferred Taxes 11 56 108 96 Change in Cash from: Receivables (20) 10 (2) (13) Inventory (1) (118) (906) 43 Prepaid Expenses and Other Assets 26 (17) (15) (17) Accounts Payable and Accrued Expenses 114 168 521 53 Current Income Taxes Payable (10) (82) (105) (102) Other Liabilities (254) (235) (194) (34) ------ ------ ------ ------ Net Cash Provided by/(Used in) Operating Activities 29 34 (180) 522 ------ ------ ------ ------ Cash Flows from Investing Activities: Capital Expenditures (50) (129) (216) (315) Proceeds from the Sale of Assets 12 18 32 38 ------ ------ ------ ------ Net Cash Used in Investing Activities (38) (111) (184) (277) ------ ------ ------ ------ Cash Flows from Financing Activities: Change in Short-term Debt 15 2 - (2) Net Proceeds from the Issuance of Long-Term Debt - 9 18 27 Payment of Long-Term Debt, including Capital Leases (702) (923) (924) (926) Common Stock Issued, Net 8 18 21 30 Preferred Stock Redeemed (10) (18) (24) (30) Dividends Paid, Preferred and Common (33) (80) (114) (161) ------ ------ ------ ------ Net Cash Used in Financing Activities (722) (992) (1,023) (1,062) ------ ------ ------ ------ Cash Received from Discontinued Operations 165 233 295 451 ------ ------ ------ ------ Net Decrease in Cash and Short-Term Investments (566) (836) (1,092) (366) ------ ------ ------ ------ Cash and Short-Term Investments at Beginning of Year 2,840 2,840 2,840 2,840 ------ ------ ------ ------ Cash and Short-Term Investments at End of Period $ 2,274 $ 2,004 $ 1,748 $ 2,474 ======= ======= ====== ====== * As previously reported in the J. C. Penney Company, Inc. 2003 Annual Report on Form 10-K.