Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

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Consolidated Statements of Income - USD ($)
$ in Millions
12 Months Ended
Jan. 28, 2017
Jan. 30, 2016
Jan. 31, 2015
Income Statement [Abstract]      
Net sales $ 25,778 $ 27,079 $ 28,105
Cost of sales (15,621) (16,496) (16,863)
Gross margin 10,157 10,583 11,242
Selling, general and administrative expenses (8,265) (8,256) (8,355)
Impairments, store closing and other costs (479) (288) (87)
Settlement charges (98) 0 0
Operating income (loss) 1,315 2,039 2,800
Interest expense (367) (363) (395)
Premium on early retirement of debt 0 0 (17)
Interest income 4 2 2
Income (loss) before income taxes 952 1,678 2,390
Federal, state and local income tax expense (341) (608) (864)
Net income 611 1,070 1,526
Net loss attributable to noncontrolling interest 8 2 0
Net income attributable to Macy's, Inc. shareholders $ 619 $ 1,072 $ 1,526
Basic earnings per share attributable to Macy's, Inc. shareholders $ 2.01 $ 3.26 $ 4.30
Diluted earnings per share attributable to Macy's, Inc. shareholders $ 1.99 $ 3.22 $ 4.22