Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

v2.4.0.8
Consolidated Statements of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Feb. 01, 2014
Feb. 02, 2013
Jan. 28, 2012
Income Statement [Abstract]      
Net sales $ 27,931 $ 27,686 $ 26,405
Cost of sales (16,725) (16,538) (15,738)
Gross margin 11,206 11,148 10,667
Selling, general and administrative expenses (8,440) (8,482) (8,281)
Impairments, store closing and other costs and gain on sale of leases (88) (5) 25
Operating income (loss) 2,678 2,661 2,411
Interest expense (390) (425) (447)
Premium on early retirement of debt 0 (137) 0
Interest income 2 3 4
Income (loss) before income taxes 2,290 2,102 1,968
Federal, state and local income tax expense (804) (767) (712)
Net income $ 1,486 $ 1,335 $ 1,256
Basic earnings per share $ 3.93 $ 3.29 $ 2.96
Diluted earnings per share $ 3.86 $ 3.24 $ 2.92