SHLD » Topics » Other Income

This excerpt taken from the SHLD 10-K filed Mar 12, 2010.

Other Income

Other income in fiscal 2008 was primarily comprised of mark-to-market gains on Sears Canada hedge transactions. Total net gains of $81 million were recorded on these transactions in fiscal 2008. Other income also includes gains on negotiated repurchases of debt securities prior to their maturity and bankruptcy-related recoveries. We recorded $13 million in gains related to the repurchases of debt securities in fiscal 2008. We had no comparable gains in fiscal 2007. We recorded $5 million of bankruptcy-related recoveries during fiscal 2008 and $18 million of such recoveries in fiscal 2007. Bankruptcy-related recoveries represent amounts collected from vendors who had received cash payment for pre-petition obligations. See Note 10 of Notes to Consolidated Financial Statements for further information on bankruptcy claims resolution and settlements.

These excerpts taken from the SHLD 10-K filed Mar 17, 2009.

Other Income

Other income in fiscal 2008 is primarily comprised of mark-to-market gains on Sears Canada hedge transactions. Total net gains of $81 million were recorded on these transactions in fiscal 2008. Other income also includes gains on negotiated repurchases of debt securities prior to their maturity and bankruptcy-related recoveries. We recorded $13 million in gains related to the repurchases of debt securities in fiscal 2008. We had

 

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no comparable gains in fiscal 2007. We recorded $5 million of bankruptcy-related recoveries during fiscal 2008 as compared to $18 million of such recoveries in fiscal 2007. Bankruptcy-related recoveries represent amounts collected from vendors who had received cash payment for pre-petition obligations. See Note 10 of Notes to Consolidated Financial Statements for further information on bankruptcy claims resolution and settlements.

Other Income

Other income is primarily comprised of bankruptcy-related recoveries in the amount of $18 million and $14 million for fiscal 2007 and 2006, respectively. Bankruptcy-related recoveries increased $4 million in fiscal 2007 and represent amounts recovered from vendors who had received cash payment for pre-petition obligations. See Note 10 of Notes to Consolidated Financial Statements for further detail. Other income in fiscal 2006 also included income recorded relative to foreign currency forward contracts for which hedge accounting was not applied. See Note 5 of Notes to Consolidated Financial Statements for further details.

 

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Other Income

Other income in fiscal
2008 is primarily comprised of mark-to-market gains on Sears Canada hedge transactions. Total net gains of $81 million were recorded on these transactions in fiscal 2008. Other income also includes gains on negotiated repurchases of debt securities
prior to their maturity and bankruptcy-related recoveries. We recorded $13 million in gains related to the repurchases of debt securities in fiscal 2008. We had

 


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no comparable gains in fiscal 2007. We recorded $5 million of bankruptcy-related recoveries during fiscal 2008 as compared to $18 million of such recoveries
in fiscal 2007. Bankruptcy-related recoveries represent amounts collected from vendors who had received cash payment for pre-petition obligations. See Note 10 of Notes to Consolidated Financial Statements for further information on bankruptcy claims
resolution and settlements.

This excerpt taken from the SHLD 10-Q filed Nov 30, 2007.

Other Income

Other income is primarily comprised of bankruptcy-related recoveries. No bankruptcy recoveries were recorded in the third quarter of fiscal 2007 or fiscal 2006. For the first nine months of fiscal 2007, a total of $18 million in bankruptcy-related recoveries were recorded, as compared to $12 million in the first nine months of fiscal 2006. Bankruptcy-related recoveries represent amounts collected from vendors who had received cash payment for pre-petition obligations.

 

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SEARS HOLDINGS CORPORATION

13 and 39 Weeks Ended November 3, 2007 and October 28, 2006

 

This excerpt taken from the SHLD 10-Q filed Aug 30, 2007.

Other Income

Other income is primarily comprised of bankruptcy-related recoveries. A total of $12 million in bankruptcy-related recoveries were recorded in the second quarter of fiscal 2007, as compared to $11 million in the second quarter of fiscal 2006. For the first half of fiscal 2007, a total of $18 million in bankruptcy-related recoveries were recorded, as compared to $12 million in the first half of fiscal 2006. Bankruptcy-related recoveries represent amounts collected from vendors who had received cash payment for pre-petition obligations.

 

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SEARS HOLDINGS CORPORATION

13 and 26 Weeks Ended August 4, 2007 and July 29, 2006

 

This excerpt taken from the SHLD 10-Q filed Jun 1, 2007.

Other Income

Other income is primarily comprised of bankruptcy-related recoveries. A total of $6 million in bankruptcy-related recoveries were recorded in the first quarter of fiscal 2007, as compared to $1 million in the first quarter of fiscal 2006. Bankruptcy-related recoveries represent amounts recognized from vendors who had received cash payment for pre-petition obligations.

This excerpt taken from the SHLD 10-Q filed Dec 5, 2006.

Other Income

Other income is primarily comprised of bankruptcy-related recoveries. No bankruptcy-related recoveries were recorded in the third quarter of fiscal 2006 compared to $1 million in the third quarter of fiscal 2005. For the first nine months of fiscal 2006, bankruptcy-related recoveries were $12 million, as compared to $33 million for the first nine months last year, and represent amounts recognized from vendors who had received cash payment for pre-petition obligations.

This excerpt taken from the SHLD 10-K filed Mar 17, 2006.

NOTE 12—OTHER INCOME

        Other income consists of:

 
   
   
   
  Predecessor
Company

 
  2005
  2004
  39 Weeks Ended
January 28, 2004

  13 Weeks
Ended April 30, 2003

millions

   
   
   
   
Equity income in unconsolidated companies   $ 6   $ 3   $ 5   $ 7
Gain on sales of investments     23            
Dividends from unconsolidated companies     12            
Other     (3 )          
   
 
 
 
Total   $ 38   $ 3   $ 5   $ 7
   
 
 
 
This excerpt taken from the SHLD 10-K filed Mar 15, 2006.

NOTE 12—OTHER INCOME

        Other income consists of:

 
   
   
   
  Predecessor
Company

 
  2005
  2004
  39 Weeks Ended
January 28, 2004

  13 Weeks
Ended April 30, 2003

millions

   
   
   
   
Equity income in unconsolidated companies   $ 6   $ 3   $ 5   $ 7
Gain on sales of investments     23            
Dividends from unconsolidated companies     12            
Other     (3 )          
   
 
 
 
Total   $ 38   $ 3   $ 5   $ 7
   
 
 
 
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