MBA Class

JC PENNEY CO INC (JCP)

INCOME STATEMENTS

All amounts in USD millions.

Calendar Year 2011 2012 2013

Revenue $ 17,260 $ 12,985 $ 11,859

Cost of revenue (cost of goods sold) $ 11,042 $ 8,919 $ 8,367

Gross profit $ 6,218 $ 4,066 $ 3,492

Operating expenses No data No data No data

Sales, General and administrative $ 5,251 $ 4,535 $ 4,096

Other operating expenses $ 969 $ 841 $ 816

Total operating expenses $ 6,220 $ 5,376 $ 4,912

Operating income $ (2) $ (1,310) $ (1,420)

Interest Expense $ 227 $ 226 No data

Other income (expense) No data No data $ (466)

Income before income taxes $ (229) $ (1,536) $ 1,886)

Provision for income taxes $ (77) $ (551) $ (498)

Net income from continuing operations $ (152) $ (985) $ (1,388)

Net income from discontinuing ops No data No data No data

Net income $ (152) $ (985) $ (1,388)

Net income available to common shareholders $ (152) $ (985) $ (1,388)

EBITDA $ 516 $ (767) $ (819)

Financial data reporting dates: 2012-01 2013-01 2014-01

JCP fiscal year is Feb-Jan, so Jan reports reflect mostly prior calendar year financial data. For Financial Ratios calculations please use Calendar Year information listed in this table.