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Pre-tax segment profit is first-in, first-out (FIFO) earnings before securitization effects, interest, corporate and other expense, and unusual items. EBITDA is pre-tax segment profit before depreciation and amortization. Management uses pre-tax segment profit and EBITDA, among other standards, to measure divisional operating performance. EBITDA supplements, and is not intended to represent a measure of performance in accordance with, disclosures required by generally accepted accounting principles. It is included as a tool for analyzing our results.
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| Pre-tax Segment Profit as a Percent of Revenues |
| |
1998 |
1997 |
1996 |
|
| Target |
6.8% |
6.3% |
5.9% |
| Mervyn's |
5.7% |
6.6% |
6.2% |
| DSD |
8.5% |
7.6% |
4.8% |
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| EBITDA as a Percent of Revenues |
| |
1998 |
1997 |
1996 |
|
| Target |
9.0% |
8.5% |
8.0% |
| Mervyn's |
9.0% |
9.6% |
9.7% |
| DSD |
12.6% |
11.6% |
8.6% |
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