Item 6. Selected Financial Data. Nordstrom, Inc. and subsidiaries 15 7  Other stores include Jeffrey boutiques, Trunk Club showrooms, our Nordstrom Canada full-line store and Last Chance. 6  Inventory turnover rate is calculated as annual cost of sales and related buying and occupancy costs (for all segments) divided by 4-quarter average inventory. Retailers do not  uniformly calculate inventory turnover as buying and occupancy costs may be included in selling, general and administrative expenses. As such, our inventory turnover rates  may not be comparable to other retailers.  5  Ending inventory includes pack and hold inventory of $222, $173, $125, $34 and $0 in 2014, 2013, 2012, 2011 and 2010, which represents strategic purchases of  merchandise for upcoming selling seasons. 3  See ROIC (Non-GAAP financial measure) on page 26 for additional information and reconciliation to the most directly comparable GAAP financial measure. 1  Gross profit is calculated as net sales less cost of sales and related buying and occupancy costs (for all segments). 2  Comparable sales include sales from stores that have been open at least one full year at the beginning of the year. We also include sales from our online channels  (Nordstrom.com, Nordstromrack.com and HauteLook) in comparable sales because of the integration with our stores. Fiscal year 2012 includes an extra week (the 53 rd  week)  as a result of our 4-5-4 retail reporting calendar. The 53 rd  week is not included in comparable sales calculations. Dollars in millions except per square foot and per share amounts The following selected financial data are derived from the audited consolidated financial statements and should be read in conjunction with  Item 1A: Risk Factors, Item 7: Management’s Discussion and Analysis of Financial Condition and Results of Operations and the consolidated  financial statements and related notes included in Item 8: Financial Statements and Supplementary Data of this Annual Report on Form 10-K. Fiscal year 2014 2013 2012 2011 2010 Earnings Results Net sales $13,110 $12,166 $11,762 $10,497 $9,310 Credit card revenues 396 374 372 363 365 Gross profit 1 4,704 4,429 4,330 3,905 3,413 Selling, general and administrative (“SG&A”) expenses (3,777) (3,453) (3,357) (3,019) (2,660) Earnings before interest and income taxes (“EBIT”) 1,323 1,350 1,345 1,249 1,118 Net earnings 720 734 735 683 613 Balance Sheet and Cash Flow Data Cash and cash equivalents $827 $1,194 $1,285 $1,877 $1,506 Accounts receivable, net 2,306 2,177 2,129 2,033 2,026 Merchandise inventories 1,733 1,531 1,360 1,148 977 Current assets 5,224 5,228 5,081 5,560 4,824 Land, property and equipment, net 3,340 2,949 2,579 2,469 2,318 Total assets 9,245 8,574 8,089 8,491 7,462 Current liabilities 2,800 2,541 2,226 2,575 1,879 Long-term debt, including current portion 3,131 3,113 3,131 3,647 2,781 Shareholders’ equity 2,440 2,080 1,913 1,956 2,021 Cash flow from operations 1,220 1,320 1,110 1,177 1,177 Performance Metrics Comparable sales increase 2 4.0% 2.5% 7.3% 7.2% 8.1% Gross profit % of net sales 35.9% 36.4% 36.8% 37.2% 36.7% Total SG&A % of net sales 28.8% 28.4% 28.5% 28.8% 28.6% EBIT % of net sales 10.1% 11.1% 11.4% 11.9% 12.0% Return on assets 8.1% 8.7% 8.9% 8.7% 8.6% Return on invested capital (“ROIC”) 3 12.6% 13.6% 13.9% 13.3% 13.6% Sales per square foot 4 $493 $474 $470 $431 $397 4-wall sales per square foot 4 $413 $408 $417 $394 $372 Ending inventory per square foot 5 $64.05 $58.84 $53.77 $46.41 $40.96 Inventory turnover rate 6 4.67 5.07 5.37 5.56 5.56 Per Share Information Earnings per diluted share $3.72 $3.71 $3.56 $3.14 $2.75 Dividends declared per share 1.32 1.20 1.08 0.92 0.76 Store Information (at year-end) Nordstrom full-line stores - U.S. 116 117 117 117 115 Nordstrom Rack and other stores 7 176 143 123 108 89 Total square footage 27,061,000 26,017,000 25,290,000 24,745,000 23,838,000 4  Sales per square foot is calculated as net sales divided by weighted-average square footage. Weighted-average square footage includes a percentage of year-end square  footage for new stores equal to the percentage of the year during which they were open. 4-wall sales per square foot is calculated as sales for Nordstrom U.S. full-line stores,  Nordstrom Rack stores, Jeffrey boutiques, our Canada full-line store, Last Chance and Trunk Club showrooms divided by their weighted-average square footage.