Value2020202120222023TTMSelling/general/admin expenses1.11 B1.04 B882 M780 M—Research & development41 M46 M37 M40 M—Operating income810 M69 M560 M1.11 B1.15 BNon-Operating Income, Total23 M77 M95 M149 M111 MInterest expense, net of interest capitalized167 M88 M90 M87 M88 MNon-Operating Income, excl. Interest Expenses-144 M-11 M5 M62 M23 MUnusual income/expense—————Pretax income323 M139 M556 M1.14 B1.17 BEquity in earnings—————Taxes67 M63 M54 M293 M317 MNon-controlling/minority interest—————After tax other income/expense31 M16 M28 M9 M11 MNet income before discontinued operations256 M202 M502 M844 M851 MDiscontinued operations—————Net income256 M202 M502 M844 M851 MDilution adjustment—————Preferred dividends—————Diluted net income available to common stockholders256 M202 M502 M844 M851 MBasic earnings per share (Basic EPS)0.68-0.551.362.242.26Diluted earnings per share (Diluted EPS)0.67-0.551.342.22.23Average basic shares outstanding376 M367 M370 M376 M1.5 BDiluted shares outstanding383 M367 M376 M384 M1.52 BEBITDA1.33 B477 M1.09 B1.62 B—EBIT810 M-69 M560 M1.11 B1.15 BCost of revenue10.03 B10.26 B9.11 B8.86 B9.01 BOther cost of goods sold—————Depreciation & amortization (cash flow)516 M546 M526 M504 M—
Gap Inc (The)
The Gap, Inc., commonly known as Gap Inc., is an American multinational clothing and accessories retailer. Gap was founded in 1969 by Donald Fisher and Doris F. Fisher and is headquartered in San Francisco, California. The company operates four primary divisions: the namesake Gap, Banana Republic, Old Navy, and Athleta. Gap Inc. is one of the largest apparel retailers in the United States, and is third in total international locations, behind Inditex Group and H&M. As of early 2023, Gap employs about 95,000 people.
The Fisher family remains deeply involved in the company, collectively owning much of its stock. Donald Fisher was chairman of the board until 2004, playing a role in the ouster of then-CEO Millard Drexler in 2002, and remained on the board until his death in 2009. Fisher's wife and their son, Robert J. "Bob" Fisher, are also on Gap's board of directors. Bob succeeded his father as chairman in 2004 and was CEO on an interim basis following the resignation of Paul Pressler in 2007, before being succeeded by Glenn K. Murphy up until 2014. From February 2015 to November 2019, Art Peck was CEO of Gap Inc., until he was replaced by Sonia Syngal in March 2020.