Aarons 2004 Annual Report Download - page 24

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22
Consolidated Statements of Earnings
Consolidated Statements of Shareholders’ Equity
Year Ended Year Ended Year Ended
December 31, December 31, December 31,
(In Thousands, Except Per Share) 2004 2003 2002
REVENUES
Rentals & Fees $694,293 $553,773 $459,179
Retail Sales 56,259 68,786 72,698
Non-Retail Sales 160,774 120,355 88,969
Other 35,154 23,883 19,842
946,480 766,797 640,688
COSTS & EXPENSES
Retail Cost of Sales 39,380 50,913 53,856
Non-Retail Cost of Sales 149,207 111,714 82,407
Operating Expenses 414,518 344,884 293,346
Depreciation of Rental Merchandise 253,456 195,661 162,660
Interest 5,413 5,782 4,767
861,974 708,954 597,036
Earnings Before Income Taxes 84,506 57,843 43,652
Income Taxes 31,890 21,417 16,212
Net Earnings $ 52,616 $ 36,426 $ 27,440
Earnings Per Share $ 1.06 $ 0.74 $ 0.58
Earnings Per Share Assuming Dilution $ 1.04 $ 0.73 $ 0.57
The accompanying notes are an integral part of the Consolidated Financial Statements.
Accumulated Other
Comprehensive
Income (Loss)
Additional Derivatives
Treasury Stock Common Stock Paid-In Retained Designated Marketable
(In Thousands, Except Per Share) Shares Amount Common Class A Capital Earnings As Hedges Securities
BALANCE, DECEMBER 31, 2001 (8,242) ($41,062) $ 9,135 $2,681 $53,846 $197,321 ($1,954) $ 111
Reacquired Shares (220) (1,667)
Stock Offering 863 33,215
Dividends, $.018 per share (833)
Reissued Shares 265 1,033 441
Net Earnings 27,440
Change in Fair Value of Financial
Instruments, Net of Income Taxes
of $51 (18) 104
BALANCE, DECEMBER 31, 2002 (8,197) (41,696) 9,998 2,681 87,502 223,928 (1,972) 104
Dividends, $.022 per share (1,090)
Stock Dividend 4,999 1,340 (54) (6,340)
Reissued Shares 306 1,635 857
Net Earnings 36,426
Change in Fair Value of Financial
Instruments, Net of Income Taxes
of $1,209 1,031 837
BALANCE, DECEMBER 31, 2003 (7,891) (40,061) 14,997 4,021 88,305 252,924 (941) 941
Dividends, $.039 per share (1,954)
Stock Dividend 7,498 2,011 (80) (9,509)
Reissued Shares 598 2,142 2,807
Net Earnings 52,616
Change in Fair Value of Financial
Instruments, Net of Income Taxes
of $119 662 (1,201)
BALANCE, DECEMBER 31, 2004 (7,293) ($37,919) $22,495 $6,032 $91,032 $294,077 ($ 279) ($ 260)
The accompanying notes are an integral part of the Consolidated Financial Statements.