Aarons 2007 Annual Report Download - page 32

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30
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) 2007 2006 2005
REVENUES
Rentals and Fees $1,126,812 $ 992,791 $ 845,162
Retail Sales 54,518 62,319 58,366
Non-Retail Sales 261,584 224,489 185,622
Franchise Royalties and Fees 38,803 33,626 29,781
Other 13,194 13,367 6,574
1,494,911 1,326,592 1,125,505
COSTS AND EXPENSES
Retail Cost of Sales 36,099 41,262 39,054
Non-Retail Cost of Sales 239,755 207,217 172,807
Operating Expenses 674,412 579,565 507,158
Depreciation of Rental Merchandise 407,321 364,109 305,630
Interest 8,479 9,729 8,519
1,366,066 1,201,882 1,033,168
Earnings Before Income Taxes 128,845 124,710 92,337
Income Taxes 48,570 46,075 34,344
Net Earnings $ 80,275 $ 78,635 $ 57,993
Earnings Per Share $ 1.48 $ 1.50 $ 1.16
Earnings Per Share Assuming Dilution 1.46 1.47 1.14
The accompanying notes are an integral part of the Consolidated Financial Statements.
Accumulated Other
Comprehensive
(Loss) Income
Additional Derivatives
Treasury Stock Common Stock Paid-In Retained Comprehensive Designated Marketable
(In Thousands, Except Per Share) Shares Amount Common Class A Capital Earnings Income As Hedges Securities
BALANCE, JANUARY 1, 2005 (7,293) ($37,919) $22,495 $6,032 $ 91,032 $294,077 $ — ($279) ($260)
Dividends, $.054 per share (2,693)
Reissued Shares 267 1,648 1,820
Net Earnings 57,993 57,993
Change in Fair Value of Financial
Instruments, Net of Income Taxes of $284 525 279 246
Comprehensive Income 58,518
BALANCE, DECEMBER 31, 2005 (7,026) (36,271) 22,495 6,032 92,852 349,377 — (14)
Dividends, $.057 per share (3,021)
Stock-Based Compensation 3,671
Reissued Shares 662 4,077 5,169
Stock Offering 1,725 82,274
Net Earnings 78,635 78,635
Change in Fair Value of Financial
Instruments, Net of Income Taxes of $8 14 14
Comprehensive Income 78,649
BALANCE, DECEMBER 31, 2006 (6,364) (32,194) 24,220 6,032 183,966 424,991 — —
Reacquired Shares (692) (13,401)
Dividends, $.061 per share (3,307)
Stock-Based Compensation 3,067
Reissued Shares 160 1,121 1,542
Net Earnings 80,275 80,275
FIN 48 Adjustment (2,850)
Foreign Currency Translation Adjustment,
Net of Income Taxes of $2 6
Change in Fair Value of Financial
Instruments, Net of Income Taxes of $46 (88) (88)
Comprehensive Income $80,193
BALANCE, DECEMBER 31, 2007 (6,896) ($44,474) $24,220 $6,032 $188,575 $499,109 $ — ($ 88)
The accompanying notes are an integral part of the Consolidated Financial Statements.