Abercrombie & Fitch 2014 Annual Report Download - page 41

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41
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
ABERCROMBIE & FITCH CO.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME
(Thousands, except per share amounts)
2014 2013 2012
NET SALES $ 3,744,030 $ 4,116,897 $ 4,510,805
Cost of Goods Sold 1,430,460 1,541,462 1,694,096
GROSS PROFIT 2,313,570 2,575,435 2,816,709
Stores and Distribution Expense 1,703,051 1,907,687 1,980,519
Marketing, General and Administrative Expense 458,820 481,784 473,883
Restructuring Charges 8,431 81,500 —
Asset Impairment 44,988 46,715 7,407
Other Operating Income, Net (15,239) (23,074) (19,333)
OPERATING INCOME 113,519 80,823 374,233
Interest Expense, Net 14,365 7,546 7,288
INCOME BEFORE TAXES 99,154 73,277 366,945
Tax Expense 47,333 18,649 129,934
NET INCOME $ 51,821 $ 54,628 $ 237,011
NET INCOME PER SHARE:
BASIC $ 0.72 $ 0.71 $ 2.89
DILUTED $ 0.71 $ 0.69 $ 2.85
WEIGHTED-AVERAGE SHARES OUTSTANDING:
BASIC 71,785 77,157 81,940
DILUTED 72,937 78,666 83,175
DIVIDENDS DECLARED PER SHARE $ 0.80 $ 0.80 $ 0.70
OTHER COMPREHENSIVE (LOSS) INCOME
Foreign Currency Translation Adjustments $ (77,929) $ (12,683) $ (427)
Unrealized Gain (Loss) on Derivative Financial Instruments, net of taxes 15,266 5,054 (19,152)
Other Comprehensive Loss (62,663) (7,629) (19,579)
COMPREHENSIVE (LOSS) INCOME $ (10,842) $ 46,999 $ 217,432
The accompanying Notes are an integral part of these Consolidated Financial Statements.