American Eagle Outfitters 2004 Annual Report Download - page 64

Download and view the complete annual report

Please find page 64 of the 2004 American Eagle Outfitters annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 86

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86

50
Part II
The operating results of Bluenotes, which are being presented as discontinued operations, were as follows:
(In thousands) January 29,
2005
January 31,
2004
February 1,
2003
Net sales $69,825 $84,532 $80,218
Loss from operations, net of income tax benefit (1) $ (6,070)
$(23,486) $(11,536)
Loss on disposition, net of income tax benefit (4,819) - -
Loss from discontinued operations, net of income tax benefit (2) $(10,889) $(23,486) $(11,536)
(1) Fiscal 2003 includes a goodwill impairment charge of $14.1 million, for which no tax benefit was realized.
(2) Amounts are net of income tax benefit of $3.9 million, $5.8 million and $7.1 million, respectively.
11. Income Taxes
The components of income from continuing operations before taxes on income were:
(In thousands) January 29,
2005
January 31,
2004
February 1,
2003
U.S. $339,328 $131,804 $158,113
Foreign 27,507 3,483 3,166
Total $366,835 $135,287 $161,279