Cabela's 2012 Annual Report Download - page 83

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73
CABELA’S INCORPORATED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(Dollars in Thousands Except Earnings Per Share)
Fiscal Years
2012 2011 2010
Revenue:
Merchandise sales $ 2,778,903 $ 2,505,733 $ 2,412,486
Financial Services revenue 319,399 291,746 227,675
Other revenue 14,380 13,687 23,081
Total revenue 3,112,682 2,811,166 2,663,242
Cost of revenue:
Merchandise costs 1,769,161 1,613,241 1,566,165
Cost of other revenue 637 8 9,284
Total cost of revenue (exclusive of depreciation and amortization) 1,769,798 1,613,249 1,575,449
Selling, distribution, and administrative expenses 1,046,861 954,125 895,405
Impairment and restructuring charges 20,324 12,244 5,626
Operating income 275,699 231,548 186,762
Interest expense, net (20,123) (24,427) (27,442)
Other non-operating income, net 6,138 7,346 7,360
Income before provision for income taxes 261,714 214,467 166,680
Provision for income taxes 88,201 71,847 54,521
Net income $ 173,513 $ 142,620 $ 112,159
Earnings per basic share $ 2.48 $ 2.06 $ 1.65
Earnings per diluted share $ 2.42 $ 2.00 $ 1.62
Basic weighted average shares outstanding 69,856,258 69,194,663 67,791,782
Diluted weighted average shares outstanding 71,709,873 71,274,242 69,086,533
Refer to notes to consolidated financial statements.