Coach 2006 Annual Report Download - page 48
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Net sales $ 1,996,129 $ 492,748 $ 123,579 $ 2,612,456
Long-lived assets 334,889 282,888 5,493 623,270
Net sales $ 1,497,869 $ 420,509 $ 116,707 $ 2,035,085
Long-lived assets 266,190 298,087 3,684 567,961
Net sales $ 1,194,451 $ 372,326 $ 84,927 $ 1,651,704
Long-lived assets 314,919 288,338 2,995 606,252
(1) Other International sales reflect shipments to third-party distributors, primarily in East Asia, and sales from Coach-operated stores in
Canada.
In the fiscal year ended June 29, 2002, Coach’s World Trade Center location was completely destroyed as a result of the September 11 th
terrorist attack. Inventory and fixed asset loss claims were filed with the Company’s insurers and these losses were fully recovered. Losses
covered under the Company’s business interruption insurance program were also filed with the insurers. During the second quarter of fiscal
2006, the Company reached a final settlement with its insurance carriers related to losses covered under the business interruption insurance
program. Accordingly, the Company did not receive any proceeds in fiscal 2007 and does not expect to receive any additional business
interruption proceeds related to the World Trade Center location in the future. During fiscal 2006 and 2005, Coach received payments of
$2,025 and $2,644, respectively, under its business interruption coverage. These amounts are included as a reduction to selling, general
and administrative expenses.
The following is a reconciliation of the weighted-average shares outstanding and calculation of basic and diluted earnings per share:
Income from continuing operations $ 636,529 $ 463,840 $ 336,647
Total weighted-average basic shares 369,661 379,635 378,670
Dilutive securities:
Employee benefit and share award plans 980 1,666 2,784
Stock option programs 6,715 7,194 8,737
Total weighted-average diluted shares 377,356 388,495 390,191
Earnings from continuing operations per share:
Basic $ 1.72 $ 1.22 $ 0.89
Diluted $ 1.69 $ 1.19 $ 0.86
At June 30, 2007, options to purchase 99 shares of common stock were outstanding but not included in the computation of diluted
earnings per share, as these options’ exercise prices, ranging from $50.00 to $51.56, were greater than the average market price of the
common shares.
62
At July 1, 2006, options to purchase 13,202 shares of common stock were outstanding but not included in the computation of diluted
earnings per share, as these options’ exercise prices, ranging from $31.28 to $36.86, were greater than the average market price of the
common shares.
At July 2, 2005, options to purchase 1,093 shares of common stock were outstanding but not included in the computation of diluted
earnings per share, as these options’ exercise prices, ranging from $29.75 to $32.79, were greater than the average market price of the