Dollar General 2012 Annual Report Download - page 169
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10-K
DOLLAR GENERAL CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
14. Quarterly financial data (unaudited) (Continued)
As discussed in Note 6, in the second quarter of 2012, the Company repurchased $450.7 million
principal amount of its outstanding senior subordinated notes due 2017, resulting in a pretax loss of
$29.0 million ($17.7 million net of tax, or $0.05 per diluted share) which was recognized as Other
(income) expense.
As discussed in Note 6, in the first quarter of 2011, the Company repurchased $25.0 million
principal amount of its outstanding senior notes due 2015, resulting in a pretax loss of $2.2 million
($1.3 million net of tax, or less than $0.01 per diluted share) which was recognized as Other (income)
expense.
As discussed in Note 6, in the second quarter of 2011, the Company repurchased $839.3 million
principal amount of its outstanding senior notes due 2015, resulting in a pretax loss of $58.1 million
($35.4 million net of tax, or $0.10 per diluted share) which was recognized as Other (income) expense.
As discussed in Note 11, in the fourth quarter of 2011 the Company incurred share-based
compensation expenses included in SG&A of $8.6 million ($5.3 million net of tax, or $0.02 per diluted
share) for the accelerated vesting of certain share-based awards in conjunction with a secondary
offering of the Company’s common stock.
15. Subsequent event
On March 19, 2013, the Company’s Board of Directors authorized a $500 million increase in the
common stock repurchase program discussed in Note 2. The repurchase authorization has no expiration
date and allows repurchases from time to time in the open market or in privately negotiated
transactions, which could include repurchases from Buck Holdings, L.P. or other related parties if
appropriate. The timing and number of shares purchased depends on a variety of factors, such as price,
market conditions and other factors. Repurchases under the program may be funded from available
cash or borrowings under the ABL Facility discussed in Note 6.
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