Dollar General 2013 Annual Report Download - page 164
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DOLLAR GENERAL CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
12. Segment reporting
The Company manages its business on the basis of one reportable segment. See Note 1 for a brief
description of the Company’s business. As of January 31, 2014, all of the Company’s operations were
located within the United States with the exception of a Hong Kong subsidiary, and a liaison office in
India, the collective assets and revenues of which are not material. The following net sales data is
presented in accordance with accounting standards related to disclosures about segments of an
enterprise.
(In thousands) 2013 2012 2011
Classes of similar products:
Consumables .................... $13,161,825 $11,844,846 $10,833,735
Seasonal ........................ 2,259,516 2,172,399 2,051,098
Home products ................... 1,115,648 1,061,573 1,005,219
Apparel ........................ 967,178 943,310 917,136
Net sales ...................... $17,504,167 $16,022,128 $14,807,188
13. Common stock transactions
On August 29, 2012, the Company’s Board of Directors authorized a common stock repurchase
program, which was increased on March 19, 2013 and again on December 4, 2013. As of January 31,
2014, a total of $2.0 billion had been authorized under the program and $1.02 billion remained
available for repurchase. The repurchase authorization has no expiration date and allows repurchases
from time to time in the open market or in privately negotiated transactions. The timing and number
of shares purchased depends on a variety of factors, such as price, market conditions, compliance with
the covenants and restrictions under our debt agreements and other factors. Repurchases under the
program may be funded from available cash or borrowings under the Company’s credit facilities
discussed in further detail in Note 5.
During the years ended January 31, 2014, February 1, 2013, and February 3, 2012, the Company
repurchased approximately 11.0 million shares of its common stock at a total cost of $620.1 million,
approximately 14.4 million shares at a total cost of $671.4 million, and approximately 4.9 million shares
of its common stock at a total cost of $185.0 million, respectively, pursuant to its common stock
repurchase programs.
87
10-K