Dollar General 2015 Annual Report Download - page 149

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10-K
DOLLAR GENERAL CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
14. Quarterly financial data (unaudited) (Continued)
First Second Third Fourth
(In thousands) Quarter Quarter Quarter Quarter
2014:
Net sales .................. $4,522,081 $4,724,039 $4,724,409 $4,939,059
Gross profit ................ 1,357,746 1,455,574 1,423,748 1,565,439
Operating profit ............. 379,708 428,526 394,143 566,716
Net income ................ 222,398 251,260 236,316 355,371
Basic earnings per share ....... 0.72 0.83 0.78 1.17
Diluted earnings per share ..... 0.72 0.83 0.78 1.17
As discussed in Note 13, in the third quarter of 2015, the Company implemented a restructuring of
its corporate support functions. As a result, the Company incurred expenses, primarily related to
severance-related benefits, of $6.1 million ($3.7 million net of tax, or $0.01 per diluted share), which
was recognized as Selling, general, and administrative expense.
In the third and fourth quarters of 2014, the Company incurred expenses related to an attempted
acquisition of $8.2 million ($7.4 million net of tax, or $0.02 per diluted share) and $6.1 million
($1.3 million net of tax, or $0.00 per diluted share), respectively, which were recognized as Selling,
general and administrative expenses.
75