GNC 2009 Annual Report Download - page 121
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Table of Contents
GENERAL NUTRITION CENTERS, INC. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Supplemental Condensed Consolidating Statements of Operations
Combined Combined
Successor Parent/ Guarantor Non-Guarantor
Year ended December 31, 2008 Issuer Subsidiaries Subsidiaries Eliminations Consolidated
(in thousands)
Revenue $ — $ 1,566,054 $ 102,018 $ (11,343) $ 1,656,729
Cost of sales, including costs of warehousing, distribution and occupancy — 1,020,402 73,571 (11,343) 1,082,630
Gross profit — 545,652 28,447 — 574,099
Compensation and related benefits — 234,188 15,605 — 249,793
Advertising and promotion — 54,351 709 — 55,060
Other selling, general and administrative 2,215 92,893 3,624 — 98,732
Subsidiary (income) expense (58,977) (5,565) — 64,542 —
Other (income) expense — 126 607 — 733
Operating income (loss) 56,762 169,659 7,902 (64,542) 169,781
Interest expense, net 4,242 77,579 1,179 — 83,000
Income (loss) before income taxes 52,520 92,080 6,723 (64,542) 86,781
Income tax (benefit) expense (2,260) 33,103 1,158 — 32,001
Net income (loss) $ 54,780 $ 58,977 $ 5,565 $ (64,542) $ 54,780
Supplemental Condensed Consolidating Statements of Operations
Combined Combined
Successor Parent/ Guarantor Non-Guarantor
Period from March 16, 2007 to December 31, 2007 Issuer Subsidiaries Subsidiaries Eliminations Consolidated
(in thousands)
Revenue $ — $ 1,158,143 $ 75,180 $ (10,336) $ 1,222,987
Cost of sales, including costs of warehousing, distribution and occupancy — 770,261 54,313 (10,336) 814,238
Gross profit — 387,882 20,867 — 408,749
Compensation and related benefits — 183,901 11,891 — 195,792
Advertising and promotion — 34,560 502 — 35,062
Other selling, general and administrative 1,356 67,315 2,542 — 71,213
Subsidiary (income) expense (24,467) (2,612) — 27,079 —
Other (income) expense — (77) (347) — (424)
Operating income (loss) 23,111 104,795 6,279 (27,079) 107,106
Interest expense, net 7,080 67,611 831 — 75,522
Income (loss) before income taxes 16,031 37,184 5,448 (27,079) 31,584
Income tax (benefit) expense (2,953) 12,717 2,836 — 12,600
Net income (loss) $ 18,984 $ 24,467 $ 2,612 $ (27,079) $ 18,984
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