GNC 2010 Annual Report Download - page 128
Download and view the complete annual report
Please find page 128 of the 2010 GNC annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118 -
119 -
120 -
121 -
122 -
123 -
124 -
125 -
126 -
127 -
128 -
129 -
130 -
131 -
132 -
133 -
134 -
135 -
136 -
137 -
138 -
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
-
229
-
230
-
231
-
232
-
233
-
234
-
235
-
236
-
237
-
238
-
239
-
240
 |
 |
Table of Contents
GENERAL NUTRITION CENTERS, INC. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Supplemental Condensed Consolidating Statements of Operations
Combined Combined
Parent/ Guarantor Non-Guarantor
Year ended December 31, 2009 Issuer Subsidiaries Subsidiaries Eliminations Consolidated
(in thousands)
Revenue $ — $ 1,622,085 $ 102,092 $ (17,170) $ 1,707,007
Cost of sales, including costs of warehousing, distribution and occupancy — 1,060,619 72,988 (17,170) 1,116,437
Gross profit — 561,466 29,104 — 590,570
Compensation and related benefits 41,713 205,190 16,143 — 263,046
Advertising and promotion — 49,280 754 — 50,034
Other selling, general and administrative 33,111 63,431 (88) — 96,454
Subsidiary (income) expense (75,141) 997 — 74,144 —
Other (income) expense (71,075) 66,915 4,005 — (155)
Operating income (loss) 71,392 175,653 8,290 (74,144) 181,191
Interest expense, net 4,204 64,569 1,180 — 69,953
Income (loss) before income taxes 67,188 111,084 7,110 (74,144) 111,238
Income tax (benefit) expense (2,431) 41,973 2,077 — 41,619
Net income (loss) $ 69,619 $ 69,111 $ 5,033 $ (74,144) $ 69,619
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
122