GNC 2011 Annual Report Download - page 121
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Table of Contents
NOTE 25. SUPPLEMENTAL GUARANTOR INFORMATION (Continued)
Supplemental Condensed Consolidating Statements of Operations
Year ended December 31, 2010
Parent/
Issuer
Combined
Guarantor
Subsidiaries
Combined
Non-Guarantor
Subsidiaries Eliminations Consolidated
(in thousands)
Revenue $ — $ 1,727,234 $ 108,400 $ (13,238) $ 1,822,396
Cost of sales, including costs of
warehousing, distribution and
occupancy — 1,112,517 80,754 (13,238) 1,180,033
Gross profit — 614,717 27,646 — 642,363
Compensation and related benefits 44,801 211,227 17,551 — 273,579
Advertising and promotion — 50,466 926 — 51,392
Other selling, general and administrative 34,490 68,154 459 — 103,103
Subsidiary (income) expense (101,326) 528 — 100,798 —
Other (income) expense (72,455) 67,336 4,823 — (296)
Operating income 94,490 217,006 3,887 (100,798) 214,585
Interest expense, net 3,512 60,926 1,091 — 65,529
Income before income taxes 90,978 156,080 2,796 (100,798) 149,056
Income tax (benefit) expense (7,195) 57,775 303 — 50,883
Net income $ 98,173 $ 98,305 $ 2,493 $ (100,798) $ 98,173
Supplemental Condensed Consolidating Statements of Operations
Year ended December 31, 2009
Parent/
Issuer
Combined
Guarantor
Subsidiaries
Combined
Non-Guarantor
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
115