GNC 2011 Annual Report Download - page 122
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Table of Contents
NOTE 25. SUPPLEMENTAL GUARANTOR INFORMATION (Continued)
Supplemental Condensed Consolidating Statements of Operations
Year ended December 31, 2008
Parent/
Issuer
Combined
Guarantor
Subsidiaries
Combined
Non-Guarantor
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 Cash Flows
Year Ended December 31, 2010
Parent/
Issuer
Combined
Guarantor
Subsidiaries
Combined
Non-Guarantor
Subsidiaries Consolidated
(in thousands)
NET CASH PROVIDED BY OPERATING ACTIVITIES: $ — $ 137,529 $ 4,186 $ 141,715
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures (3,701) (26,764) (2,057) (32,522)
Investment/distribution 107,481 (107,481) — —
Merger of the Company (3,096) — — (3,096)
Other investing — (455) — (455)
Net cash provided by (used in) investing activities 100,684 (134,700) (2,057) (36,073)
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividend payment (28,384) — — (28,384)
Other financing (1,708) (13) — (1,721)
Net cash used in financing activities (30,092) (13) — (30,105)
Effect of exchange rate on cash — — 15 15
Net increase in cash 70,592 2,816 2,144 75,552
Beginning balance, cash and cash equivalents 77,797 (4,801) 2,093 75,089
Ending balance, cash and cash equivalents $ 148,389 $ (1,985) $ 4,237 $ 150,641
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