Pep Boys 2007 Annual Report Download - page 107

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THE PEP BOYS—MANNY, MOE & JACK AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Years ended February 2, 2008, February 3, 2007 and January 28, 2006
(dollar amounts in thousands, except share data)
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
Subsidiary
Subsidiary Non- Consolidation /
Year ended February 2, 2008 Pep Boys Guarantors Guarantors Elimination Consolidated
Merchandise Sales ............... $600,611 $1,148,967 $ — $ — $1,749,578
Service Revenue ................ 135,110 253,387 — — 388,497
Other Revenue ................. — — 24,592 (24,592) —
Total Revenues ................. 735,721 1,402,354 24,592 (24,592) 2,138,075
Costs of Merchandise Sales ........ 455,204 852,124 — (1,376) 1,305,952
Costs of Service Revenue .......... 116,453 229,844 — (411) 345,886
Costs of Other Revenue ........... — — 18,989 (18,989) —
Total Costs of Revenues ........... 571,657 1,081,968 18,989 (20,776) 1,651,838
Gross Profit from Merchandise Sales . 145,407 296,843 — 1,376 443,626
Gross Profit from Service Revenue . . . 18,657 23,543 — 411 42,611
Gross Loss from Other Revenue .... — — 5,603 (5,603) —
Total Gross Profit ............... 164,064 320,386 5,603 (3,816) 486,237
Selling, General and Administrative
Expenses .................... 181,225 343,093 338 (6,283) 518,373
Net Gain from Dispositions of Assets . 3,095 12,056 — — 15,151
Operating (Loss) Profit ........... (14,066) (10,651) 5,265 2,467 (16,985)
Non-Operating (Expense) Income . . . (15,384) 133,428 2,630 (115,428) 5,246
Interest Expense (Income) ......... 126,073 43,338 (5,157) (112,961) 51,293
(Loss) Earnings from Continuing
Operations Before Income Taxes
and Cumulative Effect of Change in
Accounting Principle ........... (155,523) 79,439 13,052 — (63,032)
Income Tax (Benefit) Expense ...... (56,041) 25,881 4,566 (25,594)
Equity in Earnings of Subsidiaries . . . 59,537 — — (59,537) —
Net (Loss) Earnings from Continuing
Operations Before Cumulative
Effect of Change in Accounting
Principle .................... (39,945) 53,558 8,486 (59,537) (37,438)
Loss From Discontinued Operations,
Net of Tax ................... (1,094) (2,507) — — (3,601)
Net (Loss) Earnings ............. $ (41,039) $ 51,051 $ 8,486 $(59,537) $ (41,039)
61
10-K