Pep Boys 2007 Annual Report Download - page 108

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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 3, 2007 Pep Boys Guarantors Guarantors Elimination Consolidated
Merchandise Sales ............... $645,873 $1,207,204 $ — $ — $1,853,077
Service Revenue ................ 136,102 254,676 — — 390,778
Other Revenue ................. — — 27,407 (27,407) —
Total Revenues ................. 781,975 1,461,880 27,407 (27,407) 2,243,855
Costs of Merchandise Sales ........ 462,165 857,636 — — 1,319,801
Costs of Service Revenue .......... 124,441 233,333 — — 357,774
Costs of Other Revenue ........... — — 32,020 (32,020) —
Total Costs of Revenues ........... 586,606 1,090,969 32,020 (32,020) 1,677,575
Gross Profit from Merchandise Sales . 183,708 349,568 — — 533,276
Gross Profit from Service Revenue . . . 11,661 21,343 — — 33,004
Gross Loss from Other Revenue .... — — (4,613) 4,613 —
Total Gross Profit (Loss) .......... 195,369 370,911 (4,613) 4,613 566,280
Selling, General and Administrative
Expenses .................... 186,208 355,328 355 4,508 546,399
Net Gain from Dispositions of Assets . 35 8,933 — — 8,968
Operating Profit (Loss) ........... 9,196 24,516 (4,968) 105 28,849
Non-Operating (Expense) Income . . . (18,282) 125,271 1,695 (101,661) 7,023
Interest Expense (Income) ......... 107,102 49,003 (5,207) (101,556) 49,342
(Loss) Earnings from Continuing
Operations Before Income Taxes
and Cumulative Effect of Change in
Accounting Principle ........... (116,188) 100,784 1,934 — (13,470)
Income Tax (Benefit) Expense ...... (41,445) 34,400 646 — (6,399)
Equity in Earnings of Subsidiaries . . . 71,932 — — (71,932) —
Net (Loss) Earnings from Continuing
Operations Before Cumulative
Effect of Change in Accounting
Principle .................... (2,811) 66,384 1,288 (71,932) (7,071)
Earnings From Discontinued
Operations, Net of Tax .......... 73 4,260 — — 4,333
Cumulative Effect of Change in
Accounting Principle, Net of Tax . . . 189 — — — 189
Net (Loss) Earnings ............. $ (2,549) $ 70,644 $ 1,288 $(71,932) $ (2,549)
62
10-K