Rite Aid 2012 Annual Report Download - page 114

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RITE AID CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
For the Years Ended March 3, 2012, February 26, 2011 and February 27, 2010
(In thousands, except per share amounts)
19. Interim Financial Results (Unaudited) (Continued)
Fiscal Year 2011
First Second Third Fourth
Quarter Quarter Quarter Quarter Year
Revenues ..................... $6,394,336 $6,161,752 $6,202,353 $6,456,466 $25,214,907
Cost of goods sold .............. 4,682,632 4,523,092 4,561,200 4,755,479 18,522,403
Selling, general and administrative
expenses ................... 1,622,934 1,626,704 1,578,142 1,630,053 6,457,833
Lease termination and impairment
charges .................... 13,457 26,360 17,003 154,073 210,893
Interest expense ................ 141,619 139,716 133,742 132,504 547,581
Loss on debt modifications and
retirements, net .............. — 44,003 — — 44,003
(Gain) loss on sale of assets and
investments, net .............. 237 (3,973) (7,050) (11,438) (22,224)
6,460,879 6,355,902 6,283,037 6,660,671 25,760,489
Loss before income taxes ......... (66,543) (194,150) (80,684) (204,205) (545,582)
Income tax expense (benefit) ...... 7,141 2,826 (1,613) 1,488 9,842
Net loss ...................... $ (73,684) $ (196,976) $ (79,071) $ (205,693) $ (555,424)
Basic loss per share(1) ........... $ (0.09) $ (0.23) $ (0.09) $ (0.24) $ (0.64)
Diluted loss per share(1) ......... $ (0.09) $ (0.23) $ (0.09) $ (0.24) $ (0.64)
(1) Loss per share amounts for each quarter may not necessarily total to the yearly loss per share due
to the weighting of shares outstanding on a quarterly and year-to-date basis.
During the first quarter of 2012, the Company recorded a loss on debt modification related to the
repayment of its Tranche 3 Term Loan as discussed in Note 9. During the fourth quarter of fiscal 2012,
the Company recorded facilities impairment charges of $56,305 and LIFO expense of $121,219 as
inflation was higher than at prior year end.
During the second quarter of 2011, the Company recorded a loss on debt modification related to
the repayment of its Tranche 4 Term Loan as discussed in Note 9. During the fourth quarter of fiscal
2011, the Company recorded facilities impairment charges of $111,923 and LIFO expense of $825 as
inflation was lower than at prior year end.
114