Sprouts Farmers Market 2013 Annual Report Download - page 62

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Table of Contents
SPROUTS FARMERS MARKET, INC.
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
For the Fiscal Year Ended December 30, 2012
(in thousands, except per share amounts)
The accompanying notes are an integral part of, and should be read together with, this unaudited pro forma condensed
consolidated financial information.
57
Pro Forma Adjustments for
Historical
Sprouts
Farmers
Market,
Inc.(1)
Historical
Sunflower
(1)
Sunflower
Fiscal
Period
Alignment
(2)
Sunflower
Transaction
(2)
Notes
Pro Forma
for
Sunflower
Transaction
(2)
Net sales
$
1,794,823
$
197,612
$
(1,472
)
$
—
$
1,990,963
Cost of sales, buying and occupancy
1,264,514
138,880
(1,011
)
775
(2
)(a)
1,403,158
Gross profit
530,309
58,732
(461
)
(775
)
587,805
Direct store expenses
368,323
35,956
(287
)
(261
)
(2
)(b)
403,731
Selling, general and administrative expenses
86,364
13,386
(90
)
(8,049
)
(2
)(c)
91,611
Store pre-opening costs
2,782
2,450
(14
)
—
5,218
Store closure and exit costs
2,155
59
—
—
2,214
Income from operations
70,685
6,881
(70
)
7,535
85,031
Interest expense
(35,488
)
(2,019
)
14
(2,757
)
(2
)(d)
(40,250
)
Other income
562
88
(1
)
—
649
Loss on extinguishment of debt
(992
)
—
—
—
(
992
)
Income before income taxes
34,767
4,950
(57
)
4,778
44,438
Income tax (provision) benefit
(15,267
)
(2,796
)
14
(1,863
)
(2
)(e)
(19,912
)
Net income
$
19,500
$
2,154
$
(43
)
$
2,915
$
24,526
Per Share Information:
Net income—basic
$
0.16
(2
)(f)
$
0.20
Net income—diluted
$
0.16
(2
)(f)
$
0.19
Weighted Average Shares:
Basic
119,427
(2
)(f)
125,510
Diluted
121,781
(2
)(f)
127,864