WeightWatchers 2013 Annual Report Download - page 119

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WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
wrote-off $1,328 of fees in connection with the March 2012 refinancing of its debt that the Company recorded as
an early extinguishment of debt charge.
As discussed in further detail in Note 13, in the fourth quarter of fiscal 2012, the Company recognized a
$4,099 net benefit ($7,423 pre-tax), or $0.07 per fully diluted share, from an accrual reversal associated with the
settlement in the quarter of the previously reported UK self-employment tax litigation. The $7,423 pre-tax net
benefit associated with the settlement consisted of an over-accrual reversal to cost of revenues of $14,544
partially offset by an additional interest accrual of $7,130.
As discussed in further detail in Note 1, the classification of certain brand marketing funds received from
licensees has been revised to reflect them as revenue as opposed to being recorded as an offset to expense,
increasing revenues and gross profit the first nine months of fiscal 2013 and all four quarters of fiscal 2012.
F-33