Aarons 2003 Annual Report Download - page 26

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24
Consolidated Statements of Earnings
Consolidated Statements of Shareholders’ Equity
Year Ended Year Ended Year Ended
December 31, December 31, December 31,
(In Thousands, Except Per Share) 2003 2002 2001
REVENUES
Rentals & Fees $553,773 $459,179 $403,385
Retail Sales 68,786 72,698 60,481
Non-Retail Sales 120,355 88,969 66,212
Other 23,883 19,842 16,603
766,797 640,688 546,681
COSTS & EXPENSES
Retail Cost of Sales 50,913 53,856 43,987
Non-Retail Cost of Sales 111,714 82,407 61,999
Operating Expenses 344,884 293,346 276,682
Depreciation of Rental Merchandise 195,661 162,660 137,900
Interest 5,782 4,767 6,258
708,954 597,036 526,826
Earnings Before Taxes 57,843 43,652 19,855
Income Taxes 21,417 16,212 7,519
Net Earnings $ 36,426 $ 27,440 $ 12,336
Earnings Per Share $ 1.12 $ .87 $ .41
Earnings Per Share Assuming Dilution $ 1.10 $ .86 $ .41
Weighted Average Shares Outstanding 32,643 31,364 29,892
Weighted Average Shares Outstanding Assuming Dilution 33,189 31,850 30,213
The accompanying notes are an integral part of the Consolidated Financial Statements.
Accumulated Other
Comprehensive
Income (Loss)
Additional Derivatives
Treasury Stock Common Stock Paid-In Retained Designated Marketable
(In Thousands, Except Per Share) Shares Amount Common Class A Capital Earnings As Hedges Securities
BALANCE, DECEMBER 31, 2000 (5,645) ($42,722) $9,135 $2,681 $53,662 $185,782 $ 0$0
Dividends, $.027 per share (797)
Reissued Shares 150 1,660 184
Net Earnings 12,336
Change in Fair Value of Financial
Instruments, Net of Income Taxes
of $1,191 (1,954)
BALANCE, DECEMBER 31, 2001 (5,495) (41,062) 9,135 2,681 53,846 197,321 (1,954)
Reacquired Shares (147) (1,667)
Stock Offering 863 33,215
Dividends, $.027 per share (833)
Reissued Shares 177 1,033 441
Net Earnings 27,440
Change in Fair Value of Financial
Instruments, Net of Income Taxes
of $51 (18) 104
BALANCE, DECEMBER 31, 2002 (5,465) (41,696) 9,998 2,681 87,502 223,928 (1,972) 104
Dividends, $.033 per share (1,090)
Stock Dividend 4,999 1,340 (54) (6,340)
Reissued Shares 204 1,635 857
Net Earnings 36,426
Change in Fair Value of Financial
Instruments, Net of Income Taxes
of $1,209 1,031 837
BALANCE, DECEMBER 31, 2003 (5,261) ($40,061) $14,997 $4,021 $88,305 $252,924 ($ 941) $941
The accompanying notes are an integral part of the Consolidated Financial Statements.