Aarons 2005 Annual Report Download - page 28

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26
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) 2005 2004 2003
REVENUES
Rentals and Fees $ 845,162 $694,293 $553,773
Retail Sales 58,366 56,259 68,786
Non-Retail Sales 185,622 160,774 120,355
Franchise Royalties and Fees 29,474 25,093 19,328
Other 6,881 10,061 4,555
1,125,505 946,480 766,797
COSTS AND EXPENSES
Retail Cost of Sales 39,054 39,380 50,913
Non-Retail Cost of Sales 172,807 149,207 111,714
Operating Expenses 507,158 414,518 344,884
Depreciation of Rental Merchandise 305,630 253,456 195,661
Interest 8,519 5,413 5,782
1,033,168 861,974 708,954
Earnings Before Income Taxes 92,337 84,506 57,843
Income Taxes 34,344 31,890 21,417
Net Earnings $ 57,993 $ 52,616 $ 36,426
Earnings Per Share $ 1.16 $ 1.06 $ 0.74
Earnings Per Share Assuming Dilution $ 1.14 $ 1.04 $ 0.73
The accompanying notes are an integral part of the Consolidated Financial Statements.
Accumulated Other
Comprehensive
Income (Loss)
Additional Derivatives
TreasuryStock Common Stock Paid-In Retained Designated Marketable
(In Thousands, Except Per Share) Shares Amount Common Class A Capital Earnings As Hedges Securities
BALANCE, JANUARY 1, 2003 (8,197) ($41,696) $9,998 $2,681 $87,502 $223,928 ($1,972) $ 104
Dividends, $.022 per share (1,090)
Stock Dividend 4,999 1,340 (54) (6,340)
Reissued Shares 306 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 (7,891) (40,061) 14,997 4,021 88,305 252,924 (941) 941
Dividends, $.039 per share (1,954)
Stock Dividend 7,498 2,011 (80) (9,509)
Reissued Shares 598 2,142 2,807
Net Earnings 52,616
Change in Fair Value of Financial
Instruments, Net of Income Taxes
of $119 662 (1,201)
BALANCE, DECEMBER 31, 2004 (7,293) (37,919) 22,495 6,032 91,032 294,077 (279) (260)
Dividends, $.054 per share (2,693)
Reissued Shares 267 1,648 1,820
Net Earnings 57,993
Change in Fair Value of Financial
Instruments, Net of Income Taxes
of $284 279 246
BALANCE, DECEMBER 31, 2005 (7,026) ($36,271) $22,495 $6,032 $92,852 $349,377 $ —0($ 14)
The accompanying notes are an integral part of the Consolidated Financial Statements.