Aarons 2006 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) 2006 2005 2004
REVENUES
Rentals and Fees $ 992,791 $ 845,162 $694,293
Retail Sales 62,319 58,366 56,259
Non-Retail Sales 224,489 185,622 160,774
Franchise Royalties and Fees 33,626 29,781 25,253
Other 13,367 6,574 9,901
1,326,592 1,125,505 946,480
COSTS AND EXPENSES
Retail Cost of Sales 41,262 39,054 39,380
Non-Retail Cost of Sales 207,217 172,807 149,207
Operating Expenses 579,565 507,158 414,518
Depreciation of Rental Merchandise 364,109 305,630 253,456
Interest 9,729 8,519 5,413
1,201,882 1,033,168 861,974
Earnings Before Income Taxes 124,710 92,337 84,506
Income Taxes 46,075 34,344 31,890
Net Earnings $ 78,635 $ 57,993 $ 52,616
Earnings Per Share $ 1.50 $ 1.16 $ 1.06
Earnings Per Share Assuming Dilution 1.47 1.14 1.04
The accompanying notes are an integral part of the Consolidated Financial Statements.
Accumulated Other
Comprehensive
(Loss) Income
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, JANUARY 1, 2004 (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 — (14)
Dividends, $.057 per share (3,021)
Stock-Based Compensation 3,671
Reissued Shares 662 4,077 5,169
Stock Offering 1,725 82,274
Net Earnings 78,635
Change in Fair Value of Financial
Instruments, Net of Income Taxes of $8 14
BALANCE, DECEMBER 31, 2006 (6,364) ($32,194) $24,220 $6,032 $183,966 $424,991 $ — $ —
The accompanying notes are an integral part of the Consolidated Financial Statements.