Aarons 2012 Annual Report Download - page 54

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44
AARON’S, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
Year Ended
Year Ended
Year Ended
December 31,
December 31,
December 31,
2012
2011
2010
(In Thousands, Except Per Share Data)
REVENUES:
Lease Revenues and Fees
$
1,676,391
$
1,516,508
$
1,402,053
Retail Sales
38,455
38,557
40,556
Non-Retail Sales
425,915
388,960
362,273
Franchise Royalties and Fees
66,655
63,255
59,112
Other
15,172
15,051
12,344
2,222,588
2,022,331
1,876,338
COSTS AND EXPENSES:
Retail Cost of Sales
21,719
22,738
23,013
Non-Retail Cost of Sales
389,357
353,745
330,918
Operating Expenses
952,262
868,716
824,929
Lawsuit (Income) Expense
(35,500)
36,500
-
Retirement/Separation Charges
10,394
3,532
-
Depreciation of Lease Merchandise
604,650
550,732
504,105
1,942,882
1,835,963
1,682,965
OPERATING PROFIT
279,706
186,368
193,373
Interest Income
3,541
1,718
509
Interest Expense
(6,392)
(4,709)
(3,096)
EARNINGS BEFORE INCOME TAXES
276,855
183,377
190,786
INCOME TAXES
103,812
69,610
72,410
NET EARNINGS
$
173,043
$
113,767
$
118,376
EARNINGS PER SHARE
$
2.28
$
1.46
$
1.46
EARNINGS PER SHARE ASSUMING DILUTION
$
2.25
$
1.43
$
1.44
The accompanying notes are an integral part of the Consolidated Financial Statements.