Aarons 2013 Annual Report Download - page 50

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40
AARON’S, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
Year Ended
December 31,
2013
Year Ended
December 31,
2012
Year Ended
December 31,
2011
(In Thousands, Except Per Share Data)
REVENUES:
Lease Revenues and Fees $ 1,748,699 $ 1,676,391 $ 1,516,508
Retail Sales 40,876 38,455 38,557
Non-Retail Sales 371,292 425,915 388,960
Franchise Royalties and Fees 68,575 66,655 63,255
Other 5,189 5,411 5,298
2,234,631 2,212,827 2,012,578
COSTS AND EXPENSES:
Retail Cost of Sales 24,318 21,608 22,619
Non-Retail Cost of Sales 337,581 387,362 351,887
Operating Expenses 1,022,684 952,617 866,600
Legal and Regulatory Expense/(Income) 28,400 (35,500) 36,500
Retirement and Vacation Charges 4,917 10,394 3,532
Depreciation of Lease Merchandise 628,089 601,552 547,839
Other Operating Expense (Income), Net 1,584 (2,235)(3,550)
2,047,573 1,935,798 1,825,427
OPERATING PROFIT 187,058 277,029 187,151
Interest Income 2,998 3,541 1,718
Interest Expense (5,613)(6,392)(4,709)
Other Non-Operating Income (Expense), Net 517 2,677 (783)
EARNINGS BEFORE INCOME TAXES 184,960 276,855 183,377
INCOME TAXES 64,294 103,812 69,610
NET EARNINGS $ 120,666 $ 173,043 $ 113,767
EARNINGS PER SHARE $ 1.59 $ 2.28 $ 1.46
EARNINGS PER SHARE ASSUMING DILUTION $ 1.58 $ 2.25 $ 1.43
The accompanying notes are an integral part of the Consolidated Financial Statements.