Aarons 2014 Annual Report Download - page 36

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26
ITEM 6. SELECTED FINANCIAL DATA
The following table sets forth certain selected consolidated financial data of Aaron’s, Inc., which have been derived from its
Consolidated Financial Statements for each of the five years in the period ended December 31, 2014. Certain reclassifications have
been made to the prior periods to conform to the current period presentation. This historical information may not be indicative of the
Company’s future performance. The information set forth below should be read in conjunction with Management’s Discussion and
Analysis of Financial Condition and Results of Operations and the Consolidated Financial Statements and the notes thereto.
(Dollar Amounts in Thousands, Except Per Share Data)
Year Ended
December 31,
2014
Year Ended
December 31,
2013
Year Ended
December 31,
2012
Year Ended
December 31,
2011
Year Ended
December 31,
2010
OPERATING RESULTS
Revenues:
Lease Revenues and Fees $ 2,251,780 $ 1,748,699 $ 1,676,391 $ 1,516,508 $ 1,402,053
Retail Sales 38,360 40,876 38,455 38,557 40,556
Non-Retail Sales 363,355 371,292 425,915 388,960 362,273
Franchise Royalties and Fees 65,902 68,575 66,655 63,255 59,112
Other 5,842 5,189 5,411 5,298 4,799
2,725,239 2,234,631 2,212,827 2,012,578 1,868,793
Costs and Expenses:
Depreciation of Lease Merchandise 932,634 628,089 601,552 547,839 501,467
Retail Cost of Sales 24,541 24,318 21,608 22,619 22,893
Non-Retail Cost of Sales 330,057 337,581 387,362 351,887 329,187
Operating Expenses 1,262,007 1,022,684 952,617 866,600 822,637
Financial Advisory and Legal Costs 13,661 — — — —
Restructuring Expenses 9,140 — — — —
Retirement and Vacation Charges 9,094 4,917 10,394 3,532 —
Progressive-Related Transaction Costs 6,638 — — — —
Legal and Regulatory (Income) Expense (1,200) 28,400 (35,500) 36,500 —
Other Operating (Income) Expense, Net (1,176) 1,584 (2,235) (3,550) (147)
2,585,396 2,047,573 1,935,798 1,825,427 1,676,037
Operating Profit 139,843 187,058 277,029 187,151 192,756
Interest Income 2,921 2,998 3,541 1,718 509
Interest Expense (19,215) (5,613) (6,392) (4,709) (3,096)
Other Non-Operating(Expense) Income, Net (1,845) 517 2,677 (783) 617
Earnings Before Income Taxes 121,704 184,960 276,855 183,377 190,786
Income Taxes 43,471 64,294 103,812 69,610 72,410
Net Earnings $ 78,233 $ 120,666 $ 173,043 $ 113,767 $ 118,376
Earnings Per Share $ 1.08 $ 1.59 $ 2.28 $ 1.46 $ 1.46
Earnings Per Share Assuming Dilution 1.08 1.58 2.25 1.43 1.44
Dividends Per Share:
Common Stock .086 .072 .062 .054 .049
Former Class A Common Stock — — — — .049
FINANCIAL POSITION
(Dollar Amounts in Thousands)
Lease Merchandise, Net $ 1,087,032 $ 869,725 $ 964,067 $ 862,276 $ 814,484
Property, Plant and Equipment, Net 219,417 231,293 230,598 226,619 204,912
Total Assets 2,456,844 1,827,176 1,812,929 1,731,899 1,500,853
Debt 606,082 142,704 141,528 153,789 41,790
Shareholders’ Equity 1,223,521 1,139,963 1,136,126 976,554 979,417
AT YEAR END
Stores Open:
Company-operated 1,326 1,370 1,324 1,232 1,150
Franchised 782 781 749 713 664
Lease Agreements in Effect 1,665,000 1,751,000 1,724,000 1,508,000 1,325,000
Number of Associates 12,400 12,600 11,900 11,200 10,400
Earnings per share data has been adjusted for the effect of the 3-for-2 partial stock split distributed on April 15, 2010 and effective April 16, 2010.