Aarons 2014 Annual Report Download - page 58

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48
AARON’S, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
Year Ended
December 31,
2014
Year Ended
December 31,
2013
Year Ended
December 31,
2012
(In Thousands, Except Per Share Data)
REVENUES:
Lease Revenues and Fees $ 2,251,780 $ 1,748,699 $ 1,676,391
Retail Sales 38,360 40,876 38,455
Non-Retail Sales 363,355 371,292 425,915
Franchise Royalties and Fees 65,902 68,575 66,655
Other 5,842 5,189 5,411
2,725,239 2,234,631 2,212,827
COSTS AND EXPENSES:
Depreciation of Lease Merchandise 932,634 628,089 601,552
Retail Cost of Sales 24,541 24,318 21,608
Non-Retail Cost of Sales 330,057 337,581 387,362
Operating Expenses 1,262,007 1,022,684 952,617
Financial Advisory and Legal Costs 13,661 — —
Restructuring Expenses 9,140 — —
Retirement and Vacation Charges 9,094 4,917 10,394
Progressive-Related Transaction Costs 6,638 — —
Legal and Regulatory (Income) Expense (1,200) 28,400 (35,500)
Other Operating (Income) Expense, Net (1,176) 1,584 (2,235)
2,585,396 2,047,573 1,935,798
OPERATING PROFIT 139,843 187,058 277,029
Interest Income 2,921 2,998 3,541
Interest Expense (19,215)(5,613)(6,392)
Other Non-Operating (Expense) Income, Net (1,845) 517 2,677
EARNINGS BEFORE INCOME TAXES 121,704 184,960 276,855
INCOME TAXES 43,471 64,294 103,812
NET EARNINGS $ 78,233 $ 120,666 $ 173,043
EARNINGS PER SHARE $ 1.08 $ 1.59 $ 2.28
EARNINGS PER SHARE ASSUMING DILUTION $ 1.08 $ 1.58 $ 2.25
The accompanying notes are an integral part of the Consolidated Financial Statements.