American Home Shield 2011 Annual Report Download - page 32

Table of Contents
PART II
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF
EQUITY SECURITIES
The Company's sole class of issued equity is common stock. As of March 6, 2012, all of the Company's common stock was owned by CDRSVM
Holding, Inc.
On July 24, 2007, the Company completed the Merger pursuant to which the Company's publicly traded securities were cancelled in exchange for cash.
As a result of the Merger transaction, the Company became a privately held corporation, and its equity shares were no longer publicly traded. The Company
has not paid any dividends since the Merger. There are restrictions on the Company's, and its subsidiaries', ability to pay dividends in the future. For further
discussion see "Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations" in this Annual Report on Form 10-K.
ITEM 6. SELECTED FINANCIAL DATA
Five-Year Financial Summary
Successor(1) Predecessor(1)
Year Ended Dec. 31,
Jul. 25,
2007 to
Dec. 31,
2007
Jan. 1, 2007 to
Jul. 24, 2007
(In thousands, except per share data) 2011 2010 2009 2008
Operating Results:
Operating revenue $3,205,872 $3,127,394 $2,977,885 $2,995,126 $1,252,617 $ 1,692,236
Operating income(2) 375,460 306,692 243,834 187,562 36,529 141,851
Percentage of operating revenue 11.7% 9.8% 8.2% 6.3% 2.9% 8.4%
Non-operating expense(3) 263,711 278,308 246,896 357,796 181,602 2,983
Provision (benefit) for income taxes(2)(4) 43,912 10,945 (9,204) (50,753) (50,995) 50,734
Income (Loss) from continuing operations(2)(3)(4) 67,837 17,439 6,142 (119,481) (94,078) 88,134
(Loss) income from discontinued operations, net of
income taxes(5) (27,016) (31,998) 7,353 (6,918) (29,442) (3,610)
Net income (loss)(2)(3)(4)(5) 40,821 (14,559) 13,495 (126,399) (123,520) 84,524
Net income attributable to noncontrolling interests — — — — — 3,423
Net income (loss) attributable to ServiceMaster(2)
(3)(4)(5) $ 40,821 $ (14,559) $ 13,495 $ (126,399) $ (123,520) $ 81,101
Cash dividends per share $ — $ — $ — $ — $ — $ 0.24
Financial Position:
Total assets $7,146,823 $7,098,090 $7,146,389 $7,493,627 $7,591,060
Total liabilities $5,898,904 $5,910,563 $5,960,058 $6,361,268 $6,287,526
Total long-term debt outstanding $3,875,870 $3,948,487 $3,974,944 $4,266,092 $4,130,811
Total shareholder's equity(2)(3)(4)(5) $1,247,919 $1,187,527 $1,186,331 $1,132,359 $1,303,534
Although ServiceMaster continued as the same legal entity after the Merger, the accompanying selected financial data for 2007 is presented for two periods:
Predecessor and Successor, which relate to the period preceding the Merger and the period succeeding the Merger, respectively.
The 2011, 2010 and 2009 results include restructuring charges of $8.2 million, $11.4 million and $26.7 million, respectively, as described in Note 8 to the
Consolidated Financial Statements.
The 2008 results include restructuring charges of $12.2 million. These charges included transition fees, employee severance and retention costs, consulting and
other costs related to the information technology outsourcing initiative; adjustments to lease termination reserves, employee retention and severance costs,
consulting and other costs related to prior restructuring initiatives; and severance, retention, legal fees and other costs associated with the Merger.
The 2007 results include restructuring charges of $18.9 million for the Successor period from July 25, 2007 to December 31, 2007 and $58.4 million for the
Predecessor period from January 1, 2007 to July 24, 2007. These charges
(1)
(2)
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