Big Lots 2011 Annual Report Download - page 188

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BIG LOTS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 15 — Business Segment Data
We manage our business as two segments: U.S. and Canada. The following tables summarize net sales, results
of operations, and total assets, by segment:
(in thousands) 2011 2010 2009
U.S. Canada Total U.S. Canada Total U.S. Canada Total
Net sales . . . . . . . . . . . . . . . $5,140,164 $ 62,105 $5,202,269 $4,952,244 $ — $4,952,244 $4,726,772 $ — $4,726,772
Depreciation expense . . . . . 88,469 1,811 90,280 78,606 — 78,606 74,904 — 74,904
Operating profit (loss) ..... 357,814 (12,219) 345,595 357,345 — 357,345 325,010 — 325,010
Interest expense .......... (2,739) (791) (3,530) (2,573) — (2,573) (1,840) — (1,840)
Other income (expense) . . . 163 (336) (173) 612 — 612 175 — 175
Income (loss)
from continuing
operations before
income taxes . . . . . . . . 355,238 (13,346) 341,892 355,384 — 355,384 323,345 — 323,345
Income tax expense ....... 134,657 — 134,657 132,837 — 132,837 121,975 — 121,975
Income (loss)
from continuing
operations ........... $ 220,581 $(13,346) $ 207,235 $ 222,547 $ — $ 222,547 $ 201,370 $ — $ 201,370
(in thousands) January 28, 2012 January 29, 2011
U.S. Canada Total U.S. Canada Total
Total assets . . . . . . . . . . . . . $1,586,035 $ 55,275 $1,641,310 $1,619,599 $ — $1,619,599
Our U.S. segment uses the following six merchandise categories, which match our internal management and
reporting of merchandise net sales: Consumables, Furniture, Home, Seasonal, Play n’ Wear, and Hardlines
& Other. The Consumables category includes the food, health and beauty, plastics, paper, chemical, and pet
departments. The Furniture category includes the upholstery, mattresses, ready-to-assemble, and case goods
departments. Case goods consist of bedroom, dining room, fireplaces, and other occasional furniture. The
Home category includes the domestics, stationery, and home decorative departments. The Seasonal category
includes the lawn & garden, Christmas, summer, and other holiday departments. The Play n’ Wear category
includes the electronics, toy, jewelry, infant accessories, and apparel departments. The Hardlines & Other
category includes the appliances, tools, paint, and home maintenance departments, as well as the results of
certain large closeout deals that are typically acquired through our alternate product sourcing operations. In the
third quarter of 2011, we realigned the merchandise categories reported in our U.S. segment to be consistent
with the realignment of our merchandising team. As discussed in the Reclassifications section of note 1 to the
accompanying consolidated financial statements, the categories known as Hardlines and Other prior to the third
quarter of 2011 are now known as Play n’ Wear and Hardlines & Other, respectively.
The following table presents net sales data by segment and category:
(In thousands) 2011 2010 2009
U.S.
Consumables ......................................... $1,571,771 $1,452,783 $1,456,370
Furniture............................................. 883,341 829,725 716,785
Home ............................................... 799,494 783,860 717,744
Play n’ Wear .......................................... 776,445 811,750 806,247
Seasonal ............................................. 683,498 642,220 591,321
Hardlines & Other ..................................... 425,615 431,906 438,305
Total U.S. ......................................... 5,140,164 4,952,244 4,726,772
Canada ................................................. 62,105 — —
Net sales................................................ $5,202,269 $4,952,244 $4,726,772