Big Lots 2012 Annual Report Download - page 153

73
BIG LOTS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 14 — Components of Accumulated Other Comprehensive Loss
The following table summarizes the components of accumulated other comprehensive loss, net of tax, during
2010, 2011, and 2012:
Foreign currency
translation Pension Plan
Total accumulated other
comprehensive loss
(In thousands)
Balance at January 30, 2010 .................... $ — $(13,135) $(13,135)
Period change ............................... — 2,665 2,665
Balance at January 29, 2011 .................... — (10,470) (10,470)
Period change ............................... (1,050) (3,999) (5,049)
Balance at January 28, 2012 .................... (1,050) (14,469) (15,519)
Period change ............................... (383) 2,572 2,189
Balance at February 2, 2013 .................... $(1,433) $(11,897) $(13,330)
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) 2012 2011 2010
U.S. Canada Total U.S. Canada Total U.S. Canada Total
Net sales ............. $5,245,272 $ 154,847 $5,400,119 $5,140,164 $ 62,105 $5,202,269 $4,952,244 $— $4,952,244
Depreciation expense . . . 103,295 2,991 106,286 88,469 1,811 90,280 78,606 — 78,606
Operating profit (loss) . . . 312,147 (13,693) 298,454 357,814 (12,219) 345,595 357,345 — 357,345
Interest expense ........ (4,190) (2) (4,192) (2,739) (791) (3,530) (2,573) — (2,573)
Other income (expense) . 2 49 51 163 (336) (173) 612 — 612
Income (loss)
from continuing
operations before
income taxes ...... 307,959 (13,646) 294,313 355,238 (13,346) 341,892 355,384 — 355,384
Income tax expense ..... 117,286 (138) 117,148 134,657 — 134,657 132,837 — 132,837
Income (loss) from
continuing
operations ......... $ 190,673 $ (13,508) $ 177,165 $ 220,581 $(13,346) $ 207,235 $ 222,547 $— $ 222,547
(in thousands) February 2, 2013 January 28, 2012
U.S. Canada Total U.S. Canada Total
Total assets ........... $1,681,005 $ 72,621 $1,753,626 $1,586,035 $ 55,275 $1,641,310
Our U.S. segment uses the following seven merchandise categories, which match our internal management and
reporting of merchandise net sales: Food, Consumables, Furniture, Home, Seasonal, Hardlines & Toys, and
Electronics & Other. The Food category includes our food and specialty food departments. The Consumables
category includes the 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 Hardlines & Toys category includes the toys, appliances,
tools, paint, and home maintenance departments. The Electronics & Other category includes the electronics,
jewelry, infant accessories, and apparel departments, as well as the results of certain large closeout deals that
we typically acquire through our alternate product sourcing operations. In the fourth quarter of 2012, we
realigned the merchandise categories reported in our U.S. segment to be consistent with the realignment of our
merchandising team. Please see the Reclassifications section of note 1 to the consolidated financial statements
for further discussion.