Big Lots 2013 Annual Report Download - page 162

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Item 6. Selected Financial Data
The following statements of operations and balance sheet data have been derived from our consolidated financial statements
and should be read in conjunction with MD&A and the consolidated financial statements and related notes included herein.
Fiscal Year (d)
(In thousands, except per share amounts and store counts) 2013 (a) (c) 2012 (b) (c) 2011 (a) (c) 2010 (a) 2009 (a)
Net sales $5,301,912 $5,367,165 $5,159,249 $ 4,905,631 $4,675,575
Cost of sales (exclusive of depreciation expense shown separately below) 3,236,606 3,254,837 3,096,200
2,904,600 2,768,866
Gross margin 2,065,306 2,112,328 2,063,049
2,001,031 1,906,709
Selling and administrative expenses 1,759,745 1,708,160 1,629,218
1,569,271 1,525,074
Depreciation expense 115,122 106,137 90,135
78,540 74,822
Gain on sale of real estate
—
—
—
—
(12,964)
Operating profit 190,439 298,031 343,696
353,220 319,777
Interest expense (3,339)(4,192)(3,530 ) (2,573)(1,840)
Other income (expense) (1,213)51 (173 ) 612 175
Income from continuing operations before income taxes 185,887 293,890 339,993
351,259 318,112
Income tax expense 61,118 116,921 133,835
131,132 119,852
Income from continuing operations 124,769 176,969 206,158
220,127 198,260
Income from discontinued operations, net of tax 526 152 906
2,397 2,109
Net income $125,295 $177,121 $207,064 $ 222,524 $200,369
Earnings per common share - basic:
Continuing operations $2.17 $2.96 $3.02 $ 2.84 $2.43
Discontinued operations 0.01
—
0.01
0.03 0.03
$2.18 $2.96 $3.03 $ 2.87 $2.45
Earnings per common share - diluted:
Continuing operations $2.15 $2.93 $2.97 $ 2.80 $2.40
Discontinued operations 0.01
—
0.01
0.03 0.03
$2.16 $2.93 $2.98 $ 2.83 $2.42
Weighted-average common shares outstanding:
Basic 57,415 59,852 68,316
77,596 81,619
Diluted 57,958 60,476 69,419
78,581 82,681
Balance sheet data:
Total assets $1,739,599 $1,753,626 $1,641,310 $ 1,619,599 $1,669,493
Working capital 543,614 460,996 421,836
509,788 580,446
Cash and cash equivalents 68,629 60,581 68,547
177,539 283,733
Long-term obligations under bank credit facility 77,000 171,200 65,900
—
—
Shareholders’ equity $901,427 $758,142 $823,233 $ 946,793 $1,001,412
Cash flow data:
Cash provided by operating activities $198,334 $281,133 $318,471 $ 315,257 $392,026
Cash used in investing activities $(97,495)$(130,357)$(120,712)
$ (114,552)$(77,937)
Store data:
Total gross square footage 47,489 47,376 45,780
42,037 40,591
Total selling square footage 34,255 34,267 33,119
30,210 29,176
Stores opened during the fiscal year 57 87 92
80 52
Stores acquired during the fiscal year
—
—
89
—
—
Stores closed during the fiscal year (61)(46)(46 ) (43)(30)
Stores open at end of the fiscal year 1,570 1,574 1.533
1,398 1,361
(a) The period presented is comprised of 52 weeks.
(b) The period presented is comprised of 53 weeks.