Coach 2006 Annual Report Download - page 31
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Operating income 993,397 714,707 535,660
Interest income, net 41,273 32,623 15,760
Income before provision for income taxes, minority interest and
discontinued operations
1,034,670 747,330 551,420
Provision for income taxes 398,141 283,490 201,132
Minority interest, net of tax — — 13,641
Income from continuing operations 636,529 463,840 336,647
Income from discontinued operations, net of income taxes (Note 3) 27,136 30,437 21,965
Net income $ 663,665 $ 494,277 $ 358,612
Net income per share
Basic
Continuing operations $ 1.72 $ 1.22 $ 0.89
Discontinued operations 0.07 0.08 0.06
Net income $ 1.80 $ 1.30 $ 0.95
Diluted
Continuing operations $ 1.69 $ 1.19 $ 0.86
Discontinued operations 0.07 0.08 0.06
Net income $ 1.76 $ 1.27 $ 0.92
Shares used in computing net income per share
Basic 369,661 379,635 378,670
Diluted 377,356 388,495 390,191
See accompanying Notes to Condensed Consolidated Financial Statements.
40
Balances at July 3, 2004 $ 796,036 $ — $ 3,792 $ 420,718 $ 369,331 $ 2,195 379,236
Net income 358,612 — — — 358,612 — $ 358,612
Shares issued for stock
options and employee
benefit plans
42,988 — 102 42,886 — — 10,194
Share-based compensation 55,880 — — 55,880 — —
Excess tax benefit from share-
based compensation
68,667 — — 68,667 — —
Repurchase of common stock (264,971) — (110) (21,889) (242,972) — (11,000)
Changes in derivatives
balances, net of tax
1,229 — — — — 1,229 1,229
Translation adjustments (2,331) — — — — (2,331) (2,331)
Minimum pension liability (190) — — — — (190) (190)
Comprehensive income $ 357,320
Balances at July 2, 2005 1,055,920 — 3,784 566,262 484,971 903 378,430
Net income 494,277 — — — 494,277 — $ 494,277
Shares issued for stock
options and employee
benefit plans
78,444 — 105 78,339 — — 10,456
Share-based compensation 69,190 — — 69,190 — —
Excess tax benefit from share-
based compensation
99,337 — — 99,337 — —
Repurchase of common stock (600,271) — (191) (37,919) (562,161) — (19,055)
Changes in derivatives
balances, net of tax
(4,488) — — — — (4,488) (4,488)
Translation adjustments (3,780) — — — — (3,780) (3,780)
Minimum pension liability 105 — — — — 105 105
Comprehensive income $ 486,114
Balances at July 1, 2006 1,188,734 — 3,698 775,209 417,087 (7,260) 369,831
Net income 663,665 — — — 663,665 — $ 663,665