Coach 2007 Annual Report Download - page 32

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Current Liabilities:
Accounts payable $ 134,726 $ 109,309
Accrued liabilities 315,930 298,452
Current portion of long-term debt 285 235
Total current liabilities 450,941 407,996
Deferred income taxes 26,417 36,448
Long-term debt 2,580 2,865
Other liabilities 278,086 91,849
Total liabilities 758,024 539,158
Commitments and contingencies (Note 7)
Stockholders’ Equity:
Preferred stock: (authorized 25,000,000 shares; $0.01 par value) none issued — —
Common stock: (authorized 1,000,000,000 shares; $0.01 par value) issued and
outstanding — 336,728,851 and 372,521,112 shares, respectively
3,367 3,725
Additional paid-in-capital 1,115,041 978,664
Retained earnings (fiscal 2008 includes impact of FIN 48 adoption of $48,797) 375,949 940,757
Accumulated other comprehensive income (loss) 21,463 (12,792)
Total stockholders' equity 1,515,820 1,910,354
Total liabilities and stockholders' equity $ 2,273,844 $ 2,449,512
See accompanying Notes to Consolidated Financial Statements.
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Net sales $ 3,180,757 $2,612,456 $ 2,035,085
Cost of sales 773,654 589,470 453,518
Gross profit 2,407,103 2,022,986 1,581,567
Selling, general and administrative expenses 1,259,974 1,029,589 866,860
Operating income 1,147,129 993,397 714,707
Interest income, net 47,820 41,273 32,623
Income before provision for income taxes and discontinued operations 1,194,949 1,034,670 747,330
Provision for income taxes 411,910 398,141 283,490
Income from continuing operations 783,039 636,529 463,840
Income from discontinued operations, net of income taxes (Note 15) 16 27,136 30,437
Net income $ 783,055 $ 663,665 $ 494,277
Net income per share
Basic
Continuing operations $ 2.20 $ 1.72 $ 1.22
Discontinued operations 0.00 0.07 0.08
Net income $ 2.20 $ 1.80 $ 1.30
Diluted
Continuing operations $ 2.17 $ 1.69 $ 1.19
Discontinued operations 0.00 0.07 0.08
Net income $ 2.17 $ 1.76 $ 1.27
Shares used in computing net income per share
Basic 355,731 369,661 379,635
Diluted 360,332 377,356 388,495
See accompanying Notes to Consolidated Financial Statements.