Cracker Barrel 2013 Annual Report Download - page 35

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33
Consolidated Statements of Income
(In thousands except share data)
CRACKER BARREL OLD COUNTRY STORE, INC.
Fiscal years ended
August 2, 2013 August 3, 2012 July 29, 2011
Total revenue $ 2,644,630 $ 2,580,195 $ 2,434,435
Cost of goods sold 854,684 827,484 772,471
Gross prot 1,789,946 1,752,711 1,661,964
Labor and other related expenses 962,559 951,435 904,229
Other store operating expenses 482,601 464,130 451,957
Store operating income 344,786 337,146 305,778
General and administrative expenses 143,262 146,171 139,222
Impairment and store dispositions, net — — (625)
Operating income 201,524 190,975 167,181
Interest expense 35,742 44,687 51,490
Income before income taxes 165,782 146,288 115,691
Provision for income taxes 48,517 43,207 30,483
Net income $ 117,265 $ 103,081 $ 85,208
Net income per share – basic $ 4.95 $ 4.47 $ 3.70
Net income per share – diluted $ 4.90 $ 4.40 $ 3.61
Basic weighted average shares outstanding 23,708,875 23,067,566 22,998,200
Diluted weighted average shares outstanding 23,948,321 23,408,126 23,634,675
See Notes to Consolidated Financial Statements.
Consolidated Statements of Comprehensive Income
(In thousands)
Fiscal years ended
August 2, 2013 August 3, 2012 July 29, 2011
Net income $ 117,265 $ 103,081 $ 85,208
Other comprehensive income before income tax expense:
Change in fair value of interest rate swaps 23,620 17,223 14,677
Income tax expense 9,074 349 3,860
Other comprehensive income, net of tax 14,546 16,874 10,817
Comprehensive income $ 131,811 $ 119,955 $ 96,025
See Notes to Consolidated Financial Statements.