Cracker Barrel 2015 Annual Report Download - page 49

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47
As of July 31, 2015, the Company is secondarily liable for
lease payments associated with one property. e Company
is not aware of any non-performance under this lease
arrangement that would result in the Companyhaving to
perform in accordance with the terms of this guarantee, and
therefore, no provision has been recorded in the Consoli-
dated Balance Sheetsfor amounts to be paid in case of
non-performance by the third partyby the primary obligor
under such lease agreement.
e Company enters into certain indemnication agree-
ments in favor of third parties in the ordinary courseof
business. At August 1, 2014 and July 31, 2015, the Company
recorded a liability related to legal costs.e Company
believes that the amount recorded is immaterial to the
Company’sconsolidated results of operations and nancial
position and that the probability of incurring an actual
liability under other indemnication agreements is su-
ciently remote so that no additional liability hasbeen
recorded in the Consolidated Balance Sheets.
16 QUARTERLYFINANCIAL DATA
(UNAUDITED)
Quarterly nancial data for 2015 and 2014 are summarized
as follows:
1st Quarter 2nd Quarter3rd Quarter 4th Quarter
2015
Total revenue $683,428 $755,966 $683,705 $719,185
Store operating income 88,634 108,411 94,047 111,332
Income before
income taxes 51,018 66,537 51,447 69,199
Netincome 34,024 47,163 35,317 47,399
Netincome per share –
basic $1.43 $1.97 $1.48 $1.98
Netincome per share –
diluted $ 1.42 $1.96 $1.47 $1.97
2014
Total revenue $649,141 $698,491 $643,298 $692,747
Store operating income 81,124 88,634 77,754 90,281
Income before
income taxes 39,830 54,235 40,886 55,898
Netincome 27,160 37,055 28,728 39,185
Netincome per share –
basic $1.14 $1.56 $1.21 $1.65
Netincome per share –
diluted $ 1.14 $1.55 $1.20 $1.63