DSW 2011 Annual Report Download - page 47

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Table of Contents
DSW INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
YEARS ENDED JANUARY 28, 2012, JANUARY 29, 2011 AND JANUARY 30, 2010
(in thousands, except per share amounts)
The accompanying Notes are an integral part of the Consolidated Financial Statements.
F-4
January 28, 2012
January 29, 2011
January 30, 2010
Net sales
$
2,024,329
$
1,822,376
$
1,602,605
Cost of sales
(1,370,382
)
(1,256,695
)
(1,135,113
)
Operating expenses
(448,583
)
(396,107
)
(440,837
)
Change in fair value of derivative instruments
(53,914
)
(49,014
)
(66,499
)
Operating profit (loss)
151,450
120,560
(39,844
)
Interest expense
(11,804
)
(13,506
)
(13,632
)
Interest income
2,623
3,239
2,288
Interest expense, net
(9,181
)
(10,267
)
(11,344
)
Non-operating income (expense), net
1,500
(2,367
)
Income (loss) from continuing operations before income taxes
142,269
111,793
(53,555
)
Income tax benefit (provision)
58,069
(59,973
)
(12,055
)
Income (loss) from continuing operations
200,338
51,820
(65,610
)
Income from discontinued operations, net of tax - Value City
183
2,733
9,513
(Loss) income from discontinued operations, net of tax - Filene’s
Basement
(5,038
)
3,895
50,367
Total (loss) income from discontinued operations, net of tax
(4,855
)
6,628
59,880
Net income (loss)
195,483
58,448
(5,730
)
Less: net income attributable to the noncontrolling interests
(20,695
)
(40,654
)
(20,361
)
Net income (loss), net of noncontrolling interests
$
174,788
$
17,794
$
(26,091
)
Basic and diluted earnings (loss) per share:
Basic earnings (loss) per share from continuing operations, net of
noncontrolling interests
$
5.10
$
0.52
$
(4.04
)
Diluted earnings (loss) per share from continuing operations, net of
noncontrolling interests
$
4.68
$
0.52
$
(4.04
)
Basic (loss) earnings per share from discontinued operations
$
(0.14
)
$
0.31
$
2.82
Diluted (loss) earnings per share from discontinued operations
$
(0.14
)
$
0.31
$
2.82
Basic earnings (loss) per share, net of noncontrolling interests
$
4.96
$
0.83
$
(1.23
)
Diluted earnings (loss) per share, net of noncontrolling interests
$
4.54
$
0.82
$
(1.23
)
Shares used in per share calculations:
Basic
35,220
21,438
21,261
Diluted
37,138
21,576
21,261
Income (loss) from continuing operations, net of tax and noncontrolling
interests:
Income (loss) from continuing operations, net of tax and noncontrolling
interests
$
179,643
$
11,166
$
(85,971
)
(Loss) income from discontinued operations, net of tax
(4,855
)
6,628
59,880
Net income (loss), net of noncontrolling interests
$
174,788
$
17,794
$
(26,091
)