DSW 2012 Annual Report Download - page 42

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F- 2
DSW INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
YEARS ENDED FEBRUARY 2, 2013, JANUARY 28, 2012 AND JANUARY 29, 2011
(in thousands, except per share amounts)
February 2, 2013 January 28, 2012 January 29, 2011
Net sales $ 2,257,778 $ 2,024,329 $ 1,822,376
Cost of sales (1,533,058)(1,370,382)(1,256,695)
Operating expenses (481,797)(448,583)(396,107)
Change in fair value of derivative instruments (6,121)(53,914)(49,014)
Operating profit 236,802 151,450 120,560
Interest expense (894)(11,804)(13,506)
Interest income 4,705 2,623 3,239
Interest income (expense), net 3,811 (9,181)(10,267)
Non-operating income — — 1,500
Income from continuing operations before income taxes 240,613 142,269 111,793
Income tax (provision) benefit (95,427) 58,069 (59,973)
Income from continuing operations 145,186 200,338 51,820
Income from discontinued operations, net of tax - Value City
Department Stores — 183 2,733
Income (loss) from discontinued operations, net of tax - Filene’s
Basement 1,253 (5,038) 3,895
Total income (loss) from discontinued operations, net of tax 1,253 (4,855) 6,628
Net income 146,439 195,483 58,448
Less: net income attributable to the noncontrolling interests — (20,695)(40,654)
Net income, net of noncontrolling interests $ 146,439 $ 174,788 $ 17,794
Basic and diluted earnings (loss) per share:
Basic earnings per share from continuing operations, net of
noncontrolling interests $ 3.27 $ 5.10 $ 0.52
Diluted earnings per share from continuing operations, net of
noncontrolling interests $ 3.20 $ 4.68 $ 0.52
Basic earnings (loss) per share from discontinued operations $ 0.03 $ (0.14) $ 0.31
Diluted earnings (loss) per share from discontinued operations $ 0.03 $ (0.14) $ 0.31
Basic earnings per share, net of noncontrolling interests $ 3.30 $ 4.96 $ 0.83
Diluted earnings per share, net of noncontrolling interests $ 3.23 $ 4.54 $ 0.82
Shares used in per share calculations:
Basic shares 44,423 35,220 21,438
Diluted shares 45,303 37,138 21,576
Income from continuing operations, net of tax and noncontrolling interests:
Income from continuing operations, net of tax and
noncontrolling interests $ 145,186 $ 179,643 $ 11,166
Income (loss) from discontinued operations, net of tax 1,253 (4,855) 6,628
Net income, net of noncontrolling interests $ 146,439 $ 174,788 $ 17,794
The accompanying Notes are an integral part of the Consolidated Financial Statements.
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