Dick's Sporting Goods 2012 Annual Report Download - page 114

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NON-GAAP NET INCOME AND EARNINGS PER SHARE RECONCILIATION
Impairment of Non-GAAP
Year Ended February 2, 2013 As Reported Investments 1 Total
(In thousands, except per share data)
Net sales $ 5,836,119 $ - $ 5,836,119
Cost of goods sold, including occupancy and distribution costs 3,998,956 - 3,998,956
Gross Profit 1,837,163 - 1,837,163
Selling, general and administrative expenses 1,297,413 - 1,297,413
Pre-opening expenses 16,076 - 16,076
Income From Operations 523,674 - 523,674
Impairment of available-for-sale investments 32,370 (32,370) -
Interest expense 6,034 - 6,034
Other income (4,555) - (4,555)
Income Before Income Taxes 489,825 32,370 522,195
Provision for income taxes 199,116 4,734 203,850
Net Income $ 290,709 $ 27,636 $ 318,345
Earnings Per Common Share:
Basic $ 2.39 $ 2.62
Diluted $ 2.31 $ 2.53
Weighted Average Common Shares Outstanding:
Basic 121,629 121,629
Diluted 125,995 125,995
1 During the second quarter of 2012, the Company fully impaired its investment in JJB Sports and recorded a pre-tax charge of $32.4 million. The Company recorded a
deferred tax asset valuation allowance of approximately $7.9 million for a portion of the $32.4 million net capital loss carryforward that it expects not to realize as a
result of the impairment of its investment in JJB Sports.
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