Dick's Sporting Goods 2015 Annual Report Download - page 66

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The Company uses quoted prices in active markets to determine the fair value of the aforementioned assets determined to be
Level€1 instruments. The Company's policy for recognition of transfers between levels of the fair value hierarchy is to
recognize any transfer at the end of the fiscal quarter in which the determination to transfer was made. The Company did not
transfer any assets or liabilities among the levels of the fair value hierarchy during the fiscal year ended January 30, 2016 and
January 31, 2015. Additionally, the Company did not hold any Level 2 or Level 3 assets or liabilities during fiscal 2015 and
fiscal 2014.
DICK'S SPORTING GOODS,€INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
16. Quarterly Financial Information (Unaudited)
Summarized quarterly financial information for fiscal 2015 and 2014 is as follows (in thousands, except earnings per share
data):
Fiscal 2015
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Net sales $1,565,308 $1,822,979 $1,642,627 $2,240,051
Gross profit€(1) 468,988 553,558 488,376 671,966
Income from operations (1) 101,912 148,407 77,081 207,794
Net income (1) 63,345 90,839 47,215 (2) 128,993
Earnings per common share:
Basic (1) $0.54 $0.78 $0.41 $1.15
Diluted (1) $0.53 $0.77 $0.41 $1.13
Weighted average common shares outstanding:
Basic 117,044 116,281 114,978 112,618
Diluted 118,906 117,805 116,506 113,960
Fiscal 2014
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter€
Net sales $1,438,908 $1,688,890 $1,526,675 $2,160,006
Gross profit€ (1) 440,883 502,556 451,972 691,256
Income from operations (1) 112,088 111,562 79,930 250,480
Net income 69,984 (3) 69,467 (4) 49,211 155,536
Earnings per common share:
Basic (1) $0.58 $0.58 $0.42 $1.32
Diluted (1) $0.57 $0.57 $0.41 $1.30
Weighted average common shares outstanding:
Basic 121,138 119,950 118,142 117,745
Diluted 123,360 121,840 120,002 119,749
(1) Quarterly results for fiscal 2015 and 2014 do not add to full year results due to rounding.
(2) Includes litigation settlement charge of $4.7 million.
(3) Includes gain on sale of a Gulfstream G650 corporate aircraft of $8.7 million.
(4) Includes golf restructuring charges of $12.2 million.
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