Express 2011 Annual Report Download - page 93
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EXPRESS, INC.
CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME
(Amounts in thousands)
2010
Express, Inc.
Subsidiary
Issuers
Guarantor
Subsidiaries
Other
Subsidiaries Eliminations
Consolidated
Total
Net sales ................... $ — $1,905,814 $ — $ — $ — $1,905,814
Cost of goods sold, buying and
occupancy costs ........... — 1,227,490 — — — 1,227,490
Gross profit ................. — 678,324 — — — 678,324
Selling, general, and
administrative expenses ..... 2,984 458,428 (316) (23) — 461,073
Other operating expense
(income), net .............. — 17,997 — 3 — 18,000
Operating income (loss) ....... (2,984) 201,899 316 20 — 199,251
Interest expense .............. — 30,510 — 28,983 — 59,493
Interest income .............. — (16) — — — (16)
(Income) loss in subsidiary ..... (129,939) (316) — (153,742) 283,997 —
Other expense (income), net .... — (1,968) — — — (1,968)
Income (loss) before income
taxes .................... 126,955 173,689 316 124,779 (283,997) 141,742
Income tax expense (benefit) . . . (433) 19,947 — (5,160) — 14,354
Net income (loss) ............ $127,388 $ 153,742 $ 316 $ 129,939 $(283,997) $ 127,388
Foreign currency translation .... — — — — — —
Comprehensive income ........ $127,388 $ 153,742 $ 316 $ 129,939 $(283,997) $ 127,388
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