Express 2012 Annual Report Download - page 84
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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 .................. $ — $1,118,503 $1,904,684 $ — $(1,117,373) $1,905,814
Cost of goods sold, buying and
occupancy costs .......... — 776,840 1,567,573 — (1,116,923) 1,227,490
Gross profit ............... — 341,663 337,111 — (450) 678,324
Selling, general, and
administrative expenses .... 2,984 169,753 288,809 (23) (450) 461,073
Other operating expense
(income), net ............ — 16,904 1,093 3 — 18,000
Operating income (loss) ..... (2,984) 155,006 47,209 20 — 199,251
Interest expense ............ — 30,510 — 28,983 — 59,493
Interest income ............ — (16) — — — (16)
(Income) loss in subsidiary . . . (129,939) (39,797) — (153,742) 323,478 —
Other expense (income), net . . — (1,968) — — — (1,968)
Income (loss) before income
taxes ................... 126,955 166,277 47,209 124,779 (323,478) 141,742
Income tax expense
(benefit) ................ (433) 12,535 7,412 (5,160) — 14,354
Net income (loss) ........... $127,388 $ 153,742 $ 39,797 $ 129,939 $ (323,478) $ 127,388
Foreign currency translation . . — — — — — —
Comprehensive income ...... $127,388 $ 153,742 $ 39,797 $ 129,939 $ (323,478) $ 127,388
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