Lifetime Fitness 2012 Annual Report Download - page 50

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44
LIFE TIME FITNESS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
For the Year Ended December 31,
2012 2011 2010
(In thousands, except per share data)
REVENUE:
Membership dues $ 727,596 $ 663,439 $ 603,231
Enrollment fees 15,346 18,447 24,426
In-center revenue 348,265 308,474 266,426
Total center revenue 1,091,207 990,360 894,083
Other revenue 35,740 23,314 18,761
Total revenue 1,126,947 1,013,674 912,844
OPERATING EXPENSES:
Center operations 655,887 614,949 561,070
Advertising and marketing 39,931 36,318 27,098
General and administrative 55,715 54,736 48,060
Other operating 52,170 35,562 23,544
Depreciation and amortization 115,016 98,843 92,313
Total operating expenses 918,719 840,408 752,085
Income from operations 208,228 173,266 160,759
OTHER INCOME (EXPENSE):
Interest expense, net of interest income (25,475)(20,138)(27,795)
Equity in earnings of affiliate 1,482 1,299 1,176
Total other income (expense) (23,993)(18,839)(26,619)
INCOME BEFORE INCOME TAXES 184,235 154,427 134,140
PROVISION FOR INCOME TAXES 72,697 61,810 53,448
NET INCOME $ 111,538 $ 92,617 $ 80,692
BASIC EARNINGS PER COMMON SHARE $ 2.70 $ 2.29 $ 2.03
DILUTED EARNINGS PER COMMON SHARE $ 2.66 $ 2.26 $ 2.00
WEIGHTED AVERAGE NUMBER OF COMMON SHARES
OUTSTANDING - BASIC 41,345 40,358 39,809
WEIGHTED AVERAGE NUMBER OF COMMON SHARES
OUTSTANDING - DILUTED 41,972 40,930 40,385
See notes to consolidated financial statements.