North Face 2000 Annual Report Download - page 25

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23
In thousands, except per share amounts Fiscal year ended December 30, 2000 January 1, 2000 January 2, 1999
Net Sales $5,747,879 $5,551,616 $5,478,807
Costs and Operating Expenses
Cost of products sold 3,842,451 3,657,120 3,586,686
Marketing, administrative and general expenses 1,352,024 1,230,009 1,198,854
Other operating expense, net 43,411 11,855 9,098
5,237,886 4,898,984 4,794,638
Operating Income 509,993 652,632 684,169
Other Income (Expense)
Interest income 7,684 8,936 6,411
Interest expense (88,716) (71,426) (62,282)
Miscellaneous, net 2,572 5,434 3,300
(78,460) (57,056) (52,571)
Income Before Income Taxes and Cumulative
Effect of Change in Accounting Policy 431,533 595,576 631,598
Income Taxes 164,417 229,334 243,292
Income Before Cumulative Effect of Change in Accounting Policy 267,116 366,242 388,306
Cumulative Effect on Prior Years of Change in Accounting Policy
for Revenue Recognition, Net of Income Taxes (6,782) ––
Net Income $ 260,334 $ 366,242 $ 388,306
Earnings Per Common Share – Basic
Income before cumulative effect of change in accounting policy $ 2.31 $ 3.04 $ 3.17
Net income 2.25 3.04 3.17
Earnings Per Common Share – Diluted
Income before cumulative effect of change in accounting policy $ 2.27 $ 2.99 $ 3.10
Net income 2.21 2.99 3.10
Cash Dividends Per Common Share $ .89 $ .85 $ .81
Consolidated Statements of Income
In thousands Fiscal year ended December 30, 2000 January 1, 2000 January 2, 1999
Net Income $260,334 $366,242 $388,306
Other Comprehensive Income (Loss)
Foreign currency translation:
Amount arising during year (36,758) (60,180) 16,109
Less income tax effect 12,049 21,063 (5,638)
Reclassification to net income from disposal of subsidiaries 2,030 ––
Less income tax effect (711) ––
Unrealized gains (losses) on marketable securities:
Amount arising during year (1,176) ––
Less income tax effect 431 ––
Reclassification to net income for losses realized 1,613 ––
Less income tax effect (597) ––
Comprehensive Income $237,215 $327,125 $398,777
See notes to consolidated financial statements.
Consolidated Statements of Comprehensive Income