Rite Aid 2014 Annual Report Download - page 109

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RITE AID CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
For the Years Ended March 1, 2014, March 2, 2013 and March 3, 2012
(In thousands, except per share amounts)
20. Subsequent Events (Continued)
On April 10, 2014, the Company acquired Houston based RediClinic, which is engaged in the
operation of 30 retail clinics in the greater Houston, Austin and San Antonio areas. RediClinic will
operate as a 100 percent owned subsidiary of the Company.
The Company paid a combined amount of $86.0 million and assumed debt of $2.5 million related
to the acquisitions noted above.
21. Interim Financial Results (Unaudited)
Fiscal Year 2014
First Second Third Fourth
Quarter Quarter Quarter Quarter Year
Revenues ..................... $6,293,057 $6,278,165 $6,357,732 $6,597,459 $25,526,413
Cost of goods sold .............. 4,472,066 4,461,804 4,557,066 4,711,743 18,202,679
Selling, general and administrative
expenses ................... 1,609,261 1,602,931 1,632,299 1,716,671 6,561,162
Lease termination and impairment
charges .................... 10,972 11,390 1,672 17,270 41,304
Interest expense ................ 113,064 106,716 102,819 101,992 424,591
Loss on debt retirements, net ...... — 62,172 271 — 62,443
(Gain) loss on sale of assets, net .... (5,180) (1,885) (9,331) 412 (15,984)
6,200,183 6,243,128 6,284,796 6,548,088 25,276,195
Income before income taxes ....... 92,874 35,037 72,936 49,371 250,218
Income tax expense (benefit) ...... 3,212 2,210 1,388 (6,006) 804
Net income ................... $ 89,662 $ 32,827 $ 71,548 $ 55,377 $ 249,414
Basic income per share(1) ........ $ 0.10 $ 0.03 $ 0.05 $ 0.06 $ 0.23
Diluted income per share(1) ....... $ 0.09 $ 0.03 $ 0.04 $ 0.06 $ 0.23
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