Sally Beauty Supply 2007 Annual Report Download - page 44

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(b)
During fiscal year 2004, Alberto-Culver's board of directors approved the conversion of all then-outstanding Alberto-Culver shares of Class A
common stock into Class B common stock. Fiscal years 2005 and 2004 include non-cash charges related to this conversion.
(c)
Fiscal year 2007 includes one-time charges associated with the Separation Transactions. Fiscal year 2006 includes one-time charges associated with
the termination of an agreement with Regis. See Note 3 of the "Notes to Consolidated Financial Statements" in "Item 8 — Financial Statements and
Supplementary Data."
(d)
Interest expense in fiscal year 2007 is primarily attributable to the debt incurred in connection with the Separation Transactions. Prior to the Separation
Transactions, interest expense was attributable to notes payable to then-affiliates.
(e)
Weighted average shares for fiscal year 2007 was calculated from November 16, 2006 through September 30, 2007, which represents the actual
number of days that shares of the Company's common stock were publicly traded. Net earnings per share were not calculated for fiscal years 2006 and
2005 since we were a wholly-owned subsidiary of Alberto-Culver. See Note 3 of the "Notes to Consolidated Financial Statements" in "Item 8 —
Financial Statements and Supplementary Data."
(f)
Comparable stores are defined as company-owned stores that have been open for at least 14 months as of the last day of a month.
Prior to the Separation Transactions, we were a wholly owned subsidiary of Alberto-Culver. In connection with the Separation Transactions, on November 16,
2006, we distributed: (i) a share of common stock of New Aristotle Holdings, Inc. (subsequently renamed Alberto-Culver Company), and (ii) a special cash
dividend of $25.00 to Alberto-Culver stockholders for each share of our common stock held as of the record date of the separation. Other than the distributions
described above and distributions to Alberto-Culver, we have not declared or paid dividends at any time prior to the date of this report.
We do not anticipate paying regular cash dividends on our common stock in the foreseeable future. We currently anticipate that we will retain future earnings to
support our growth strategy or to repay outstanding debt.
36
Source: Sally Beauty Holding, 10-K, November 29, 2007