Sally Beauty Supply 2011 Annual Report Download - page 144

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Sally Beauty Holdings, Inc. and Subsidiaries
Notes to Consolidated Financial Statements (Continued)
Fiscal Years ended September 30, 2011, 2010 and 2009
Geographic Area Information
Geographic data for the fiscal years ended September 30, 2011, 2010 and 2009 is as follows (in thousands):
Year Ended September 30,
2011 2010 2009
Net sales:(a)
United States ...................... $2,688,062 $2,402,085 $2,202,218
Foreign ........................... 581,069 514,005 434,382
Total ........................... $3,269,131 $2,916,090 $2,636,600
Identifiable assets:
United States ...................... $1,240,894 $1,133,652 $1,105,026
Foreign ........................... 434,095 404,570 340,037
Shared services ..................... 53,611 51,190 45,669
Total ........................... $1,728,600 $1,589,412 $1,490,732
(a) Net sales are attributable to individual countries based on the location of the customer.
21. Subsequent Events
On November 1, 2011, the Company acquired Kappersservice Floral B.V. and two related companies (the
‘‘Floral Group’’) for approximately A22.5 million (approximately $30.8 million), subject to certain
adjustments. The Floral Group is a 19-store distributor of professional beauty products based in
Eindhoven, the Netherlands. The acquisition will be accounted for using the purchase method of
accounting and, accordingly, the results of operations of the Floral Group will be included in the
Company’s consolidated financial statements subsequent to the acquisition date. The acquisition was
funded with cash from operations and with borrowings on our ABL credit facility in the amount of
approximately $17.0 million.
On November 3, 2011, Sally Holdings LLC (‘‘Sally Holdings’’) and Sally Capital, Inc. (together with Sally
Holdings, the ‘‘Issuers’’), both wholly-owned subsidiaries of the Company, the Company and certain of its
domestic subsidiaries entered into a purchase agreement pursuant to which the Issuers sold in a private
placement $750.0 million aggregate principal amount of the Issuers’ 6.875% Senior Notes due 2019 (the
‘‘Senior Notes’’). The Senior Notes bear interest at an annual rate of 6.875%, were issued at 98.5% of par,
and are guaranteed by certain of the Company’s domestic subsidiaries who have guaranteed obligations
under Sally Holdings LLC’s senior credit facilities, existing notes and other indebtedness outstanding prior
to this issuance.
The Company intends to use the net proceeds from the Senior Notes (approximately $737.0 million) to
redeem $430.0 million aggregate principal amount of the Issuers’ outstanding 9.25% senior notes due 2014
(the ‘‘2014 Notes’’), to redeem $275.0 million aggregate principal amount of the Issuers’ outstanding
10.50% senior subordinated notes due 2016 (the ‘‘2016 Notes’’), pursuant to the terms of the indentures
governing the 2014 Notes and the 2016 Notes, as well as to pay accrued and unpaid interest thereof, and
fees and expenses incurred in connection with issuance of the Senior Notes and redemption of the 2014
Notes and the 2016 Notes. The Company expects to complete the redemptions on or about December 5,
2011, subject to certain conditions.
F-44