Sally Beauty Supply 2013 Annual Report Download - page 140

Download and view the complete annual report

Please find page 140 of the 2013 Sally Beauty Supply annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 156

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156

Sally Beauty Holdings, Inc. and Subsidiaries
Notes to Consolidated Financial Statements (Continued)
Fiscal Years ended September 30, 2013, 2012 and 2011
Business Segments Information
Segment data for the fiscal years ended September 30, 2013, 2012 and 2011 is as follows (in thousands):
Year Ended September 30,
2013 2012 2011
Net sales:
Sally Beauty Supply .................. $2,230,028 $2,198,468 $2,012,407
BSG............................. 1,392,188 1,325,176 1,256,724
Total ........................... $3,622,216 $3,523,644 $3,269,131
Earnings before provision for income taxes:
Segment operating profit:
Sally Beauty Supply(a) .............. $ 437,018 $ 429,520 $ 380,963
BSG(a) ......................... 200,492 182,699 164,660
Segment operating profit ............ 637,510 612,219 545,623
Unallocated expenses(a)(b) ............ (97,947) (96,012) (81,594)
Share-based compensation expense ....... (19,201) (16,852) (15,560)
Interest expense(c) .................. (107,695) (138,412) (112,530)
Total ........................... $ 412,667 $ 360,943 $ 335,939
Identifiable assets:
Sally Beauty Supply .................. $ 913,395 $ 864,598 $ 766,896
BSG............................. 973,764 959,784 908,093
Sub-total ........................ 1,887,159 1,824,382 1,674,989
Corporate ......................... 62,927 241,418 53,611
Total ........................... $1,950,086 $2,065,800 $1,728,600
Depreciation and amortization:
Sally Beauty Supply .................. $ 37,077 $ 31,397 $ 28,763
BSG............................. 24,964 25,984 25,099
Corporate ......................... 10,151 7,317 5,860
Total ........................... $ 72,192 $ 64,698 $ 59,722
Capital expenditures:
Sally Beauty Supply .................. $ 60,565 $ 42,158 $ 34,946
BSG............................. 15,744 11,977 14,145
Corporate ......................... 8,570 14,951 10,864
Total ........................... $ 84,879 $ 69,086 $ 59,955
(a) For the fiscal year ended September 30, 2012, Sally Beauty Supply’s operating profit reflects
a $10.2 million charge resulting from a loss contingency. For the fiscal year ended
September 30, 2011, consolidated operating earnings reflect a net favorable impact of
$21.3 million; including a $27.0 million credit from a litigation settlement and certain
non-recurring charges of $5.7 million. This net benefit of $21.3 million is reflected in the
F-38