Sally Beauty Supply 2013 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, 2013, 2012 and 2011
Condensed Consolidating Statement of Earnings
Fiscal Year Ended September 30, 2013
(In thousands)
Sally Holdings Non- Sally Beauty
LLC and Sally Guarantor Guarantor Consolidating Holdings, Inc.
Parent Capital Inc. Subsidiaries Subsidiaries Eliminations and Subsidiaries
Net sales ............. $ — $ — $2,896,990 $725,226 $ — $3,622,216
Related party sales ...... — — 2,890 — (2,890) —
Cost of products sold and
distribution expenses . . . — — 1,437,620 392,223 (2,890) 1,826,953
Gross profit ......... — — 1,462,260 333,003 — 1,795,263
Selling, general and
administrative expenses . . 9,951 434 912,262 280,062 — 1,202,709
Depreciation and
amortization ......... — — 52,284 19,908 — 72,192
Operating earnings (loss) (9,951) (434) 497,714 33,033 — 520,362
Interest expense ........ — 107,265 32 398 — 107,695
Earnings (loss) before
provision for income
taxes ............. (9,951) (107,699) 497,682 32,635 — 412,667
Provision (benefit) for
income taxes ......... (3,838) (41,832) 190,753 6,433 — 151,516
Equity in earnings of
subsidiaries, net of tax . . 267,264 333,131 26,202 — (626,597) —
Net earnings ......... 261,151 267,264 333,131 26,202 (626,597) 261,151
Other comprehensive
income (loss), net of tax . — — — 835 — 835
Total comprehensive
income (loss) ....... $261,151 $ 267,264 $ 333,131 $ 27,037 $(626,597) $ 261,986
F-42