Sprouts Farmers Market 2014 Annual Report Download - page 43

As of
December 28,
2014
December 29,
2013
December 30,
2012(2)
January 1,
2012(1)
January 2,
2011(1)
Balance Sheet Data
Cash and cash equivalents ................. $ 130,513 $ 77,652 $ 67,211 $ 14,542 $ 4,918
Total assets .............................. 1,369,073 1,172,404 1,103,236 761,646 232,636
Total capital and finance lease obligations,
including current portion .................. 150,698 119,572 107,639 75,409 8,248
Total long-term debt, including current portion . . . 256,357 311,240 426,544 294,764 —
Total stockholders’ equity ................... 685,389 513,771 386,755 267,453 156,660
(1) Fiscal 2010 and the period from January 3, 2011 through April 18, 2011 reflect the sales and
expenses directly attributable to Henry’s operations and include allocations of expenses from Henry’s
previous parent company. These expenses were allocated to Henry’s on the basis that was
considered to reflect fairly or reasonably the utilization of the services provided to, or the benefit
obtained by, Henry’s. Historical financial statements for Henry’s prior to April 18, 2011 do not reflect
the interest expense or debt Henry’s might have incurred if it had been a stand-alone entity.
Additionally, we would have expected to incur other expenses not reflected in our historical financial
statements prior to April 18, 2011, if Henry’s had operated as a stand-alone entity. Commencing on
April 18, 2011, our consolidated financial statements also include the financial position, results of
operations and cash flows of the business we operated prior to the acquisition of Henry’s (such prior
business referred to as “Sprouts Arizona”).
(2) For the period from April 18, 2011 to May 28, 2012 our consolidated financial statements include the
financial position results of operations and cash flows of Henry’s and Sprouts Arizona. Commencing
on May 29, 2012, our consolidated financial statements also include the financial position, results of
operations and cash flows of Sunflower. Fiscal 2012 included $19.5 million of expenses related to the
acquisition and integration of Sunflower and Henry’s.
(3) Fiscal 2013 selling, general and administrative expense included $3.2 million for IPO related bonuses
and $2.0 million for expenses related to the November 2013 Offering.
(4) Fiscal 2014 selling, general and administrative expense included $2.6 million for expenses related to
our April 2014 secondary offering and our August 2014 secondary offering.
(5) Pro forma comparable store sales growth reflects comparable store sales growth calculated including
stores acquired in the Transactions for all reported periods. Our practice is to include sales from a
store in comparable store sales beginning on the first day of the 61st week following the store’s
opening and to exclude sales from a closed store from comparable store sales on the day of closure.
We include sales from an acquired store in comparable store sales on the later of (i) the day of
acquisition or (ii) the first day of the 61st week following the store’s opening. We use pro forma
comparable store sales to calculate pro forma comparable store sales growth.
(6) During Fiscal 2014, we also relocated one store.
Supplemental Pro Forma Data—Net Sales
Fiscal
2014
Fiscal
2013
Fiscal
2012
Fiscal
2011
Fiscal
2010
(dollars in thousands)
Net sales—actual ............... $2,967,424 $2,437,911 $1,794,823 $1,105,879 $ 516,816
Pro forma adjustments(a) ........ — — 196,140 616,776 973,543
Pro forma net sales ............. $2,967,424 $2,437,911 $1,990,963 $1,722,655 $1,490,359
Pro forma comparable store sales
growth(b) ................... 9.9% 10.7% 9.7% 5.1% 2.3%
(a) Pro forma adjustments reflect the net sales of Sprouts Arizona and Sunflower for all periods reported.
(b) Pro forma comparable store sales growth is calculated including all stores acquired in the Transactions
for all periods reported.
40