Supercuts 2008 Annual Report Download - page 55

Acquisitions and new salon construction (a component of organic growth) were the primary drivers of the increase in total assets as of
June 30, 2007 compared to June 30, 2006. Cash increases in our international segment accounted for $11.1 million of the $49.4 million increase
in consolidated cash for the twelve months ended June 30, 2007.
Acquisitions and organic growth were the primary drivers of the increase in total assets as of June 30, 2006 compared to June 30, 2005.
Acquisitions were primarily funded by a combination of operating cash flows, debt and the assumption of acquired liabilities.
Total shareholders' equity at June 30, 2008, 2007, and 2006 was as follows:
During the twelve months ended June 30, 2008, equity increased primarily as a result of net income and increased accumulated other
comprehensive income due primarily to foreign currency translation adjustments as the result of the strengthening of foreign currencies that
underlie our investments in those markets, partially offset by lower common stock and additional paid-in capital balances stemming from share
repurchases during the twelve months ended June 30, 2008.
During the twelve months ended June 30, 2007, equity increased primarily as a result of net income and increased accumulated other
comprehensive income due primarily to foreign currency translation adjustments as the result of the strengthening of foreign currencies that
underlie our investments in those markets, partially offset by lower common stock and additional paid-in capital balances stemming from share
repurchases during the twelve months ended June 30, 2007.
During the twelve months ended June 30, 2006, equity increased as a result of net income, additional paid-in capital recorded in connection
with the exercise of stock options, and increased accumulated other comprehensive income due to foreign currency translation adjustments
stemming from the strengthening of foreign currencies that underlie our investments in those markets, partially offset by share repurchases under
our stock repurchase program.
53
Increase Over Prior
Fiscal Year
Shareholders'
Equity
As of June 30, Dollar
Percentage
(Dollars in thousands)
2008
$
976,186
$
62,878
6.9
%
2007
913,308
41,901
4.8
2006
871,407
116,695
15.5