Urban Outfitters 2009 Annual Report Download - page 79

URBAN OUTFITTERS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The accounting policies of the operating segments are the same as the policies described in
Note 2, “Summary of Significant Accounting Policies.” Both the retail and wholesale segments are
highly diversified. No customer comprises more than 10% of sales. A summary of the information
about the Company’s operations by segment is as follows:
Fiscal Year
2009 2008 2007
Net sales
Retail operations ....................................................... $1,724,558 $1,413,251 $1,150,511
Wholesale operations .................................................... 120,364 102,479 79,687
Intersegment elimination ................................................. (10,304) (8,006) (5,481)
Total net sales ..................................................... $1,834,618 $1,507,724 $1,224,717
Income from operations
Retail operations ....................................................... $ 297,572 $ 219,248 $ 159,338
Wholesale operations .................................................... 28,170 21,438 18,319
Intersegment elimination ................................................. (11,209) (1,325) (1,504)
Total segment operating income ........................................... 314,533 239,361 176,153
General corporate expenses ............................................... (15,098) (14,416) (12,164)
Total income from operations ......................................... $ 299,435 $ 224,945 $ 163,989
Depreciation expense for property and equipment
Retail operations ....................................................... $ 78,892 $ 68,123 $ 53,458
Wholesale operations .................................................... 613 615 437
Total depreciation expense for property and equipment ..................... $ 79,505 $ 68,738 $ 53,895
Inventories
Retail operations ....................................................... $ 157,030 $ 159,015
Wholesale operations .................................................... 12,668 12,910
Total inventories ................................................... $ 169,698 $ 171,925
Property and equipment, net
Retail operations ....................................................... $ 500,650 $ 486,031
Wholesale operations .................................................... 4,757 2,858
Total property and equipment, net ...................................... $ 505,407 $ 488,889
Cash paid for property and equipment
Retail operations ....................................................... $ 111,658 $ 113,914 $ 211,533
Wholesale operations .................................................... 895 1,456 496
Total cash paid for property and equipment .............................. $ 112,533 $ 115,370 $ 212,029
The Company has foreign operations in Europe and Canada. Revenues and long-lived assets, based upon our
domestic and foreign operations, are as follows:
Fiscal Year
2009 2008 2007
Net sales
Domestic operations ..................................................... $1,663,616 $1,373,162 $1,132,053
Foreign operations ...................................................... 171,002 134,562 92,664
Total net sales ..................................................... $1,834,618 $1,507,724 $1,224,717
Property and equipment, net
Domestic operations ..................................................... $ 460,551 $ 434,776
Foreign operations ...................................................... 44,856 54,113
Total property and equipment, net ...................................... $ 505,407 $ 488,889
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