Cabela's 2011 Annual Report Download - page 39

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29
ITEM 6. SELECTED FINANCIAL DATA
Fiscal Year (1)
2011 2010 2009 2008 2007
(In Thousands Except Earnings per Share)
Operations Data:
Revenue:
Merchandise sales $ 2,505,733 $ 2,412,486 $ 2,447,635 $ 2,380,655 $ 2,173,995
Financial Services revenue 291,746 227,675 171,414 158,971 159,335
Other revenue 13,687 23,081 13,191 13,095 16,269
Total revenue 2,811,166 2,663,242 2,632,240 2,552,721 2,349,599
Total cost of revenue 1,613,249 1,575,449 1,602,621 1,540,214 1,378,386
Selling, distribution, and
administrative expenses 954,125 895,405 870,147 865,684 818,916
Impairment and restructuring charges 12,244 5,626 66,794 5,784 1,205
Operating income 231,548 186,762 92,678 141,039 151,092
Interest expense, net (24,427) (27,442) (23,109) (29,658) (18,778)
Other non-operating income, net 7,346 7,360 6,955 6,854 6,913
Income before provision for income taxes 214,467 166,680 76,524 118,235 139,227
Provision for income taxes 71,847 54,521 26,907 41,831 51,348
Net income $ 142,620 $ 112,159 $ 49,617 $ 76,404 $ 87,879
Earnings per basic share $ 2.06 $ 1.65 $ 0.74 $ 1.15 $ 1.34
Earnings per diluted share $ 2.00 $ 1.62 $ 0.74 $ 1.14 $ 1.31
Selected Balance Sheet Data:
Cash and cash equivalents (2) $ 304,679 $ 136,419 $ 582,185 $ 410,104 $ 131,182
Working capital (2) (3) 2,491,591 1,747,124 619,354 573,410 263,284
Total assets (3) 5,133,771 4,531,179 2,491,885 2,396,066 2,212,830
Total debt excluding WFB 344,922 345,152 348,279 380,031 403,385
Total debt of WFB (3) (4) 2,844,813 2,496,651 476,664 486,199 260,591
Total stockholders’ equity 1,181,316 1,024,548 984,421 913,705 828,559
Other Data:
Depreciation and amortization $ 71,343 $ 69,872 $ 70,566 $ 64,673 $ 59,863
Property and equipment additions 120,739 79,720 49,817 54,934 364,326
Retail square footage 4,682 4,409 4,333 4,253 4,044
(1) Fiscal years are based on the 52-53 week period ending on the Saturday closest to December 31. Fiscal 2011,
2010, 2008, and 2007 each consisted of 52 weeks and fiscal 2009 consisted of 53 weeks.
(2) Includes amounts for WFB totaling $117 million, $82 million, $371 million, $402 million, and $123 million
at years ended 2011, 2010, 2009, 2008, and 2007, respectively. Our ability to use this cash for non-banking
operations, including its use as working capital for our Retail or Direct businesses, or for retail store
expansion, is limited by regulatory restrictions.
(3) Amounts for 2011 and 2010 include assets and liabilities resulting from the consolidation of the Cabela’s
Master Credit Card Trust and related entities (collectively referred to as the “Trust”) related to a change in
accounting principle. Accordingly, effective January 3, 2010, total assets and liabilities increased $2.15 billion
and $2.25 billion, respectively, and retained earnings and other comprehensive income decreased $93 million,
after tax.
(4) Amounts include time deposits and short-term borrowings of WFB, and for 2011 and 2010, amounts also
include the secured variable funding obligations and secured long-term obligations of the Trust.