Cabela's 2011 Annual Report Download - page 8

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Fiscal Year Ended
January 2, 2010
Fiscal Year Ended
December 27, 2008
GAAP Basis
as Reported
Excluded
Amounts
Non-GAAP
as Adjusted
GAAP Basis
as Reported
Excluded
Amounts
Non-GAAP
as Adjusted
(Dollars in Thousands Except Earnings Per Share)
Total revenue (1) $2,632,240 $(2,557) $2,629,683 $2,552,721 $4,357 $2,557,078
Total cost of revenue (exclusive of
depreciation and amortization) 1,602,621 -1,602,621 1,540,214 -1,540,214
Selling, distribution, and administrative expenses 870,147 -870,147 865,684 -865,684
Impairment and restructuring charges (2) 66,794 (66,794) - 5,784 (5,784) -
Operating income 92,678 64,237 156,915 141,039 10,141 151,180
Interest expense, net (23,109) - (23,109)(29,658) - (29,658)
Other non-operating income, net (3) 6,955 574 7,529 6,854 -6,854
Income before provision for income taxes 76,524 64,811 141,335 118,235 10,141 128,376
Provision for income taxes 26,907 22,813 49,720 41,831 3,590 45,421
Net income $ 49,617 $41,998 $91,615 $76,404 $6,551 $82,955
Earnings per basic share $ 0.74 $0.63 $1.37 $1.15 $0.10 $1.25
Earnings per diluted share $ 0.74 $0.62 $1.36 $1.14 $0.10 $1.24
(1) Valuations of the interest-only strip associated with securitized loans of the Company’s Financial Services
business segment.
(2) Reflects impairment losses on certain assets where projected cash flows were less than the fair value of the
respective assets and restructuring charges for severance and related benefits pursuant to certain reductions in
workforce and voluntary retirement plans. See Note 15 in the 2010 Form 10-K for additional information.
(3) Loss incurred in fiscal 2009 to terminate forward exchange rate contracts for Canadian operations.
CABELA’S INCORPORATED AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES