Cabela's 2013 Annual Report Download - page 38

28
ITEM 6. SELECTED FINANCIAL DATA
Fiscal Year (1)
2013 2012 2011 2010 2009
Operations Data: (In Thousands Except Earnings per Share)
Revenue:
Merchandise sales $ 3,205,632 $ 2,778,903 $ 2,505,733 $ 2,412,486 $ 2,447,635
Financial Services revenue 375,810 319,399 291,746 227,675 171,414
Other revenue 18,135 14,380 13,687 23,081 13,191
Total revenue 3,599,577 3,112,682 2,811,166 2,663,242 2,632,240
Total cost of revenue 2,030,829 1,769,798 1,613,249 1,575,449 1,602,621
Selling, distribution, and
administrative expenses 1,201,519 1,046,861 954,125 895,405 870,147
Impairment and restructuring charges 5,868 20,324 12,244 5,626 66,794
Operating income 361,361 275,699 231,548 186,762 92,678
Interest expense, net (21,854) (20,123) (24,427) (27,442) (23,109)
Other non-operating income, net 4,021 6,138 7,346 7,360 6,955
Income before provision for income taxes 343,528 261,714 214,467 166,680 76,524
Provision for income taxes 119,138 88,201 71,847 54,521 26,907
Net income $ 224,390 $ 173,513 $ 142,620 $ 112,159 $ 49,617
Earnings per basic share $ 3.18 $ 2.48 $ 2.06 $ 1.65 $ 0.74
Earnings per diluted share $ 3.13 $ 2.42 $ 2.00 $ 1.62 $ 0.74
Selected Balance Sheet Data:
Cash and cash equivalents (2) $ 199,072 $ 288,750 $ 304,679 $ 136,419 $ 582,185
Working capital (2) (3) 3,873,732 3,159,678 2,491,591 1,747,124 619,354
Total assets (3) 6,396,864 5,748,163 5,133,771 4,531,179 2,491,885
Total debt excluding
Financial Services segment 331,065 336,535 344,922 345,152 348,279
Total debt of Financial
Services segment (3) (4) 3,571,612 3,200,518 2,844,813 2,496,651 476,664
Total stockholders’ equity 1,606,334 1,375,979 1,181,316 1,024,548 984,421
Other Data:
Depreciation and amortization $ 93,407 $ 79,269 $ 71,343 $ 69,872 $ 70,566
Property and equipment additions $ 347,956 $ 230,009 $ 120,739 $ 79,720 $ 49,817
Retail square footage 5,890 5,142 4,682 4,409 4,333
(1) Fiscal years are based on the 52-53 week period ending on the Saturday closest to December 31. Fiscal 2013, 2012,
2011, and 2010 each consisted of 52 weeks and fiscal 2009 consisted of 53 weeks. The fiscal year end of WFB is
December 31st.
(2) Includes amounts for the Financial Services segment totaling $94 million, $91 million, $117 million,
$82 million, and $371 million at years ended 2013, 2012, 2011, 2010, and 2009, respectively. Regulatory
restrictions limit 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.
(3) Amounts for all years except 2009 include the assets and liabilities of the Cabela’s Master Credit Card Trust
and related entities (collectively referred to as the “Trust”). Pursuant to a change in accounting principle,
effective January 3, 2010, the assets and liabilities of the Trust were consolidated into our consolidated
financial statements resulting in an increase in total assets and liabilities of $2.15 billion and $2.25 billion,
respectively, and a decrease of $93 million, after tax, in retained earnings and other comprehensive income.
(4) Amounts for all years include time deposits and short-term borrowings of the Financial Services segment.
In addition, amounts for all years except 2009 include the secured variable funding obligations and secured
long-term obligations of the Trust.