Cabela's 2014 Annual Report Download - page 8

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CABELA’S INCORPORATED AND SUBSIDIARIES
RECONCILIATION OF GAAP REPORTED TO NON-GAAP ADJUSTED FINANCIAL MEASURES(1)
(4) For fiscal 2014, reflects a restructuring charge related to the transition to a third-party logistics provider and the
closing of our distribution center in Winnipeg, Manitoba, Canada. For fiscal 2013, reflects an impairment loss
of $4,931 related to a retail store site and $937 of costs related to the closure and relocation of a retail store.
(5) Reflects interest adjustments related to certain unrecognized tax benefits.
(6) Reflects the estimated income tax provision on the non-GAAP adjusted income before provision for income
taxes. In addition, for fiscal 2014, reflects offsetting positions from a net operating loss carry forward and
tax adjustments related to changes in assessments of uncertain tax positions, and for fiscal 2013, reflects tax
adjustments related to changes in assessments of uncertain tax positions.
Reconciliation of GAAP Reported to Non-GAAP Adjusted Financial Measures (1)
Fiscal Year Ended
December 29, 2012 December 31, 2011
GAAP Basis
As Reported
Non-GAAP
Adjustments
Non-GAAP
Amounts
GAAP Basis
As Reported
Non-GAAP
Adjustments
Non-GAAP
Amounts
(Dollars in Thousands Except Earnings Per Share)
Total revenue (2) $3,112,682 $12,500 $3,125,182 $2,811,166 $— $2,811,166
Impairment and restructuring charges (3) $20,324 $(20,324) $ — $12,244 $(12,244) $ —
Operating income $275,699 $32,824 $ 308,523 $231,548 $ 12,244 $ 243,792
Operating income as a percentage
of total revenue 8.9% 1.0% 9.9% 8.2% 0.5% 8.7%
Income before provision for income taxes $261,714 $32,824 $ 294,538 $ 214,467 $12,244 $ 226,711
Provision for income taxes (4) $88,201 $11,062 $ 99,263 $ 71,847 $4,102 $ 75,949
Net income $173,513 $21,762 $ 195,275 $142,620 $8,142 $150,762
Earnings per diluted share $2.42 $0.30 $ 2.72 $2.00 $0.12 $ 2.12
(1) The presentation includes non-GAAP financial measures. These non-GAAP financial measures are not
prepared under any comprehensive set of accounting rules or principles, and do not reflect all of the amounts
associated with the Company’s results of operations as determined in accordance with GAAP.
(2) Reflects an accrual for a reduction in interchange income recognized in the Financial Services segment related
to the Visa antitrust litigation.
(3) Reflects impairment losses primarily on other property and economic development bonds and, for fiscal 2011,
restructuring charges for severance and related benefits.
(4) Reflects the estimated income tax provision on the non-GAAP adjusted income before provision for
income taxes.