Find Debt to Equity ratio, Retun on Equity ratio, and investing Coverage for both companies.
Buckle American Eagle Debt to Equity Ratio Accounts Payable Notes Payable Income Taxes Payable Bonds Payable Total Debt Common Stock, Par $20 Paid in Capital Retained Earning Total Equity Total Equity Debt to Equity Ratio Buckle American Eagle Return on Equity Net Income Average Equity Return on Equity Buckle American Eagle Investing Coverage Net Income Interest Expense Total Interest Expense Investing Coverage https://web.afts.co... water payment EDD https://sdio.edd.ca... es A4 APPENDIX A American Eagle Outfitters, Inc., 2014 Annual Report AMERICAN EAGLE OUTFITTERS, INC. CONSOLIDATED BALANCE SHEETS January 31, 2015 February 1, 2014 $ 410,697 278,972 67,894 73,848 59.102 890,513 694,856 47,206 13,096 14.035 37,202 $1.696,908 $ 418,933 10,002 291.541 73,882 88.155 45.478 927,991 632,986 49,271 13,530 24,835 45,551 $1,694,164 (hthousands, except per share amounts) Assets Current assets: Cash and cash equivalents Short-term investments Merchandise inventory Accounts receivable Prepaid expenses and other Deferred income taxes Total current assets Property and equipment, at cost, net of accumulated depreciation Intangible assets, at cost, net of accumulated amortization Goodwill Non-current deferred income taxes Other assets Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued compensation and payroll taxes Accrued rent Accrued income and other taxes Unredeemed gift cards and gift certificates Current portion of deferred lease credits Other liabilities and accrued expenses Total current liabilities Non-current liabilities: Deferred lease credits Non-current accrued income taxes Other non-current liabilities Total non-current liabilities Commitments and contingencies Stockholders' equity: Preferred stock. 50.01 par value: 5,000 shares authorized: none issued and outstanding Common stock, 50.01 par value; 600,000 shares authorized; 249,566 shares issued; 194,516 and 193,149 shares outstanding, respectively Contributed capital Accumulated other comprehensive income Retained earnings Treasury stock, 55.050 and 56,417 shares, respectively, at cost Total stockholders' equity Total liabilities and stockholders' equity $ 191,146 44,884 78,567 33.110 47.888 12.969 50,529 459,093 S 203.872 23,560 76,397 5,778 47.194 13.293 45,384 415,478 54,516 10,456 33.097 98,069 59.510 16,543 36,455 112,508 2.496 569.675 (9.944) 1,543,085 (965 566) 1.139.746 $1,696,908 2,496 573,008 12,157 1,569,851 (991,334) 1.166,178 $1,694,164 APPENDIX A American Eagle Outfitters, Inc., 2014 Annual Report A-5 AMERICAN EAGLE OUTFITTERS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS For the Years Ended February 1, 2014 $3,305,802 2.191,803 1.113,999 796,505 February 2, 2013 $3,475.802 2,085,480 1,390,322 834,601 January 31, 2015 $3,282,867 2.128,193 1.154,674 806,498 17.752 33,468 141.191 155,765 3.737 159,502 70 713 88,787 (8.465) 80.322 (I thousands, except share MON) Total net revenue Cost of sales, including certain buying, occupancy and warehousing expenses Gross profit Selling, general and administrative expenses Restructuring charges Loss on impairment of assets Depreciation and amortization expense Operating income Other income, net Income before income taxes Provision for income taxes Income from continuing operations Loss from discontinued operations, net of tax Net income Basic income per common share: Income from continuing operations Loss from discontinued operations Basic net income per common share Diluted income per common share: Income from continuing operations Loss from discontinued operations Diluted net income per common share Weighted average common shares outstanding - basic Weighted average common shares outstanding - diluted 44,465 131.974 141,055 1022 142,077 59,094 82,983 34,869 126,246 394,606 7.432 402,038 137.940 264,098 (31 990) 232. 108 S82.983 S 0.43 s S 0.46 10.04) $ 0.42 1.35 (0.16) 1.19 S0.43 S S 0.43 S 0.46 (0.04 0.42 194,437 195.135 s s 0.43 192,802 194 475 1.32 (0.16 1.16 196,211 200,665 A-6 APPENDIX A American Eagle Outfitters, Inc., 2014 Annual Report AMERICAN EAGLE OUTFITTERS, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the Year Ended February 1, February 2, January JI, 2015 $ 80,322 2014 $ 82,983 2013 S232,108 (In thousand Net income Other comprehensive (loss) income: Foreign currency translation (loss) gain Other comprehensive (loss) income Comprehensive income (22.101) (22.100) $ 58,221 (17.140) (17.140 $ 65,843 638 638 S232.746 AMERICAN EAGLE OUTFITTERS, INC. CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY Accumulated Other Shares Comprehensive Outstanding Common Contributed Retained Treasury Income Stockholders 10 Stock Capital Farnos Stock (bass) Fairy 193,848 S2,496 S 552.797 S1.771.464 S1938,565) S 28,659 $1.416,851 76,108 76,108 (8.407) (280) 7,443 (173,554) (4.125) 125,515 (11.054) (36,213) 232,108 (173,554) (4,125) 78.248 232,108 638 638 192,604 9,214 (414,301) S2,496 S 627.065 $1,553,058 1,184 IIIIIIIIIIII $(990,729) (I thousands og per here) Balance at January 28, 2012 Stock awards Repurchase of common stock as part of publicly announced programs Repurchase of common stock from employees Reissuance of treasury stock Net income Other comprehensive income Cash dividends and dividend equivalents (S2.05 per share) Balance at February 2, 2013 Stock awards Repurchase of common stock as part of publicly announced programs Repurchase of common stock from employees Reissuance of treasury stock Net income Other comprehensive income Cash dividends and dividend equivalents (50.375 per share) Balance at February 1, 2014 Stock awards Repurchase of common stock from employees Reissuance of treasury stock Net income Other comprehensive income Cash dividends and dividend equivalents (50.50 per share) Balance at January 31, 2015 (405,087) 29,297 S1.221.187 1,184 (1.600) (1.059) 3,204 (33,051) (23,385) 55,831 (56,706) 6,090 82.983 (33.051) (23,385) 5,215 82,983 (17.140) (17.140) S(991,334) 12.157 1,465 (72.280) 193,149 S2,496 S 573,008 S1,569,851 12,372 (517) 1,884 (17,988) (7,503) 80,322 (7.464) 33,232 (70,815) SI,166,178 12,372 (7,464) 7,741 80,322 (22,101) (22.101) 2.283 (99,585) 194,516 $2,496 S 569,675 $1,543,085 S1965,566) S (97,302) (9,944) $1,139,746 A-8 APPENDIX A American Eagle Outfitters, Inc., 2014 Annual Report AMERICAN EAGLE OUTFITTERS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS For the Years Ended February 1, January JI. Februar 2015 2014 2011 $ $ 2,983 80322 8.463 86,787 $ 232 31 $ $ 2,93 142,151 16,070 (2,279) (495) 33,468 134,047 (6.541) 20,100 1.378 44,465 12% 66 (30 34 40,145 35 16 8,586 3,084 14.383 6,612 5.280) (10,844) (36,089) co 1 11. (4,528) 20,716 24.226 (9,012) 249.619 338.426 (42.465) (23.840) 27.605 146,873 229.256 235 499 In the sands) Operating activities Net income Loss from discontinued operations, net of tax Income from continuing operations Adjustments to reconcile net income to net cash provided by operating netivities Depreciation and amortization Share-based compensation Deferred income taxes Foreign currency transaction loss (gain) Loss on impairment of assets Changes in assets and liabilities: Merchandise inventory Accounts receivable Prepaid expenses and other Other assets Accounts payable Unredeemed gift cards and gift certificates Deferred lease credits Accrued compensation and payroll taxes Accrued income and other taxes Accrued liabilities Total adjustments Net cash provided by operating activities from continuing operations Investing activities: Capital expenditures for property and equipment Purchase or long-lived assets in a business combination Acquisition of intangible assets Purchase of available-for-sale securities Sale of available-for-sale securities Net cash (used for) provided by investing activities from continuing operations Financing activities Payments on capital leases and other Repurchase of common stock as part of publicly announced programs Repurchase of common stock from employees Not proceeds from stock options exercised Excess tax benefit from sharo-based payments Cash used to the settle equity awards Cash dividends paid Net cash used for financing activities from continuing operations Effect of exchange rates on cash Cash flows of discontinued operations Net cash provided by used for operating activities Net cash used for investing activities Net cash used for financing activities Effect of exchange rates on cash Net cash provided by used for discontinued operations Net decrease in each and cash equivalent Cash and cash equivalents - beginning of period Cash and cash equivalents - end of period 245,0021 193 (1.264) (278.499) (20,751) (6.035) ($2.065) 162,785 (195.365 10,002 (246.264) 1 (111, 15 190 (7.143) 3. 0173 (7.464) (2.819) (30.051) (23.386) 6,197 R.RU 7.305 742 13, (97,224 (101 784) 7757) (1220) (130 (150) (403 (494 963 2 TII (237) IR 913 (90,186) 509,119 48.91 (210 719 water payment TOURNE CONSOLIDATED BALANCE SHEETS (Amounts in Thousands Except Share and Per Share Amounts) January 31, 2015 February 1, 2014 ASSETS 5 s CURRENT ASSETS: Cash and cash equivalents Short-term investments (Notes A, B, and C) Receivables Inventory Prepaid expenses and other assets (Note F) Total current assets 133,708 25,857 8,567 129,921 26,536 324.589 164.868 20,197 4,318 124,141 28,613 342,137 PROPERTY AND EQUIPMENT (Note D) Less accumulated depreciation and amortization 427,915 (255.252) 172.663 393.656 (235,087) 158,569 LONG-TERM INVESTMENTS (Notes A, B, andC OTHER ASSETS (Note G) 43,698 2,043 43,436 2,151 542.993 $ 546,293 LIABILITIES AND STOCKHOLDERS' EQUITY $ CURRENT LIABILITIES: Accounts payable Accrued employee compensation Accrued store operating expenses Gift certificates redeemable Income taxes payable Total current liabilities 35,714 36,920 9,984 23,992 15,661 122,271 37,147 36,933 9.983 23,131 16.187 123,381 DEFERRED COMPENSATION (Note 1) DEFERRED RENT LIABILITY OTHER LIABILITIES (Note F) Total abilities 40.566 10,617 187,715 12,797 37.564 10,621 184163 COMMITMENTS (Notes and H) STOCKHOLDERS' EQUITY (Note J): Common ock, authorized 100,000,000 shares of 5.01 por va 48,379,613 and 48,336.392 shares issued and outstanding Juary 31, 2015 and February 1, 2014, respectively Additional paid.in capital Retained earning Accumulated other comprehensive loss Toulstod holders' equity 484 131,112 483 124,134 238,151 (838) 361,930 335.278 es water payment https://web.afts.co... EDD https://sdio.edd.ca... Monterey One Wat... B-8 APPENDIX B The Buckle, Inc., 2014 Annual Report THE BUCKLE, INC. CONSOLIDATED STATEMENTS OF INCOME (Amounts in Thousands Except Per Share Amounts) January 31, 2015 Fiscal Years Ended February 1, 2014 February 2, 2013 SALES, Net of retums and allowances of S110,793, $108,851 and 5106,612, respectively $ 1,153,142 s 1,128,001 S 1,124,007 COST OF SALES (Including buying, distribution, and occupancy costs) 645,810 628,856 624,692 Gross profit 507,332 499,145 499,315 OPERATING EXPENSES: Selling General and administrative 212.688 37.671 250.359 206,893 35.258 242,151 201.963 39,177 241,140 INCOME FROM OPERATIONS 256,973 256,994 258,175 OTHER INCOME, Nct (Note A) 2.723 3.462 3.524 INCOME BEFORE INCOME TAXES 259,696 260,456 261.699 PROVISION FOR INCOME TAXES (Note F) 97,132 97,872 97,394 NET INCOME 162,564 $ 162384 $ 164,305 EARNINGS PER SHARE (Note K): Basic 3.39 S 341 S 3.47 Diluted 3.38 $ 3.39 $ 3.44 See notes to consolidated financial statements, APPENDIX B The Buckle, Inc., 2014 Annual Report B- THE BUCKLE, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Amounts in Thousands) January 31, 2015 Fiscal Years Ended February 1. 2014 February 2, 2013 NET INCOME 162,564 S 162,584 $ 164,305 OTHER COMPREHENSIVE INCOME, NET OF TAX: Change in unrealized loss on investments, net of tax of 240,556, and S(138), respectively Other comprehensive income 409 409 96 96 (235) (235) 162.973 S 162.680 5 164,070 COMPREHENSIVE INCOME See notes to consolidated financial statements. THE BUCKLE, INC. CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Amounts in Thousands Except Share and Per Share Amounts) Accumulated Other Comprehensive Loss Number of Shares Additional Pallin Capital Common Stock Retained Earnings Total 47.432,089 474 100.333 263,039 . BALANCE, January 28, 2012 363,147 11 1644103 (254,633) 164,105 (254,633) 846 842 (3) Nel income Dividends paid on common stock, (55.30 per share) Common stock inued on exercise of stock options 377.520 Isance of non-vested stock, net of forfeitures NA 249,660 Amortization of non-vested stock grants, net of forfeitures Income tax benefit related to exercise of stock options 2012 Change in gerealised low on investments, net of tax 388 7.31 EL 8J 7.831 (235) (235) BALANCE, February 2, 2013 48059,260 $ 4815 117.391 172,711 (934) $ 289.649 162,584 (97.144) 162,584 (97.144) Net Income Dividends paid on common Mock, ($2.02 per share) Common stock med os exercise of dock options Ince of non-vested wock, offres Amortization of non-vested socks of forfeitures Income tax benefit related to exercise of sock options Change in unrealized low inverennis, net of tax 25.555 251.568 (2) 5,066 1.679 5,066 1.679 96 96 BALANCI, February 1, 2014 48.336.392 5 LIL-TI! PILI!! 5 124,134 s 238,151 (838) 5 361,930 TIR 162,564 (176,604) 162.564 (176,604) 70 70 17.091 26,130 Net income Dividends paid on common Mock. (53.66 per share) Common stock oed on exercise of stock options Isince of nonverted ock, net of forfeitures Amortization of non-vested socks, net of forfeitures Income tax benefit related to exercise of stock options Change in unrealised loss on investments, net of tax 6,013 6,013 896 196 409 409 BALANCE, January 31, 2015 48.379,613 5 131,112 224,11 5 355.278 Odf A ComprehensiveAn.pdf A CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts in Thousands January 31, 2015 Fiscal Years Ended February 1, 2014 February 2, 2013 S 162,564 S 162,584 s 164,305 31,679 6,013 (1.675) 1.163 32,631 5,066 2,086) 988 33,834 8,388 (1.939) 1.328 (2.134) (5,780) 3.508 (2.915) (13) CASH FLOWS FROM OPERATING ACTIVITIES: Net income Adjustments to reconcile net income to net cash flows from operating activities Depreciation and amortization Amortization of non-vested stock grants, net of forfeitures Deferred income taxes Other Changes in operating assets and liabilities: Receivables Inventory Prepaid expenses and other assets Accounts payable Accrued employee compensation Accrued store openting expenses Gift certificates redeemable Income taxes payable Deferred rent liabilities and deferred compensation Net cash flows from operating activities CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment Proceeds from sale of property and equipment Other Purchases of investments Proceeds from sales/maturities of investments Net cash flows from investing activities CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from the exercise of stock options Excess tax benefit from stock option exercises Payment of dividends (989) (20.288) (2.255) 2,738 (5.250) (138) 910 (2,699) 2.814 596 356 (10.281) 6.534 (671) (1,004) 1,935 14.897 2.463 1 861 (1.970) 4,466 195,768 174,026 220,941 (45.454) (30,297) 1.140 108 (28.811) 11 112 (32314) 30,981 130 (43.404) 38.131 (29.933) 37.294 (50,619) (30,021) 021666) 70 225 (176,604) 399 (97,144) 846 5.609 (254,633) (176,309) (96,745) (248,178) Net cash flows from financing activities NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (31,160) 47.250 (48,903) CASH AND CASH EQUIVALENTS, Beginning of year 164.868 117,608 166,511 CASH AND CASH EQUIVALENTS, End of year 133,708 164,868 5 117.608 ages water payment Copyright 2016 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. B-13 APPENDIX B The Buckle, Inc. 2014 Annual Report D. PROPERTY AND EQUIPMENT January 31. 2015 February 1, 2014 S Land 2,165 2,165 Building and improvements 28.033 28,006 Office equipment 10,080 9.357 Transportation equipment 20,790 20.782 Leasehold improvements 154,441 146,655 Fumiture and fixtures 167.575 157.771 Shipping/receiving equipment 27.172 26,392 Screenprinting equipment 111 Construction in progress 17.548 2,417 Total 427,915 $ 393.656 E. FINANCING ARRANGEMENTS The Company has available an unsecured line of credit of $25,000 with Wells Fargo Bank, N.A. for operating needs and letters of credit. The line of credit provides that outstanding letters of credit cannot exceed $20,000. Bomowings under the line of credit provide for interest to be paid at a rate based on LIBOR. The Company has, from time to time, borrowed against these lines during periods of peak inventory build-up. There were no bank borrowings as of January 31, 2015 and February 1, 2014. There were no bank borrowings during fiscal 2014, 2013, and 2012. The Company had outstanding letters of credit totaling 52,026 and 53,226 as of January 31, 2015 and February 1, 2014, respectively. The line oferedit agreement was amended effective February 16, 2015, subsequent to the end of the fiscal year. The amended agreement extended the expiration date of the note from July 31, 2015 to July 31, 2017 and reduced the amount available for letters of credit from $20,000 to $10,000 H. COMMITMENTS B-14 APPENDIX B The Buckle, Inc., 2014 Annual Report K. EARNINGS PER SHARE The following table provides reconciliation between basic and diluted eamings per share: January 31, 2015 Weighted Average Shares Fiscal Years Ended February 1, 2014 Weighted Average Per Share Income Shares Amount February 2, 2013 Weighted Average Shares Per Share Amount Per Share Amount Income Income 47,927 $ 162,564 $ $ 162,584 47.744 5 47,33 3.41 $ 164,305 $ 3.47 Basic EPS Effect of Dilutive Securities: Stock options and non- vested shares Diluted EPS 163 48.000 (0.01) $ 3.38 232 47.976 (0.02) 3.39 327 47,710 (0.03) 3.44 $ 162,564 $ 162,584 $ $164.305 $ No stock options were deemed anti-dilutive and excluded from the computation of diluted camings per share for fiscal 2014, 2013 or 2012 L. SEGMENT INFORMATION The Company is a retailer of medium to better priced casual apparel, footwear, and accessories. The Company operates its business as one reportable segment The Company operated 460 stores located in 44 states throughout the United States as of January 31, 2015 The following is information regarding the Company's major product lines, stated as a percentage of the Company's net sales January 31, 2015 Fiscal Years Ended February 1, 2014 February 2, 2013 Merchandise Group 45,395 30.2 8,5 6,0 46.4% 30.9 84 Denim Tops (including sweaters) Accessories Sportswear Fashions Footwear Outerwear Casual bottoms Other Total 43.7% 30.8 8.6 6.2 5.9 2.3 12 1.3 100.0% 5.3 2.2 0.8 2.3 0.9 1.0 100.0% 03 100.0% Buckle American Eagle Debt to Equity Ratio Accounts Payable Notes Payable Income Taxes Payable Bonds Payable Total Debt Common Stock, Par $20 Paid in Capital Retained Earning Total Equity Total Equity Debt to Equity Ratio Buckle American Eagle Return on Equity Net Income Average Equity Return on Equity Buckle American Eagle Investing Coverage Net Income Interest Expense Total Interest Expense Investing Coverage https://web.afts.co... water payment EDD https://sdio.edd.ca... es A4 APPENDIX A American Eagle Outfitters, Inc., 2014 Annual Report AMERICAN EAGLE OUTFITTERS, INC. CONSOLIDATED BALANCE SHEETS January 31, 2015 February 1, 2014 $ 410,697 278,972 67,894 73,848 59.102 890,513 694,856 47,206 13,096 14.035 37,202 $1.696,908 $ 418,933 10,002 291.541 73,882 88.155 45.478 927,991 632,986 49,271 13,530 24,835 45,551 $1,694,164 (hthousands, except per share amounts) Assets Current assets: Cash and cash equivalents Short-term investments Merchandise inventory Accounts receivable Prepaid expenses and other Deferred income taxes Total current assets Property and equipment, at cost, net of accumulated depreciation Intangible assets, at cost, net of accumulated amortization Goodwill Non-current deferred income taxes Other assets Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued compensation and payroll taxes Accrued rent Accrued income and other taxes Unredeemed gift cards and gift certificates Current portion of deferred lease credits Other liabilities and accrued expenses Total current liabilities Non-current liabilities: Deferred lease credits Non-current accrued income taxes Other non-current liabilities Total non-current liabilities Commitments and contingencies Stockholders' equity: Preferred stock. 50.01 par value: 5,000 shares authorized: none issued and outstanding Common stock, 50.01 par value; 600,000 shares authorized; 249,566 shares issued; 194,516 and 193,149 shares outstanding, respectively Contributed capital Accumulated other comprehensive income Retained earnings Treasury stock, 55.050 and 56,417 shares, respectively, at cost Total stockholders' equity Total liabilities and stockholders' equity $ 191,146 44,884 78,567 33.110 47.888 12.969 50,529 459,093 S 203.872 23,560 76,397 5,778 47.194 13.293 45,384 415,478 54,516 10,456 33.097 98,069 59.510 16,543 36,455 112,508 2.496 569.675 (9.944) 1,543,085 (965 566) 1.139.746 $1,696,908 2,496 573,008 12,157 1,569,851 (991,334) 1.166,178 $1,694,164 APPENDIX A American Eagle Outfitters, Inc., 2014 Annual Report A-5 AMERICAN EAGLE OUTFITTERS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS For the Years Ended February 1, 2014 $3,305,802 2.191,803 1.113,999 796,505 February 2, 2013 $3,475.802 2,085,480 1,390,322 834,601 January 31, 2015 $3,282,867 2.128,193 1.154,674 806,498 17.752 33,468 141.191 155,765 3.737 159,502 70 713 88,787 (8.465) 80.322 (I thousands, except share MON) Total net revenue Cost of sales, including certain buying, occupancy and warehousing expenses Gross profit Selling, general and administrative expenses Restructuring charges Loss on impairment of assets Depreciation and amortization expense Operating income Other income, net Income before income taxes Provision for income taxes Income from continuing operations Loss from discontinued operations, net of tax Net income Basic income per common share: Income from continuing operations Loss from discontinued operations Basic net income per common share Diluted income per common share: Income from continuing operations Loss from discontinued operations Diluted net income per common share Weighted average common shares outstanding - basic Weighted average common shares outstanding - diluted 44,465 131.974 141,055 1022 142,077 59,094 82,983 34,869 126,246 394,606 7.432 402,038 137.940 264,098 (31 990) 232. 108 S82.983 S 0.43 s S 0.46 10.04) $ 0.42 1.35 (0.16) 1.19 S0.43 S S 0.43 S 0.46 (0.04 0.42 194,437 195.135 s s 0.43 192,802 194 475 1.32 (0.16 1.16 196,211 200,665 A-6 APPENDIX A American Eagle Outfitters, Inc., 2014 Annual Report AMERICAN EAGLE OUTFITTERS, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the Year Ended February 1, February 2, January JI, 2015 $ 80,322 2014 $ 82,983 2013 S232,108 (In thousand Net income Other comprehensive (loss) income: Foreign currency translation (loss) gain Other comprehensive (loss) income Comprehensive income (22.101) (22.100) $ 58,221 (17.140) (17.140 $ 65,843 638 638 S232.746 AMERICAN EAGLE OUTFITTERS, INC. CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY Accumulated Other Shares Comprehensive Outstanding Common Contributed Retained Treasury Income Stockholders 10 Stock Capital Farnos Stock (bass) Fairy 193,848 S2,496 S 552.797 S1.771.464 S1938,565) S 28,659 $1.416,851 76,108 76,108 (8.407) (280) 7,443 (173,554) (4.125) 125,515 (11.054) (36,213) 232,108 (173,554) (4,125) 78.248 232,108 638 638 192,604 9,214 (414,301) S2,496 S 627.065 $1,553,058 1,184 IIIIIIIIIIII $(990,729) (I thousands og per here) Balance at January 28, 2012 Stock awards Repurchase of common stock as part of publicly announced programs Repurchase of common stock from employees Reissuance of treasury stock Net income Other comprehensive income Cash dividends and dividend equivalents (S2.05 per share) Balance at February 2, 2013 Stock awards Repurchase of common stock as part of publicly announced programs Repurchase of common stock from employees Reissuance of treasury stock Net income Other comprehensive income Cash dividends and dividend equivalents (50.375 per share) Balance at February 1, 2014 Stock awards Repurchase of common stock from employees Reissuance of treasury stock Net income Other comprehensive income Cash dividends and dividend equivalents (50.50 per share) Balance at January 31, 2015 (405,087) 29,297 S1.221.187 1,184 (1.600) (1.059) 3,204 (33,051) (23,385) 55,831 (56,706) 6,090 82.983 (33.051) (23,385) 5,215 82,983 (17.140) (17.140) S(991,334) 12.157 1,465 (72.280) 193,149 S2,496 S 573,008 S1,569,851 12,372 (517) 1,884 (17,988) (7,503) 80,322 (7.464) 33,232 (70,815) SI,166,178 12,372 (7,464) 7,741 80,322 (22,101) (22.101) 2.283 (99,585) 194,516 $2,496 S 569,675 $1,543,085 S1965,566) S (97,302) (9,944) $1,139,746 A-8 APPENDIX A American Eagle Outfitters, Inc., 2014 Annual Report AMERICAN EAGLE OUTFITTERS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS For the Years Ended February 1, January JI. Februar 2015 2014 2011 $ $ 2,983 80322 8.463 86,787 $ 232 31 $ $ 2,93 142,151 16,070 (2,279) (495) 33,468 134,047 (6.541) 20,100 1.378 44,465 12% 66 (30 34 40,145 35 16 8,586 3,084 14.383 6,612 5.280) (10,844) (36,089) co 1 11. (4,528) 20,716 24.226 (9,012) 249.619 338.426 (42.465) (23.840) 27.605 146,873 229.256 235 499 In the sands) Operating activities Net income Loss from discontinued operations, net of tax Income from continuing operations Adjustments to reconcile net income to net cash provided by operating netivities Depreciation and amortization Share-based compensation Deferred income taxes Foreign currency transaction loss (gain) Loss on impairment of assets Changes in assets and liabilities: Merchandise inventory Accounts receivable Prepaid expenses and other Other assets Accounts payable Unredeemed gift cards and gift certificates Deferred lease credits Accrued compensation and payroll taxes Accrued income and other taxes Accrued liabilities Total adjustments Net cash provided by operating activities from continuing operations Investing activities: Capital expenditures for property and equipment Purchase or long-lived assets in a business combination Acquisition of intangible assets Purchase of available-for-sale securities Sale of available-for-sale securities Net cash (used for) provided by investing activities from continuing operations Financing activities Payments on capital leases and other Repurchase of common stock as part of publicly announced programs Repurchase of common stock from employees Not proceeds from stock options exercised Excess tax benefit from sharo-based payments Cash used to the settle equity awards Cash dividends paid Net cash used for financing activities from continuing operations Effect of exchange rates on cash Cash flows of discontinued operations Net cash provided by used for operating activities Net cash used for investing activities Net cash used for financing activities Effect of exchange rates on cash Net cash provided by used for discontinued operations Net decrease in each and cash equivalent Cash and cash equivalents - beginning of period Cash and cash equivalents - end of period 245,0021 193 (1.264) (278.499) (20,751) (6.035) ($2.065) 162,785 (195.365 10,002 (246.264) 1 (111, 15 190 (7.143) 3. 0173 (7.464) (2.819) (30.051) (23.386) 6,197 R.RU 7.305 742 13, (97,224 (101 784) 7757) (1220) (130 (150) (403 (494 963 2 TII (237) IR 913 (90,186) 509,119 48.91 (210 719 water payment TOURNE CONSOLIDATED BALANCE SHEETS (Amounts in Thousands Except Share and Per Share Amounts) January 31, 2015 February 1, 2014 ASSETS 5 s CURRENT ASSETS: Cash and cash equivalents Short-term investments (Notes A, B, and C) Receivables Inventory Prepaid expenses and other assets (Note F) Total current assets 133,708 25,857 8,567 129,921 26,536 324.589 164.868 20,197 4,318 124,141 28,613 342,137 PROPERTY AND EQUIPMENT (Note D) Less accumulated depreciation and amortization 427,915 (255.252) 172.663 393.656 (235,087) 158,569 LONG-TERM INVESTMENTS (Notes A, B, andC OTHER ASSETS (Note G) 43,698 2,043 43,436 2,151 542.993 $ 546,293 LIABILITIES AND STOCKHOLDERS' EQUITY $ CURRENT LIABILITIES: Accounts payable Accrued employee compensation Accrued store operating expenses Gift certificates redeemable Income taxes payable Total current liabilities 35,714 36,920 9,984 23,992 15,661 122,271 37,147 36,933 9.983 23,131 16.187 123,381 DEFERRED COMPENSATION (Note 1) DEFERRED RENT LIABILITY OTHER LIABILITIES (Note F) Total abilities 40.566 10,617 187,715 12,797 37.564 10,621 184163 COMMITMENTS (Notes and H) STOCKHOLDERS' EQUITY (Note J): Common ock, authorized 100,000,000 shares of 5.01 por va 48,379,613 and 48,336.392 shares issued and outstanding Juary 31, 2015 and February 1, 2014, respectively Additional paid.in capital Retained earning Accumulated other comprehensive loss Toulstod holders' equity 484 131,112 483 124,134 238,151 (838) 361,930 335.278 es water payment https://web.afts.co... EDD https://sdio.edd.ca... Monterey One Wat... B-8 APPENDIX B The Buckle, Inc., 2014 Annual Report THE BUCKLE, INC. CONSOLIDATED STATEMENTS OF INCOME (Amounts in Thousands Except Per Share Amounts) January 31, 2015 Fiscal Years Ended February 1, 2014 February 2, 2013 SALES, Net of retums and allowances of S110,793, $108,851 and 5106,612, respectively $ 1,153,142 s 1,128,001 S 1,124,007 COST OF SALES (Including buying, distribution, and occupancy costs) 645,810 628,856 624,692 Gross profit 507,332 499,145 499,315 OPERATING EXPENSES: Selling General and administrative 212.688 37.671 250.359 206,893 35.258 242,151 201.963 39,177 241,140 INCOME FROM OPERATIONS 256,973 256,994 258,175 OTHER INCOME, Nct (Note A) 2.723 3.462 3.524 INCOME BEFORE INCOME TAXES 259,696 260,456 261.699 PROVISION FOR INCOME TAXES (Note F) 97,132 97,872 97,394 NET INCOME 162,564 $ 162384 $ 164,305 EARNINGS PER SHARE (Note K): Basic 3.39 S 341 S 3.47 Diluted 3.38 $ 3.39 $ 3.44 See notes to consolidated financial statements, APPENDIX B The Buckle, Inc., 2014 Annual Report B- THE BUCKLE, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Amounts in Thousands) January 31, 2015 Fiscal Years Ended February 1. 2014 February 2, 2013 NET INCOME 162,564 S 162,584 $ 164,305 OTHER COMPREHENSIVE INCOME, NET OF TAX: Change in unrealized loss on investments, net of tax of 240,556, and S(138), respectively Other comprehensive income 409 409 96 96 (235) (235) 162.973 S 162.680 5 164,070 COMPREHENSIVE INCOME See notes to consolidated financial statements. THE BUCKLE, INC. CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Amounts in Thousands Except Share and Per Share Amounts) Accumulated Other Comprehensive Loss Number of Shares Additional Pallin Capital Common Stock Retained Earnings Total 47.432,089 474 100.333 263,039 . BALANCE, January 28, 2012 363,147 11 1644103 (254,633) 164,105 (254,633) 846 842 (3) Nel income Dividends paid on common stock, (55.30 per share) Common stock inued on exercise of stock options 377.520 Isance of non-vested stock, net of forfeitures NA 249,660 Amortization of non-vested stock grants, net of forfeitures Income tax benefit related to exercise of stock options 2012 Change in gerealised low on investments, net of tax 388 7.31 EL 8J 7.831 (235) (235) BALANCE, February 2, 2013 48059,260 $ 4815 117.391 172,711 (934) $ 289.649 162,584 (97.144) 162,584 (97.144) Net Income Dividends paid on common Mock, ($2.02 per share) Common stock med os exercise of dock options Ince of non-vested wock, offres Amortization of non-vested socks of forfeitures Income tax benefit related to exercise of sock options Change in unrealized low inverennis, net of tax 25.555 251.568 (2) 5,066 1.679 5,066 1.679 96 96 BALANCI, February 1, 2014 48.336.392 5 LIL-TI! PILI!! 5 124,134 s 238,151 (838) 5 361,930 TIR 162,564 (176,604) 162.564 (176,604) 70 70 17.091 26,130 Net income Dividends paid on common Mock. (53.66 per share) Common stock oed on exercise of stock options Isince of nonverted ock, net of forfeitures Amortization of non-vested socks, net of forfeitures Income tax benefit related to exercise of stock options Change in unrealised loss on investments, net of tax 6,013 6,013 896 196 409 409 BALANCE, January 31, 2015 48.379,613 5 131,112 224,11 5 355.278 Odf A ComprehensiveAn.pdf A CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts in Thousands January 31, 2015 Fiscal Years Ended February 1, 2014 February 2, 2013 S 162,564 S 162,584 s 164,305 31,679 6,013 (1.675) 1.163 32,631 5,066 2,086) 988 33,834 8,388 (1.939) 1.328 (2.134) (5,780) 3.508 (2.915) (13) CASH FLOWS FROM OPERATING ACTIVITIES: Net income Adjustments to reconcile net income to net cash flows from operating activities Depreciation and amortization Amortization of non-vested stock grants, net of forfeitures Deferred income taxes Other Changes in operating assets and liabilities: Receivables Inventory Prepaid expenses and other assets Accounts payable Accrued employee compensation Accrued store openting expenses Gift certificates redeemable Income taxes payable Deferred rent liabilities and deferred compensation Net cash flows from operating activities CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment Proceeds from sale of property and equipment Other Purchases of investments Proceeds from sales/maturities of investments Net cash flows from investing activities CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from the exercise of stock options Excess tax benefit from stock option exercises Payment of dividends (989) (20.288) (2.255) 2,738 (5.250) (138) 910 (2,699) 2.814 596 356 (10.281) 6.534 (671) (1,004) 1,935 14.897 2.463 1 861 (1.970) 4,466 195,768 174,026 220,941 (45.454) (30,297) 1.140 108 (28.811) 11 112 (32314) 30,981 130 (43.404) 38.131 (29.933) 37.294 (50,619) (30,021) 021666) 70 225 (176,604) 399 (97,144) 846 5.609 (254,633) (176,309) (96,745) (248,178) Net cash flows from financing activities NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (31,160) 47.250 (48,903) CASH AND CASH EQUIVALENTS, Beginning of year 164.868 117,608 166,511 CASH AND CASH EQUIVALENTS, End of year 133,708 164,868 5 117.608 ages water payment Copyright 2016 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. B-13 APPENDIX B The Buckle, Inc. 2014 Annual Report D. PROPERTY AND EQUIPMENT January 31. 2015 February 1, 2014 S Land 2,165 2,165 Building and improvements 28.033 28,006 Office equipment 10,080 9.357 Transportation equipment 20,790 20.782 Leasehold improvements 154,441 146,655 Fumiture and fixtures 167.575 157.771 Shipping/receiving equipment 27.172 26,392 Screenprinting equipment 111 Construction in progress 17.548 2,417 Total 427,915 $ 393.656 E. FINANCING ARRANGEMENTS The Company has available an unsecured line of credit of $25,000 with Wells Fargo Bank, N.A. for operating needs and letters of credit. The line of credit provides that outstanding letters of credit cannot exceed $20,000. Bomowings under the line of credit provide for interest to be paid at a rate based on LIBOR. The Company has, from time to time, borrowed against these lines during periods of peak inventory build-up. There were no bank borrowings as of January 31, 2015 and February 1, 2014. There were no bank borrowings during fiscal 2014, 2013, and 2012. The Company had outstanding letters of credit totaling 52,026 and 53,226 as of January 31, 2015 and February 1, 2014, respectively. The line oferedit agreement was amended effective February 16, 2015, subsequent to the end of the fiscal year. The amended agreement extended the expiration date of the note from July 31, 2015 to July 31, 2017 and reduced the amount available for letters of credit from $20,000 to $10,000 H. COMMITMENTS B-14 APPENDIX B The Buckle, Inc., 2014 Annual Report K. EARNINGS PER SHARE The following table provides reconciliation between basic and diluted eamings per share: January 31, 2015 Weighted Average Shares Fiscal Years Ended February 1, 2014 Weighted Average Per Share Income Shares Amount February 2, 2013 Weighted Average Shares Per Share Amount Per Share Amount Income Income 47,927 $ 162,564 $ $ 162,584 47.744 5 47,33 3.41 $ 164,305 $ 3.47 Basic EPS Effect of Dilutive Securities: Stock options and non- vested shares Diluted EPS 163 48.000 (0.01) $ 3.38 232 47.976 (0.02) 3.39 327 47,710 (0.03) 3.44 $ 162,564 $ 162,584 $ $164.305 $ No stock options were deemed anti-dilutive and excluded from the computation of diluted camings per share for fiscal 2014, 2013 or 2012 L. SEGMENT INFORMATION The Company is a retailer of medium to better priced casual apparel, footwear, and accessories. The Company operates its business as one reportable segment The Company operated 460 stores located in 44 states throughout the United States as of January 31, 2015 The following is information regarding the Company's major product lines, stated as a percentage of the Company's net sales January 31, 2015 Fiscal Years Ended February 1, 2014 February 2, 2013 Merchandise Group 45,395 30.2 8,5 6,0 46.4% 30.9 84 Denim Tops (including sweaters) Accessories Sportswear Fashions Footwear Outerwear Casual bottoms Other Total 43.7% 30.8 8.6 6.2 5.9 2.3 12 1.3 100.0% 5.3 2.2 0.8 2.3 0.9 1.0 100.0% 03 100.0%
