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Consolidated Statements of Earnings (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Store        
Rentals and fees $ 617,796 $ 586,523 $ 1,228,224 $ 1,170,371
Merchandise sales 50,973 43,031 150,239 132,428
Installment sales 16,571 14,503 33,258 29,640
Other 4,143 19,523 9,482 39,859
Franchise        
Merchandise sales 7,525 6,755 16,671 15,180
Royalty income and fees 1,245 1,208 2,557 2,484
Revenues 698,253 671,543 1,440,431 1,389,962
Store expenses        
Cost of rentals and fees 139,295 129,818 274,944 259,932
Cost of merchandise sold 39,510 32,603 108,089 94,414
Cost of installment sales 5,898 5,003 11,946 10,429
Salaries and other expenses 395,091 381,121 792,289 772,592
Franchise expenses        
Franchise cost of merchandise sold 7,195 6,454 15,949 14,522
Direct operating expenses 586,989 554,999 1,203,217 1,151,889
General and administrative expenses 32,047 32,173 66,600 63,948
Amortization and write-down of intangibles 1,132 1,540 1,990 2,591
Litigation settlement 0 0 2,800 0
Impairment charge 0 0 7,320 0
Restructuring charge 4,933 0 4,933 0
Total operating expenses 625,101 588,712 1,286,860 1,218,428
Operating profit 73,152 82,831 153,571 171,534
Interest expense 9,613 6,051 19,373 12,134
Interest income (237) (156) (391) (324)
Earnings before income taxes 63,776 76,936 134,589 159,724
Income tax expense 23,888 29,106 50,471 60,433
NET EARNINGS $ 39,888 $ 47,830 $ 84,118 $ 99,291
Basic earnings per common share $ 0.64 $ 0.73 $ 1.34 $ 1.51
Diluted earnings per common share $ 0.63 $ 0.72 $ 1.32 $ 1.49
Cash dividends per common share $ 0.06 $ 0 $ 0.12 $ 0