Schedule of quarterly financial information |
Set forth below are the consolidated statements of operations for the first, second, third and fourth quarters of 2013 and 2012. | | | | | | | | | | | | | | | | | Year Ended November 24, 2013 | First Quarter | | Second Quarter | | Third Quarter | | Fourth Quarter | | (Dollars in thousands) | Net revenues | $ | 1,146,678 |
| | $ | 1,098,898 |
| | $ | 1,141,284 |
| | $ | 1,294,831 |
| Cost of goods sold | 554,800 |
| | 550,187 |
| | 568,448 |
| | 657,784 |
| Gross profit | 591,878 |
| | 548,711 |
| | 572,836 |
| | 637,047 |
| Selling, general and administrative expenses | 410,423 |
| | 449,074 |
| | 454,750 |
| | 570,718 |
| Operating income | 181,455 |
| | 99,637 |
| | 118,086 |
| | 66,329 |
| Interest expense | (32,157 | ) | | (32,883 | ) | | (30,903 | ) | | (33,081 | ) | Loss on early extinguishment of debt | (114 | ) | | (575 | ) | | — |
| | — |
| Other income (expense), net | 6,066 |
| | (830 | ) | | (10,661 | ) | | (7,756 | ) | Income before taxes | 155,250 |
| | 65,349 |
| | 76,522 |
| | 25,492 |
| Income tax expense | 48,375 |
| | 17,140 |
| | 20,077 |
| | 8,885 |
| Net income | 106,875 |
| | 48,209 |
| | 56,445 |
| | 16,607 |
| Net loss (income) attributable to noncontrolling interest | 145 |
| | (60 | ) | | 630 |
| | 342 |
| Net income attributable to Levi Strauss & Co. | $ | 107,020 |
| | $ | 48,149 |
| | $ | 57,075 |
| | $ | 16,949 |
|
| | | | | | | | | | | | | | | | | Year Ended November 25, 2012 | First Quarter | | Second Quarter | | Third Quarter | | Fourth Quarter | | (Dollars in thousands) | Net revenues | $ | 1,164,961 |
| | $ | 1,047,157 |
| | $ | 1,100,856 |
| | $ | 1,297,219 |
| Cost of goods sold | 616,167 |
| | 566,471 |
| | 580,108 |
| | 648,116 |
| Gross profit | 548,794 |
| | 480,686 |
| | 520,748 |
| | 649,103 |
| Selling, general and administrative expenses | 438,583 |
| | 435,056 |
| | 433,961 |
| | 557,752 |
| Operating income | 110,211 |
| | 45,630 |
| | 86,787 |
| | 91,351 |
| Interest expense | (38,573 | ) | | (32,411 | ) | | (32,160 | ) | | (31,550 | ) | Loss on early extinguishment of debt | — |
| | (8,206 | ) | | — |
| | — |
| Other income (expense), net | 1,172 |
| | 10,697 |
| | (5,747 | ) | | (1,320 | ) | Income before taxes | 72,810 |
| | 15,710 |
| | 48,880 |
| | 58,481 |
| Income tax expense | 23,513 |
| | 2,467 |
| | 23,802 |
| | 5,140 |
| Net income | 49,297 |
| | 13,243 |
| | 25,078 |
| | 53,341 |
| Net (income) loss attributable to noncontrolling interest | (79 | ) | | (10 | ) | | 3,273 |
| | (293 | ) | Net income attributable to Levi Strauss & Co. | $ | 49,218 |
| | $ | 13,233 |
| | $ | 28,351 |
| | $ | 53,048 |
|
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