QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Nov. 25, 2012

QUARTERLY FINANCIAL DATA (UNAUDITED)

NOTE 20:    QUARTERLY FINANCIAL DATA (UNAUDITED)

Set forth below are the consolidated statements of operations for the first, second, third and fourth quarters of 2012 and 2011.

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

Year Ended November 27, 2011	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
	(Dollars in thousands)
Net revenues	$	1,120,693		$	1,092,922		$	1,204,017		$	1,343,934
Cost of goods sold		562,726			552,226			634,573			719,802
Gross profit		557,967			540,696			569,444			624,132
Selling, general and administrative expenses		459,093			475,720			488,545			532,488
Operating income		98,874			64,976			80,899			91,644
Interest expense		(34,866	)		(33,515	)		(30,208	)		(33,454	)
Loss on early extinguishment of debt		—			—			—			(248	)
Other income (expense), net		(5,959	)		(1,006	)		(5,779	)		11,469
Income before taxes		58,049			30,455			44,912			69,411
Income tax expense		18,881			9,944			13,612			25,278
Net income		39,168			20,511			31,300			44,133
Net loss (income) attributable to noncontrolling interest		1,507			460			893			(19	)
Net income attributable to Levi Strauss & Co.	$	40,675		$	20,971		$	32,193		$	44,114