Set forth below are the consolidated statements of operations for the first, second, third and fourth quarters of 2014 and 2013.


Year Ended November 30, 2014	First Quarter			Second Quarter			Third Quarter			Fourth Quarter⁽¹⁾
	(Dollars in thousands)
Net revenues	$	1,129,990		$	1,081,847		$	1,154,129		$	1,388,026
Cost of goods sold		553,637			551,542			591,926			708,447

Gross profit		576,353			530,305			562,203			679,579
Selling, general and administrative expenses		424,762			446,072			454,712			580,618
Restructuring, net		57,935			19,105			2,371			49,014

Operating income		93,656			65,128			105,120			49,947
Interest expense		(31,829	)		(31,310	)		(27,179	)		(27,279	)
Loss on early extinguishment of debt		—			(11,151	)		—			(9,192	)
Other income (expense), net		4,183			(6,122	)		(5,605	)		(14,513	)

Income (loss) before income taxes		66,010			16,545			72,336			(1,037	)
Income tax expense		16,387			5,556			22,536			5,066

Net income (loss)		49,623			10,989			49,800			(6,103	)
Net loss attributable to noncontrolling interest		348			469			820			132

Net income (loss) attributable to Levi Strauss & Co.	$	49,971		$	11,458		$	50,620		$	(5,971	)

(1)	Includes certain out-of-period adjustments, which decreased income before income taxes and net income by approximately $4.0 million and $6.0 million, respectively. For additional information see Note 1.


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 income 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