Adjusted net income is defined as net income excluding specifically identified expenses. Items excluded from the 2012 second quarter and 26-week period consist of: accelerated equity-based compensation and other expenses relating to secondary offerings of the Company’s stock, an adjustment for the settlement of interest rate swaps and a loss on the repurchase of long-term obligations. The 2012 26-week period also excludes the write-off of capitalized debt costs resulting from the amendment of the Company’s revolving credit facility. A net loss on the repurchase of debt was excluded from the 2011 quarter and, additionally, expenses related to certain litigation settlements were excluded from the 2011 26-week period. The income tax effect of adjustments is also excluded from all periods. Adjusted diluted EPS is defined as adjusted net income per diluted share.Reconciliations of all of these non-GAAP measures to the most directly comparable measures calculated in accordance with GAAP are provided in the accompanying schedules. In addition, for reference, the schedules also include calculations of SG&A and operating profit, as adjusted to exclude certain expenses. In addition to historical results, guidance for fiscal 2012 is based on comparable adjustments.
Dollar General Corporation Reports Strong Second Quarter Results
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