1.Add ratio analysis to your Excel spreadsheet for each of the pages: •The Consolidated Balance Sheets.•The Consolidated Statements of Income.•The...

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Home>Business & Finance homework help>Accounting homework help>1.Add ratio analysis to your Excel spreadsheet for each of the pages: •The Consolidated Balance Sheets.•The Consolidated Statements of Income.•The...

Appendix C, C-3

URBAN OUTFITTERS, INC.
Consolidated Balance Sheets
(in thousands, except share and per share data) Percentage 2 Year Average
January,31, (Inc/Dec) Common Size Percentage Turnover Forcast
2009 2008 2009 2009 2008 2010 2011 2012
ASSETS
Current assets:
Cash and cash equivalents $316,035 $105,271 -200.2% 23.73% 9.21% $567,133 $878,303 $1,256,878
Marketable securities 49,948 80,127 37.7% 3.75% 7.01% 49,948 49,948 49,948
Accounts receivable, net allowance for doubtful accounts of $1,229
and $9666, respectively 36,390 26,365 -38.0% 2.73% 2.31% 6.20% $38,646 $0 $41,042 $0 $43,587
Inventories 169,698 171,925 1.3% 12.74% 15.04% 6.60% $180,898 $192,837 $205,565
Prepaid expenses and other current assets 46,412 46,238 -0.4% 3.48% 4.05% 46,412 46,412 46,412
Deferred taxes 5,919 3,684 -60.7% 0.44% 0.32% 5,919 5,919 5,919
Total current assets 624,402 433,610 -44.0% 46.88% 37.94% $888,956 $1,214,461 $1,608,308
Property and equipment, net 505,407 488,889 -3.4% 37.94% 42.78% 505,407 505,407 505,407
Marketable securities 155,226 188,252 17.5% 11.65% 16.47% 155,226 155,226 155,226
Deferred income taxes and other assets 46,974 32,040 -46.6% 3.53% 2.80% 46,974 46,974 46,974
Total Assets $1,332,009 $1,142,791 -16.6% 100.00% 100.00% $1,596,563 $1,922,068 $2,315,915
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable $62,955 $74,020 14.9% 4.73% 6.48% 16.00% $73,028 $0 $84,712 $0 $98,266
Accrued compensation 11,975 10,128 -18.2% 0.90% 0.89% 11,975 11,975 11,975
Accrued expenses and other current liabilities 66,220 83,230 20.4% 4.97% 7.28% 66,220 66,220 66,220
Total current liabilities 141,150 167,378 15.7% 10.60% 14.65% $151,223 $162,907 $176,461
Deferred rent and other current liabilities 134,084 121,982 -9.9% 10.07% 10.67% 134,084 134,084 134,084
Total Liabilities 275,234 289,360 4.9% 20.66% 25.32% $285,307 $296,991 $310,545
Commitments and contingencies (see Note 11)
Shareholders' equity
Preferred shares; $.0001 par value, 10,000,000 shares authorized, none
issued 0 0 0 0 0
Common shares; $.0001 par value, 200,000,000 shares authorized,
167,712,088 and 166,104,615 issued and outstanding,
respectively 17 17 0.0% 0.00% 0.00% 17 17 17
Additional paid-in capital 170,166 144,204 -18.0% 12.78% 12.62% 170,166 170,166 170,166
Retained earnings 901,339 701,975 -28.4% 67.67% 61.43% $1,152,437.18 $1,463,606.55 $1,842,182.00
Accumulated other comprehensive (loss) income (17,747) 7,235 345.3% -1.33% 0.63% (17,747) (17,747) (17,747)
Total Shareholders' Equity 1,053,775 853,431 -23.5% 79.11% 74.68% 1,304,873 1,616,043 1,994,618
Total Liabilities and Shareholders' Equity $1,329,009 $1,142,791 -16.3% 99.77% 100.00% $1,590,180 $1,913,034 $2,305,163
The accompanying notes are an integral part of these consolidated financial statements
Ratio Analisys
2009 2008 2007
Return on Equity=Net Income/Average Stockholder's Equity 20.9%
Return on Assets=Net Income+Interest Expense (Net of Tax)/Average Total Asset 16.1%
Financial Leverage Percentage=Return on Equity-Return on Assets 4.8
Earning per share=Net Income/Average number of shares of common stock outstanding $1.19
Quality of Income=Cash Flows from Operating Activities/Net Income 1.26 1.59 1.61
Profit Margin Ratio=Net Income/Net Sales Revenue 10.87% 10.63% 9.49%
Asset Turnover=Net Sales Revenue/Average Total Assets 1.48
Cash Ratio=Cash+Cash Equivalents/Current Liabilities 2.24 to 1 0.63 to 1
Current Ratio=Total Current Assets/Total Current liabilities 4.42 to 1 2.59 to 1
Quick Ratio=Quick Assets/Current Liabilities 2.85 to 1 1.27 to 1
AR Turnover Ratio= Net Credit Sales/Average Net Receivables 58.5 Times
Average Age of Receivables=Days in a Year/Ar Turnover Ratio 6.2 Average days to collect
Inventory Turnover Ratio=Cost of Goods sold/Average inventory 6.6 Times
Average Days' Supply in Inventory=Days in a Year/Inventory Turnover Ratio 63.1 Average days supply in Inventory
AP Turnover Ratio=Cost of Goods Sold/Average Accounts Payable 16 Times
Average Age of Payables=Days in a Year/AP Turnover Ratio 22.8 Average days to pay suppliers
Debt-to-equity Ratio=Total Liabilities/Stockholders Equity 0.26 0.34
P/E ratio=Current Market Price per share/Earnings per share 26.14

Appendix C, C-4

URBAN OUTFITTERS, INC.
Consolidated Statements of Income
(in thousands, except share and per share data)
Percentage 2 Year Average
Fiscal Year Ended January 31, (Inc/Dec) Common Size Percentage Rate of Growth Forcast
2009 2008 2007 2009 2008 2009 2008 2007 2010 2011 2012
Net Sales $1,834,618 $1,507,724 $1,224,717 -21.7% -23.1% 100.00% 100.00% 100.00% 22.4% $2,245,474 $0 $2,748,339 $3,363,819
Cost of sales, including buying, distribution
and occupancy costs 1,121,140 930,952 772,796 -20.4% -20.5% 61.11% 61.75% 63.10% 20.4% $1,350,384 $1,626,503 $1,959,081
Gross profit 713,478 576,772 451,921 -23.7% -27.6% 38.89% 38.25% 36.90% $895,090 $0 $1,121,836 $1,404,738
Selling, general and administrative expenses 414,043 351,827 287,932 -17.7% -22.2% 22.57% 23.33% 23.51% 19.9% $496,592 $595,600 $714,346
Income from operations 299,435 224,945 163,989 -33.1% -37.2% 16.32% 14.92% 13.39% $398,497 $0 $526,237 $690,392
Interest income 11,504 9,390 6,531 -22.5% -43.8% 0.63% 0.62% 0.53% $11,504 $11,504 $11,504
Other income 694 575 353 -20.7% -62.9% 0.04% 0.04% 0.03% $694 $694 $694
Other expenses (2,143) (515) (715) -316.1% 28.0% -0.12% -0.03% -0.06% ($2,143) ($2,143) ($2,143)
Income before income taxes 309,490 234,395 170,158 -32.0% -37.8% 16.87% 15.55% 13.89% $408,552 $0 $536,292 $700,447
Income tax expense 110,126 74,164 53,952 -48.5% -37.5% 6.00% 4.92% 4.41% 43.0% $157,454 $225,122 $321,872
Net Income $199,364 $160,231 $116,206 -24.4% -37.9% 10.87% 10.63% 9.49% $251,098 $0 $311,169 $378,575
Net income per common share:
Basic $1.20 $0.97 $0.71 -23.7% -36.6% 0.00% 0.00% 0.00% 1.20 1.20 1.20
Diluted $1.17 $0.94 $0.69 -24.5% -36.2% 0.00% 0.00% 0.00% 1.17 1.17 1.17
Weighted average common shares outstanding:
Basic 166,793,062 165,305,207 164,679,786 -0.9% -0.4% 9091.43% 10963.89% 13446.35% $166,793,062 $166,793,062 $166,793,062
Diluted 170,860,605 169,640,585 168,652,005 -0.7% -0.6% 9313.14% 11251.43% 13770.69% $170,860,605 $170,860,605 $170,860,605
The accompanying notes are an integral part of these consolidated financial statements
2009 2008 2007
Return on Equity=Net Income/Average Stockholder's Equity 20.91%
Return on Assets=Net Income+Interest Expense (Net of Tax)/Average Total Asset 16.11%
Financial Leverage Percentage=Return on Equity-Return on Assets 4.8
Earning per share=Net Income/Average number of shares of common stock outstanding 1.19
Quality of Income=Cash Flows from Operating Activities/Net Income 1.26 1.59 1.61
Profit Margin Ratio=Net Income/Net Sales Revenue 10.87% 10.63% 9.49%
Asset Turnover=Net Sales Revenue/Average Total Assets 1.48
Cash Ratio=Cash+Cash Equivalents/Current Liabilities 2.24 to 1 0.6289416769 to 1
Current Ratio=Total Current Assets/Total Current liabilities 4.42 to 1 2.5906033051 to 1
Quick Ratio=Quick Assets/Current Liabilities 2.85 to 1 1.2651782194 to 1
AR Turnover Ratio= Net Credit Sales/Average Net Receivables 58.5 Times
Average Age of Receivables=Days in a Year/Ar Turnover Ratio 6.2 Average days to collect
Inventory Turnover Ratio=Cost of Goods sold/Average inventory 6.6 Times
Average Days' Supply in Inventory=Days in a Year/Inventory Turnover Ratio 63.1 Average days supply in Inventory
AP Turnover Ratio=Cost of Goods Sold/Average Accounts Payable 16 Times
Average Age of Payables=Days in a Year/AP Turnover Ratio 22.8 Average days to pay suppliers
Debt-to-equity Ratio=Total Liabilities/Stockholders Equity 0.26 0.34
P/E ratio=Current Market Price per share/Earnings per share 26.14

Appendix C, C-6

URBAN OUTFITTERS, INC.
Consolidated Statements of Cash Flow
(in thousands)
Percentage
Fiscal Year Ended January 31, Inc/Dec 2 Year Average Forcast
2009 2008 2007 2009 2008 2010 2011 2012
Cash flows from operating activities:
Net income $199,364 $160,231 $116,206 -24.4% -37.9% $251,098 $311,169 $378,575
Adjustments to reconcile net income to net cash provided
by operating activities:
Depreciation and amortization 81,949 70,017 55,713 -17.0% -25.7% $81,949 $81,949 $81,949
Provision for deferred income taxes (9,351) (2,782) (4,959) -236.1% 43.9% (9,351) (9,351) (9,351)
Excess tax benefit of share–based compensation (13,434) (7,341) (5,394) -83.0% -36.1% (13,434) (13,434) (13,434)
Share-based compensation expense 3,637 3,277 3,497 -11.0% 6.3% 3,637 3,637 3,637
Loss on disposition of property and equipment, net 61 317 1,393 80.8% 77.2% 61 61 61
Changes in assets and liabilities:
Receivables (10,726) (5,462) (6,371) -96.4% 14.3% (10,726) (10,726) (10,726)
Inventories (272) (17,430) (13,416) 98.4% -29.9% (272) (272) (272)
Prepaid expenses and other assets 9,210 (22,441) 6,848 141.0% 427.7% 9,210 9,210 9,210
Accounts payable, accrued expenses and other
liabilities (8,868) 75,967 33,600 111.7% -126.1% (8,868) (8,868) (8,868)
Net cash provided by operating activities 251,570 254,353 187,117 1.1% -35.9% $303,304 $363,375 $430,781
Cash flows from investing activities:
Cash paid for property and equipment (112,553) (115,370) (212,029) 2.4% 45.6% (112,553) (112,553) (112,553)
Cash paid for marketable securities (809,039) (293,633) (182,653) -175.5% -60.8% (809,039) (809,039) (809,039)
Sales and maturities of marketable securities 864,685 220,101 193,274 -292.9% -13.9% 864,685 864,685 864,685
Net cash used in investing activities (56,907) (188,902) (201,408) 69.9% 6.2% (56,907) (56,907) (56,907)
Cash flows from financing activities:
Exercise of stock options 8,891 5,000 6,351 -77.8% 21.3% 8,891 8,891 8,891
Excess tax benefit of stock option exercises 13,434 7,341 5,394 -83.0% -36.1% 13,434 13,434 13,434
Share repurchases 0 0 (20,801) 100.0% 0 0 0
Net cash provided by (used in) financing activities 22,325 12,341 (9,056) -80.9% 236.3% 22,325 22,325 22,325
Effect of exchange rate changes on cash and cash equivalents (6,224) 212 702 3035.8% 69.8% (6,224) (6,224) (6,224)
Increase (decrease) in cash and cash equivalents 210,764 78,004 (22,645) -170.2% 444.5% $262,498 $329,005 $396,901
Cash and cash equivalents at beginning of period 105,271 27,267 49,912 -286.1% 45.4% 316,035 $578,533 $907,539
Cash and cash equivalents at end of period 316,035 105,271 27,267 -200.2% -286.1% $578,533 $907,539 $1,304,440
Supplemental cash flow information:
Cash paid during the year for:
Income taxes $115,040 $70,765 $52,535 -62.6% -34.7% $115,040 $115,040 $115,040
Non-cash investing activities—Accrued capital
expenditures $6,551 $6,645 $14,618 1.4% 54.5% $6,551 $6,551 $6,551
The accompanying notes are an integral part of these consolidated financial statements
2010 2011 2012
Cash from operations 303,304.00 363,375.00 430,781.00
add:interest expense (1-t) 0.00 0.00 0.00
less:capital expenditures (6,551.00) (6,551.00) (6,551.00)
Free Cash Flow 296,753.00 356,824.00 424,230.00