DICK'S Sporting Goods (DKS) 10-Q 26 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Nov. 01, 2014	Nov. 21, 2014	Nov. 21, 2014
		Common Stock	Class B Common Stock
Entity Registrant Name	'DICKS SPORTING GOODS INC	'	'
Entity Central Index Key	'0001089063	'	'
Current Fiscal Year End Date	'--01-31	'	'
Entity Filer Category	'Large Accelerated Filer	'	'
Document Type	'10-Q	'	'
Document Period End Date	1-Nov-14	'	'
Document Fiscal Year Focus	'2014	'	'
Document Fiscal Period Focus	'Q3	'	'
Amendment Flag	'false	'	'
Entity Common Stock, Shares Outstanding	'	94,742,403	24,900,870
Entity Current Reporting Status	'Yes	'	'

CONSOLIDATED_STATEMENTS_OF_INC

CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
Income Statement [Abstract]	'	'	'	'
Net sales	$1,526,675	$1,400,623	$4,654,473	$4,265,755
Cost of goods sold, including occupancy and distribution costs	1,074,703	975,724	3,259,063	2,949,872
GROSS PROFIT	451,972	424,899	1,395,410	1,315,883
Selling, general and administrative expenses	357,708	333,724	1,063,351	983,382
Pre-opening expenses	14,334	12,122	28,480	18,736
INCOME FROM OPERATIONS	79,930	79,053	303,579	313,765
Interest expense	858	696	2,230	2,081
Other income	-486	-2,735	-4,863	-10,675
INCOME BEFORE INCOME TAXES	79,558	81,092	306,212	322,359
Provision for income taxes	30,347	31,115	117,550	123,398
NET INCOME	$49,211	$49,977	$188,662	$198,961
EARNINGS PER COMMON SHARE:	'	'	'	'
Basic (in dollars per share)	$0.42	$0.41	$1.58	$1.62
Diluted (in dollars per share)	$0.41	$0.40	$1.55	$1.58
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:	'	'	'	'
Basic (in shares)	118,142	123,221	119,743	122,942
Diluted (in shares)	120,002	125,842	121,734	125,766
Cash dividends declared per common share (in dollars per share)	$0.13	$0.13	$0.38	$0.38

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - UNAUDITED (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
NET INCOME	$49,211	$49,977	$188,662	$198,961
OTHER COMPREHENSIVE LOSS:	'	'	'	'
Foreign currency translation adjustment, net of tax	-25	-3	-9	-34
TOTAL OTHER COMPREHENSIVE LOSS	-25	-3	-9	-34
COMPREHENSIVE INCOME	$49,186	$49,974	$188,653	$198,927

CONSOLIDATED_BALANCE_SHEETS_UN

CONSOLIDATED BALANCE SHEETS - UNAUDITED (USD $)	Nov. 01, 2014	Feb. 01, 2014	Nov. 02, 2013
In Thousands, unless otherwise specified
CURRENT ASSETS:	'	'	'
Cash and cash equivalents	$77,933	$181,731	$65,647
Accounts receivable, net	87,944	60,779	81,389
Income taxes receivable	10,361	7,275	34,635
Inventories, net	1,765,119	1,232,065	1,570,034
Prepaid expenses and other current assets	92,375	99,386	104,806
Deferred income taxes	42,133	38,835	48,414
Total current assets	2,075,865	1,620,071	1,904,925
Property and equipment, net	1,195,274	1,084,529	1,059,865
Intangible assets, net	111,195	98,255	98,792
Goodwill	200,594	200,594	200,594
Other assets:	'	'	'
Deferred income taxes	2,209	2,477	3,286
Other	70,395	65,561	80,433
Total other assets	72,604	68,038	83,719
TOTAL ASSETS	3,655,532	3,071,487	3,347,895
CURRENT LIABILITIES:	'	'	'
Accounts payable	826,945	562,439	738,196
Accrued expenses	307,708	265,040	316,421
Deferred revenue and other liabilities	123,665	154,384	106,847
Income taxes payable	0	19,825	0
Current portion of other long-term debt and leasing obligations	461	899	7,540
Total current liabilities	1,258,779	1,002,587	1,169,004
LONG-TERM LIABILITIES:	'	'	'
Revolving credit borrowings	280,500	0	116,400
Other long-term debt and leasing obligations	6,108	6,476	6,596
Deferred income taxes	23,584	38,617	29,160
Deferred revenue and other liabilities	422,407	331,628	328,712
Total long-term liabilities	732,599	376,721	480,868
COMMITMENTS AND CONTINGENCIES	'	'	'
STOCKHOLDERS' EQUITY:	'	'	'
Additional paid-in capital	987,892	958,943	937,742
Retained earnings	1,330,542	1,187,514	1,064,511
Accumulated other comprehensive income	15	24	78
Treasury stock, at cost	-655,469	-455,512	-305,539
Total stockholders' equity	1,664,154	1,692,179	1,698,023
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	3,655,532	3,071,487	3,347,895
Common Stock	'	'	'
STOCKHOLDERS' EQUITY:	'	'	'
Common stock	925	961	982
Class B Common Stock	'	'	'
STOCKHOLDERS' EQUITY:	'	'	'
Common stock	$249	$249	$249

CONSOLIDATED_STATEMENTS_OF_CHA

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - UNAUDITED (USD $)	Total	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income	Treasury Stock	Common Stock	Common Stock
In Thousands, except Share data, unless otherwise specified							Class B Common Stock
BALANCE at Feb. 01, 2014	$1,692,179	$958,943	$1,187,514	$24	($455,512)	$961	$249
BALANCE (in shares) at Feb. 01, 2014	'	'	'	'	'	96,065,661	24,900,870
(Decrease) Increase in Stockholders' Equity	'	'	'	'	'	'	'
Exercise of stock options	10,671	10,667	'	'	'	4	'
Exercise of stock options (in shares)	'	'	'	'	'	460,586	'
Restricted stock vested	0	-4	'	'	'	4	'
Restricted stock vested (in shares)	'	'	'	'	'	427,960	'
Minimum tax withholding requirements	-7,722	-7,721	'	'	'	-1	'
Minimum tax withholding requirements (in shares)	'	'	'	'	'	-138,363	'
Net income	188,662	'	188,662	'	'	'	'
Stock-based compensation	19,430	19,430	'	'	'	'	'
Total tax benefit from exercise of stock options	6,577	6,577	'	'	'	'	'
Foreign currency translation adjustment, net of taxes of $5	-9	'	'	-9	'	'	'
Purchase of shares for treasury	-200,000	'	'	'	-199,957	-43	'
Purchase of shares for treasury (in shares)	'	'	'	'	'	-4,328,875	'
Cash dividends declared	-45,634	'	-45,634	'	'	'	'
BALANCE at Nov. 01, 2014	$1,664,154	$987,892	$1,330,542	$15	($655,469)	$925	$249
BALANCE (in shares) at Nov. 01, 2014	'	'	'	'	'	92,486,969	24,900,870

CONSOLIDATED_STATEMENTS_OF_CHA1

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - UNAUDITED (Parenthetical) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Nov. 01, 2014
Statement of Stockholders' Equity [Abstract]	'
Foreign currency translation adjustment, taxes	$5

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net income	$188,662	$198,961
Adjustments to reconcile net income to net cash provided by (used in) operating activities	'	'
Depreciation and amortization	131,000	113,437
Deferred income taxes	-18,063	4,718
Stock-based compensation	19,430	20,610
Excess tax benefit from exercise of stock options	-6,588	-20,966
Tax benefit from exercise of stock options	28	125
Gain on sale of asset	-14,428	0
Other non-cash items	435	435
Changes in assets and liabilities:	'	'
Accounts receivable	-14,146	-28,850
Inventories	-533,054	-473,848
Prepaid expenses and other assets	-12,870	-9,752
Accounts payable	290,216	209,346
Accrued expenses	25,532	3,440
Income taxes payable / receivable	-16,362	-66,680
Deferred construction allowances	87,898	37,125
Deferred revenue and other liabilities	-24,933	-45,804
Net cash provided by (used in) operating activities	102,757	-57,703
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Capital expenditures	-271,257	-196,862
Proceeds from sale of other assets	74,534	11,000
Deposits and purchases of other assets	-26,780	-60,048
Net cash used in investing activities	-223,503	-245,910
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Revolving credit borrowings	1,057,600	680,000
Revolving credit repayments	-777,100	-563,600
Payments on other long-term debt and leasing obligations	-806	-2,139
Construction allowance receipts	0	0
Proceeds from exercise of stock options	10,671	34,920
Excess tax benefit from exercise of stock options	6,588	20,966
Minimum tax withholding requirements	-7,722	-13,090
Cash paid for treasury stock	-200,000	-105,603
Cash dividends paid to stockholders	-46,564	-48,977
(Decrease) increase in bank overdraft	-25,710	21,603
Net cash provided by financing activities	16,957	24,080
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	-9	-34
NET DECREASE IN CASH AND CASH EQUIVALENTS	-103,798	-279,567
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	181,731	345,214
CASH AND CASH EQUIVALENTS, END OF PERIOD	77,933	65,647
Supplemental disclosure of cash flow information:	'	'
Accrued property and equipment	56,708	81,025
Cash paid for interest	1,700	1,595
Cash paid for income taxes	$151,380	$192,725

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Nov. 01, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Basis of Presentation	'
	Basis of Presentation
	Dick's Sporting Goods, Inc. (together with its subsidiaries, referred to as the "Company", "we", "us" and "our" unless specified otherwise) is a leading omni-channel sporting goods retailer offering an extensive assortment of authentic, high-quality sports equipment, apparel, footwear and accessories in a specialty store environment. The Company also owns and operates Golf Galaxy, Field & Stream and True Runner specialty stores. When used in this Quarterly Report on Form 10-Q, unless the context otherwise requires or otherwise specifies, any reference to "year" is to our fiscal year.
	The accompanying unaudited consolidated financial statements have been prepared by us in accordance with the requirements for Quarterly Reports on Form 10-Q and do not include all the disclosures normally required in annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The interim consolidated financial statements are unaudited and have been prepared on the same basis as the annual audited consolidated financial statements. In the opinion of management, such unaudited consolidated financial statements include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the interim financial information. This unaudited interim financial information should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended February 1, 2014 as filed with the Securities and Exchange Commission on March 28, 2014. Operating results for the 13 and 39 weeks ended November 1, 2014 are not necessarily indicative of the results that may be expected for the fiscal year ending January 31, 2015 or any other period.
	Certain reclassifications have been made to prior year amounts within the unaudited Consolidated Statement of Cash Flows to conform to current year presentation.
	Recently Issued Accounting Pronouncement
	Contracts with Customers
	In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, "Revenue from Contracts with Customers." This update requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additionally, the update (1) specifies the accounting for some costs to obtain or fulfill a contract with a customer and (2) expands disclosure requirements related to revenue and cash flows arising from contracts with customers. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, and permits the use of either the retrospective or cumulative effect transition method. Early application is not permitted. The Company is currently evaluating the impact of the adoption of ASU 2014-09 on the Company’s Consolidated Financial Statements.

Store_Closings

Store Closings	9 Months Ended
	Nov. 01, 2014
Store Closings [Abstract]	'
Store Closings	'
	Store Closings
	The calculation of accrued store closing and relocation reserves primarily includes future minimum lease payments, maintenance costs and taxes from the date of closure or relocation to the end of the remaining lease term, net of contractual or estimated sublease income. The liability is discounted using a credit-adjusted risk-free rate of interest. The assumptions used in the calculation of the accrued store closing and relocation reserves are evaluated each quarter.
	The following table summarizes the activity in fiscal 2014 and 2013 (in thousands):
		39 Weeks Ended
		November 1,			November 2,
		2014			2013
	Accrued store closing and relocation reserves, beginning of period	$	17,102		$	31,785
	Expense charged to earnings	2,119			—
	Cash payments	(5,357		)	(8,998		)
	Interest accretion and other changes in assumptions	(81		)	(3,550		)
	Accrued store closing and relocation reserves, end of period	13,783			19,237
	Less: current portion of accrued store closing and relocation reserves	(4,267		)	(6,874		)
	Long-term portion of accrued store closing and relocation reserves	$	9,516		$	12,363
	The current portion of accrued store closing and relocation reserves is included within accrued expenses and the long-term portion is included within long-term deferred revenue and other liabilities on the unaudited Consolidated Balance Sheets. The related expense is recorded within selling, general and administrative expenses on the unaudited Consolidated Statements of Income.

Earnings_Per_Common_Share

Earnings Per Common Share	9 Months Ended
	Nov. 01, 2014
Earnings Per Share [Abstract]	'
Earnings Per Common Share	'
	Earnings Per Common Share
	Basic earnings per common share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per common share is computed based on the weighted average number of shares of common stock, plus the effect of dilutive potential common shares outstanding during the period, using the treasury stock method. Dilutive potential common shares include outstanding stock options, restricted stock and warrants.
	The computations for basic and diluted earnings per common share are as follows (in thousands, except per share data):
		13 Weeks Ended				39 Weeks Ended
		November 1,		November 2,		November 1,		November 2,
		2014		2013		2014		2013
	Net income	$	49,211	$	49,977	$	188,662	$	198,961
	Weighted average common shares outstanding - basic	118,142		123,221		119,743		122,942
	Dilutive effect of stock-based awards	1,860		2,621		1,991		2,824
	Weighted average common shares outstanding - diluted	120,002		125,842		121,734		125,766
	Earnings per common share - basic	$	0.42	$	0.41	$	1.58	$	1.62
	Earnings per common share - diluted	$	0.41	$	0.4	$	1.55	$	1.58
	Anti-dilutive stock-based awards excluded from diluted calculation	1,428		1,086		1,435		977

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Nov. 01, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	Fair Value Measurements
	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). Accounting Standard Codification ("ASC") 820, "Fair Value Measurement and Disclosures", outlines a valuation framework and creates a fair value hierarchy in order to increase the consistency and comparability of fair value measurements and the related disclosures, and prioritizes the inputs used in measuring fair value as follows:
	Level 1:	Observable inputs such as quoted prices in active markets;
	Level 2:	Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and
	Level 3:	Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.
	Assets measured at fair value on a recurring basis as of November 1, 2014 and February 1, 2014 are set forth in the table below (in thousands):
	Description		Level 1		Level 2		Level 3
	As of November 1, 2014
	Assets:
	Deferred compensation plan assets held in trust (1)		$	54,739	$	—	$	—
	Total assets		$	54,739	$	—	$	—
	As of February 1, 2014
	Assets:
	Deferred compensation plan assets held in trust (1)		$	49,351	$	—	$	—
	Total assets		$	49,351	$	—	$	—
	(1)	Consists of investments in various mutual funds made by eligible individuals as part of the Company's deferred compensation plan.
	The fair value of cash and cash equivalents, accounts receivable, accounts payable, revolving credit borrowings and certain other liabilities approximated book value due to the short-term nature of these instruments at both November 1, 2014 and February 1, 2014.
	The Company uses quoted prices in active markets to determine the fair value of the aforementioned assets determined to be Level 1 instruments. The Company's policy for recognition of transfers between levels of the fair value hierarchy is to recognize any transfer at the end of the fiscal quarter in which the determination to transfer was made. The Company did not transfer any assets or liabilities among the levels within the fair value hierarchy during the 39 weeks ended November 1, 2014 or the fiscal year ended February 1, 2014.

Intangible_Assets

Intangible Assets	9 Months Ended
	Nov. 01, 2014
Intangible Assets Disclosure [Abstract]	'
Intangible Assets	'
	Intangible Assets
	On October 1, 2014, the Company purchased the intellectual property rights to the Field & Stream mark in product categories that were not otherwise owned by the Company for $26.3 million. The Company previously owned the intellectual property rights to the Field & Stream mark in the hunt, camp, fish and paddle product categories. These Field & Stream intellectual property assets are indefinite-lived intangible assets, which are not being amortized.

Subsequent_Event

Subsequent Event	9 Months Ended
	Nov. 01, 2014
Subsequent Events [Abstract]	'
Subsequent Event	'
	Subsequent Event
	On November 13, 2014, our Board of Directors declared a quarterly cash dividend in the amount of $0.125 per share of common stock and Class B common stock payable on December 26, 2014 to stockholders of record as of the close of business on December 5, 2014.

Store_Closings_Tables

Store Closings (Tables)	9 Months Ended
	Nov. 01, 2014
Store Closings [Abstract]	'
Schedule of the entity's accrued store closing and relocation reserves	'
	The following table summarizes the activity in fiscal 2014 and 2013 (in thousands):
		39 Weeks Ended
		November 1,			November 2,
		2014			2013
	Accrued store closing and relocation reserves, beginning of period	$	17,102		$	31,785
	Expense charged to earnings	2,119			—
	Cash payments	(5,357		)	(8,998		)
	Interest accretion and other changes in assumptions	(81		)	(3,550		)
	Accrued store closing and relocation reserves, end of period	13,783			19,237
	Less: current portion of accrued store closing and relocation reserves	(4,267		)	(6,874		)
	Long-term portion of accrued store closing and relocation reserves	$	9,516		$	12,363

Earnings_Per_Common_Share_Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Nov. 01, 2014
Earnings Per Share [Abstract]	'
Schedule of the computations for basic and diluted earnings per common share	'
	The computations for basic and diluted earnings per common share are as follows (in thousands, except per share data):
		13 Weeks Ended				39 Weeks Ended
		November 1,		November 2,		November 1,		November 2,
		2014		2013		2014		2013
	Net income	$	49,211	$	49,977	$	188,662	$	198,961
	Weighted average common shares outstanding - basic	118,142		123,221		119,743		122,942
	Dilutive effect of stock-based awards	1,860		2,621		1,991		2,824
	Weighted average common shares outstanding - diluted	120,002		125,842		121,734		125,766
	Earnings per common share - basic	$	0.42	$	0.41	$	1.58	$	1.62
	Earnings per common share - diluted	$	0.41	$	0.4	$	1.55	$	1.58
	Anti-dilutive stock-based awards excluded from diluted calculation	1,428		1,086		1,435		977

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Nov. 01, 2014
Fair Value Disclosures [Abstract]	'
Schedule of assets measured at fair value on a recurring basis	'
	Assets measured at fair value on a recurring basis as of November 1, 2014 and February 1, 2014 are set forth in the table below (in thousands):
	Description		Level 1		Level 2		Level 3
	As of November 1, 2014
	Assets:
	Deferred compensation plan assets held in trust (1)		$	54,739	$	—	$	—
	Total assets		$	54,739	$	—	$	—
	As of February 1, 2014
	Assets:
	Deferred compensation plan assets held in trust (1)		$	49,351	$	—	$	—
	Total assets		$	49,351	$	—	$	—
	(1)	Consists of investments in various mutual funds made by eligible individuals as part of the Company's deferred compensation plan.

Store_Closings_Details

Store Closings (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013
Store Closings	'	'
Accrued store closing and relocation reserves, beginning of period	$17,102	$31,785
Expense charged to earnings	2,119	0
Cash payments	-5,357	-8,998
Interest accretion and other changes in assumptions	-81	-3,550
Accrued store closing and relocation reserves, end of period	13,783	19,237
Less: current portion of accrued store closing and relocation reserves	-4,267	-6,874
Long-term portion of accrued store closing and relocation reserves	$9,516	$12,363

Earnings_Per_Common_Share_Deta

Earnings Per Common Share (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
Earnings Per Share [Abstract]	'	'	'	'
Net income	$49,211	$49,977	$188,662	$198,961
Weighted average common shares outstanding - basic	118,142	123,221	119,743	122,942
Dilutive effect of stock-based awards (in shares)	1,860	2,621	1,991	2,824
Weighted average common shares outstanding - diluted	120,002	125,842	121,734	125,766
Earnings per common share - basic (in dollars per share)	$0.42	$0.41	$1.58	$1.62
Earnings per common share - diluted (in dollars per share)	$0.41	$0.40	$1.55	$1.58
Anti-dilutive stock-based awards excluded from diluted calculation (in shares)	1,428	1,086	1,435	977

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Nov. 01, 2014		Feb. 01, 2014
In Thousands, unless otherwise specified
Level 1	'		'
Fair Value Measurements	'		'
Deferred compensation plan assets held in trust	$54,739	[1]	$49,351	[1]
Total assets	54,739		49,351
Level 2	'		'
Fair Value Measurements	'		'
Deferred compensation plan assets held in trust	0	[1]	0	[1]
Total assets	0		0
Level 3	'		'
Fair Value Measurements	'		'
Deferred compensation plan assets held in trust	0	[1]	0	[1]
Total assets	$0		$0
[1]	Consists of investments in various mutual funds made by eligible individuals as part of the Company's deferred compensation plan.

Intangible_Assets_Details

Intangible Assets (Details) (Field And Stream Trademarks, USD $)	0 Months Ended
In Millions, unless otherwise specified	Oct. 01, 2014
Field And Stream Trademarks	'
Intangible Assets	'
Intellectual property rights	$26.30

Subsequent_Event_Details

Subsequent Event (Details) (Subsequent Event, USD $)	0 Months Ended
	Nov. 13, 2014
Subsequent Event	'
Declaration date	13-Nov-14
Payment date	26-Dec-14
Record date	5-Dec-14
Common Stock	'
Subsequent Event	'
Dividend amount (in dollars per share)	0.125
Class B Common Stock	'
Subsequent Event	'
Dividend amount (in dollars per share)	0.125