5 unchanged sentences
We have not declared or paid dividends at any time during the two fiscal years prior to the date of this Annual Report.
−Removed: We currently anticipate that we will retain future earnings to support investments in our business, to repay outstanding debt or to return capital to shareholders through share repurchases.
−Removed: Any determination to pay dividends will be made at the discretion of our Board of Directors and will depend on our financial condition, results of operations, contractual restrictions, cash requirements and other factors that our Board of Directors deem relevant.
+Added: We currently anticipate we will retain future earnings to support investments in our business, to repay outstanding debt or to return capital to shareholders through share repurchases.
+Added: Any determination to pay dividends will be made at the discretion of our Board of Directors and will depend on our financial condition, results of operations, contractual restrictions, cash requirements and other factors our Board of Directors deem relevant.
Furthermore, as a holding company we rely on cash from our subsidiaries to pay dividends.
4 unchanged sentences
The following graph illustrates the five-year comparative total return among Sally Beauty Holdings, Inc., the S&P 500 Index (“S&P 500”) and the Dow Jones U.S.
−Removed: Specialty Retailers Index (“DJ US Specialty Retailers”) assuming that $100 was invested on September 30, 2015, and that dividends, if any, were reinvested.
+Added: Specialty Retailers Index (“DJ US Specialty Retailers”) assuming $100 was invested on September 30, 2016, and dividends, if any, were reinvested.
The DJ US Specialty Retailers is a non-managed index and provides a comprehensive view of issuers, including our common stock, that are primarily in the U.S.
9 unchanged sentences
DJ US Specialty Retailers
−Removed: SELECTED FINANCIAL DATA
−Removed: The following table presents selected financial data of Sally Beauty for each of the years in the five-year period ended September 30, 2020 (dollars and shares in thousands, except per share data):
−Removed: Fiscal Year Ended September 30,
−Removed: Results of operations:
−Removed: Cost of goods sold
−Removed: Selling, general and administrative expenses (a)
−Removed: Restructuring
−Removed: Operating earnings
−Removed: Interest expense (b)
−Removed: Earnings before provision for income taxes
−Removed: Provision for income taxes
−Removed: Earnings per share
−Removed: Weighted average shares, basic
−Removed: Weighted average shares, diluted
−Removed: Operating data:
−Removed: Number of stores, including franchises (at end of period):
−Removed: Distributor sales consultants (at end of period)
−Removed: Same store sales growth (decline) (c) :
−Removed: Financial condition (at end of period):
−Removed: Cash and cash equivalents
−Removed: Total assets (d)
−Removed: Operating lease liability (d)
−Removed: Long-term debt, excluding current maturities
−Removed: Stockholders’ equity (deficit) (e)
−Removed: In the fiscal years 2020, 2019, 2018, 2017 and 2016, selling, general and administrative expenses include depreciation and amortization of $106.8 million, $107.7 million, $108.8 million, $112.3 million and $99.7 million, respectively.
−Removed: In the fiscal years 2017 and 2016, interest expense reflects a loss on extinguishment of debt of $28.0 million and $33.3 million, respectively, related to our refinancing of certain outstanding senior notes in the ordinary course of our business.
−Removed: For the purpose of calculating our same store sales metrics, we compare the current period sales for stores open for 14 months or longer as of the last day of a month with the sales for these stores for the comparable period in the prior fiscal year.
−Removed: Our same store sales are calculated in constant U.S.
−Removed: dollars and include e-commerce sales from certain digital platforms, but do not generally include the sales from stores relocated until 14 months after the relocation.
−Removed: The sales from stores acquired are excluded from our same store sales calculation until 14 months after the acquisition.
−Removed: In fiscal year 2020, we adopted Accounting Standards Update No.
−Removed: 2016-02, Leases , using a modified retrospective transition method without restating comparative periods and resulted in the recognition of operating lease assets and lease liabilities.
−Removed: See Note 3 of the Notes to Consolidated Financial Statements in Item 8 contained in this Annual Report for additional information.
−Removed: Stockholders’ equity (deficit) for the fiscal years 2020, 2019, 2018, 2017 and 2016 reflects the repurchase and retirement of 4.7 million shares, 3.6 million shares, 10.0 million shares, 16.1 million shares and 7.8 million shares of our common stock at a cost of $61.4 million, $46.6 million, $165.9 million, $ 346.1 million and $207.3 million, respectively, under share repurchase programs approved by our Board of Directors.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.