URBAN OUTFITTERS, INC. Consolidated Statements of Income (in thousands, except share and per share data) Fiscal Year Ended January 31, 2019 2018 2017 3,616,014 2,440,507 1,175,507 915,615 259,892 3,545,794 2,301,181 1,244,613 906,086 Net sales 3,950,623 Cost of sales Gross profit Selling, general and administrative expenses Income from operations 2,603,911 1,346,712 965,399 381,313 9,530 1,035 338,527 1,879 2,280 Interest income 4,879 1,435 Other income Other expenses (6,325) 385,553 (4,840) 261,366 (4,587) 338,099 Income before income taxes Income tax expense 87,550 298,003 153,103 108,263 119,979 218,120 Net income Net income per common share: Basic 2.75 0.97 1.87 Diluted 2.72 0.96 1.86 Weighted-average common shares outstanding: Basic 108,303,594 111,887,308 116,873,023 Diluted 109,706,007 112,367,924 117,291,117 January 31, January 31, 2019 2018 ASSETS Current assets: Cash and cash equivalents 358,260 279,232 80,461 370,507 114,296 282,220 165,125 76,962 351,395 Marketable securities Accounts receivable, net of allowance for doubtful accounts of $1,499 and $1,326, respectively Inventory Prepaid expenses and other current assets 103,055 Total current assets Property and equipment, net Marketable securities 1,202,756 796,029 57,292 978,757 813,768 58,688 Deferred income taxes and other assets 104,438 2,160,515 101,567 1,952,780 Total Assets 2$ LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable Accrued compensation and benefits Accrued expenses and other current liabilities 144,414 54,799 128,246 36,058 195,910 187,431 386,644 Total current liabilities 360,214 Long-term debt 284,773 671,417 291,663 651,877 Deferred rent and other liabilities Total Liabilities Commitments and contingencies (see Note 14) Shareholders' equity: Preferred shares; $.0001 par value, 10,000,000 shares authorized, none issued Common shares; $.0001 par value, 200,000,000 shares authorized, 105,642,283 and 108,248,568 shares issued and outstanding, respectively Additional paid-in-capital Retained earnings Accumulated other comprehensive loss Total Shareholders' Equity Total Liabilities and Shareholders’ Equity 11 11 684 1,516,190 1,310,859 (27,103) 1,489,098 2$ (10,651) 1,300,903 1,952,780 2,160,515