Best Buy 2006 Annual Report Download - page 70

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56
Consolidated Statements of Earnings
$ in millions, except per share amounts
For the Fiscal Years Ended
February 25,
2006
February 26,
2005
February 28,
2004
Revenue $30,848$27,433 $24,548
Cost of goods sold 23,122 20,938 18,677
Gross profit 7,726 6,495 5,871
Selling, general and administrative expenses 6,082 5,053 4,567
Operating income 1,644 1,442 1,304
Net interest income (expense) 77 1 (8)
Earnings from continuing operations before income tax expense 1,721 1,443 1,296
Income tax expense 581 509 496
Earnings from continuing operations 1,140 934 800
Loss from discontinued operations (Note 2), net of tax— — (29)
Gain (loss) on disposal of discontinued operations (Note 2), net of tax —50 (66)
Net earnings$ 1,140 $ 984 $ 705
Basic earnings (loss) per share:
Continuing operations $ 2.33 $ 1.91 $ 1.65
Discontinued operations — — (0.06)
Gain (loss) on disposal ofdiscontinued operations — 0.10 (0.14)
Basic earnings per share $ 2.33 $ 2.01 $ 1.45
Diluted earnings (loss) per share:
Continuing operations $ 2.27 $ 1.86 $ 1.61
Discontinued operations — — (0.06)
Gain (loss) on disposal ofdiscontinued operations — 0.10 (0.13)
Diluted earnings per share $ 2.27 $ 1.96 $ 1.42
Basic weighted-average common shares outstanding (in millions) 490.3 488.9 485.0
Diluted weighted-averagecommon shares outstanding (in millions) 504.8 505.0 500.8
See Notes to Consolidated Financial Statements.