Best Buy 2007 Annual Report Download - page 73

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58
Consolidated Statements of Earnings
$ in millions, except per share amounts
Fiscal Years Ended
March 3,
2007
February 25,
2006
February 26,
2005
Revenue $35,934 $30,848 $ 27,433
Cost of goods sold 27,165 23,122 20,938
Gross profit 8,769 7,726 6,495
Selling, general and administrative expenses 6,770 6,082 5,053
Operating income 1,999 1,644 1,442
Net interest income 111 77 1
Gain on investments 20 — —
Earnings from continuing operations before income tax expense 2,130 1,721 1,443
Income tax expense 752 581 509
Minority interest in earnings 1 — —
Earnings from continuing operations 1,377 1,140 934
Gain on disposal of discontinued operations (Note 2), net of tax — — 50
Net earnings $ 1,377 $ 1,140 $ 984
Basic earnings per share:
Continuing operations $ 2.86 $ 2.33 $ 1.91
Gain on disposal of discontinued operations — — 0.10
Basic earnings per share $ 2.86 $ 2.33 $ 2.01
Diluted earnings per share:
Continuing operations $ 2.79 $ 2.27 $ 1.86
Gain on disposal of discontinued operations — — 0.10
Diluted earnings per share $ 2.79 $ 2.27 $ 1.96
Basic weighted-average common shares outstanding (in millions) 482.1 490.3 488.9
Diluted weighted-average common shares outstanding (in millions) 496.2 504.8 505.0
See Notes to Consolidated Financial Statements.