Lowe's 2000 Annual Report Download - page 24

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Lowe’s Companies, Inc.
22
(In Thousands, Except Per Share Data) February 2, % January 28, % January 29,%
Years Ended on 2001 Sales 2000 Sales 1999 Sales
Net Sales
$ 18,778,559 100.0% $15,905,595 100.0% $ 13,330,540 100.0%
Cost of Sales
13,487,791 71.8 11,525,013 72.5 9,756,645 73.2
Gross Margin
5,290,768 28.2 4,380,582 27.5 3,573,895 26.8
Expenses:
Selling, General and Administrative
3,348,060 17.8 2,772,428 17.4 2,341,410 17.5
Store Opening Costs
131,825 0.7 98,448 0.6 75,571 0.6
Depreciation
408,618 2.2 337,359 2.1 288,607 2.2
Interest (Note
14
)
120,825 0.7 84,852 0.5 80,941 0.6
Nonrecurring Merger Costs (Note
2
)
— — 24,378 0.2 — —
Total Expenses
4,009,328 21.4 3,317,465 20.8 2,786,529 20.9
Pre-Tax Earnings
1,281,440 6.8 1,063,117 6.7 787,366 5.9
Income Tax Provision (Note
12
)
471,569 2.5 390,322 2.5 286,992 2.1
Net Earnings
$ 809,871 4.3% $ 672,795 4.2% $ 500,374 3.8%
Basic Earnings Per Share (Note
8
)
$ 2.12 $ 1.76 $ 1.35
Diluted Earnings Per Share (Note
8
)
$ 2.11 $ 1.75 $ 1.34
Cash Dividends Per Share
$ 0.14 $ 0.13 $ 0.12
See accompanying notes to consolidated financial statements.
Lowe’s Companies, Inc.
Consolidated Statements of Earnings