Lowe's 2005 Annual Report Download - page 30
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L O W E ’ S 2 0 0 5 A N N U A L R E P O RT
Lowe’sCompanies,Inc.
ConsolidatedStatementsofEarnings
(Inmillions,exceptpershareandpercentagedata) February3, % January28, % January30, %
Yearsendedon 2006 Sales 2005 Sales 2004 Sales
Netsales(Note1) $ 43,243 100.00% $ 36,464 100.00% $ 30,838 100.00%
Costofsales(Note1) 28,443 65.77 24,208 66.39 21,269 68.97
Grossmargin 14,800 34.23 12,256 33.61 9,569 31.03
Expenses:
Selling,generalandadministrative(Notes1and5) 9,014 20.84 7,562 20.74 5,578 18.09
Storeopeningcosts(Note1) 142 0.33 123 0.34 128 0.42
Depreciation(Notes1and4) 980 2.27 859 2.35 739 2.40
Interest(Note15) 158 0.37 176 0.48 180 0.58
Totalexpenses 10,294 23.81 8,720 23.91 6,625 21.49
Pre-taxearnings 4,506 10.42 3,536 9.70 2,944 9.54
Incometaxprovision(Note13) 1,735 4.01 1,360 3.73 1,115 3.61
Earningsfromcontinuingoperations 2,771 6.41 2,176 5.97 1,829 5.93
Earningsfromdiscontinuedoperations,netoftax(Note2) – – – – 15 0.05
Netearnings $ 2,771 6.41% $ 2,176 5.97% $ 1,844 5.98%
Basicearningspershare(Note9)
Continuingoperations $ 3.56 $ 2.80 $ 2.33
Discontinuedoperations – – 0.02
Basicearningspershare
$ 3.56 $ 2.80 $ 2.35
Dilutedearningspershare(Note9)
Continuingoperations $ 3.46 $ 2.71 $ 2.26
Discontinuedoperations – – 0.02
Dilutedearningspershare
$ 3.46 $ 2.71 $ 2.28
Cashdividendspershare $ 0.22 $ 0.15 $ 0.11
Seeaccompanyingnotestotheconsolidatedfinancialstatements.