Lowe's 2011 Annual Report Download - page 11

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FINANCIAL HIGHLIGHTS
Dollars in Millions, Except Per Share Data
2011
1
2010 2009
Net sales $ 50,208 $ 48,815 $ 47,220
Gross margin 34.56% 35.14% 34.86%
EBIT margin
2
6.53 7.29 6.59
Pre-tax earnings 5.79 6.61 5.98
Net earnings 3.66% 4.12% 3.78%
Diluted earnings per common share $ 1.43 $ 1.42 $ 1.21
Cash dividends per share $ 0.530 $ 0.420 $ 0.355
Total assets $ 33,559 $ 33,699 $ 33,005
Shareholders’ equity $ 16,533 $ 18,112 $ 19,069
Net cash provided by operating activities $ 4,349 $ 3,852 $ 4,054
Property acquired $ 1,829 $ 1,329 $ 1,799
Comparable store sales increase (decrease)
3
0.0% 1.3% (6.7%)
Total customer transactions (in millions) 810 786 766
Average ticket
4
$ 62.00 $ 62.07 $ 61.66
Sales floor square feet (in millions) 197 197 193
Return on invested capital
5
8.7% 9.0% 8.2%
1) Fiscal year 2011 contained 53 weeks. Fiscal years 2010 and 2009 contained 52 weeks.
2) EBIT margin, also referred to as operating margin, is defined as earnings before interest and taxes as a
percentage of sales.
3) The comparable store sales increase for 2011 was calculated using sales for a comparable 53 week year.
Please see the Management’s Discussion and Analysis section of our Annual Report on Form 10-K for the
definition of a comparable store.
4) Average ticket is defined as net sales divided by the total number of customer transactions.
5) Return on invested capital (ROIC) is a non-GAAP measure. Please see the Management’s Discussion and
Analysis section of our Annual Report on Form 10-K for the definition of ROIC and a reconciliation of ROIC
for the periods presented to the most directly comparable GAAP measure.
6) Sales per selling square foot is defined as sales divided by the average of beginning and ending square footage.
View our
financial
results.
SALES PER SELLING
SQUARE FOOT6
$50
$100
$150
$200
$250
$300
0
’07 ’08 ’09 ’10 ’11
EBIT MARGIN2
0
2%
4%
6%
8%
10%
’07 ’08 ’09 ’10 ’11
DILUTED EARNINGS
PER COMMON SHARE
0
$0.50
$1.00
$1.50
$2.00
’07 ’08 ’09 ’10 ’11
CASH DIVIDENDS
PER SHARE
’07 ’08 ’09 ’10 ’11
0
$0.10
$0.20
$0.30
$0.40
$0.50
$0.60
Lowe’s Companies, Inc. 2011 Annual Report