Lowe's 2012 Annual Report Download - page 10

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Dollars in Millions, Except Per Share Data 2012 2011
1
2010
Net sales $ 50,521 $ 50,208 $ 48,815
Gross margin 34.30% 34.56% 35.14%
EBIT margin
2
7.05% 6.53% 7.29%
Pre-tax earnings 6.21% 5.79% 6.61%
Net earnings 3.88% 3.66% 4.12%
Diluted earnings per common share $ 1.69 $ 1.43 $ 1.42
Cash dividends per share $ 0.62 $ 0.53 $ 0.42
Total assets $ 32,666 $ 33,559 $ 33,699
Shareholders’ equity $ 13,857 $ 16,533 $ 18,112
Net cash provided by operating activities $ 3,762 $ 4,349 $ 3,852
Capital expenditures $ 1,211 $ 1,829 $ 1,329
Comparable sales increase
3
1.4% 0.0% 1.3%
Total customer transactions (in millions) 804 810 786
Average ticket
4
$ 62.82 $ 62.00 $ 62.07
Selling square feet (in millions) 197 197 197
Return on invested capital
5
9.3% 8.7% 9.0%
1
Fiscal year 2011 contained 53 weeks. Fiscal years 2012 and 2010 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
Please see the Management’s Discussion and Analysis section of our Annual Report on Form 10-K for the definition and calculation of a comparable
location.
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.
EBIT MARGIN2
(in percent)
0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
’12
’11’10
’09’08
DILUTED EARNINGS
PER COMMON SHARE
(in dollars)
0
0.25
0.50
0.75
1.00
1.25
1.50
1.75
2.00
’12
’11’10
’09’08
CASH DIVIDENDS
PER SHARE
(in dollars)
0
0.10
0.20
0.30
0.40
0.50
0.60
0.70
’12
’11’10
’09’08
SALES PER SELLING
SQUARE FOOT6
(in dollars)
’12
’11’10
’09’08
0
50
100
150
200
250
300
Financial Highlights
Lowe’s Companies, Inc. 2012 Annual Report page 8