Lowe's 2013 Annual Report Download - page 40

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32
Lowe's Companies, Inc.
Consolidated Statements of Earnings
(In millions, except per share and percentage data)
January 31,
2014
% Sales
February 1,
2013
% Sales
February 3,
2012
% Sales
Fiscal years ended on
Net sales
$
53,417
100.00
%
$
50,521
100.00
%
$
50,208
100.00
%
Cost of sales
34,941
65.41
33,194
65.70
32,858
65.44
Gross margin
18,476
34.59
17,327
34.30
17,350
34.56
Expenses:
Selling, general and administrative
12,865
24.08
12,244
24.24
12,593
25.08
Depreciation
1,462
2.74
1,523
3.01
1,480
2.95
Interest - net
476
0.89
423
0.84
371
0.74
Total expenses
14,803
27.71
14,190
28.09
14,444
28.77
Pre-tax earnings
3,673
6.88
3,137
6.21
2,906
5.79
Income tax provision
1,387
2.60
1,178
2.33
1,067
2.13
Net earnings
$
2,286
4.28
%
$
1,959
3.88
%
$
1,839
3.66
%
Basic earnings per common share
$
2.14
$
1.69
$
1.43
Diluted earnings per common share
$
2.14
$
1.69
$
1.43
Cash dividends per share
$
0.70
$
0.62
$
0.53
Lowe's Companies, Inc.
Consolidated Statements of Comprehensive Income
(In millions, except percentage data)
January 31,
2014
% Sales
February 1,
2013
% Sales
February 3,
2012
% Sales
Fiscal years ended on
Net earnings
$
2,286
4.28
%
$
1,959
3.88
%
$
1,839
3.66
%
Foreign currency translation adjustments - net of tax
(68
)
(0.13
)
6
0.01
(8
)
(0.02
)
Net unrealized investment gains/(losses) - net of tax
(1
)
—
—
—
1
—
Other comprehensive income/(loss)
(69
)
(0.13
)
6
0.01
(7
)
(0.02
)
Comprehensive income
$
2,217
4.15
%
$
1,965
3.89
%
$
1,832
3.64
%
See accompanying notes to consolidated financial statements.