Lowe's 2014 Annual Report Download - page 44

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Lowe's Companies, Inc.
Consolidated Statements of Earnings
(In millions, except per share and percentage data)
Fiscal years ended on
January 30,
2015 % Sales
January 31,
2014 % Sales
February 1,
2013 % Sales
Net sales $ 56,223
100.00 % $ 53,417
100.00 % $ 50,521
100.00 %
Cost of sales 36,665
65.21
34,941
65.41
33,194
65.70
Gross margin 19,558
34.79
18,476
34.59
17,327
34.30
Expenses:
Selling, general and administrative 13,281
23.62
12,865
24.08
12,244
24.24
Depreciation 1,485
2.64
1,462
2.74
1,523
3.01
Interest - net 516
0.92
476
0.89
423
0.84
Total expenses 15,282
27.18
14,803
27.71
14,190
28.09
Pre-tax earnings 4,276
7.61
3,673
6.88
3,137
6.21
Income tax provision 1,578
2.81
1,387
2.60
1,178
2.33
Net earnings $ 2,698
4.80 % $ 2,286
4.28 % $ 1,959
3.88 %
Basic earnings per common share $ 2.71
$ 2.14
$ 1.69
Diluted earnings per common share $ 2.71
$ 2.14
$ 1.69
Cash dividends per share $ 0.87
$ 0.70
$ 0.62
Lowe's Companies, Inc.
Consolidated Statements of Comprehensive Income
(In millions, except percentage data)
January 30,
2015 % Sales
January 31,
2014 % Sales
February 1,
2013 % Sales
Fiscal years ended on
Net earnings $ 2,698
4.80 % $ 2,286
4.28 % $ 1,959
3.88 %
Foreign currency translation adjustments -
net of tax (86 ) (0.15 ) (68 ) (0.13 ) 6
0.01
Net unrealized investment losses - net of tax
—
—
(1 )
—
—
—
Other comprehensive income/(loss) (86 )
(0.15 ) (69 ) (0.13 ) 6
0.01
Comprehensive income $ 2,612
4.65 % $ 2,217
4.15 % $ 1,965
3.89 %
See accompanying notes to consolidated financial statements.
34
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