Lowe's 2014 Annual Report Download - page 6

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Dollars in millions, except per share data 2014 2013 2012
Net sales $ 56,223 $ 53,417 $ 50,521
Gross margin 34.79% 34.59% 34.30%
EBIT margin
2
8.53% 7.77% 7.05%
Net earnings (% to sales) 4.80% 4.28% 3.88%
Diluted earnings per common share $ 2.71 $ 2.14 $ 1.69
Cash dividends per share $ 0.87 $ 0.70 $ 0.62
Total assets $ 31,827 $ 32,732 $ 32,666
Shareholders’ equity $ 9,968 $ 11,853 $ 13,857
Net cash provided by operating activities $ 4,929 $ 4,111 $ 3,762
Capital expenditures $ 880 $ 940 $ 1,211
Comparable sales increase
4
4.3% 4.8% 1.4%
Total customer transactions (in millions) 857 828 804
Average ticket
5
$ 65.61 $ 64.52 $ 62.82
Selling square feet (in millions) 201 200 197
Return on invested capital
3
13.9% 11.5% 9.3%
1 Sales per selling square foot is defined as sales divided by the average of beginning and ending selling square feet.
2 EBIT margin, also referred to as operating margin, is defined as earnings before interest and taxes as a percentage of sales.
3 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.
4 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.
5 Average ticket is defined as net sales divided by the total number of customer transactions.
FINANCIAL
HIGHLIGHTS
DELIVERING VALUE TO OUR SHAREHOLDERS
0
0.50
1.00
1.50
2.00
$3.00
2.50
0
3
6
9
12
15%
EBIT MARGIN2
(in percent)
0
2.0
4.0
6.0
8.0
10.0%
DILUTED EARNINGS
PER COMMON SHARE
(in dollars)
RETURN ON
INVESTED CAPITAL3
(in percent)
SALES PER SELLING
SQUARE FOOT1
(in dollars)
’14
’13’12
’11 ’11 ’11 ’11’10 ’14
’13’12
’10 ’14
’13’12
’10 ’14
’13’12
’10
0
50
100
150
200
250
$300
4