Lowe's 2015 Annual Report Download - page 43

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34
Lowe’s Companies, Inc.
Consolidated Statements of Earnings
(In millions, except per share and percentage data)
January 29,
2016
% Sales
January 30,
2015
% Sales
January 31,
2014
% Sales
Fiscal years ended on
Net sales
$
59,074
100.00
%
$
56,223
100.00
%
$
53,417
100.00
%
Cost of sales
38,504
65.18
36,665
65.21
34,941
65.41
Gross margin
20,570
34.82
19,558
34.79
18,476
34.59
Expenses:
Selling, general and administrative
14,115
23.90
13,281
23.62
12,865
24.08
Depreciation
1,484
2.51
1,485
2.64
1,462
2.74
Interest - net
552
0.93
516
0.92
476
0.89
Total expenses
16,151
27.34
15,282
27.18
14,803
27.71
Pre-tax earnings
4,419
7.48
4,276
7.61
3,673
6.88
Income tax provision
1,873
3.17
1,578
2.81
1,387
2.60
Net earnings
$
2,546
4.31
%
$
2,698
4.80
%
$
2,286
4.28
%
Basic earnings per common share
$
2.73
$
2.71
$
2.14
Diluted earnings per common share
$
2.73
$
2.71
$
2.14
Cash dividends per share
$
1.07
$
0.87
$
0.70
Lowe’s Companies, Inc.
Consolidated Statements of Comprehensive Income
(In millions, except percentage data)
January 29,
2016
% Sales
January 30,
2015
% Sales
January 31,
2014
% Sales
Fiscal years ended on
Net earnings
$
2,546
4.31
%
$
2,698
4.80
%
$
2,286
4.28
%
Foreign currency translation adjustments -
net of tax
(291
)
(0.49
)
(86
)
(0.15
)
(68
)
(0.13
)
Net unrealized investment losses - net of tax
—
—
—
—
(1
)
—
Other comprehensive loss
(291
)
(0.49
)
(86
)
(0.15
)
(69
)
(0.13
)
Comprehensive income
$
2,255
3.82
%
$
2,612
4.65
%
$
2,217
4.15
%
See accompanying notes to consolidated financial statements.