Walgreens 2004 Annual Report Download - page 22

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22
Item 8. Financial Statements and Supplementary Data
Consolidated Statements of Earnings and Shareholders’ Equity
Walgreen Co. and Subsidiaries
For the Years Ended August 31, 2004, 2003 and 2002
(Dollars in Millions, except per share data)
(Restated - See Restatement Note on Pages 29-30)
Earnings 2004 2003 2002
Net Sales $37,508.2
$32,505.4
$28,681.1
Costs and Deductions
Cost of sales 27,310.4
23,706.2
21,076.1
Selling, occupancy and
administration 8,071.7
6,967.9
5,998.7
35,382.1
30,674.1
27,074.8
Other Income
Interest income 17.3
10.8
6.9
Other income 16.3
29.6
6.2
33.6
40.4
13.1
Earnings
Earnings before income tax
provision 2,159.7
1,871.7
1,619.4
Income tax provision 809.9
706.6
611.3
Net Earnings $ 1,349.8
$ 1,165.1
$ 1,008.1
Net Earnings per Common Share
Basic
$ 1.32
$ 1.14
$ .99
Diluted 1.31
1.13
.98
Average shares outstanding 1,024,512,865
1,024,908,276
1,022,554,460
Dilutive effect of stock options 7,285,553
6,672,051
9,716,486
Average shares outstanding
assuming dilution 1,031,798,418
1,031,580,327
1,032,270,946
Common
Stock
Common
Stock Paid-in Retained
Common
Stock in
Shareholders’ Equity Shares Amount Capital Earnings Treasury
Balance, August 31, 2001 (as restated) 1,019,425,052 $79.6 $596.7 $4,474.7
$ -
Net earnings (as restated) - - - 1,008.1
-
Cash dividends declared
($.145 per share) - -
- (148.4)
-
Employee stock purchase and
option plans 5,483,224 .5
151.7 -
-
Balance, August 31, 2002 (as restated) 1,024,908,276 80.1 748.4 5,334.4
-
Net earnings (as restated) - - - 1,165.1
-
Cash dividends declared
($.155625 per share) - -
- (159.6)
-
Employee stock purchase and
option plans - -
(50.6) -
-
Balance, August 31, 2003 (as restated) 1,024,908,276 80.1 697.8 6,339.9
-
Net earnings (as restated) - - - 1,349.8
-
Cash dividends declared
($.181875 per share) - -
- (186.4)
-
Treasury stock purchases (8,518,500) - - -
(299.2)
Employee stock purchase and
option plans 6,902,961 -
(65.2) -
222.9
Balance, August 31, 2004 (as restated) 1,023,292,737 $80.1 $632.6 $7,503.3
$ (76.3)