Walgreens 2005 Annual Report Download - page 25

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2005 Annual Report 23
Consolidated Statements of Earnings and Shareholders’ Equity
Walgreen Co. and Subsidiaries for the Years Ended August 31, 2005, 2004 and 2003 (Dollars in Millions, except per share data)
Earnings 2005 2004 2003
Net Sales $42,201.6 $37,508.2 $32,505.4
Costs and Deductions Cost of sales 30,413.8 27,310.4 23,706.2
Selling, occupancy and administration 9,363.8 8,055.4 6,938.3
39,777.6 35,365.8 30,644.5
Other Income Interest income 31.6 17.3 10.8
Earnings Earnings before income tax provision 2,455.6 2,159.7 1,871.7
Income tax provision 896.1 809.9 706.6
Net Earnings $ 1,559.5 $ 1,349.8 $ 1,165.1
Net Earnings per Basic $ 1.53 $ 1.32 $ 1.14
Common Share Diluted 1.52 1.31 1.13
Average shares outstanding 1,019,669,630 1,024,512,865 1,024,908,276
Dilutive effect of stock options 8,664,212 7,285,553 6,672,051
Average shares outstanding assuming dilution 1,028,333,842 1,031,798,418 1,031,580,327
Common Stock Common Stock Paid-In Employee Stock Retained Common Stock
Shareholders’ Equity Shares Amount Capital Loan Receivable Earnings in Treasury
Balance, August 31, 2002 1,024,908,276 $ 80.1 $ 748.4 $ — $ 5,334.4 $ —
Net earnings — — — — 1,165.1 —
Cash dividends declared
($.155625 per share) — — — — (159.6) —
Employee stock purchase
and option plans — — (50.6) — — —
Balance, August 31, 2003 1,024,908,276 80.1 697.8 — 6,339.9 —
Net earnings — — — — 1,349.8 —
Cash dividends declared
($.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 1,023,292,737 80.1 632.6 — 7,503.3 (76.3)
Net earnings — — — — 1,559.5 —
Cash dividends declared
($.2225 per share) — — — — (226.5) —
Treasury stock purchases (18,135,900) — — — — (781.8)
Employee stock purchase
and option plans 8,355,210 — (67.6) — — 343.2
Employee stock loan
receivable — — — (76.8) — —
Balance, August 31, 2005 1,013,512,047 $ 80.1 $ 565.0 $(76.8) $ 8,836.3 $(514.9)
The accompanying Summary of Major Accounting Policies and the Notes to Consolidated Financial Statements are integral parts of these statements.