Walgreens 2006 Annual Report Download - page 25

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Consolidated Statements of Earnings and Shareholders’ Equity
Walgreen Co. and Subsidiaries for the Years Ended August 31, 2006, 2005 and 2004 (In Millions, except shares and per share amounts)
Earnings 2006 2005 2004
Net Sales $47,409.0 $42,201.6 $37,508.2
Costs and Deductions Cost of sales 34,240.4 30,413.8 27,310.4
Selling, occupancy and administration 10,467.1 9,363.8 8,055.4
44,707.5 39,777.6 35,365.8
Other Income Interest income 52.6 31.6 17.3
Earnings Earnings before income tax provision 2,754.1 2,455.6 2,159.7
Income tax provision 1,003.5 896.1 809.9
Net Earnings $ 1,750.6 $ 1,559.5 $ 1,349.8
Net Earnings per Basic $ 1.73 $ 1.53 $ 1.32
Common Share Diluted 1.72 1.52 1.31
Average shares outstanding 1,010,252,562 1,019,669,630 1,024,512,865
Dilutive effect of stock options 9,148,162 8,664,212 7,285,553
Average shares outstanding assuming dilution 1,019,400,724 1,028,333,842 1,031,798,418
Common Stock Common Stock Paid-In Employee Stock Retained Common Stock
Shareholders’ Equity Shares Amount Capital Loan Receivable Earnings in Treasury
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)
Net earnings — — — — 1,750.6 —
Cash dividends declared
($.2725 per share) — — — — (275.2) —
Treasury stock purchases (15,033,000) — — — — (668.8)
Employee stock purchase
and option plans 9,383,072 — (159.1) — — 419.5
Stock-based compensation — — 152.6 — — —
Employee stock loan
receivable — — — 6.5 — —
Balance, August 31, 2006 1,007,862,119 $80.1 $ 558.5 $(70.3) $10,311.7 $(764.2)
The accompanying Summary of Major Accounting Policies and the Notes to Consolidated Financial Statements are integral parts of these statements.
2006 Walgreens Annual Report Page 23