Walgreens 2007 Annual Report Download - page 26

Download and view the complete annual report

Please find page 26 of the 2007 Walgreens annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 40

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40

Consolidated Statements of Earnings and Shareholders’ Equity
Walgreen Co. and Subsidiaries for the Years Ended August 31, 2007, 2006 and 2005 (In Millions, except shares and per share amounts)
Earnings 2007 2006 2005
Net Sales $53,762.0 $47,409.0 $42,201.6
Costs and Deductions Cost of sales 38,518.1 34,240.4 30,413.8
Selling, occupancy and administration 12,093.2 10,467.1 9,363.8
50,611.3 44,707.5 39,777.6
Other Income Interest income, net 38.4 52.6 31.6
Earnings Earnings before income tax provision 3,189.1 2,754.1 2,455.6
Income tax provision 1,147.8 1,003.5 896.1
Net Earnings $ 2,041.3 $ 1,750.6 $ 1,559.5
Net Earnings per Basic $ 2.04 $ 1.73 $ 1.53
Common Share Diluted 2.03 1.72 1.52
Average shares outstanding 998,633,559 1,010,252,562 1,019,669,630
Dilutive effect of stock options 7,706,509 9,148,162 8,664,212
Average shares outstanding assuming dilution 1,006,340,068 1,019,400,724 1,028,333,842
Accumulated
Common Employee Other Common
Common Stock Paid-In Stock Loan Retained Comprehensive Stock In
Shareholders’ Equity Stock Shares Amount Capital Receivable Earnings Loss Treasury
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)
Net earnings — — — — 2,041.3 — —
Cash dividends declared
($.3275 per share) — — — — (326.2) — —
Treasury stock purchases (23,842,749) — — — — — (1,063.5)
Employee stock purchase
and option plans 7,121,987 — (97.9) — — — 321.8
Stock-based compensation — — 98.2 — — — —
Employee stock loan
receivable — — — 18.7 — — —
Adjustment to initially apply
SFAS No.158, net of tax — — — — — (3.9) —
Balance, August 31, 2007 991,141,357 $80.1 $558.8 $(51.6) $12,026.8 $(3.9) $(1,505.9)
The accompanying Notes to Consolidated Financial Statements are integral parts of these statements.
Page 24 2007 Walgreens Annual Report