Walgreens 2008 Annual Report Download - page 19

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Five-Year Summary of Selected Consolidated Financial Data
Walgreen Co. and Subsidiaries (Dollars in millions, except per share amounts)
Fiscal Year 2008 2007 2006 2005 2004
Net Sales $59,034 $53,762 $47,409 $42,202 $37,508
Costs and Deductions Cost of sales 42,391 38,518 34,240 30,414 27,310
Selling, general and administrative (1) 13,202 12,093 10,467 9,364 8,055
Other income (expense) (11) 38 52 32 17
Total Costs and Deductions 55,604 50,573 44,655 39,746 35,348
Earnings Earnings Before Income Tax Provision 3,430 3,189 2,754 2,456 2,160
Income tax provision 1,273 1,148 1,003 896 810
Net Earnings $ 2,157 $ 2,041 $ 1,751 $ 1,560 $ 1,350
Per Common Share Net earnings
Basic $ 2.18 $ 2.04 $ 1.73 $ 1.53 $ 1.32
Diluted 2.17 2.03 1.72 1.52 1.31
Dividends declared .40 .33 .27 .22 .18
Book value 13.01 11.20 10.04 8.77 7.95
Non-Current Liabilities Long-term debt $ 1,337 $ 22 $ 3 $ 12 $ 12
Deferred income taxes 150 158 141 240 274
Other non-current liabilities 1,410 1,285 1,116 986 838
Assets and Equity Total assets $22,410 $19,314 $17,131 $14,609 $13,342
Shareholders’ equity 12,869 11,104 10,116 8,890 8,140
Return on average shareholders’ equity 18.0% 19.2% 18.4% 18.3% 17.7%
Locations Year-end (2) 6,934 5,997 5,461 4,985 4,613
(1) Fiscal 2008 included a positive pre-tax adjustment of $79 million ($.050 per share, diluted), which corrected for historically over-accruing
the company’s vacation liability. Fiscal 2008 and fiscal 2007 had insignificant pre-tax income from litigation settlement gains. Fiscal 2006,
2005 and 2004 included pre-tax income of $7 million ($.005 per share, diluted), $26 million ($.016 per share, diluted) and $16 million
($.010 per share, diluted) respectively, from litigation settlements. Fiscal 2006 included a $12 million ($.008 per share, diluted) downward
adjustment of the fiscal 2005 pre-tax expenses of $55 million ($.033 per share, diluted) related to Hurricane Katrina.
(2) Locations include drugstores, worksite facilities, home care facilities, specialty pharmacies and mail service facilities.
2008 Walgreens Annual Report Page 17