Walgreens 2015 Annual Report Download - page 67

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WALGREENS BOOTS ALLIANCE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
For the years ended August 31, 2015, 2014 and 2013
(In millions, except share and per share amounts)
2015 2014 2013
Net sales $103,444 $76,392 $72,217
Cost of sales 76,520 54,823 51,098
Gross Profit 26,924 21,569 21,119
Selling, general and administrative expenses 22,571 17,992 17,543
Gain on sale of business — — 20
Equity earnings in Alliance Boots 315 617 496
Operating Income 4,668 4,194 4,092
Gain on previously held equity interest 563 — —
Other income (expense) 685 (481) 120
Earnings Before Interest and Income Tax Provision 5,916 3,713 4,212
Interest expense, net 605 156 165
Earnings Before Income Tax Provision 5,311 3,557 4,047
Income tax provision 1,056 1,526 1,499
Post tax earnings from equity method investments 24 — —
Net Earnings 4,279 2,031 2,548
Net earnings attributable to noncontrolling interests 59 99 —
Net Earnings Attributable to Walgreens Boots Alliance, Inc. $ 4,220 $ 1,932 $ 2,548
Net earnings per common share attributable to Walgreens Boots Alliance, Inc. –
basic $ 4.05 $ 2.03 $ 2.69
Net earnings per common share attributable to Walgreens Boots Alliance, Inc. –
diluted $ 4.00 $ 2.00 $ 2.67
Average shares outstanding 1,043.2 953.1 946.0
Dilutive effect of stock options 10.7 12.1 9.2
Average diluted shares 1,053.9 965.2 955.2
The accompanying Notes to Consolidated Financial Statements are an integral part of these Statements.
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