Advance Auto Parts 2013 Annual Report Download - page 57

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F-5
ADVANCE AUTO PARTS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
For the Years Ended December 28, 2013, December 29, 2012 and December 31, 2011
(in thousands, except per share data)
Fiscal Years
2013 2012 2011
Net sales $ 6,493,814 $ 6,205,003 $ 6,170,462
Cost of sales, including purchasing and warehousing costs 3,241,668 3,106,967 3,101,172
Gross profit 3,252,146 3,098,036 3,069,290
Selling, general and administrative expenses 2,591,828 2,440,721 2,404,648
Operating income 660,318 657,315 664,642
Other, net:
Interest expense (36,618)(33,841)(30,949)
Other income (expense), net 2,698 600 (457)
Total other, net (33,920)(33,241)(31,406)
Income before provision for income taxes 626,398 624,074 633,236
Provision for income taxes 234,640 236,404 238,554
Net income $ 391,758 $ 387,670 $ 394,682
Basic earnings per share $ 5.36 $ 5.29 $ 5.21
Diluted earnings per share $ 5.32 $ 5.22 $ 5.11
Dividends declared per common share $ 0.24 $ 0.24 $ 0.24
Weighted average common shares outstanding 72,930 73,091 75,620
Weighted average common shares outstanding - assuming dilution 73,414 74,062 77,071
ADVANCE AUTO PARTS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
For the Years Ended December 28, 2013, December 29, 2012 and December 31, 2011
(in thousands, except per share data)
Fiscal Years
2013 2012 2011
Net income $ 391,758 $ 387,670 $ 394,682
Other comprehensive income (loss), net of tax:
Changes in net unrecognized other postretirement benefit costs, net of
$503, $252 and $98 tax (438)(391)(152)
Postretirement benefit plan amendment, net of $904, $0 and $0 tax 1,454 — —
Unrealized gain (loss) on hedge arrangements, net of $0, $163 and $163
tax — 254 (254)
Amortization of unrecognized losses on interest rate swaps, net of $0,
$0 and $3,644 tax — — 4,807
Total other comprehensive income (loss) 1,016 (137) 4,401
Comprehensive income $ 392,774 $ 387,533 $ 399,083
The accompanying notes to the consolidated financial statements
are an integral part of these statements.