AutoZone 2010 Annual Report Download - page 128
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Consolidated Statements of Income
(in thousands, except per share data)
August 28,
2010
(52 weeks)
August 29,
2009
(52 weeks)
August 30,
2008
(53 weeks)
Year Ended
Net sales ................................................................................................. $7,362,618 $6,816,824 $6,522,706
Cost of sales, including warehouse and delivery expenses .................. 3,650,874 3,400,375 3,254,645
Gross profit ............................................................................................ 3,711,744 3,416,449 3,268,061
Operating, selling, general and administrative expenses...................... 2,392,330 2,240,387 2,143,927
Operating profit ..................................................................................... 1,319,414 1,176,062 1,124,134
Interest expense, net .............................................................................. 158,909 142,316 116,745
Income before income taxes.................................................................. 1,160,505 1,033,746 1,007,389
Income tax expense ............................................................................... 422,194 376,697 365,783
Net income ............................................................................................. $ 738,311 $ 657,049 $ 641,606
Weighted average shares for basic earnings per share ......................... 48,488 55,282 63,295
Effect of dilutive stock equivalents....................................................... 816 710 580
Adjusted weighted average shares for diluted earnings per share ....... 49,304 55,992 63,875
Basic earnings per share ........................................................................ $ 15.23 $ 11.89 $ 10.14
Diluted earnings per share..................................................................... $ 14.97 $ 11.73 $ 10.04
See Notes to Consolidated Financial Statements.
38
10-K