Banana Republic 2005 Annual Report Download - page 15

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52 Weeks Ended 52 Weeks Ended 52 Weeks Ended
January 28, 2006 January 29, 2005 January 31, 2004
Operating Results (in millions)
Net sales $ 16,023 $ 16,267 $ 15,854
Percentage change year-to-year (2%) 3% 10%
Earnings before income taxes $ 1,793 $ 1,872 $ 1,684
Percentage change year-to-year (4%) 11% 110%
Net earnings $ 1,113 $ 1,150 $ 1,031
Percentage change year-to-year (3%) 12% 116%
Cash Flows (in millions)
Net cash provided by operating activities $ 1,551 $ 1,597 $ 2,160
Net cash provided by (used for) investing activities 286 183 (2,318)
Net cash used for financing activities (2,040) (1,796) (636)
Effect of exchange rate fluctuations on cash (7) - 28
Net decrease in cash and equivalents $ (210) $ (16) $ (766)
Net cash provided by operating activities $ 1,551 $ 1,597 $ 2,160
Less: Net purchases of property and equipment (600) (419) (261)
Free cash flow (a) $ 951 $ 1,178 $ 1,899
Per Share Data
Net earnings--diluted $ 1.24 $ 1.21 $ 1.09
Dividends paid 0.18 0.09 0.09
Statistics
Net earnings as a percentage of net sales 6.9% 7.1% 6.5%
Return on average assets 11.8% 11.1% 9.8%
Return on average shareholders’ equity 21.5% 24.0% 25.2%
Current ratio 2.70:1 2.81:1 2.63:1
Number of store locations open at year-end 3,053 2,994 3,022
Comparable store sales increase (decrease) percentage (5%) 0% 7%
(a) Free cash fl ow is a non-GAAP measure. We believe free cash fl ow is an important metric, as it represents a measure of how profi table a company is
on a cash basis after the deduction of capital expenses, as most companies require capital expenditures to build and maintain stores and purchase new
equipment to keep the business growing. We use this metric internally, as we believe our sustained ability to grow this measure is an important driver of
value creation.
key fi nancial statistics
gap inc. 2005 annual report
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