CDW 2014 Annual Report Download - page 47
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Table of Contents
Year Ended December 31, 2013 Compared to Year Ended December 31, 2012
The following table presents our results of operations, in dollars and as a percentage of net sales, for the years ended December 31,
2013 and 2012:
Net sales
The following table presents our net sales by segment, in dollars and as a percentage of total net sales, and the year-over-
year dollar and
percentage change in net sales for the years ended December 31, 2013 and 2012:
43
Year Ended December 31, 2013
Year Ended December 31, 2012
Dollars in
Millions
Percentage of
Net Sales
Dollars in
Millions
Percentage of
Net Sales
Net sales
$
10,768.6
100.0
%
$
10,128.2
100.0
%
Cost of sales
9,008.3
83.7
8,458.6
83.5
Gross profit
1,760.3
16.3
1,669.6
16.5
Selling and administrative expenses
1,120.9
10.4
1,029.5
10.2
Advertising expense
130.8
1.2
129.5
1.3
Income from operations
508.6
4.7
510.6
5.0
Interest expense, net
(250.1
)
(2.3
)
(307.4
)
(3.0
)
Net loss on extinguishments of long-term debt
(64.0
)
(0.6
)
(17.2
)
(0.2
)
Other income, net
1.0
—
0.1
—
Income before income taxes
195.5
1.8
186.1
1.8
Income tax expense
(62.7
)
(0.6
)
(67.1
)
(0.7
)
Net income
$
132.8
1.2
%
$
119.0
1.1
%
Years Ended December 31,
2013
2012
Dollars in
Millions
Percentage of
Total Net Sales
Dollars in
Millions
Percentage of
Total Net Sales
Dollar Change
Percent
Change (1)
Corporate
$
5,960.1
55.3
%
$
5,512.8
54.4
%
$
447.3
8.1
%
Public
4,164.5
38.7
4,023.0
39.7
141.5
3.5
Other
644.0
6.0
592.4
5.9
51.6
8.7
Total net sales
$
10,768.6
100.0
%
$
10,128.2
100.0
%
$
640.4
6.3
%
(1)
There were 254 selling days in both the years ended December 31, 2013 and 2012.