CVS 2000 Annual Report Download - page 24

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Consolidated Statements of Operations
22
CVS Corporation
Fiscal Year Ended
December 30, January 1, December 26,
2000 2000 1998
In millions, except per share amounts (52 weeks) (53 weeks) (52 weeks)
Net sales $20,087.5 $18,098.3 $ 15,273.6
Cost of goods sold, buying and warehousing costs 14,725.8 13,236.9 11,144.4
Gross margin 5,361.7 4,861.4 4,129.2
Selling, general and administrative expenses 3,742.4 3,448.0 2,949.0
Depreciation and amortization 296.6 277.9 249.7
Merger, restructuring and other nonrecurring charges —— 178.6
Total operating expenses 4,039.0 3,725.9 3,377.3
Operating profit 1,322.7 1,135.5 751.9
Interest expense, net 79.3 59.1 60.9
Earnings before income tax provision 1,243.4 1,076.4 691.0
Income tax provision 497.4 441.3 306.5
Net earnings 746.0 635.1 384.5
Preference dividends, net of income tax benefit 14.6 14.7 13.6
Net earnings available to common shareholders $ 731.4 $ 620.4 $ 370.9
Basic earnings per common share:
Net earnings $ 1.87 $ 1.59 $ 0.96
Weighted average common shares outstanding 391.0 391.3 387.1
Diluted earnings per common share:
Net earnings $ 1.83 $ 1.55 $ 0.95
Weighted average common shares outstanding 408.0 408.9 405.2
Dividends declared per common share $ 0.230 $ 0.230 $ 0.225
See accompanying notes to consolidated financial statements.