CVS 2002 Annual Report Download - page 24

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Consolidated Statements of Operations
22 CVS Corporation
December 28, December 29, December 30,
In millions, except per share amounts 2002 2001 2000
Net sales $ 24,181.5 $ 22,241.4 $ 20,087.5
Cost of goods sold, buying and warehousing costs 18,112.7 16,550.4 14,725.8
Gross margin 6,068.8 5,691.0 5,361.7
Selling, general and administrative expenses 4,552.3 4,599.6 3,742.4
Depreciation and amortization 310.3 320.8 296.6
Total operating expenses 4,862.6 4,920.4 4,039.0
Operating profit 1,206.2 770.6 1,322.7
Interest expense, net 50.4 61.0 79.3
Earnings before income tax provision 1,155.8 709.6 1,243.4
Income tax provision 439.2 296.4 497.4
Net earnings 716.6 413 . 2 746 . 0
Preference dividends, net of income tax benefit 14 . 8 14 . 7 14 . 6
Net earnings available to common shareholders $701.8$ 398.5 $ 731.4
Basic earnings per common share:
Net earnings $1.79$1.02$1.87
Weighted average common shares outstanding 392.3 392.2 391.0
Diluted earnings per common share:
Net earnings $1.75$1.00$1.83
Weighted average common shares outstanding 405.3 408.3 408.0
Dividends declared per common share $ 0.230 $ 0.230 $ 0.230
See accompanying notes to consolidated financial statements.