CVS 2005 Annual Report Download - page 28

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26
CONSOLIDATED STATEMENTS OF OPERATIONS
CVS CORPORATION 2005 ANNUAL REPORT
fiscal year ended fiscal year ended fiscal year ended
In millions, except per share amounts Dec. 31, 2005 (52 weeks) Jan. 1, 2005 (52 weeks) Jan. 3, 2004 (53 weeks)
Net sales $ 37,006.2 $ 30,594.3 $ 26,588.0
Cost of goods sold, buying and warehousing costs 27,105.0 22,563.1 19,725.0
Gross margin 9,901.2 8,031.2 6,863.0
Selling, general and administrative expenses 7,292.6 6,079.7 5,097.7
Depreciation and amortization 589.1 496.8 341.7
Total operating expenses 7,881.7 6,576.5 5,439.4
Operating profit 2,019.5 1,454.7 1,423.6
Interest expense, net 110.5 58.3 48.1
Earnings before income tax provision 1,909.0 1,396.4 1,375.5
Income tax provision 684.3 477.6 528.2
Net earnings 1,224.7 918.8 847.3
Preference dividends, net of income tax benefit 14.1 14.2 14.6
Net earnings available to common shareholders $1,210.6 $904.6 $832.7
Basic earnings per common share:
Net earnings $1.49 $ 1.13 $ 1.06
Weighted average common shares outstanding 811.4 797.2 788.8
Diluted earnings per common share:
Net earnings $1.45 $ 1.10 $ 1.03
Weighted average common shares outstanding 841.6 830.8 815.4
Dividends declared per common share $0.1450 $0.1325 $0.1150
See accompanying notes to consolidated financial statements.