Henry Schein 2014 Annual Report Download - page 48

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34
ITEM 6. Selected Financial Data
The following selected financial data, with respect to our financial position and results of operations for each of
the five fiscal years in the period ended December 27, 2014, set forth below, has been derived from, should be read
in conjunction with and is qualified in its entirety by reference to, our consolidated financial statements and notes
thereto. The selected financial data presented below should also be read in conjunction with ITEM 7,
“Management’ s Discussion and Analysis of Financial Condition and Results of Operations” and ITEM 8,
“Financial Statements and Supplementary Data.”
 Years ended
December 27, December 28, December 29, December 31,December 25,
2014 2013 2012 2011 2010
(in thousands, except per share data)
Income Statement Data:
N
et sales ......................................................................... $ 10,371,390 $9,560,647 $8,939,967 $ 8,530,242 $7,526,790
Gross profit ..................................................................... 2,911,315 2,656,014 2,507,513 2,418,055 2,170,876
Selling, general and administrative expenses ................ 2,196,173 1,978,960 1,873,360 1,835,906 1,637,460
Restructuring costs (1) ................................................... - - 15,192 - 12,285
Operating income ........................................................... 715,142 677,054 618,961 582,149 521,131
Other expense, net (2) .................................................... (5,830) (12,360) (14,773) (12,842) (19,096)
Income before taxes and equity in earnings
of affiliates ................................................................ 709,312 664,694 604,188 569,307 502,035
Income taxes (3) ............................................................. (215,610) (190,891) (187,858) (180,212) (160,069)
Equity in earnings of affiliates ....................................... 11,734 10,194 7,058 15,561 10,165
Loss on sale of equity investment (4) ............................ - (12,535) - - -
N
et income ..................................................................... 505,436 471,462 423,388 404,656 352,131
Less: Net income attributable to
noncontrolling interests (39,359) (39,908) (35,312) (36,995) (26,342)
N
et income attributable to Henry Schein, Inc. .............. $ 466,077 $431,554 $388,076 $ 367,661 $325,789
Earnings per share attributable to
Henry Schein, Inc.:
Basic ............................................................................ $ 5.53 $5.02 $4.44 $ 4.08 $3.62
Diluted ......................................................................... 5.44 4.93 4.32 3.97 3.49
Weighted-average common shares outstanding:
Basic ............................................................................ 84,265 85,926 87,499 90,120 90,097
Diluted ......................................................................... 85,740 87,622 89,823 92,620 93,268