Home Depot 2002 Annual Report Download - page 30

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CONSOLIDATED STATEMENTS OF EARNINGS
THE HOME DEPOT, INC. AND SUBSIDIARIES
28 THE HOME DEPOT, INC. 2002 ANNUAL REPORT
Fiscal Year Ended(1)
February 2, February 3, January 28,
amounts in millions, except per share data 2003 2002 2001
NET SALES $58,247 $53,553 $45,738
Cost of Merchandise Sold 40,139 37,406 32,057
GROSS PROFIT 18,108 16,147 13,681
Operating Expenses:
Selling and Store Operating 11,180 10,163 8,513
Pre-Opening 96 117 142
General and Administrative 1,002 935 835
Total Operating Expenses 12,278 11,215 9,490
OPERATING INCOME 5,830 4,932 4,191
Interest Income (Expense):
Interest and Investment Income 79 53 47
Interest Expense (37) (28) (21)
Interest, net 42 25 26
EARNINGS BEFORE PROVISION FOR INCOME TAXES 5,872 4,957 4,217
Provision for Income Taxes 2,208 1,913 1,636
NET EARNINGS $ 3,664 $ 3,044 $ 2,581
Weighted Average Common Shares 2,336 2,335 2,315
BASIC EARNINGS PER SHARE $ 1.57 $ 1.30 $ 1.11
Diluted Weighted Average Common Shares 2,344 2,353 2,352
DILUTED EARNINGS PER SHARE $ 1.56 $ 1.29 $ 1.10
(1) Fiscal years ended February 2, 2003 and January 28, 2001 include 52 weeks. Fiscal year ended February 3, 2002 includes 53 weeks.
See accompanying notes to consolidated financial statements.