Home Depot 2003 Annual Report Download - page 24

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Fiscal Year Ended(1)
February 1,February 2, February 3,
amounts in millions, except per share data 2004 2003 2002
NET SALES $64,816 $58,247 $53,553
Cost of Merchandise Sold 44,236 40,139 37,406
GROSS PROFIT 20,580 18,108 16,147
Operating Expenses:
Selling and Store Operating 12,502 11,180 10,163
Pre-Opening 86 96 117
General and Administrative 1,146 1,002 935
Total Operating Expenses 13,734 12,278 11,215
OPERATING INCOME 6,846 5,830 4,932
Interest Income (Expense):
Interest and Investment Income 59 79 53
Interest Expense (62) (37) (28)
Interest, net (3) 42 25
EARNINGS BEFORE PROVISION FOR INCOME TAXES 6,843 5,872 4,957
Provision for Income Taxes 2,539 2,208 1,913
NET EARNINGS $ 4,304 $ 3,664 $ 3,044
Weighted Average Common Shares 2,283 2,336 2,335
BASIC EARNINGS PER SHARE $ 1.88 $ 1.57 $ 1.30
Diluted Weighted Average Common Shares 2,289 2,344 2,353
DILUTED EARNINGS PER SHARE $ 1.88 $ 1.56 $ 1.29
(1) Fiscal years ended February 1, 2004 and February 2, 2003 include 52 weeks. Fiscal year ended February 3, 2002 includes 53 weeks.
See accompanying Notes to Consolidated Financial Statements.
Consolidated Statements of Earnings
The Home Depot, Inc. and Subsidiaries
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