Home Depot 2003 Annual Report Download - page 40

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38
10-Year
Compound Annual
amounts in millions, except where noted Growth Rate 2003
STATEMENT OF EARNINGS DATA
Net sales 21.5% $64,816
Net sales increase (%) –11.3
Earnings before provision for income taxes 25.0 6,843
Net earnings 25.1 4,304
Net earnings increase (%) –17.5
Diluted earnings per share ($)(2)23.9 1.88
Diluted earnings per share increase (%) –20.5
Diluted weighted average number of common shares 0.7 2,289
Gross margin – % of sales –31.8
Selling and store operating expense – % of sales –19.3
Pre-opening expense – % of sales –0.1
General and administrative expense – % of sales –1.8
Net interest income (expense) – % of sales ––
Earnings before provision for income taxes – % of sales –10.6
Net earnings – % of sales –6.6
BALANCE SHEET DATA AND FINANCIAL RATIOS
Total assets 22.0% $34,437
Working capital 14.3 3,774
Merchandise inventories 21.5 9,076
Net property and equipment 23.8 20,063
Long-term debt (0.2) 856
Stockholders’ equity 23.1 22,407
Book value per share ($) 21.7 9.93
Total debt-to-equity (%) –6.1
Current ratio –1.40:1
Inventory turnover –5.0x
Return on invested capital (%) –20.4
STATEMENT OF CASH FLOWS DATA
Depreciation and amortization 28.2% $ 1,076
Capital expenditures(3)14.6 3,508
Cash dividends per share ($) 29.2 0.26
STORE DATA(4)
Number of stores 20.5% 1,707
Square footage at fiscal year-end 21.5 183
Increase in square footage (%) –10.2
Average square footage per store (in thousands) 0.7 107
STORE SALES AND OTHER DATA
Comparable store sales increase (%)(5) (6) (7)–3.8
Weighted average weekly sales per operating store (in thousands)(4)0.0% $ 763
Weighted average sales per square foot ($)(4) (5) (0.7) 371
Number of customer transactions(4)18.1 1,246
Average ticket ($)(4)2.7 51.15
Number of associates at fiscal year-end 19.4 298,800
(1) Fiscal years 2001 and 1996 include 53 weeks; all other fiscal years reported include 52 weeks.
(2) Diluted earnings per share for fiscal 1997, excluding a $104 million non-recurring charge, were $0.55.
(3) Excludes payments for businesses acquired (net, in millions) for fiscal years 2003 ($215), 2002 ($235), 2001 ($190), 2000 ($26), 1999 ($101), 1998 ($6) and 1997 ($61).
(4) Excludes all subsidiaries operating under The Home Depot Supply brand (Apex Supply Company, Maintenance Warehouse, Your “other” Warehouse and
HD Builder Solutions Group) since their inclusion may cause distortion of the data presented due to operational differences from the Company’s retail stores. The
total number of the excluded locations and their total square footage are immaterial to the Company’s total number of locations and total square footage.
10-Year Summary of Financial and Operating Results
The Home Depot, Inc. and Subsidiaries