Home Depot 2007 Annual Report Download - page 49

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THE HOME DEPOT, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
(1)
Fiscal Year Ended
(1)
amounts in millions, except per share data
February 3,
2008
January 28,
2007
January 29,
2006
NET SALES
$
77,349
$
79,022
$
77,019
Cost of Sales
51,352
52,476
51,081
GROSS PROFIT
25,997
26,546
25,938
Operating Expenses:
Selling, General and Administrative
17,053
16,106
15,480
Depreciation and Amortization
1,702
1,574
1,411
Total Operating Expenses
18,755
17,680
16,891
OPERATING INCOME
7,242
8,866
9,047
Interest (Income) Expense:
Interest and Investment Income
(74
)
(27
)
(62
)
Interest Expense
696
391
142
Interest, net
622
364
80
EARNINGS FROM CONTINUING OPERATIONS
BEFORE PROVISION FOR INCOME TAXES
6,620
8,502
8,967
Provision for Income Taxes
2,410
3,236
3,326
EARNINGS FROM CONTINUING OPERATIONS
4,210
5,266
5,641
EARNINGS FROM DISCONTINUED OPERATIONS,
NET OF TAX
185
495
197
NET EARNINGS
$
4,395
$
5,761
$
5,838
Weighted Average Common Shares
1,849
2,054
2,138
BASIC EARNINGS PER SHARE FROM CONTINUING
OPERATIONS
$
2.28
$
2.56
$
2.64
BASIC EARNINGS PER SHARE FROM DISCONTINUED
OPERATIONS
$
0.10
$
0.24
$
0.09
BASIC EARNINGS PER SHARE
$
2.38
$
2.80
$
2.73
Diluted Weighted Average Common Shares
1,856
2,062
2,147
DILUTED EARNINGS PER SHARE FROM CONTINUING
OPERATIONS
$
2.27
$
2.55
$
2.63
DILUTED EARNINGS PER SHARE FROM
DISCONTINUED OPERATIONS
$
0.10
$
0.24
$
0.09
DILUTED EARNINGS PER SHARE
$
2.37
$
2.79
$
2.72
Fiscal year ended February 3, 2008 includes 53 weeks. Fiscal years ended January 28, 2007 and January 29, 2006 include 52 weeks.
See accompanying Notes to Consolidated Financial Statements.
34