Home Depot 2009 Annual Report Download - page 38

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THE HOME DEPOT, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
Fiscal Year Ended(1)
amounts in millions, except per share data
January 31,
2010 February 1,
2009 February 3,
2008
NET SALES $66,176 $71,288 $77,349
Cost of Sales 43,764 47,298 51,352
GROSS PROFIT 22,412 23,990 25,997
Operating Expenses:
Selling, General and Administrative 15,902 17,846 17,053
Depreciation and Amortization 1,707 1,785 1,702
Total Operating Expenses 17,609 19,631 18,755
OPERATING INCOME 4,803 4,359 7,242
Interest and Other (Income) Expense:
Interest and Investment Income (18) (18) (74)
Interest Expense 676 624 696
Other 163 163 —
Interest and Other, net 821 769 622
EARNINGS FROM CONTINUING OPERATIONS BEFORE PROVISION
FOR INCOME TAXES 3,982 3,590 6,620
Provision for Income Taxes 1,362 1,278 2,410
EARNINGS FROM CONTINUING OPERATIONS 2,620 2,312 4,210
EARNINGS (LOSS) FROM DISCONTINUED OPERATIONS,
NET OF TAX 41 (52) 185
NET EARNINGS $ 2,661 $ 2,260 $ 4,395
Weighted Average Common Shares 1,683 1,682 1,849
BASIC EARNINGS PER SHARE FROM CONTINUING OPERATIONS $ 1.56 $ 1.37 $ 2.28
BASIC EARNINGS (LOSS) PER SHARE FROM DISCONTINUED
OPERATIONS $ 0.02 $ (0.03) $ 0.10
BASIC EARNINGS PER SHARE $ 1.58 $ 1.34 $ 2.38
Diluted Weighted Average Common Shares 1,692 1,686 1,856
DILUTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS $ 1.55 $ 1.37 $ 2.27
DILUTED EARNINGS (LOSS) PER SHARE FROM DISCONTINUED
OPERATIONS $ 0.02 $ (0.03) $ 0.10
DILUTED EARNINGS PER SHARE $ 1.57 $ 1.34 $ 2.37
(1) Fiscal years ended January 31, 2010 and February 1, 2009 include 52 weeks. Fiscal year ended February 3, 2008
includes 53 weeks.
See accompanying Notes to Consolidated Financial Statements.
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