Home Depot 2010 Annual Report Download - page 69

Five-Year Summary of Financial and Operating Results
The Home Depot, Inc. and Subsidiaries
amounts in millions, except where noted 2010 2009 2008 2007(1) 2006
STATEMENT OF EARNINGS DATA(2)
Net sales $ 67,997 $ 66,176 $ 71,288 $ 77,349 $ 79,022
Net sales increase (decrease) (%) 2.8 (7.2) (7.8) (2.1) 2.6
Earnings before provision for income taxes 5,273 3,982 3,590 6,620 8,502
Net earnings 3,338 2,620 2,312 4,210 5,266
Net earnings increase (decrease) (%) 27.4 13.3 (45.1) (20.1) (6.6)
Diluted earnings per share ($) 2.01 1.55 1.37 2.27 2.55
Diluted earnings per share increase (decrease) (%) 29.7 13.1 (39.6) (11.0) (3.0)
Diluted weighted average number of common shares 1,658 1,692 1,686 1,856 2,062
Gross margin – % of sales 34.3 33.9 33.7 33.6 33.6
Total operating expenses – % of sales 25.7 26.6 27.5 24.3 22.4
Interest and other, net – % of sales 0.8 1.2 1.1 0.8 0.5
Earnings before provision for income taxes – % of sales 7.8 6.0 5.0 8.6 10.8
Net earnings – % of sales 4.9 4.0 3.2 5.4 6.7
BALANCE SHEET DATA AND FINANCIAL RATIOS(3)
Total assets $ 40,125 $ 40,877 $ 41,164 $ 44,324 $ 52,263
Working capital 3,357 3,537 2,209 1,968 5,069
Merchandise inventories 10,625 10,188 10,673 11,731 12,822
Net property and equipment 25,060 25,550 26,234 27,476 26,605
Long-term debt 8,707 8,662 9,667 11,383 11,643
Stockholders’ equity 18,889 19,393 17,777 17,714 25,030
Book value per share ($) 11.64 11.42 10.48 10.48 12.71
Long-term debt-to-equity (%) 46.1 44.7 54.4 64.3 46.5
Total debt-to-equity (%) 51.6 49.9 64.3 75.8 46.6
Current ratio 1.33:1 1.34:1 1.20:1 1.15:1 1.39:1
Inventory turnover(2) 4.1x 4.1x 4.0x 4.2x 4.5x
Return on invested capital (%)(2) 12.8 10.7 9.5 13.9 16.8
STATEMENT OF CASH FLOWS DATA
Depreciation and amortization $ 1,718 $ 1,806 $ 1,902 $ 1,906 $ 1,886
Capital expenditures 1,096 966 1,847 3,558 3,542
Payments for businesses acquired, net —— — 13 4,268
Cash dividends per share ($) 0.945 0.900 0.900 0.900 0.675
STORE DATA
Number of stores 2,248 2,244 2,274 2,234 2,147
Square footage at fiscal year-end 235 235 238 235 224
Increase (decrease) in square footage (%) —(1.3) 1.3 4.9 4.2
Average square footage per store (in thousands) 105 105 105 105 105
STORE SALES AND OTHER DATA
Comparable store sales increase (decrease) (%)(4) 2.9 (6.6) (8.7) (6.7) (2.8)
Weighted average weekly sales per operating store (in thousands) $ 581 $ 563 $ 601 $ 658 $ 723
Weighted average sales per square foot ($) 289 279 298 332 358
Number of customer transactions 1,306 1,274 1,272 1,336 1,330
Average ticket ($) 51.93 51.76 55.61 57.48 58.90
Number of associates at fiscal year-end(3) 321,000 317,000 322,000 331,000 364,400
(1) Fiscal year 2007 includes 53 weeks; all other fiscal years reported include 52 weeks.
(2) Continuing Operations only. See Note 4 to the Consolidated Financial Statements included in Item 8, “Financial
Statements and Supplementary Data.”
(3) Amounts for fiscal years 2010, 2009, 2008 and 2007 include Continuing Operations only. Amounts in fiscal year 2006
include discontinued operations. See Note 4 to the Consolidated Financial Statements included in Item 8, “Financial
Statements and Supplementary Data.”
(4) Includes Net Sales at locations open greater than 12 months, including relocated and remodeled stores. Stores become
comparable on the Monday following their 365th day of operation. Comparable store sales is intended only as
supplemental information and is not a substitute for Net Sales or Net Earnings presented in accordance with generally
accepted accounting principles.
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