Home Depot 2014 Annual Report Download - page 38

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33
THE HOME DEPOT, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
Fiscal Year Ended(1)
amounts in millions, except per share data February 1,
2015 February 2,
2014 February 3,
2013
NET SALES $ 83,176 $ 78,812 $ 74,754
Cost of Sales 54,222 51,422 48,912
GROSS PROFIT 28,954 27,390 25,842
Operating Expenses:
Selling, General and Administrative 16,834 16,597 16,508
Depreciation and Amortization 1,651 1,627 1,568
Total Operating Expenses 18,485 18,224 18,076
OPERATING INCOME 10,469 9,166 7,766
Interest and Other (Income) Expense:
Interest and Investment Income (337)(12)(20)
Interest Expense 830 711 632
Other ——(67)
Interest and Other, net 493 699 545
EARNINGS BEFORE PROVISION FOR INCOME TAXES 9,976 8,467 7,221
Provision for Income Taxes 3,631 3,082 2,686
NET EARNINGS $ 6,345 $ 5,385 $ 4,535
Weighted Average Common Shares 1,338 1,425 1,499
BASIC EARNINGS PER SHARE $ 4.74 $ 3.78 $ 3.03
Diluted Weighted Average Common Shares 1,346 1,434 1,511
DILUTED EARNINGS PER SHARE $ 4.71 $ 3.76 $ 3.00
—————
(1) Fiscal years ended February 1, 2015 and February 2, 2014 include 52 weeks. Fiscal year ended February 3, 2013
includes 53 weeks.
See accompanying Notes to Consolidated Financial Statements.