Petsmart 2012 Annual Report Download - page 50

F-4
PetSmart, Inc. and Subsidiaries
Consolidated Statements of Income and Comprehensive Income
(In thousands, except per share data)
Year Ended
February 3, 2013 January 29, 2012 January 30, 2011
(53 weeks) (52 weeks) (52 weeks)
Merchandise sales ........................................................................................... $ 5,979,604 $ 5,401,731 $ 5,040,807
Services sales .................................................................................................. 740,471 674,859 618,755
Other revenue.................................................................................................. 38,162 36,714 34,235
Net sales........................................................................................................ 6,758,237 6,113,304 5,693,797
Cost of merchandise sales............................................................................... 4,124,432 3,783,951 3,554,387
Cost of services sales ...................................................................................... 533,504 488,216 450,644
Cost of other revenue...................................................................................... 38,162 36,714 34,235
Total cost of sales.......................................................................................... 4,696,098 4,308,881 4,039,266
Gross profit................................................................................................... 2,062,139 1,804,423 1,654,531
Operating, general and administrative expenses............................................. 1,410,922 1,301,304 1,225,803
Operating income.......................................................................................... 651,217 503,119 428,728
Interest expense, net........................................................................................ (54,329)(56,842)(58,837)
Income before income tax expense and equity income from Banfield ........ 596,888 446,277 369,891
Income tax expense......................................................................................... (223,329)(166,960)(140,396)
Equity income from Banfield.......................................................................... 15,970 10,926 10,372
Net income.................................................................................................... 389,529 290,243 239,867
Other comprehensive income, net of income tax:
Foreign currency translation adjustments..................................................... 36 77 3,011
Other ............................................................................................................. (20) 33 —
Comprehensive income................................................................................... $ 389,545 $ 290,353 $ 242,878
Earnings per common share:
Basic ............................................................................................................. $ 3.61 $ 2.59 $ 2.05
Diluted .......................................................................................................... $ 3.55 $ 2.55 $ 2.01
Weighted average shares outstanding:
Basic ............................................................................................................. 107,819 111,909 116,799
Diluted .......................................................................................................... 109,611 113,993 119,405
The accompanying notes are an integral part of these consolidated financial statements.