TJ Maxx 1999 Annual Report Download - page 2

T h e T J X C o m p a n i e s , I n c .
C O N S O L I D A T E D S T A T E M E N T S O F I N C O M E
Fi scal Ye a r E n d e d
Ja n u a ry 2 9 , Ja n u a ry 3 0, Ja nu a ry 3 1 ,
Do ll a rs I n Th ou s a n d s E x cep t Pe r S hare A m o u n t s 2 0 0 0 1 9 9 9 1 9 9 8
(5 3 w e e k s )
Net sales $8,795,347 $7,949,101 $7,389,069
Cost of sales, including buying and occupancy costs 6,579,400 5,957,415 5,676,541
Selling, general and administrative expenses 1,354,665 1,285,988 1,185,755
Interest expense, net 7,345 1,686 4,502
Income from continuing operations before income taxes,
extraordinary item and cumulative effect of accounting change 853,937 704,012 522,271
Provision for income taxes 327,115 270,810 215,679
Income from continuing operations before extraordinary
item and cumulative effect of accounting change 526,822 433,202 306,592
(Loss) from discontinued operations, net of income taxes –(9,048) –
Income before extraordinary item and cumulative effect
of accounting change 526,822 424,154 306,592
Extraordinary (charge), net of income taxes –– (1,777)
Cumulative effect of accounting change, net of income taxes (5,154) – –
Net income 521,668 424,154 304,815
Preferred stock dividends –3,523 11,668
Net income available to common shareholders $ 521,668 $ 420,631 $ 293,147
Basic earnings per share:
Income from continuing operations before extraordinary
item and cumulative effect of accounting change $1.67 $1.35 $.92
Net income $1.66 $1.32 $.91
Weighted average common shares — basic 314,577,145 318,073,081 321,474,046
Diluted earnings per share:
Income from continuing operations before extraordinary
item and cumulative effect of accounting change $1.66 $1.29 $.88
Net income $1.64 $1.27 $.87
Weighted average common shares — diluted 317,790,764 334,647,950 349,612,184
Cash dividends declared per share $ .14 $ .12 $.10
The a cco m p a ny in g n o t e s a re an in teg r a l p a rt o f t h e fin a n c ial stat e m e n t s.