Whole Foods 2013 Annual Report Download - page 46

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37
Whole Foods Market, Inc.
Consolidated Statements of Operations
Fiscal years ended September 29, 2013, September 30, 2012 and September 25, 2011
(In millions, except per share amounts)
2013 2012 2011
Sales $ 12,917 $ 11,699 $ 10,108
Cost of goods sold and occupancy costs 8,288 7,543 6,571
Gross profit 4,629 4,156 3,537
Direct store expenses 3,285 2,983 2,629
General and administrative expenses 397 372 311
Pre-opening expenses 52 47 41
Relocation, store closure and lease termination costs 12 10 8
Operating income 883 744 548
Interest expense — — (4)
Investment and other income 11 8 8
Income before income taxes 894 752 552
Provision for income taxes 343 286 209
Net income $ 551 $ 466 $ 343
Basic earnings per share $ 1.48 $ 1.28 $ 0.98
Weighted average shares outstanding 371.2 364.8 350.5
Diluted earnings per share $ 1.47 $ 1.26 $ 0.97
Weighted average shares outstanding, diluted basis 374.5 368.9 354.6
Dividends declared per common share $ 1.40 $ 0.28 $ 0.20
The accompanying notes are an integral part of these consolidated financial statements.