Big Lots 2013 Annual Report Download - page 184
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42
BIG LOTS, INC. AND SUBSIDIARIES
(In thousands, except per share amounts)
2013 2012 2011
N
et sales $5,301,912 $ 5,367,165 $5,159,249
Cost of sales (exclusive of depreciation expense shown separately below) 3,236,606 3,254,837 3,096,200
Gross margin 2,065,306 2,112,328 2,063,049
Selling and administrative expenses 1,759,745 1,708,160 1,629,218
Depreciation expense 115,122 106,137 90,135
Operating profit 190,439 298,031 343,696
Interest expense (3,339)(4,192)(3,530)
Other income (expense) (1,213)51 (173)
Income from continuing operations before income taxes 185,887 293,890 339,993
Income tax expense 61,118 116,921 133,835
Income from continuing operations 124,769 176,969 206,158
Income from discontinued operations, net of tax expense of $351, $195 and
$710 in fiscal years 2013, 2012 and 2011, respectively 526 152
906
N
et income $125,295 $ 177,121 $207,064
Earnings per common share - basic
Continuing operations $2.17 $ 2.96 $3.02
Discontinued operations 0.01
—
0.01
$2.18 $ 2.96 $3.03
Earnings per common share - diluted
Continuing operations $2.15 $ 2.93 $2.97
Discontinued operations 0.01
—
0.01
$2.16 $ 2.93 $2.98
The accompanying notes are an integral part of these consolidated financial statements.
Consolidated Statements of Operations