Foot Locker 2003 Annual Report Download - page 34

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CONSOLIDATED STATEMENTS OF OPERATIONS
2003 2002 2001
(in millions, except per
share amounts)
Sales ..................................................................... $4,779 $4,509 $4,379
Costs and expenses
Cost of sales ............................................................. 3,302 3,165 3,071
Selling, general and administrative expenses ............................. 987 928 923
Depreciation and amortization ........................................... 147 149 154
Restructuring charges (income) .......................................... 1 (2) 34
Interest expense, net .................................................... 18 26 24
4,455 4,266 4,206
Other income ............................................................. — (3) (2)
4,455 4,263 4,204
Income from continuing operations before income taxes ................. 324 246 175
Income tax expense ...................................................... 115 84 64
Income from continuing operations .................................... 209 162 111
Loss on disposal of discontinued operations, net of income
tax benefit of $4, $2, and $—, respectively ........................... (1) (9) (19)
Cumulative effect of accounting change, net of income
tax benefit of $— ..................................................... (1) — —
Net income .............................................................. $ 207 $ 153 $ 92
Basic earnings per share:
Income from continuing operations .................................... $ 1.47 $ 1.15 $ 0.79
Loss from discontinued operations ..................................... (0.01) (0.06) (0.13)
Cumulative effect of accounting change ............................... — — —
Net income ............................................................ $ 1.46 $ 1.09 $ 0.66
Diluted earnings per share:
Income from continuing operations .................................... $ 1.40 $ 1.10 $ 0.77
Loss from discontinued operations ..................................... (0.01) (0.05) (0.13)
Cumulative effect of accounting change ............................... — — —
Net income ............................................................ $ 1.39 $ 1.05 $ 0.64
See Accompanying Notes to Consolidated Financial Statements.
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