Foot Locker 2005 Annual Report Download - page 40
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CONSOLIDATED STATEMENTS OF OPERATIONS
2005 2004 2003
(in millions, except per
share amounts)
Sales ..................................................................... $5,653 $5,355 $4,779
Costs and expenses
Cost of sales .............................................................. 3,944 3,722 3,297
Selling, general and administrative expenses ............................. 1,129 1,088 987
Depreciation and amortization ............................................ 171 154 152
Restructuring charges..................................................... — 2 1
Interest expense, net ..................................................... 10 15 18
5,254 4,981 4,455
Other income ............................................................. (6) — —
5,248 4,981 4,455
Income from continuing operations before income taxes.................. 405 374 324
Income tax expense....................................................... 142 119 115
Income from continuing operations .................................... 263 255 209
Income (loss) on disposal of discontinued operations,
net of income tax benefit of $3, $37, and $4, respectively ............. 1 38 (1)
Cumulative effect of accounting change,
net of income tax benefit of $ — ...................................... — — (1)
Net income .............................................................. $ 264 $ 293 $ 207
Basic earnings per share:
Income from continuing operations .................................... $ 1.70 $ 1.69 $ 1.47
Income (loss) from discontinued operations............................ 0.01 0.25 (0.01)
Cumulative effect of accounting change ................................ — — —
Net income............................................................. $ 1.71 $ 1.94 $ 1.46
Diluted earnings per share:
Income from continuing operations .................................... $ 1.67 $ 1.64 $ 1.40
Income (loss) from discontinued operations............................ 0.01 0.24 (0.01)
Cumulative effect of accounting change ................................ — — —
Net income............................................................. $ 1.68 $ 1.88 $ 1.39
See Accompanying Notes to Consolidated Financial Statements.
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