Foot Locker 2006 Annual Report Download - page 42
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26
CONSOLIDATED STATEMENTS OF OPERATIONS
2006 2005 2004
(in millions, except per share amounts)
Sales .................................................... $5,750 $5,653 $5,355
Costs and expenses
Cost of sales ............................................... 4,014 3,944 3,722
Selling, general and administrative expenses ...................... 1,163 1,129 1,090
Depreciation and amortization ................................. 175 171 154
Impairment charge .......................................... 17 — —
Interest expense, net ........................................ 3 10 15
5,372 5,254 4,981
Other income .............................................. (14) (6) —
5,358 5,248 4,981
Income from continuing operations before income taxes ............. 392 405 374
Income tax expense ......................................... 145 142 119
Income from continuing operations ............................. 247 263 255
Income on disposal of discontinued operations,
net of income tax benefit of $1, $3, and $37, respectively ........... 3 1 38
Cumulative effect of accounting change,
net of income tax benefit of $ — ............................. 1 — —
Net income ................................................ $ 251 $ 264 $ 293
Basic earnings per share:
Income from continuing operations ........................... $ 1.59 $ 1.70 $ 1.69
Income from discontinued operations ......................... 0.02 0.01 0.25
Cumulative effect of accounting change ....................... 0.01 — —
Net income ............................................. $ 1.62 $ 1.71 $ 1.94
Diluted earnings per share:
Income from continuing operations ........................... $ 1.58 $ 1.67 $ 1.64
Income from discontinued operations ......................... 0.02 0.01 0.24
Cumulative effect of accounting change ....................... — — —
Net income ............................................. $ 1.60 $ 1.68 $ 1.88
See Accompanying Notes to Consolidated Financial Statements.