Napa Auto Parts 2004 Annual Report Download - page 3

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1
2 Business Segments at a Glance
4 Letter To Our Shareholders
6 Business Narratives
13 Selected Financial Data
14 Segment Data
15 Management’s Discussion and Analysis
21 Report of Management
22 Reports of Independent Registered Public Accountants
23 Consolidated Balance Sheets
24 Consolidated Statements of Income
25 Consolidated Statements of Shareholders’ Equity
26 Consolidated Statements of Cash Flows
27 Notes to Consolidated Financial Statements
39 Board of Directors and Officers
IBC Shareholder Information
Genuine Parts Company, founded in 1928, is a service organization
engaged in the distribution of automotive replacement parts, industrial
replacement parts, office products and electrical/electronic materials.
The Company serves numerous customers from more than 1,900
operations and has approximately 31,200 employees.
Financial Highlights 2004 Increase 2003
Net Sales $9,097,267,000 8% $ 8,449,300,000
Before Cumulative Effect Adjustment:
Income Before Income Taxes 635,919,000 11% 571,743,000
Income Taxes 240,367,000 10% 218,101,000
Net Income 395,552,000 12% 353,642,000
Current Ratio 3.2 —3.5
Shareholders’ Equity 2,544,377,000 10% 2,312,283,000
Return on Shareholders’ Equity
at the Beginning of the Year 17.1% —16.6%
Average Common Shares Outstanding-
Assuming Dilution 175,660,000 —174,480,000
Per Common Share:
Diluted Net Income, Before cumulative effect adjustment $2.25 11% $ 2.03
Diluted Net Income $2.25 18% $ 1.91
Dividends Declared $1.20 2% $ 1.18
* Before cumulative effect of a change in accounting principle in 2003. After cumulative effect adjustment, net income was $334,101,000 in 2003.
*
*
52%
27%
17%
GPC Net Sales
by Segment
4%