Napa Auto Parts 2006 Annual Report Download - page 15

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Selected Financial Data
(in thousands, except per share data)
Year ended December 31, 2006 2005 2004 2003 2002
Net sales $ 10,457,942 $ 9,783,050 $ 9,097,267 $ 8,449,300 $ 8,258,927
Cost of goods sold 7,182,447 6,718,964 6,267,544 5,826,684 5,704,749
Operating and non-operating expenses, net 2,504,579 2,355,022 2,193,804 2,050,873 1,948,442
Income before taxes and accounting change 770,916 709,064 635,919 571,743 605,736
Income taxes 295,511 271,630 240,367 218,101 238,236
Income before cumulative effect of a change
in accounting principle 475,405 437,434 395,552 353,642 367,500
Cumulative effect of a change
in accounting principle - - - 19,541* 395,090**
Net income (loss) $ 475,405 $ 437,434 $ 395,552 $ 334,101 $ (27,590)
Weighted average common shares
outstanding during year -
assuming dilution 172,486 175,007 175,660 174,480 175,104
Per common share:
Diluted net income, excluding
cumulative effect $ 2.76 $ 2.50 $ 2.25 $ 2.03 $ 2.10
Diluted net income (loss) 2.76 2.50 2.25 1.91 (0.16)
Dividends declared 1.35 1.25 1.20 1.18 1.16
December 31 closing stock price 47.43 43.92 44.06 33.20 30.80
Long-term debt, less current maturities 500,000 500,000 500,000 625,108 674,796
Shareholders’ equity 2,549,991 2,693,957 2,544,377 2,312,283 2,130,009
Total assets $ 4,496,984 $ 4,771,538 $ 4,455,247 $ 4,127,956 $ 4,061,055
* e cumulative effect of a change in accounting principle in 2003 represents a non-cash charge related to cash consideration received from vendors in conjunction
with the Financial Accounting Standards Board’s EITF 02-16. Had the Company accounted for vendor consideration in accordance with EITF 02-16 in prior years,
there would have been no significant impact on net income (loss) and diluted net income (loss) per share for the year ended December 31, 2002. In addition, in
accordance with EITF 02-16, approximately $102 million was reclassified from selling, administrative and other expenses to cost of goods sold for the year ended
December 31, 2003. Had the Company accounted for consideration received from vendors in accordance with EITF 02-16 in prior years, approximately $90 million
would have been reclassified from selling, administrative and other expenses to cost of goods sold for the year ended December 31, 2002.
** e cumulative effect of a change in accounting principle in 2002 represents a non-cash charge related to the impairment testing for goodwill in conjunction with the
Statement of Financial Accounting Standards No. 142 “Goodwill and Other Intangible Assets.”
Market Price and Dividend Information
High and Low Sales Price and Dividends per Common Share Traded on the New York Stock Exchange
Sales Price of Common Shares
Quarter 2006 2005
High Low High Low
First $ 45.74 $ 41.41 $ 44.77 $ 41.65
Second 46.16 40.00 44.50 40.81
ird 43.90 40.09 46.64 40.75
Fourth 48.34 42.60 45.70 41.40
Dividends Declared Per Share
2006 2005
First $ 0.3375 $ 0.3125
Second 0.3375 0.3125
ird 0.3375 0.3125
Fourth 0.3375 0.3125
Number of Record Holders of Common Stock as of December 31, 2006: 6,909
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