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FORM 10-k
24
Years ended December 31, 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003
(In thousands, except per
share data)
EARNINGS PER
COMMON SHARE-
ASSUMING DILUTION:
Income before cumulative
effect of accounting change $ 4.75 $ 3.71 $ 2.95 $2.23 $1.48 $1.67 $1.55 $ 1.45 $1.05 $0.92
Cumulative effect of
accounting change (a) - - - - - - - - 0.20 -
Earnings per share –
assuming dilution $ 4.75 $ 3.71 $ 2.95 $2.23 $1.48 $1.67 $1.55 $ 1.45 $1.25 $0.92
Weighted-average common
shares outstanding –
assuming dilution 123,314 136,983 141,992 137,882 125,413 116,080 115,119 113,385 111,423 109,060
PRO FORMA INCOME
STATEMENT DATA: (c)
Sales $ 1,511,816
Cost of goods sold,
including warehouse and
distribution expenses 872,658
Gross profit 639,158
Selling, general and
administrative expenses 473,060
Operating income 166,098
Other income (expense), net (5,233)
Income before income taxes 160,865
Provision for income taxes 60,266
Net income $ 100,599
N
et income per share $ 0.93
N
et income per share –
assuming dilution $ 0.92
(a) The cumulative change in accounting method, effective January 1, 2004, changed the method of applying last-in, first-out accounting policy for certain
inventory costs. Under the new method, included in the value of inventory are certain procurement, warehousing and distribution center costs. The previous
method was to recognize those costs as incurred, reported as a component of costs of goods sold.
(b) Adjusted for a 2-for-1 stock split in 2005.
(c) The pro forma income statement reflects the retroactive application of the cumulative effect of the accounting change to historical periods.