Office Depot 2000 Annual Report Download - page 15

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13
Financial Highlights
Office Depot, Inc. and Subsidiaries
Statements of Earnings Data:
(In thousands, except per share amounts and statistical data) 2000 1999 1998 1997 1996
Sales(1) $11,569,696 $10,272,060 $9,007,051 $8,108,714 $7,259,206
Cost of goods sold and occupancy costs 8,479,698 7,450,310 6,484,464 5,963,521 5,395,223
Gross profit 3,089,998 2,821,750 2,522,587 2,145,193 1,863,983
Store and warehouse operating and selling expenses(1) 2,361,301 1,969,817 1,651,355 1,451,587 1,288,382
Pre-opening expenses 13,465 23,628 17,150 6,609 9,827
General and administrative expenses 501,700 381,611 330,194 272,022 222,714
Merger and restructuring costs (6,732) (7,104) 119,129 16,094 —
Facility closure and relocation costs 110,038 40,425 — — —
Operating profit 110,226 413,373 404,759 398,881 343,060
Interest income 11,502 30,176 25,309 7,570 3,726
Interest expense (33,901) (26,148) (22,356) (21,680) (26,378)
Miscellaneous income (expense), net 4,632 (3,514) (18,985) (13,180) (8,325)
Earnings before income taxes 92,459 413,887 388,727 371,591 312,083
Income taxes 43,127 156,249 155,531 136,730 115,865
Net earnings $ 49,332 $ 257,638 $ 233,196 $ 234,861 $ 196,218
Earnings per share(2):
Basic $ .16 $ .71 $ .64 $ .65 $ .55
Diluted .16 .69 .61 .62 .53
Statistical Data:
Facilities open at end of period:
United States and Canada:
Office supply stores 888 825 702 602 561
Customer service centers 25 30 30 33 32
Call centers 77886
International(3):
Office supply stores 132 118 87 39 21
Customer service centers 17 17 17 16 12
Call centers 14 14 13 12 8
Balance Sheet Data:
Working capital $ 790,752 $ 687,007 $1,293,370 $1,093,463 $ 860,280
Total assets 4,196,334 4,276,183 4,025,283 3,498,891 3,186,630
Long-term debt, excluding current maturities 598,499 321,099 470,711 447,020 416,757
Common stockholders’ equity 1,601,251 1,907,720 2,028,879 1,717,638 1,469,110
(1) We have reclassified certain amounts in our prior year financial statements to conform to our current year presentation.
(2) Earnings per share previously reported for 1996 through 1998 have been restated to reflect the three-for-two stock split declared on February 24, 1999.
(3) Includes facilities in our International Division that we wholly own or lease, as well as those that we operate through licensing and joint venture
agreements.