Office Depot 2000 Annual Report Download - page 33

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31
Office Depot, Inc. and Subsidiaries
Consolidated Statements of Earnings
(In thousands, except per share amounts)
2000 1999 1998
Sales $11,569,696 $10,272,060 $9,007,051
Cost of goods sold and occupancy costs 8,479,698 7,450,310 6,484,464
Gross profit 3,089,998 2,821,750 2,522,587
Store and warehouse operating and selling expenses 2,361,301 1,969,817 1,651,355
Pre-opening expenses 13,465 23,628 17,150
General and administrative expenses 501,700 381,611 330,194
Merger and restructuring costs (6,732) (7,104) 119,129
Facility closure costs 110,038 40,425 —
Operating profit 110,226 413,373 404,759
Other income (expense):
Interest income 11,502 30,176 25,309
Interest expense (33,901) (26,148) (22,356)
Miscellaneous income (expense), net 4,632 (3,514) (18,985)
Earnings before income taxes 92,459 413,887 388,727
Income taxes 43,127 156,249 155,531
Net earnings $ 49,332 $ 257,638 $ 233,196
Earnings per share:
Basic $ .16 $ .71 $ .64
Diluted .16 .69 .61
The accompanying notes are an integral part of these statements.