Ross 2014 Annual Report Download - page 26

Download and view the complete annual report

Please find page 26 of the 2014 Ross annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 80

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80

ITEM 6. SELECTED FINANCIAL DATA
The following selected financial data is derived from our consolidated financial statements. The data set forth below should be
read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” the section
“Forward-Looking Statements” in this Annual Report on Form 10-K and our consolidated financial statements and notes thereto.
($000, except per share data) 2014 2013 20121 2011 2010
Operations
Sales $ 11,041,677 $ 10,230,353 $ 9,721,065 $ 8,608,291 $ 7,866,100
Cost of goods sold 7,937,956 7,360,924 7,011,428 6,240,760 5,729,735
Percent of sales
71.9% 72.0% 72.1% 72.5% 72.8%
Selling, general and administrative 1,615,371 1,526,366 1,437,886 1,304,065 1,229,775
Percent of sales
14.6% 14.9% 14.8% 15.2% 15.6%
Interest expense (income), net 2,984 (247) 6,907 10,322 9,569
Earnings before taxes 1,485,366 1,343,310 1,264,844 1,053,144 897,021
Percent of sales
13.5% 13.1% 13.0% 12.2% 11.4%
Provision for taxes on earnings 560,642 506,006 478,081 395,974 342,224
Net earnings 924,724 837,304 786,763 657,170 554,797
Percent of sales
8.4% 8.2% 8.1% 7.6% 7.1%
Basic earnings per share² $ 4.47 $ 3.93 $ 3.59 $ 2.91 $ 2.35
Diluted earnings per share² $ 4.42 $ 3.88 $ 3.53 $ 2.86 $ 2.31
Cash dividends declared
per common share² $ 0.80 $ 0.513 $ 0.59 $ 0.47 $ 0.35
¹ Fiscal 2012 was a 53-week year; all other fiscal years presented were 52 weeks.
² All per share amounts have been adjusted for the two-for-one stock split effective December 15, 2011.
³ Dividend declaration of $0.20 per share for the fourth quarter which historically had been declared in January was declared in February 2014.
24