Home
| Fiscal Year Ended | ||||||
| In millions, except per share amounts | 2000 |
1998 (52 weeks) |
1997 (52 weeks) |
|||
| Net sales | $18,098.3 | $15,273.6 | $13,749.6 | |||
| Cost of goods sold, buying and warehousing costs | 13,236.9 | 11,144.4 | 10,031.3 | |||
| Gross margin | 4,861.4 | 4,129.2 | 3,718.3 | |||
| Selling, general and administrative expenses | 3,448.0 | 2,949.0 | 2,776.0 | |||
| Depreciation and amortization | 277.9 | 249.7 | 238.2 | |||
| Merger, restructuring and other nonrecurring charges | — | 178.6 | 422.4 | |||
| Total operating expenses | 3,725.9 | 3,377.3 | 3,436.6 | |||
| Operating profit | 1,135.5 | 751.9 | 281.7 | |||
| Interest expense, net | 59.1 | 60.9 | 44.1 | |||
| Earnings from continuing operations before income tax provision and extraordinary item | 1,076.4 | 691.0 | 237.6 | |||
| Income tax provision | 441.3 | 306.5 | 149.2 | |||
| Earnings from continuing operations before extraordinary item | 635.1 | 384.5 | 88.4 | |||
| Discontinued operations: | ||||||
| Gain on disposal, net of income tax provision of $12.4 | — | — | 17.5 | |||
| Earnings from discontinued operations | — | — | 17.5 | |||
| Earnings before extraordinary item | 635.1 | 384.5 | 105.9 | |||
| Extraordinary item, loss related to early retirement of debt, net of income tax benefit of $11.4 | — | — | (17.1) | |||
| Net earnings | 635.1 | 384.5 | 88.8 | |||
| Preference dividends, net of income tax benefit | (14.7) | (13.6) | (13.7) | |||
| Net earnings available to common shareholders | $620.4 | $370.9 | $75.1 | |||
| Basic earnings per common share: | ||||||
| Earnings from continuing operations before extraordinary item | $1.59 | $0.96 | $0.20 | |||
| Earnings from discontinued operations | — | — | 0.05 | |||
| Extraordinary item, net of income tax benefit | — | — | (0.05) | |||
| Net earnings | $1.59 | $0.96 | $0.20 | |||
| Weighted average common shares outstanding | 391.3 | 387.1 | 377.2 | |||
| Diluted earnings per common share: | ||||||
| Earnings from continuing operations before extraordinary item | $1.55 | $0.95 | $0.19 | |||
| Earnings from discontinued operations | — | — | 0.05 | |||
| Extraordinary item, net of income tax benefit | — | — | (0.05) | |||
| Net earnings | $1.55 | $0.95 | $0.19 | |||
| Weighted average common shares outstanding | 408.9 | 405.2 | 385.1 | |||
| Dividends declared per common share | $0.230 | $0.225 | $0.220 | |||
See accompanying notes to consolidated financial statements.