Consolidated Statements of Earnings
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| (In thousands, except per share amounts) |
2002 |
2001 |
2000 |
 |
| Sales |
$ |
11,356,633 |
|
$ |
11,082,112 |
|
$ |
11,495,493 |
|
| Cost of goods sold and occupancy costs |
|
8,022,663 |
|
|
7,940,067 |
|
|
8,435,928 |
|
 |
| Gross profit |
|
3,333,970 |
|
|
3,142,045 |
|
|
3,059,565 |
|
| Store and warehouse operating and selling expenses |
|
2,331,384 |
|
|
2,322,577 |
|
|
2,388,108 |
|
| General and administrative expenses |
|
486,279 |
|
|
445,538 |
|
|
447,693 |
|
| Facility closure costs |
|
6,744 |
|
|
8,436 |
|
|
110,038 |
|
| Other operating expenses |
|
9,855 |
|
|
12,125 |
|
|
6,733 |
|
 |
| Operating profit |
|
499,708 |
|
|
353,369 |
|
|
106,993 |
|
| Other income (expense): |
| Interest income |
|
18,509 |
|
|
12,980 |
|
|
11,345 |
|
| Interest expense |
|
(46,195 |
) |
|
(43,339 |
) |
|
(32,683 |
) |
| Miscellaneous income (expense), net |
|
7,183 |
|
|
(9,057 |
) |
|
4,632 |
|
 |
| Earnings from continuing operations before income taxes |
|
479,205 |
|
|
313,953 |
|
|
90,287 |
|
| Income taxes |
|
167,722 |
|
|
112,296 |
|
|
41,972 |
|
 |
| Earnings from continuing operations |
|
311,483 |
|
|
201,657 |
|
|
48,315 |
|
| Discontinued operations |
|
(775 |
) |
|
(614 |
) |
|
1,017 |
|
 |
| Net earnings |
$ |
310,708 |
|
$ |
201,043 |
|
$ |
49,332 |
|
 |
| Earnings per share from continuing operations: |
| Basic |
$ |
1.02 |
|
$ |
0.68 |
|
$ |
0.16 |
|
| Diluted |
|
0.98 |
|
|
0.66 |
|
|
0.16 |
|
 |
| Net earnings per share: |
| Basic |
$ |
1.01 |
|
$ |
0.67 |
|
$ |
0.16 |
|
| Diluted |
|
0.98 |
|
|
0.66 |
|
|
0.16 |
|
 |
The accompanying notes are an integral part of these statements.
|