filings.toolsItem 6. SELECTED FINANCIAL DATA
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Item 6. SELECTED FINANCIAL DATA
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The following table sets forth selected consolidated financial information of Dollar General Corporation as of the dates and for the periods indicated. The selected historical statement of operations data and statement of cash flows data for the fiscal years ended January 29, 2016, January 30, 2015, and January 31, 2014 and balance sheet data as of January 29, 2016 and January 30, 2015, have been derived from our historical audited consolidated financial statements included elsewhere in this report. The selected historical statement of operations data and statement of cash flows data for the fiscal years ended February 1, 2013 and February 3, 2012 and balance sheet data as of January 31, 2014, February 1, 2013, and February 3, 2012 presented in this table have been derived from audited consolidated financial statements not included in this report.
The information set forth below should be read in conjunction with, and is qualified by reference to, the Consolidated Financial Statements and related notes included in Part II, Item 8 of this report and the Management's Discussion and Analysis of Financial Condition and Results of Operations
included in Part II, Item 7 of this report. Certain financial disclosures relating to prior periods have been reclassified to conform to the current year presentation.
| Year Ended | ||||||||||||||||
| (Amounts in millions, excluding per share data, number of stores, selling square feet, and net sales per square foot) | January 29, 2016 | January 30, 2015 | January 31, 2014 | February 1, 2013 | February 3, 2012(1) | |||||||||||
| Statement of Income Data: | ||||||||||||||||
| Net sales | $ | 20,368.6 | $ | 18,909.6 | $ | 17,504.2 | $ | 16,022.1 | $ | 14,807.2 | ||||||
| Cost of goods sold | 14,062.5 | 13,107.1 | 12,068.4 | 10,936.7 | 10,109.3 | |||||||||||
| | | | | | | | | | | | | | | | | |
| Gross profit | 6,306.1 | 5,802.5 | 5,435.7 | 5,085.4 | 4,697.9 | |||||||||||
| Selling, general and administrative expenses | 4,365.8 | 4,033.4 | 3,699.6 | 3,430.1 | 3,207.1 | |||||||||||
| | | | | | | | | | | | | | | | | |
| Operating profit | 1,940.3 | 1,769.1 | 1,736.2 | 1,655.3 | 1,490.8 | |||||||||||
| Interest expense | 86.9 | 88.2 | 89.0 | 127.9 | 204.9 | |||||||||||
| Other (income) expense | 0.3 | — | 18.9 | 30.0 | 60.6 | |||||||||||
| | | | | | | | | | | | | | | | | |
| Income before income taxes | 1,853.0 | 1,680.9 | 1,628.3 | 1,497.4 | 1,225.3 | |||||||||||
| Income tax expense | 687.9 | 615.5 | 603.2 | 544.7 | 458.6 | |||||||||||
| | | | | | | | | | | | | | | | | |
| Net income | $ | 1,165.1 | $ | 1,065.3 | $ | 1,025.1 | $ | 952.7 | $ | 766.7 | ||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Earnings per share—basic | $ | 3.96 | $ | 3.50 | $ | 3.17 | $ | 2.87 | $ | 2.25 | ||||||
| Earnings per share—diluted | 3.95 | 3.49 | 3.17 | 2.85 | 2.22 | |||||||||||
| Dividends per share | 0.88 | — | — | — | — | |||||||||||
| Statement of Cash Flows Data: | ||||||||||||||||
| Net cash provided by (used in): | ||||||||||||||||
| Operating activities | $ | 1,378.0 | $ | 1,314.7 | $ | 1,213.1 | $ | 1,131.4 | $ | 1,050.5 | ||||||
| Investing activities | (503.4 | ) | (371.7 | ) | (250.0 | ) | (569.8 | ) | (513.8 | ) | ||||||
| Financing activities | (1,296.5 | ) | (868.8 | ) | (598.3 | ) | (546.8 | ) | (908.0 | ) | ||||||
| Total capital expenditures | (504.8 | ) | (374.0 | ) | (538.4 | ) | (571.6 | ) | (514.9 | ) | ||||||
| Other Financial and Operating Data: | ||||||||||||||||
| Same store sales growth(2) | 2.8 | % | 2.8 | % | 3.3 | % | 4.7 | % | 6.0 | % | ||||||
| Same store sales(2) | $ | 19,254.3 | $ | 17,818.7 | $ | 16,365.5 | $ | 14,992.7 | $ | 13,626.7 | ||||||
| Number of stores included in same store sales calculation | 11,706 | 11,052 | 10,387 | 9,783 | 9,254 | |||||||||||
| Number of stores (at period end) | 12,483 | 11,789 | 11,132 | 10,506 | 9,937 | |||||||||||
| Selling square feet (in thousands at period end) | 92,477 | 87,205 | 82,012 | 76,909 | 71,774 | |||||||||||
| Net sales per square foot(3) | $ | 226 | $ | 223 | $ | 220 | $ | 216 | $ | 213 | ||||||
| Consumables sales | 75.9 | % | 75.7 | % | 75.2 | % | 73.9 | % | 73.2 | % | ||||||
| Seasonal sales | 12.4 | % | 12.4 | % | 12.9 | % | 13.6 | % | 13.8 | % | ||||||
| Home products sales | 6.3 | % | 6.4 | % | 6.4 | % | 6.6 | % | 6.8 | % | ||||||
| Apparel sales | 5.4 | % | 5.5 | % | 5.5 | % | 5.9 | % | 6.2 | % | ||||||
| Rent expense | $ | 856.9 | $ | 785.2 | $ | 686.9 | $ | 614.3 | $ | 542.3 | ||||||
| Balance Sheet Data (at period end): | ||||||||||||||||
| Cash and cash equivalents and short-term investments | $ | 157.9 | $ | 579.8 | $ | 505.6 | $ | 140.8 | $ | 126.1 | ||||||
| Total assets | 11,251.0 | 11,208.6 | 10,848.2 | 10,340.8 | 9,663.6 | |||||||||||
| Long-term debt(4) | 2,970.6 | 2,725.1 | 2,799.5 | 2,745.3 | 2,593.6 | |||||||||||
| Total shareholders' equity | 5,377.9 | 5,710.0 | 5,402.2 | 4,985.3 | 4,674.6 |
(1)
The fiscal year ended February 3, 2012 was comprised of 53 weeks.
(2)
Same-store sales are calculated based upon stores that were open at least 13 full fiscal months and remain open at the end of the reporting period. We include stores that have been remodeled, expanded or relocated in our same-store sales calculation. When applicable, we exclude the sales in the non-comparable week of a 53-week year from the same-store sales calculation.
(3)
Net sales per square foot was calculated based on total sales for the preceding 12 months as of the ending date of the reporting period divided by the average selling square footage during the period, including the end of the fiscal year, the beginning of the fiscal year, and the end of each of our three interim fiscal quarters.
(4)
Debt issuance costs are reflected as a deduction from the corresponding debt liability for all periods presented.
| Year Ended | ||||||||||||||||
| January 29, 2016 | January 30, 2015 | January 31, 2014 | February 1, 2013 | February 3, 2012 | ||||||||||||
| Ratio of earnings to fixed charges(1): | 4.5x | 4.4x | 4.7x | 4.7x | 3.8x |
(1)
For purposes of computing the ratio of earnings to fixed charges, (a) earnings consist of income (loss) before income taxes, plus fixed charges less capitalized expenses related to indebtedness (amortization expense for capitalized interest is not significant) and (b) fixed charges consist of interest expense (whether expensed or capitalized), the amortization of debt issuance costs and discounts related to indebtedness, and the interest portion of rent expense.
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