Selected Statement of Earnings Data (In millions, except per share data)
20181, 2
20172
20162, 3, 4
20152
20142
Net sales
$
71,309
$
68,619
$
65,017
$
59,074
$
56,223
Gross margin
22,908
22,434
21,674
19,933
18,987
Operating income
4,018
6,586
5,846
4,971
4,792
Net earnings
2,314
3,447
3,093
2,546
2,698
Basic earnings per common share
2.84
4.09
3.48
2.73
2.71
Diluted earnings per common share
2.84
4.09
3.47
2.73
2.71
Dividends per share
$
1.85
$
1.58
$
1.33
$
1.07
$
0.87
Selected Balance Sheet Data
Total assets
$
34,508
$
35,291
$
34,408
$
31,266
$
31,721
Long-term debt, excluding current maturities
$
14,391
$
15,564
$
14,394
$
11,545
$
10,806
1
Effective February 3, 2018, the Company adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606), and all related amendments, using the modified retrospective method. Therefore, results for reporting periods beginning after February 2, 2018 are presented under ASU 2014-09, while comparative prior period amounts have not been restated and continue to be presented under accounting standards in effect in those periods. See Note 1 to the consolidated financial statements for additional information on the impacts of adopting this new revenue recognition guidance.
2
In the fourth quarter of fiscal 2018, the Company changed its method of accounting for shipping and handling costs from the Company’s stores, distribution centers, and other locations to customers. Under the new accounting principle, shipping and handling costs related to the delivery of products from the Company to customers are included in cost of sales, whereas they were previously presented in selling, general, and administrative expense, and depreciation and amortization. Amounts presented for fiscal years 2018, 2017, 2016, 2015, and 2014 reflect adjusted amounts in accordance with this accounting principle change. See Note 2 to the consolidated financial statements included herein for additional information on the accounting principle change.
3
Fiscal 2016 contained 53 weeks, while all other years contained 52 weeks.
4
Fiscal 2016 includes the acquisition of RONA inc. See Note 4 to the consolidated financial statements included in this Annual Report.
filings.tools