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Please analyze the income statement below with observations on trends and overall performance of this company: (In millions, except per share amounts) 2015 2014 2013
Please analyze the income statement below with observations on trends and overall performance of this company:
(In millions, except per share amounts) | 2015 | 2014 | 2013 | 2012 | 2011 |
(52 weeks) | (52 weeks) | (52 weeks) | (53 weeks) | (52 weeks) | |
Sales | 109,830 | 108,465 | 98,375 | 96,619 | 90,269 |
less: Sales Incentives | 0 | 0 | 0 | 0 | 0 |
Net operating revenues | 109,830 | 108,465 | 98,375 | 96,619 | 90,269 |
Merchandise costs, including advertising, warehousing, and transportation | -85,496 | -85,512 | -78,138 | -76,726 | -71,389 |
Gross profit | 24,334 | 22953 | 20237 | 19893 | 18880 |
Operating, general and administrative | -17,946 | -17,161 | -15,196 | -14,849 | -15,345 |
Rent | -723 | -707 | -613 | -628 | -619 |
Operating income before depreciation/amortization | 5,665 | 5,085 | 4,428 | 4,416 | 2,916 |
Depreciation and amortization | -2,089 | -1,948 | -1,703 | -1,652 | -1,638 |
Operating Profit | 3,576 | 3,137 | 2,725 | 2,764 | 1,278 |
Interest expense | 482 | 488 | 443 | 462 | 435 |
EBIT | 3,094 | 2,649 | 2,282 | 2,302 | 843 |
Income tax expense | 1,045 | 902 | 751 | 794 | 247 |
Net earnings including noncontrolling interests (EBT) | 2,049 | 1,747 | 1,531 | 1,508 | 596 |
Net earnings attributable to noncontrolling interests | 10 | 19 | 12 | 11 | -6 |
Net Income | 2,039 | 1,728 | 1,519 | 1,497 | 602 |
Net earnings attributable to The Kroger Co. per basic common share | 2.09 | 1.74 | 1.47 | 2.78 | 1.01 |
Average number of common shares used in basic calculation | 966 | 981 | 1,028 | 533 | 590 |
Net earnings attributable to The Kroger Co. per diluted common share | 2.06 | 1.72 | 1.45 | 2.77 | 1.01 |
Average number of common shares used in diluted calculation | 980 | 993 | 1,040 | 537 | 593 |
Dividends declared per common share | 0.408 | 0.35 | 0.315 | 0.53 | 0.44 |
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