Whole Foods Market, Inc. included these statements in its 2010 annual report.*
|
WHOLE FOODS MARKET, INC.
Consolidated Balance Sheets
(in thousands)
September 26, 2010 and September 27, 2009
|
|
Assets
|
2010
|
2009
|
|
Current Assets:
|
$ 131,996
|
$ 430,130
|
|
Cash and cash equivalents
|
$ 131,996
|
$ 430,130
|
|
Short-term investments - available-for-sale securities
|
329,738
|
-
|
|
Restricted cash
|
86,802
|
71,023
|
|
Restricted cash
|
133,346
|
104,730
|
|
Merchandise inventories
|
$ 323,487
|
$ 310,602
|
|
Prepaid expenses and other current assets
|
54,686
|
51,137
|
|
Deferred income taxes
|
101,464
|
87,757
|
|
Total current assets
|
1,161,519
|
1,055,380
|
|
"Property and equipment, net of accumulated depreciation and amortization
|
1,886,130
|
1,897,853
|
|
Long-term investments - available-for-sale securities
|
96,146
|
-
|
|
Goodwill
|
665,224
|
658,254
|
|
Intangible assets, net of accumulated amortization
|
69,064
|
73,035
|
|
Deferred income taxes
|
99,156
|
91,000
|
|
Other assets
|
9,301
|
7,866
|
|
Total assets
|
$3,986,540
|
$3,783,388
|
|
Liabilities and Shareholders Equity
|
|
|
|
Current Liabilities:
|
|
|
|
Current installments of long-term debt and capital lease obligations
|
$ 410
|
$ 389
|
|
Accounts payable
|
213,212
|
189,597
|
|
Accrued payroll, bonus and other benefits due team members
|
244,427
|
207,983
|
|
Dividends payable
|
|
8,217
|
|
Other current liabilities
|
289,823
|
277,838
|
|
Total current liabilities
|
747,872
|
684,024
|
|
Long-term debt and capital lease obligations, less current installments
|
508,288
|
738,848
|
|
Deferred lease liabilities
|
294,291
|
250,326
|
|
Other long-term liabilities
|
62,831
|
69,262
|
|
Total liabilities
|
1,613,282
|
1,742,460
|
|
Series A redeemable preferred stock, $0.10 par value, 425 shares authorized; zero and 425 shares issued and outstanding at 2010 and 2009, respectively
|
|
413,052
|
|
Shareholders' equity:
|
|
|
|
Common stock, no par value, 300,000 shares authorized; 172,033 and 140,542 shares issued and outstanding at 2010 and 2009, respectively
|
1,773,897
|
1,283,028
|
|
Accumulated other comprehensive income (loss)
|
791
|
(13,367)
|
|
Retained earnings
|
598,570
|
358,215
|
|
Total shareholders' equity
|
2,373,258
|
1,627,876
|
|
Commitments and contingencies
|
|
|
|
Total liabilities and shareholders' equity
|
$3,986,540
|
$3,783,388
|
• "Property and equipment include construction in progress and equipment not yet in service (2010 - $120,845; 2009 - $ 130,068)
|
WHOLE FOODS MARKET, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
Fiscal years ended September 26, 2010, September 27, 2009 and September 28, 2008
|
|
|
2010
|
2009
|
2008
|
|
Sales
|
$9,005,794
|
$8,031,620
|
$7,953,912
|
|
Cost of goods sold and occupancy costs
|
5,870,393
|
5,277,310
|
5,247,207
|
|
Gross profit
|
3,135,401
|
2,754,310
|
2,706,705
|
|
Direct store expenses
|
2,375,716
|
2,145,809
|
2,107,940
|
|
General and administrative expenses
|
272,449
|
243,749
|
270,428
|
|
Pm-opening expenses
|
38,044
|
49,218
|
55,554
|
|
Relocation, store closure and lease termination costs
|
11,217
|
31,185
|
36,545
|
|
Operating income
|
437,975
|
284,349
|
236,238
|
|
Interest expense
|
(33,048)
|
(36,856)
|
(36,416)
|
|
Investment and other income
|
$ 6,854
|
$ 3,449
|
$ 6,697
|
|
Income before income taxes
|
411,781
|
250,942
|
206,519
|
|
Provision for income taxes
|
165,948
|
104,138
|
91,995
|
|
Net income
|
245,833
|
146,804
|
114,524
|
|
Preferred stock dividends
|
5,478
|
28,050
|
|
|
Income available to common shareholders
|
$ 240,355
|
$ 118,754
|
$ 114,524
|
|
Basic earnings per share
|
$ 1.45
|
$ 0.85
|
$ 0.82
|
|
Weighted average shares outstanding
|
166,244
|
140,414
|
139,886
|
|
Diluted earnings per share
|
$ 1.43
|
$ 0.85
|
$ 0.82
|
|
Weighted average shares outstanding, diluted basis
|
171,710
|
140,414
|
140,011
|
|
Dividends declared per common share
|
|
|
$ 0.60
|
Required
a. Compute the following for 2010 and 2009:
1. Net profit margin
2. Total asset turnover (ume year-end! assets)
3. Return on assets (use year-end assets)
4. Operating income margin
5. Return on operating assets (ume yearend assets)
6. Saks to fixed assets (ume year-end fixed assets)
7. Return on investment (use year-end balance sheet accounts)
8. Return on total equiv.), (use year-end equity)
9. Gross profit margin
b. Comment on the trends in (a).