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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Net Sales $ 5,374,800 $ 4,616,377 $ 4,377,882
Cost of merchandise sold (4,379,541) (3,749,736) (3,522,932)
Gross Margin 995,259 866,641 854,950
Selling, general and administrative expenses (822,678) (753,988) (745,886)
Depreciation and amortization (33,140) (39,725) (39,352)
Other income, net 3,769 4,608 2,786
Income from Operations 143,210 77,536 72,498
Interest expense, net (10,021) (8,062) (9,967)
Income before provision for income taxes 133,189 69,474 62,531
Provision for income taxes (51,298) (27,181) (25,089)
Net Income 81,891 42,293 37,442
Net income attributable to noncontrolling interests (466) (295) (165)
Net Income attributable to Graybar Electric Company, Inc. $ 81,425 $ 41,998 $ 37,277
Net Income attributable to Graybar Electric Company, Inc. per share of Common Stock $ 6.32 [1] $ 3.28 [1] $ 2.89 [1]
[1] Adjusted for the declaration of a ten percent (10%) stock dividend in December 2011, shares related to which were issued in February 2012. Prior to the adjustment, the average common shares outstanding were 11,647 and 11,708 for the years ended December 31, 2010 and 2009, respectively.