XML 37 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Gross Sales $ 1,492,586 $ 1,394,800 $ 4,254,256 $ 4,067,016
Cash discounts (6,135) (5,508) (16,775) (16,060)
Net Sales 1,486,451 1,389,292 4,237,481 4,050,956
Cost of merchandise sold (1,208,788) (1,133,046) (3,460,021) (3,289,222)
Gross Margin 277,663 256,246 777,460 761,734
Selling, general and administrative expenses (220,791) (213,396) (652,950) (635,618)
Depreciation and amortization (9,251) (8,059) (27,268) (24,013)
Other income, net 451 915 1,653 32,988
Income from Operations 48,072 35,706 98,895 135,091
Interest expense, net (407) (416) (1,171) (1,876)
Income before Provision for Income Taxes 47,665 35,290 97,724 133,215
Provision for income taxes (18,946) (15,210) (39,100) (53,849)
Net Income 28,719 20,080 58,624 79,366
Less: Net income attributable to noncontrolling interests (86) (68) (154) (211)
Net Income attributable to Graybar Electric Company, Inc. $ 28,633 $ 20,012 $ 58,470 $ 79,155
Net Income per share of Common Stock (A) $ 1.85 [1] $ 1.29 [1] $ 3.76 [1] $ 5.08 [1]
Cash Dividends per share of Common Stock (B) $ 0.30 [2] $ 0.30 [2] $ 0.90 [2] $ 0.90 [2]
Average Common Shares Outstanding (A) 15,507 [1] 15,568 [1] 15,565 [1] 15,595 [1]
[1] (A)Adjusted for the declaration of a twenty percent (20%) stock dividend in 2012, shares related to which were issued in February 2013. Prior to the adjustment, the average common shares outstanding were 12,973 and 12,996 for the three and nine months ended September 30, 2012, respectively.
[2] (B)Cash dividends declared were $4,665 and $3,896 for the three months ended September 30, 2013 and 2012, respectively. Cash dividends declared were $14,041 and $11,729 for the nine months ended September 30, 2013 and 2012, respectively.