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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Net Sales $ 5,659,141 $ 5,413,281 $ 5,374,800
Cost of merchandise sold (4,614,985) (4,394,919) (4,379,541)
Gross Margin 1,044,156 1,018,362 995,259
Selling, general and administrative expenses (873,415) (871,374) (822,678)
Depreciation and amortization (36,944) (32,449) (33,140)
Other income, net 2,495 33,143 3,769
Income from Operations 136,292 147,682 143,210
Interest expense, net (1,341) (2,234) (10,021)
Income before provision for income taxes 134,951 145,448 133,189
Provision for income taxes (53,677) (58,850) (51,298)
Net Income 81,274 86,598 81,891
Net income attributable to noncontrolling interests (211) (307) (466)
Net Income attributable to Graybar Electric Company, Inc. $ 81,063 $ 86,291 $ 81,425
Net Income attributable to Graybar Electric Company, Inc. per share of Common Stock(A) $ 5.09 [1] $ 5.40 [1] $ 5.14 [1]
[1] Adjusted for the declaration of a two and a half percent (2.5%) stock dividend in December 2013, shares related to which were issued in February 2014. Prior to the adjustment, the average common shares outstanding were 15,580 and 15,451 for the years ended December 31, 2012 and 2011, respectively.