2013 Q1 Form 10-K Financial Statement

#000119312513138497 Filed on April 02, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2013 2012 Q1
Revenue $7.724B $25.88B $6.710B
YoY Change 15.12% 11.59% 5.97%
Cost Of Revenue $5.515B $18.52B $4.884B
YoY Change 12.92% 9.89% 4.67%
Gross Profit $2.209B $7.357B $1.825B
YoY Change 21.02% 16.1% 9.6%
Gross Profit Margin 28.6% 28.43% 27.2%
Selling, General & Admin $1.240B $4.250B $1.058B
YoY Change 17.2% 9.26% -5.7%
% of Gross Profit 56.13% 57.77% 57.96%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $136.5M $508.9M $128.8M
YoY Change 5.98% 4.78% 10.09%
% of Gross Profit 6.18% 6.92% 7.06%
Operating Expenses $1.239B $4.250B $1.058B
YoY Change 17.11% 9.26% -5.7%
Operating Profit $970.0M $3.442B $767.4M
YoY Change 26.4% -20825.83% 41.18%
Interest Expense -$5.000M $48.58M -$9.000M
YoY Change -44.44% -1.41% 0.0%
% of Operating Profit -0.52% 1.41% -1.17%
Other Income/Expense, Net
YoY Change
Pretax Income $965.0M $2.518B $759.0M
YoY Change 27.14% 4.41% 42.13%
Income Tax $360.0M $1.171B $283.0M
% Of Pretax Income 37.31% 46.5% 37.29%
Net Earnings $605.0M $1.907B $475.3M
YoY Change 27.28% 27.44% 42.13%
Net Earnings / Revenue 7.83% 7.37% 7.08%
Basic Earnings Per Share $2.60 $0.63
Diluted Earnings Per Share $409.9K $2.55 $0.62
COMMON SHARES
Basic Shares Outstanding 723.9M shares 733.6M shares
Diluted Shares Outstanding 747.6M shares

Balance Sheet

Concept 2013 Q1 2013 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.048B $2.048B $1.602B
YoY Change 27.84% 27.84% -11.88%
Cash & Equivalents $1.812B $1.812B $1.507B
Short-Term Investments $236.0M $236.0M $95.00M
Other Short-Term Assets $330.5M $427.0M $270.1M
YoY Change 22.35% 13.56% -14.51%
Inventory $3.014B $3.014B $2.951B
Prepaid Expenses
Receivables $222.8M $223.0M $204.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.712B $5.712B $5.133B
YoY Change 11.28% 11.28% 0.64%
LONG-TERM ASSETS
Property, Plant & Equipment $3.223B $3.223B $2.706B
YoY Change 19.1% 18.71% 9.97%
Goodwill $170.3M $72.20M
YoY Change 135.86% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $260.8M $261.0M $253.9M
YoY Change 2.71% 2.76% 9.45%
Total Long-Term Assets $3.800B $3.800B $3.149B
YoY Change 20.68% 20.67% 9.65%
TOTAL ASSETS
Total Short-Term Assets $5.712B $5.712B $5.133B
Total Long-Term Assets $3.800B $3.800B $3.149B
Total Assets $9.512B $9.512B $8.282B
YoY Change 14.86% 14.85% 3.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.931B $1.931B $1.645B
YoY Change 17.34% 17.39% -2.3%
Accrued Expenses $1.666B $833.0M $1.365B
YoY Change 22.05% 17.49% 1.26%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $3.000M
YoY Change -100.0% -100.0% 0.0%
Total Short-Term Liabilities $3.761B $3.761B $3.063B
YoY Change 22.76% 22.79% -2.22%
LONG-TERM LIABILITIES
Long-Term Debt $774.6M $775.0M $774.5M
YoY Change 0.02% -1.27% -1.72%
Other Long-Term Liabilities $961.3M $961.0M $861.8M
YoY Change 11.55% 11.48% 21.55%
Total Long-Term Liabilities $1.736B $1.736B $1.636B
YoY Change 6.09% 5.4% 9.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.761B $3.761B $3.063B
Total Long-Term Liabilities $1.736B $1.736B $1.636B
Total Liabilities $5.496B $5.846B $4.700B
YoY Change 16.95% 15.26% -3.54%
SHAREHOLDERS EQUITY
Retained Earnings $3.155B $2.655B
YoY Change 18.84%
Common Stock $723.9M $746.7M
YoY Change -3.05%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.666B $3.666B $3.209B
YoY Change
Total Liabilities & Shareholders Equity $9.512B $9.512B $8.282B
YoY Change 14.86% 14.85% 3.88%

Cashflow Statement

Concept 2013 Q1 2013 2012 Q1
OPERATING ACTIVITIES
Net Income $605.0M $1.907B $475.3M
YoY Change 27.28% 27.44% 42.13%
Depreciation, Depletion And Amortization $136.5M $508.9M $128.8M
YoY Change 5.98% 4.78% 10.09%
Cash From Operating Activities $965.6M $3.046B $1.085B
YoY Change -11.02% 58.95% 23.7%
INVESTING ACTIVITIES
Capital Expenditures -$202.6M $978.2M -$141.9M
YoY Change 42.78% 21.77% -14.88%
Acquisitions $190.4M
YoY Change
Other Investing Activities -$226.0M -$34.49M -$24.00M
YoY Change 841.67% 196.0% -145.45%
Cash From Investing Activities -$428.6M -$1.277B -$165.8M
YoY Change 158.5% 57.43% 45.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.211B
YoY Change 9.94%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -372.9M -1.476B -355.2M
YoY Change 4.98% 10.47% -3.69%
NET CHANGE
Cash From Operating Activities 965.6M 3.046B 1.085B
Cash From Investing Activities -428.6M -1.277B -165.8M
Cash From Financing Activities -372.9M -1.476B -355.2M
Net Change In Cash 164.1M 293.2M 564.2M
YoY Change -70.91% -227.07% 42.98%
FREE CASH FLOW
Cash From Operating Activities $965.6M $3.046B $1.085B
Capital Expenditures -$202.6M $978.2M -$141.9M
Free Cash Flow $1.168B $2.067B $1.227B
YoY Change -4.8% 85.8% 17.54%

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10-K
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2013-02-02
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CY2013 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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TJX
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TJX COMPANIES INC /DE/
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<div> <p style="margin-top:6px;margin-bottom:0px; text-indent:3%"> <font style="font-family:arial" size="2"><i>Fiscal Year</i>: TJX&#x2019;s fiscal year ends on the Saturday nearest to the last day of January of each year. The fiscal years ended January&#xA0;28, 2012 (fiscal 2012) and January&#xA0;29, 2011 (fiscal 2011) each included 52 weeks. The fiscal year ended February&#xA0;2, 2013 (fiscal 2013) included 53 weeks.</font></p> </div>
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4 Segment
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18418000
CY2013 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
1300000000
CY2013 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
30600000 shares
CY2013 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
6200000
CY2013 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
336214000
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
3077351000
CY2013 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.60
CY2013 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1475587000
CY2013 us-gaap Operating Leases Rent Expense Contingent Rentals
OperatingLeasesRentExpenseContingentRentals
15000000
CY2013 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
2.60
CY2013 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
77800000
CY2013 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
29175000
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
890000 shares
CY2013 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
32000000 shares
CY2013 us-gaap Defined Benefit Plan Benefit Obligation Period Increase Decrease
DefinedBenefitPlanBenefitObligationPeriodIncreaseDecrease
33800000
CY2013 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.009 pure
CY2013 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
7750000
CY2013 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
62472000
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.290 pure
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
733588000 shares
CY2013 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-27186000
CY2013 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
162200000
CY2013 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 pure
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P5Y3M18D
CY2013 us-gaap Revenues
Revenues
25878372000
CY2013 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
153083000
CY2013 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-34490000
CY2013 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
1456000
CY2013 us-gaap Interest Paid
InterestPaid
45653000
CY2013 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
355736000
CY2013 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
13265000
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
3009000
CY2013 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4900000 shares
CY2013 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-10745000
CY2013 us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Net Of Tax
OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationNetOfTax
-41043000
CY2013 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
62472000
CY2013 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4250446000
CY2013 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1171600000
CY2013 us-gaap Depreciation Nonproduction
DepreciationNonproduction
515900000
CY2013 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1170664000
CY2013 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
11666000
CY2013 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
557000
CY2013 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
2.55
CY2013 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
1885870000
CY2013 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:6px;margin-bottom:0px; text-indent:3%"> <font style="font-family:arial" size="2"><i>Use of Estimates</i>: The preparation of the TJX financial statements, in conformity with accounting principles generally accepted in the United States of America (GAAP), requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. TJX considers its accounting policies relating to inventory valuation, impairments of long-lived assets, retirement obligations, share-based compensation, reserves for uncertain tax positions, reserves for former operations and loss contingencies to be the most significant accounting policies that involve management estimates and judgments. Actual amounts could differ from those estimates, and such differences could be material.</font></p> </div>
CY2013 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
187657000
CY2013 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
4700000
CY2013 us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
213000000
CY2013 us-gaap Interest Expense
InterestExpense
48582000
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
10.28
CY2013 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
176076000
CY2013 tjx General Corporate Expenses
GeneralCorporateExpenses
334998000
CY2013 tjx Increase Decrease In Accrued Expenses And Other Liabilities
IncreaseDecreaseInAccruedExpensesAndOtherLiabilities
268901000
CY2013 tjx Cost Of Sales Including Buying And Occupancy Costs
CostOfSalesIncludingBuyingAndOccupancyCosts
18521400000
CY2013 tjx Interest Accretion
InterestAccretion
996000
CY2013 tjx Minimum Percentage Of Pension Liability Under Pension Protection Act
MinimumPercentageOfPensionLiabilityUnderPensionProtectionAct
0.80 pure
CY2013 tjx Consolidation Costs
ConsolidationCosts
16000000
CY2013 tjx Highly Liquid Investments Maximum Maturity Days
HighlyLiquidInvestmentsMaximumMaturityDays
P90D
CY2013 tjx Loss On Property Disposals And Impairment Charges
LossOnPropertyDisposalsAndImpairmentCharges
11876000
CY2013 tjx Termination Benefits And All Other Charged To Reserve
TerminationBenefitsAndAllOtherChargedToReserve
1466000
CY2013 tjx Lease Related Obligations Charged To Reserve
LeaseRelatedObligationsChargedToReserve
15682000
CY2013 tjx Share Based Compensation Arrangement By Share Based Payment Award Vesting Period From Date Of Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardVestingPeriodFromDateOfGrant
1 Y
CY2013 tjx Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Vesting Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodVestingPeriod
P3Y
CY2013 tjx Share Based Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Awarded In Period
ShareBasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAwardedInPeriod
281076 shares
CY2013 tjx Increase Decrease In Pension Expense
IncreaseDecreaseInPensionExpense
27000000
CY2013 tjx Options Granted At Market Price In Percentage
OptionsGrantedAtMarketPriceInPercentage
1.00 pure
CY2013 tjx Rate Of Eligible Pay For Matching Employee Contributions
RateOfEligiblePayForMatchingEmployeeContributions
0.05 pure
CY2013 tjx Minimum Range Of Rates For Matching Employee Contributions
MinimumRangeOfRatesForMatchingEmployeeContributions
0.25 pure
CY2013 tjx Maximum Range Of Rates For Matching Employee Contributions
MaximumRangeOfRatesForMatchingEmployeeContributions
0.75 pure
CY2013 tjx Options Outstanding Expected To Vest Represents Total Unvested Options Adjusted For Anticipated Forfeitures
OptionsOutstandingExpectedToVestRepresentsTotalUnvestedOptionsAdjustedForAnticipatedForfeitures
12600000 shares
CY2013 tjx Changes In Accrued Expenses Due To Property Addition
ChangesInAccruedExpensesDueToPropertyAddition
33615000
CY2013 tjx Changes In Accrued Expenses Due To Dividends Payable
ChangesInAccruedExpensesDueToDividendsPayable
12291000
CY2013 tjx Minimum Years Of Service To Participate In Defined Benefit Retirement Plan
MinimumYearsOfServiceToParticipateInDefinedBenefitRetirementPlan
5 Y
CY2013 tjx Percentage Of Employee Contribution From Eligible Pay
PercentageOfEmployeeContributionFromEligiblePay
0.50 pure
CY2013 tjx Percentage Of Employees Limit For Contribution
PercentageOfEmployeesLimitForContribution
0.50 pure
CY2013 tjx Percentage Of Other Current Liability Individual Item Which Makes Up Current Liabilities
PercentageOfOtherCurrentLiabilityIndividualItemWhichMakesUpCurrentLiabilities
0.05 pure
CY2013 tjx Postretirement Medical And Life Insurance Benefits To Retirees
PostretirementMedicalAndLifeInsuranceBenefitsToRetirees
Who participate in its retirement plan and who retired at age 55 or older with ten or more years of service
CY2013 tjx Share Based Compensation Arrangement By Share Based Payment Award Outstanding Options Vested And Expected To Vest Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOutstandingOptionsVestedAndExpectedToVestWeightedAverageExercisePrice
21.98
CY2013 tjx Share Based Compensation Arrangement By Share Based Payment Award Outstanding Options Vested And Expected To Vest Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOutstandingOptionsVestedAndExpectedToVestWeightedAverageRemainingContractualTerm
P6Y6M
CY2013 tjx Share Based Compensation Arrangement By Share Based Payment Award Shares Outstanding Options Vested And Expected To Vest
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesOutstandingOptionsVestedAndExpectedToVest
35833000 shares
CY2013 tjx Weeks In Fiscal Year
WeeksInFiscalYear
53 Week
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.34
CY2011Q2 us-gaap Profit Loss
ProfitLoss
265951000
CY2011Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
CY2011Q2 us-gaap Revenues
Revenues
5220295000
CY2011Q2 us-gaap Gross Profit
GrossProfit
1393037000
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.45
CY2011Q3 us-gaap Profit Loss
ProfitLoss
348338000
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.46
CY2011Q3 us-gaap Revenues
Revenues
5468274000
CY2011Q3 us-gaap Gross Profit
GrossProfit
1492239000
CY2011Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.53
CY2011Q4 us-gaap Profit Loss
ProfitLoss
406487000
CY2011Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.54
CY2011Q4 us-gaap Revenues
Revenues
5793128000
CY2011Q4 us-gaap Gross Profit
GrossProfit
1626541000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.55
CY2012Q2 us-gaap Profit Loss
ProfitLoss
419200000
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.56
CY2012Q2 us-gaap Revenues
Revenues
5798086000
CY2012Q2 us-gaap Gross Profit
GrossProfit
1632358000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.56
CY2012Q3 us-gaap Profit Loss
ProfitLoss
421092000
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.57
CY2012Q3 us-gaap Revenues
Revenues
5945559000
CY2012Q3 us-gaap Gross Profit
GrossProfit
1670486000
CY2012Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.62
CY2012Q4 us-gaap Profit Loss
ProfitLoss
461551000
CY2012Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.63
CY2012Q4 us-gaap Revenues
Revenues
6410913000
CY2012Q4 us-gaap Gross Profit
GrossProfit
1844840000
CY2012Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.62
CY2012Q1 us-gaap Profit Loss
ProfitLoss
475314000
CY2012Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.63
CY2012Q1 us-gaap Revenues
Revenues
6709758000
CY2012Q1 us-gaap Gross Profit
GrossProfit
1825389000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.82
us-gaap Profit Loss
ProfitLoss
604844000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.83
us-gaap Revenues
Revenues
7723814000
us-gaap Gross Profit
GrossProfit
2209288000

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