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Condensed Consolidated Statements of Income (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Gross Sales $ 1,375,852 $ 1,135,279 $ 2,567,359 $ 2,140,378
Cash discounts (4,882) (4,508) (9,221) (8,433)
Net Sales 1,370,970 1,130,771 2,558,138 2,131,945
Cost of merchandise sold (1,122,229) (921,230) (2,083,447) (1,727,745)
Gross Margin 248,741 209,541 474,691 404,200
Selling, general and administrative expenses (199,037) (181,724) (394,668) (359,763)
Depreciation and amortization (7,377) (9,979) (17,002) (19,693)
Other income, net 834 731 1,554 2,228
Income from Operations 43,161 18,569 64,575 26,972
Interest expense, net (1,812) (2,173) (3,662) (4,472)
Income before Provision for Income Taxes 41,349 16,396 60,913 22,500
Provision for income taxes (17,345) (6,827) (25,264) (9,368)
Net Income 24,004 9,569 35,649 13,132
Less: Net income attributable to noncontrolling interests (83) (61) (200) (98)
Net Income attributable to Graybar Electric Company, Inc. $ 23,921 $ 9,508 $ 35,449 $ 13,034
Net Income per share of Common Stock $ 2.04 $ 0.82 $ 3.03 $ 1.12
Cash Dividends per share of Common Stock $ 0.30 $ 0.30 $ 0.60 $ 0.60
Average Common Shares Outstanding 11,714 11,644 11,716 11,677