XML 24 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Gross Sales $ 1,287,905 $ 1,285,386
Cash discounts (4,983) (5,139)
Net Sales 1,282,922 1,280,247
Cost of merchandise sold (1,047,090) (1,033,434)
Gross Margin 235,832 246,813
Selling, general and administrative expenses (213,780) (212,735)
Depreciation and amortization (9,017) (7,790)
Other income, net (557) (1,892)
Income from Operations 13,592 28,180
Interest expense, net (363) (777)
Income before Provision for Income Taxes 13,229 27,403
Provision for income taxes (5,250) (10,974)
Net Income 7,979 16,429
Less: Net income attributable to noncontrolling interests (33) (74)
Net Income attributable to Graybar Electric Company, Inc $ 7,946 $ 16,355
Net Income per share of Common Stock $ 0.51 [1] $ 1.05 [1]
Cash Dividends per share of Common Stock $ 0.30 [2] $ 0.30 [2]
Average Common Shares Outstanding 15,634 [1] 15,614 [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 13,012 for the three months ended March 31, 2012.
[2] (B)Cash dividends declared were $4,700 and $3,921 for the three months ended March 31, 2013 and 2012, respectively.