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CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Net sales $ 2,522,565 $ 2,506,104 $ 4,962,226 $ 4,891,731
Cost of merchandise sold 1,449,133 1,425,418 2,795,052 2,735,074
Gross profit 1,073,432 1,080,686 2,167,174 2,156,657
Warehousing, marketing and administrative expenses 716,715 739,935 1,459,209 1,461,567
Operating earnings 356,717 340,751 707,965 695,090
Other income and (expense):        
Interest income 277 413 469 1,053
Interest expense (4,184) (2,757) (5,819) (5,620)
Loss from equity method investment (4,302) 0 (4,302) 0
Other non-operating income 484 177 726 345
Other non-operating expense (306) (159) (2,714) (830)
Total other expense (8,031) (2,326) (11,640) (5,052)
Earnings before income taxes 348,686 338,425 696,325 690,038
Income taxes 123,451 129,348 256,944 261,906
Net earnings 225,235 209,077 439,381 428,132
Less: Net earnings attributable to noncontrolling interest 4,687 3,162 7,818 5,564
Net earnings attributable to W.W. Grainger, Inc. $ 220,548 $ 205,915 $ 431,563 $ 422,568
Earnings per share:        
Basic (in dollars per share) $ 3.28 $ 2.97 $ 6.38 $ 6.08
Diluted (in dollars per share) $ 3.25 $ 2.94 $ 6.32 $ 6.00
Weighted average number of shares outstanding:        
Basic (in shares) 66,652,130 68,453,602 66,939,110 68,576,232
Diluted (in shares) 67,317,131 69,341,885 67,647,689 69,509,125
Cash dividends paid per share (in dollars per share) $ 1.17 $ 1.08 $ 2.25 $ 2.01