Inventories are valued on a lower of last-in, first-out (LIFO) cost or market basis. Inventory includes product costs, inbound freight, warehousing costs and vendor allowances not classified as a reduction of advertising expense.
Source: Walgreen Co., Annual Report
You have visited 10 password protected pages for free. Others contain data covered by 
.
Sign Up Now to get full access to whole website and cut out all advertisements.
Walgreen Co., Statement of Financial Position, Inventory
USD $ in millions
| Aug 31, 2011 | Aug 31, 2010 | Aug 31, 2009 | Aug 31, 2008 | Aug 31, 2007 | Aug 31, 2006 | ||
|---|---|---|---|---|---|---|---|
 |
Inventories | |
|
|
|
|
|
Source: Based on data from Walgreen Co. Annual Reports
| Item | Description | The company |
|---|---|---|
| Inventories | Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). | Walgreen Co.'s inventories increased from 2009 to 2010 and from 2010 to 2011. |
You have visited 10 password protected pages for free. Others contain data covered by .
Sign Up Now to get full access to whole website and cut out all advertisements.
Adjusting LIFO Inventory to FIFO (Current) Cost
USD $ in millions
| Aug 31, 2011 | Aug 31, 2010 | Aug 31, 2009 | Aug 31, 2008 | Aug 31, 2007 | Aug 31, 2006 | ||
|---|---|---|---|---|---|---|---|
| Adjustment to Inventories | |||||||
|
Inventories at LIFO (as reported) | |
|
|
|
|
|
|
Add: LIFO reserve, ending balance | |
|
|
|
|
|
|
Inventories at FIFO (adjusted) | |
|
|
|
|
|
| Adjustment to Current Assets | |||||||
|
Current assets (as reported) | |
|
|
|
|
|
|
Add: LIFO reserve, ending balance | |
|
|
|
|
|
|
Current assets (adjusted) | |
|
|
|
|
|
| Adjustment to Total Assets | |||||||
|
Total assets (as reported) | |
|
|
|
|
|
|
Add: LIFO reserve, ending balance | |
|
|
|
|
|
|
Total assets (adjusted) | |
|
|
|
|
|
| Adjustment to Shareholders' Equity | |||||||
|
Shareholders' equity (as reported) | |
|
|
|
|
|
|
Add: LIFO reserve, ending balance | |
|
|
|
|
|
|
Shareholders' equity (adjusted) | |
|
|
|
|
|
| Adjustment to Net Earnings | |||||||
|
Net earnings (as reported) | |
|
|
|
|
|
|
Add: Increase (decrease) in LIFO reserve, ending balance | |
|
|
|
|
|
|
Net earnings (adjusted) | |
|
|
|
|
|
Walgreen Co.'s inventory value on Aug 31, 2011 would be $9,631 (in millions) if the FIFO inventory method was used instead of LIFO. Walgreen Co.'s inventories, valued on a LIFO basis, on Aug 31, 2011 were $8,044 . Walgreen Co.'s inventories would have been $1,587 higher than reported on Aug 31, 2011 if the FIFO method had been used instead.
You have visited 10 password protected pages for free. Others contain data covered by .
Sign Up Now to get full access to whole website and cut out all advertisements.
Walgreen Co., adjusted ratios
| Aug 31, 2011 | Aug 31, 2010 | Aug 31, 2009 | Aug 31, 2008 | Aug 31, 2007 | Aug 31, 2006 | ||
|---|---|---|---|---|---|---|---|
| Current Ratio | |||||||
|
Reported current ratio (LIFO) | |
|
|
|
|
|
|
Adjusted current ratio (FIFO) | |
|
|
|
|
|
| Net Profit Margin | |||||||
|
Reported net profit margin (LIFO) | % |
% |
% |
% |
% |
% |
|
Adjusted net profit margin (FIFO) | % |
% |
% |
% |
% |
% |
| Total Asset Turnover | |||||||
|
Reported total asset turnover (LIFO) | |
|
|
|
|
|
|
Adjusted total asset turnover (FIFO) | |
|
|
|
|
|
| Financial Leverage | |||||||
|
Reported financial leverage (LIFO) | |
|
|
|
|
|
|
Adjusted financial leverage (FIFO) | |
|
|
|
|
|
| Return on Equity (ROE) | |||||||
|
Reported ROE (LIFO) | % |
% |
% |
% |
% |
% |
|
Adjusted ROE (FIFO) | % |
% |
% |
% |
% |
% |
| Return on Assets (ROA) | |||||||
|
Reported ROA (LIFO) | % |
% |
% |
% |
% |
% |
|
Adjusted ROA (FIFO) | % |
% |
% |
% |
% |
% |
| Ratio | Description | The company |
|---|---|---|
| Adjusted current ratio | A liquidity ratio calculated as adjusted current assets divided by current liabilities. | Walgreen Co.'s adjusted current ratio deteriorated from 2009 to 2010 and from 2010 to 2011. |
| Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by revenue. | Walgreen Co.'s adjusted net profit margin deteriorated from 2009 to 2010 but then improved from 2010 to 2011 exceeding 2009 level. |
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Walgreen Co.'s adjusted total asset turnover improved from 2009 to 2010 and from 2010 to 2011. |
| Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Walgreen Co.'s adjusted financial leverage increased from 2009 to 2010 and from 2010 to 2011. |
| Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders' equity. | Walgreen Co.'s adjusted ROE improved from 2009 to 2010 and from 2010 to 2011. |
| Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Walgreen Co.'s adjusted ROA deteriorated from 2009 to 2010 but then improved from 2010 to 2011 exceeding 2009 level. |
You have visited 10 password protected pages for free. Others contain data covered by .
Sign Up Now to get full access to whole website and cut out all advertisements.
| Aug 31, 2011 | Aug 31, 2010 | Aug 31, 2009 | Aug 31, 2008 | Aug 31, 2007 | Aug 31, 2006 | ||
|---|---|---|---|---|---|---|---|
| As Reported | |||||||
|
Current assets (USD $ in millions) | |
|
|
|
|
|
|
Current liabilities (USD $ in millions) | |
|
|
|
|
|
|
Current ratio1 | |
|
|
|
|
|
| Adjusted: from LIFO to FIFO | |||||||
|
Adjusted current assets (USD $ in millions) | |
|
|
|
|
|
|
Current liabilities (USD $ in millions) | |
|
|
|
|
|
|
Adjusted current ratio2 | |
|
|
|
|
|
2011 Calculations
1 Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Adjusted current ratio = Adjusted current assets ÷ Current liabilities
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| Adjusted current ratio | A liquidity ratio calculated as adjusted current assets divided by current liabilities. | Walgreen Co.'s adjusted current ratio deteriorated from 2009 to 2010 and from 2010 to 2011. |
You have visited 10 password protected pages for free. Others contain data covered by .
Sign Up Now to get full access to whole website and cut out all advertisements.
| Aug 31, 2011 | Aug 31, 2010 | Aug 31, 2009 | Aug 31, 2008 | Aug 31, 2007 | Aug 31, 2006 | ||
|---|---|---|---|---|---|---|---|
| As Reported | |||||||
|
Net earnings (USD $ in millions) | |
|
|
|
|
|
|
Net sales (USD $ in millions) | |
|
|
|
|
|
|
Net profit margin1 | % |
% |
% |
% |
% |
% |
| Adjusted: from LIFO to FIFO | |||||||
|
Adjusted net earnings (USD $ in millions) | |
|
|
|
|
|
|
Net sales (USD $ in millions) | |
|
|
|
|
|
|
Adjusted net profit margin2 | % |
% |
% |
% |
% |
% |
2011 Calculations
1 Net profit margin = 100 × Net earnings ÷ Net sales
= 100 × ÷ = %
2 Adjusted net profit margin = 100 × Adjusted net earnings ÷ Net sales
= 100 × ÷ = %
| Ratio | Description | The company |
|---|---|---|
| Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by revenue. | Walgreen Co.'s adjusted net profit margin deteriorated from 2009 to 2010 but then improved from 2010 to 2011 exceeding 2009 level. |
You have visited 10 password protected pages for free. Others contain data covered by .
Sign Up Now to get full access to whole website and cut out all advertisements.
| Aug 31, 2011 | Aug 31, 2010 | Aug 31, 2009 | Aug 31, 2008 | Aug 31, 2007 | Aug 31, 2006 | ||
|---|---|---|---|---|---|---|---|
| As Reported | |||||||
|
Net sales (USD $ in millions) | |
|
|
|
|
|
|
Total assets (USD $ in millions) | |
|
|
|
|
|
|
Total asset turnover1 | |
|
|
|
|
|
| Adjusted: from LIFO to FIFO | |||||||
|
Net sales (USD $ in millions) | |
|
|
|
|
|
|
Adjusted total assets (USD $ in millions) | |
|
|
|
|
|
|
Adjusted total asset turnover2 | |
|
|
|
|
|
2011 Calculations
1 Total asset turnover = Net sales ÷ Total assets
= ÷ =
2 Adjusted total asset turnover = Net sales ÷ Adjusted total assets
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Walgreen Co.'s adjusted total asset turnover improved from 2009 to 2010 and from 2010 to 2011. |
You have visited 10 password protected pages for free. Others contain data covered by .
Sign Up Now to get full access to whole website and cut out all advertisements.
| Aug 31, 2011 | Aug 31, 2010 | Aug 31, 2009 | Aug 31, 2008 | Aug 31, 2007 | Aug 31, 2006 | ||
|---|---|---|---|---|---|---|---|
| As Reported | |||||||
|
Total assets (USD $ in millions) | |
|
|
|
|
|
|
Shareholders' equity (USD $ in millions) | |
|
|
|
|
|
|
Financial leverage1 | |
|
|
|
|
|
| Adjusted: from LIFO to FIFO | |||||||
|
Adjusted total assets (USD $ in millions) | |
|
|
|
|
|
|
Adjusted shareholders' equity (USD $ in millions) | |
|
|
|
|
|
|
Adjusted financial leverage2 | |
|
|
|
|
|
2011 Calculations
1 Financial leverage = Total assets ÷ Shareholders' equity
= ÷ =
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted shareholders' equity
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Walgreen Co.'s adjusted financial leverage increased from 2009 to 2010 and from 2010 to 2011. |
You have visited 10 password protected pages for free. Others contain data covered by .
Sign Up Now to get full access to whole website and cut out all advertisements.
| Aug 31, 2011 | Aug 31, 2010 | Aug 31, 2009 | Aug 31, 2008 | Aug 31, 2007 | Aug 31, 2006 | ||
|---|---|---|---|---|---|---|---|
| As Reported | |||||||
|
Net earnings (USD $ in millions) | |
|
|
|
|
|
|
Shareholders' equity (USD $ in millions) | |
|
|
|
|
|
|
ROE1 | % |
% |
% |
% |
% |
% |
| Adjusted: from LIFO to FIFO | |||||||
|
Adjusted net earnings (USD $ in millions) | |
|
|
|
|
|
|
Adjusted shareholders' equity (USD $ in millions) | |
|
|
|
|
|
|
Adjusted ROE2 | % |
% |
% |
% |
% |
% |
2011 Calculations
1 ROE = 100 × Net earnings ÷ Shareholders' equity
= 100 × ÷ = %
2 Adjusted ROE = 100 × Adjusted net earnings ÷ Adjusted shareholders' equity
= 100 × ÷ = %
| Ratio | Description | The company |
|---|---|---|
| Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders' equity. | Walgreen Co.'s adjusted ROE improved from 2009 to 2010 and from 2010 to 2011. |
You have visited 10 password protected pages for free. Others contain data covered by .
Sign Up Now to get full access to whole website and cut out all advertisements.
| Aug 31, 2011 | Aug 31, 2010 | Aug 31, 2009 | Aug 31, 2008 | Aug 31, 2007 | Aug 31, 2006 | ||
|---|---|---|---|---|---|---|---|
| As Reported | |||||||
|
Net earnings (USD $ in millions) | |
|
|
|
|
|
|
Total assets (USD $ in millions) | |
|
|
|
|
|
|
ROA1 | % |
% |
% |
% |
% |
% |
| Adjusted: from LIFO to FIFO | |||||||
|
Adjusted net earnings (USD $ in millions) | |
|
|
|
|
|
|
Adjusted total assets (USD $ in millions) | |
|
|
|
|
|
|
Adjusted ROA2 | % |
% |
% |
% |
% |
% |
2011 Calculations
1 ROA = 100 × Net earnings ÷ Total assets
= 100 × ÷ = %
2 Adjusted ROA = 100 × Adjusted net earnings ÷ Adjusted total assets
= 100 × ÷ = %
| Ratio | Description | The company |
|---|---|---|
| Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Walgreen Co.'s adjusted ROA deteriorated from 2009 to 2010 but then improved from 2010 to 2011 exceeding 2009 level. |
May 24, 2012