Interest coverage
Operating income divided by interest expense adding back interest capitalized to fixed assets.
Major expansion
Expansion of a store that results in an increase in square footage that is greater than 25% of the square footage of the store prior to the expansion.
Market/book ratio at year end
Market price per common share at year end divided by book value per common share at year end.
Minor expansion
Expansion of a store that results in an increase in square footage that is less than or equal to 25% of the square footage of the store prior to the expansion.
Net debt
Bank indebtedness, commercial paper, long term debt due within one year, long term debt and debt equivalents less cash, cash equivalents and short term investments (see Non-GAAP Financial Measures – 51 KB PDF).
Net debt to equity
Net debt divided by total shareholders’ equity.
New store
A newly constructed store, conversion or major expansion.
Operating income
Earnings before interest expense and income taxes.
Operating margin
Operating income divided by sales.
Price/net (loss) earnings ratio at year end
Market price per common share at year end divided by basic net (loss) earnings per common share for the year.