Interest coverage
Operating income divided by interest expense and other financing charges 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, short term bank loans, long term debt due within one year and long term debt less cash, cash equivalents and short term investments (see Non-GAAP Financial Measures – PDF, 70 KB).
Net debt (excluding Exchangeable Debentures) to equity
Net debt excluding Exchangeable Debentures divided by total shareholders’ equity (see Non-GAAP Financial Measures – PDF, 70 KB).
Net debt to equity
Net debt divided by total shareholders’ equity.
New store
A newly constructed store, conversion or major expansion.
Operating income
Net earnings from continuing operations before minority interest, interest expense and other financing charges and income taxes.
Operating margin
Operating income divided by sales.
Price/earnings from continuing operations ratio at year end
Market price per common share at year end divided by basic net earnings per common share from continuing operations for the year.