GameStop 2007 Annual Report Download - page 104

Download and view the complete annual report

Please find page 104 of the 2007 GameStop annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 115

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115

GAMESTOP CORP.
CONSOLIDATING STATEMENT OF OPERATIONS
For the 52 Weeks Ended February 2, 2008
Issuers and
Guarantor
Subsidiaries
February 2,
2008
Non-Guarantor
Subsidiaries
February 2,
2008 Eliminations
Consolidated
February 2,
2008
(Amounts in thousands)
Sales ................................... $5,438,757 $1,655,205 $ — $7,093,962
Cost of sales ............................. 4,022,955 1,257,300 — 5,280,255
Gross profit ............................ 1,415,802 397,905 — 1,813,707
Selling, general and administrative expenses ...... 899,292 282,724 — 1,182,016
Depreciation and amortization ................ 99,966 30,304 — 130,270
Operating earnings ....................... 416,544 84,877 — 501,421
Interest income ........................... (21,893) (17,754) 25,868 (13,779)
Interest expense ........................... 60,917 26,504 (25,868) 61,553
Debt extinguishment expense . ................ 12,591 — — 12,591
Earnings before income tax expense .......... 364,929 76,127 — 441,056
Income tax expense ........................ 129,655 23,110 — 152,765
Net earnings............................ $ 235,274 $ 53,017 $ — $ 288,291
GAMESTOP CORP.
CONSOLIDATING STATEMENT OF OPERATIONS
For the 53 Weeks Ended February 3, 2007
Issuers and
Guarantor
Subsidiaries
February 3,
2007
Non-Guarantor
Subsidiaries
February 3,
2007 Eliminations
Consolidated
February 3,
2007
(Amounts in thousands)
Sales ................................... $4,269,484 $1,049,416 $ — $5,318,900
Cost of sales ............................. 3,063,450 784,008 — 3,847,458
Gross profit ............................ 1,206,034 265,408 — 1,471,442
Selling, general and administrative expenses ...... 828,578 192,535 — 1,021,113
Depreciation and amortization ................ 85,251 24,611 — 109,862
Merger-related expenses ..................... 6,788 — — 6,788
Operating earnings ....................... 285,417 48,262 — 333,679
Interest income ........................... (16,796) (10,875) 16,333 (11,338)
Interest expense ........................... 84,340 16,655 (16,333) 84,662
Debt extinguishment expense . ................ 6,059 — — 6,059
Earnings before income tax expense .......... 211,814 42,482 — 254,296
Income tax expense ........................ 78,654 17,392 — 96,046
Net earnings............................ $ 133,160 $ 25,090 $ — $ 158,250
F-37
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)