GameStop 2008 Annual Report Download - page 104

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GAMESTOP CORP.
CONSOLIDATING STATEMENT OF OPERATIONS
For the 52 Weeks Ended January 31, 2009
Issuers and
Guarantor
Subsidiaries
January 31,
2009
Non-Guarantor
Subsidiaries
January 31,
2009 Eliminations
Consolidated
January 31,
2009
(Amounts in thousands)
Sales ................................... $6,466,663 $2,339,234 $ — $8,805,897
Cost of sales ............................. 4,767,229 1,768,533 — 6,535,762
Gross profit ............................ 1,699,434 570,701 — 2,270,135
Selling, general and administrative expenses ...... 1,034,733 410,686 — 1,445,419
Depreciation and amortization ................ 103,593 41,411 — 145,004
Merger-related expenses ..................... 4,593 — — 4,593
Operating earnings ....................... 556,515 118,604 — 675,119
Interest income ........................... (17,446) (36,995) 42,822 (11,619)
Interest expense ........................... 38,844 54,434 (42,822) 50,456
Debt extinguishment expense . ................ 2,331 — — 2,331
Earnings before income tax expense .......... 532,786 101,165 — 633,951
Income tax expense ........................ 197,045 38,624 — 235,669
Net earnings............................ $ 335,741 $ 62,541 $ — $ 398,282
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
F-37
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)