GameStop 2010 Annual Report Download - page 75

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Table of Contents
GAMESTOP CORP.
CONSOLIDATED STATEMENTS OF OPERATIONS
52 Weeks 52 Weeks 52 Weeks
Ended Ended Ended
January 29, January 30, January 31,
2011 2010 2009
(In millions, except per share data)
Sales $ 9,473.7 $ 9,078.0 $ 8,805.9
Cost of sales 6,936.1 6,643.3 6,535.8
Gross profit 2,537.6 2,434.7 2,270.1
Selling, general and administrative expenses 1,700.3 1,635.1 1,445.4
Depreciation and amortization 174.7 162.6 145.0
Merger-related expenses — — 4.6
Operating earnings 662.6 637.0 675.1
Interest income (1.8) (2.2) (11.6)
Interest expense 37.0 45.4 50.4
Debt extinguishment expense 6.0 5.3 2.3
Earnings before income tax expense 621.4 588.5 634.0
Income tax expense 214.6 212.8 235.7
Consolidated net income 406.8 375.7 398.3
Net loss attributable to noncontrolling interests 1.2 1.6 —
Consolidated net income attributable to GameStop $ 408.0 $ 377.3 $ 398.3
Basic net income per common share(1) $ 2.69 $ 2.29 $ 2.44
Diluted net income per common share(1) $ 2.65 $ 2.25 $ 2.38
Weighted average shares of common stock — basic 151.6 164.5 163.2
Weighted average shares of common stock — diluted 154.0 167.9 167.7
(1) Basic net income per share and diluted net income per share are calculated based on consolidated net income attributable to GameStop.
See accompanying notes to consolidated financial statements.
F-5