GameStop 2011 Annual Report Download - page 79

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GAMESTOP CORP.
CONSOLIDATED STATEMENTS OF OPERATIONS
52 Weeks
Ended
January 28,
2012
52 Weeks
Ended
January 29,
2011
52 Weeks
Ended
January 30,
2010
(In millions, except per share data)
Sales ........................................................ $9,550.5 $9,473.7 $9,078.0
Cost of sales .................................................. 6,871.0 6,936.1 6,643.3
Gross profit ................................................. 2,679.5 2,537.6 2,434.7
Selling, general and administrative expenses ......................... 1,842.1 1,698.8 1,633.3
Depreciation and amortization .................................... 186.3 174.7 162.6
Asset impairments and restructuring charges ......................... 81.2 1.5 1.8
Operating earnings ........................................... 569.9 662.6 637.0
Interest income ................................................ (0.9) (1.8) (2.2)
Interest expense ............................................... 20.7 37.0 45.4
Debt extinguishment expense ..................................... 1.0 6.0 5.3
Earnings before income tax expense ............................. 549.1 621.4 588.5
Income tax expense ............................................. 210.6 214.6 212.8
Consolidated net income ......................................... 338.5 406.8 375.7
Net loss attributable to noncontrolling interests ....................... 1.4 1.2 1.6
Consolidated net income attributable to GameStop .................. $ 339.9 $ 408.0 $ 377.3
Basic net income per common share(1) ............................. $ 2.43 $ 2.69 $ 2.29
Diluted net income per common share(1) ........................... $ 2.41 $ 2.65 $ 2.25
Weighted average shares of common stock — basic ................... 139.9 151.6 164.5
Weighted average shares of common stock — diluted ................. 141.0 154.0 167.9
(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