GameStop 2014 Annual Report Download - page 56

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Consolidated Results of Operations
The following table sets forth certain statement of operations items (in millions) and as apercentage of net sales, for the
periods indicated:
52 Weeks Ended
January 31, 2015
52 Weeks Ended
February 1, 2014
53 Weeks Ended
February 2, 2013
Dollars Percent Dollars Percent Dollars Percent
Statement of Operations Data:
Net sales............................................................... $9,296.0 100.0%$9,039.5100.0%$8,886.7100.0 %
Cost of sales ......................................................... 6,520.170.16,378.4 70.6 6,235.2 70.2
Gross profit .......................................................... 2,775.929.92,661.1 29.4 2,651.529.8
Selling, general and administrativeexpenses ...... 2,001.021.61,892.4 21.0 1,835.9 20.7
Depreciation and amortization............................. 154.41.7 166.5 1.8 176.5 2.0
Goodwill impairments ......................................... —— 10.2 0.1627.0 7.0
Asset impairments................................................ 2.2— 18.5 0.253.70.6
Operating earnings (loss) ..................................... 618.36.6 573.5 6.3 (41.6) (0.5)
Interest expense, net............................................. 10.0 0.14.7 —3.3 —
Earnings (loss) before income tax expense.......... 608.36.5 568.86.3 (44.9) (0.5)
Income tax expense.............................................. 215.22.3 214.62.4 224.92.5
Net income (loss) ................................................. 393.14.2 354.23.9 (269.8) (3.0)
Net loss attributable to noncontrollinginterests .. —— —— 0.1—
Net income (loss) attributable to GameStop
Corp...................................................................... $393.1 4.2% $354.2 3.9% $(269.7) (3.0)%
We include purchasing, receiving and distribution costs in selling, general and administrative expenses, rather than in cost of
sales, in the statement of operations. We includeprocessingfeesassociated with purchases made by check and credit cards in cost
of sales, rather than selling, general and administrative expenses, in the statement of operations. As aresultofthese classifications,
our gross margins are not comparable to those retailers that include purchasing, receiving and distribution costs in cost of sales
and include processing fees associated with purchases made by check and credit cards in selling, general and administrative
expenses. The net effect of these classifications as apercentage of sales has not historically been material.
The following table sets forth net sales (in millions) and percentages of total net sales by significant product category for the
periods indicated:
52 Weeks Ended
January 31, 2015
52 Weeks Ended
February 1, 2014
53 Weeks Ended
February 2, 2013
Net
Sales
Percent
of Total
Net
Sales
Percent
of Total
Net
Sales
Percent
of Total
Net Sales:
New video game hardware(1) ......... $2,028.7 21.8%$ 1,730.019.1% $1,333.4 15.0%
New video game software ............. 3,089.033.23,480.9 38.5 3,582.4 40.3
Pre-owned and valuevideo game
products ......................................... 2,389.325.72,329.8 25.8 2,430.5 27.4
Video game accessories................. 653.67.1 560.66.2 611.86.9
Digital ............................................ 216.32.3 217.72.4 208.42.3
Mobile and consumerelectronics.. 518.85.6 303.73.4 200.32.3
Other(2) ........................................... 400.34.3 416.84.6 519.95.8
Total............................................... $9,296.0 100.0%$ 9,039.5100.0%$ 8,886.7100.0%
___________________
(1) Includes sales of hardware bundles, in which physical hardware and digital or physical software are sold together as asingle
SKU.
(2) Other products include revenues from the sales of PC entertainment software, interactive toys and licensed merchandise,
strategy guides and revenues from PowerUp Pro loyalty members receiving Game Informer magazine in physical form.
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