Staples 2003 Annual Report Download - page 67

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STAPLES, INC. AND SUBSIDIARIES
Consolidated Statements of Income
(Dollar Amounts in Thousands, Except Share Data)
Fiscal Year Ended
February 1, February 2, February 3,
2003 2002 2001
Sales ................................................... $11,596,075 $10,744,373 $10,673,671
Cost of goods sold and occupancy costs .......................... 8,652,593 8,173,880 8,097,166
Gross profit ........................................... 2,943,482 2,570,493 2,576,505
Operating and other expenses:
Operating and selling ..................................... 1,795,428 1,651,846 1,643,162
Pre-opening ............................................ 8,746 13,685 22,297
General and administrative ................................. 454,501 379,505 409,575
Amortization of intangibles ................................. 2,135 — —
Amortization of goodwill ................................... — 6,584 13,628
Asset impairment and other charges ........................... — 10,717 205,750
Store closure charge (credit) ................................ — 50,092 (7,250)
Interest and other expense, net .............................. 20,609 27,219 45,158
Total operating and other expenses .......................... 2,281,419 2,139,648 2,332,320
Income before income taxes ............................... 662,063 430,845 244,185
Income tax expense ........................................ 215,963 165,875 184,473
Net income ........................................... $ 446,100 $ 264,970 $ 59,712
Net income (loss) attributed to:
Staples, Inc. Stock ........................................ $ 446,100 $ 185,110 $ —
Staples RD Stock ........................................ — 79,740 71,197
Staples.com Stock ........................................ — 120 (11,485)
$ 446,100 $ 264,970 $ 59,712
Basic earnings (loss) per common share—historical
Staples, Inc. Stock ........................................ $ 0.96 $ 0.40 $ —
Staples RD Stock ........................................ $ — $ 0.18 $ 0.16
Staples.com Stock ........................................ $ — $ 0.01 $ (0.84)
Diluted earnings (loss) per common share—historical
Staples, Inc. Stock ........................................ $ 0.94 $ 0.40 $ —
Staples RD Stock ........................................ $ — $ 0.17 $ 0.15
Staples.com Stock ........................................ $ — $ 0.01 $ (0.84)
See notes to consolidated financial statements.
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