Staples 2004 Annual Report Download - page 94

STAPLES, INC. AND SUBSIDIARIES
Consolidated Balance Sheets
(Dollar Amounts in Thousands, Except Share Data)
January 29, January 31,
2005 2004
ASSETS
Current assets:
Cash and cash equivalents .............................................. $ 997,310 $ 457,465
Short-term investments ................................................ 472,231 934,275
Receivables, net ..................................................... 485,126 410,330
Merchandise inventories, net ............................................ 1,602,530 1,465,989
Deferred income tax asset .............................................. 86,041 96,247
Prepaid expenses and other current assets ................................... 138,374 114,598
Total current assets ................................................. 3,781,612 3,478,904
Property and equipment:
Land and buildings ................................................... 649,175 601,063
Leasehold improvements ............................................... 762,946 692,837
Equipment ......................................................... 1,140,234 1,045,605
Furniture and fixtures ................................................. 597,293 533,104
Total property and equipment .......................................... 3,149,648 2,872,609
Less accumulated depreciation and amortization .............................. 1,548,774 1,367,308
Net property and equipment ........................................... 1,600,874 1,505,301
Lease acquisition costs, net of accumulated amortization ......................... 38,400 44,227
Intangible assets, net of accumulated amortization .............................. 222,520 209,541
Goodwill ............................................................ 1,321,464 1,202,007
Other assets .......................................................... 106,578 63,066
Total assets ....................................................... $7,071,448 $6,503,046
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable .................................................... $1,241,433 $1,110,631
Accrued expenses and other current liabilities ................................ 954,184 822,453
Debt maturing within one year ........................................... 1,244 190,150
Total current liabilities ............................................... 2,196,861 2,123,234
Long-term debt ....................................................... 557,927 567,433
Deferred income tax liability .............................................. 23,314 7,563
Other long-term obligations .............................................. 178,150 141,916
Stockholders’ Equity:
Preferred stock, $.01 par value, 5,000,000 shares authorized; no shares issued ......... — —
Common stock, $.0006 par value, 2,100,000,000 shares authorized; issued 542,032,757
shares at January 29, 2005 and 527,121,843 shares at January 31, 2004 ............ 325 316
Additional paid-in capital ............................................... 2,255,110 1,933,379
Cumulative foreign currency translation adjustments ........................... 114,427 81,002
Retained earnings .................................................... 2,818,163 2,209,302
Less: treasury stock at cost, 45,698,391 shares at January 29, 2005 and 27,927,347 shares
at January 31, 2004 ................................................. (1,072,829) (561,099)
Total stockholders’ equity ............................................. 4,115,196 3,662,900
Total liabilities and stockholders’ equity .................................. $7,071,448 $6,503,046
See notes to consolidated financial statements.
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