Staples 2005 Annual Report Download - page 113

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STAPLES, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
C-28
NOTE M Guarantor Subsidiaries (Continued)
Condensed Consolidating Balance Sheet
As of January 29, 2005
(in thousands)
Staples, Inc.
(Parent Co.)
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Cashandcashequivalents.................... $ 529,275 $ 44,300 $ 423,735 $ — $ 997,310
Short-terminvestments ...................... 472,231 — — — 472,231
Merchandise inventories ..................... — 1,004,819 597,711 — 1,602,530
Other current assets ......................... 80,358 255,319 373,864 — 709,541
Totalcurrentassets...................... 1,081,864 1,304,438 1,395,310 — 3,781,612
Net property, equipment and other assets ...... 239,982 920,213 808,177 — 1,968,372
Goodwill,net of amortization................. 140,570 52,067 1,128,827 — 1,321,464
Investment in affiliates and intercompany, net . . 374,885 2,013,548 882,308 (3,270,741) —
Totalassets............................. $1,837,301 $4,290,266 $4,214,622 $(3,270,741) $ 7,071,448
Totalcurrentliabilities....................... $ 277,470 $1,045,733 $ 873,658 $ — $ 2,196,861
Total long-term liabilities..................... 26,208 600,554 132,629 — 759,391
Total stockholders’ equity .................... 1,533,623 2,643,979 3,208,335 (3,270,741) 4,115,196
Totalliabilitiesandstockholders’equity.... $1,837,301 $4,290,266 $4,214,622 $(3,270,741) $ 7,071,448
Condensed Consolidating Statement of Income
For the year ended January 28, 2006
(in thousands)
Staples, Inc.
(Parent Co.)
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Consolidated
Sales.................................................. $ — $10,649,559 $5,429,293 $16,078,852
Cost of goodssold and occupancy costs ................... (1,565) 7,648,788 3,846,087 11,493,310
Gross profit (loss)...................................... 1,565 3,000,771 1,583,206 4,585,542
Operating and other expenses............................ 3,167 2,053,316 1,214,560 3,271,043
Income(loss)before income taxes and minority interest..... (1,602) 947,455 368,646 1,314,499
Income tax expense..................................... — 359,316 120,476 479,792
Income (loss) beforeminorityinterest..................... (1,602) 588,139 248,170 834,707
Minority interest ....................................... — — 298 298
Net income (loss)....................................... $(1,602) $ 588,139 $ 247,872 $ 834,409