Staples 2005 Annual Report Download - page 89

Download and view the complete annual report

Please find page 89 of the 2005 Staples annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 124

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124

C-4
STAPLES, INC. AND SUBSIDIARIES
Consolidated Statements of Income
(Dollar Amounts in Thousands, Except Share Data)
Fiscal Year Ended
January 28, January 29, January 31,
2006 2005 2004
Sales........................................................... $ 16,078,852 $ 14,448,378 $ 12,967,022
Cost of goodssold and occupancy costs ............................ 11,493,310 10,343,643 9,468,890
Grossprofit ................................................ 4,585,542 4,104,735 3,498,132
Operating and other expenses:
Operating and selling .......................................... 2,617,958 2,359,551 2,167,764
General and administrative..................................... 641,296 610,568 524,094
Amortization ofintangibles..................................... 13,008 8,743 7,986
Total operating expenses..................................... 3,272,262 2,978,862 2,699,844
Operating income........................................... 1,313,280 1,125,873 798,288
Other income (expense):
Interest income............................................... 59,937 31,042 10,135
Interest expense............................................... (56,773) (39,888) (31,575)
Miscellaneous income (expense) ................................ (1,945) (1,455) 1,264
Incomebefore income taxes andminority interest............... 1,314,499 1,115,572 778,112
Income tax expense.............................................. 479,792 407,184 287,901
Incomebefore minority interests.............................. 834,707 708,388 490,211
Minorityinterest ................................................ 298 — —
NetIncome................................................. $ 834,409 $ 708,388 $ 490,211
Earnings per common share
Basic ........................................................ $ 1.14 $ 0.95 $ 0.68
Diluted ...................................................... $ 1.12 $ 0.93 $ 0.66
See notes to consolidated financial statements.