Staples 2006 Annual Report Download - page 129

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STAPLES, INC. AND SUBSIDIARIES
Notes To Consolidated Financial Statements (Continued)
C-25
NOTE L Guarantor Subsidiaries (Continued)
Condensed Consolidating Statement of Income
For the year ended February 3, 2007
(in thousands)
Non-
Staples, Inc. Guarantor Guarantor
(Parent Co.) Subsidiaries Subsidiaries Consolidated
Sales................................................. $ — $ 12,069,327 $ 6,091,462 $ 18,160,789
Cost of goods sold and occupancy costs................... 8,459 8,665,100 4,293,229 12,966,788
Gross profit (loss)...................................... (8,459) 3,404,227 1,798,233 5,194,001
Operating and other expenses........................... 344,519 2,283,044 1,095,110 3,722,673
Income (loss) before income taxes and minority interest.... (352,978) 1,121,183 703,123 1,471,328
Income tax expense . . . ................................. — 396,884 101,088 497,972
Income (loss) before minority interest.................... (352,978) 724,299 602,035 973,356
Minority interest income................................ — — (321 ) (321)
Net income (loss)...................................... $ (352,978) $ 724,299 $ 602,356 $ 973,677
Condensed Consolidating Statement of Income
For the year ended January 28, 2006
(in thousands)
Non-
Staples, Inc. Guarantor Guarantor
(Parent Co.) Subsidiaries Subsidiaries Consolidated
Sales................................................... $ — $ 10,649,559 $ 5,429,293 $ 16,078,852
Cost of goods sold and occupancy costs..................... 3,957 7,646,490 3,845,787 11,496,234
Gross profit (loss)........................................ (3,957) 3,003,069 1,583,506 4,582,618
Operating and other expenses............................. 76,844 1,983,815 1,286,660 3,347,319
Income (loss) before income taxes and minority interest...... (80,801) 1,019,254 296,846 1,235,299
Income tax expense . . . ................................... — 337,635 113,249 450,884
Income (loss) before minority interest...................... (80,801) 681,619 183,597 784,415
Minority interest......................................... — — 298 298
Net income (loss)........................................ $ (80,801) $ 681,619 $ 183,299 $ 784,117
Condensed Consolidating Statement of Income
For the year ended January 29, 2005
(in thousands)
Non-
Staples, Inc. Guarantor Guarantor
(Parent Co.) Subsidiaries Subsidiaries Consolidated
Sales .................................................. $ — $ 9,608,652 $ 4,839,726 $ 14,448,378
Cost of goods sold and occupancy costs.................... 6,019 6,929,519 3,410,518 10,346,056
Gross profit (loss)....................................... (6,019) 2,679,133 1,429,208 4,102,322
Operating and other expenses............................ 95,231 1,889,944 1,070,572 3,055,747
Income (loss) before income taxes ........................ (101,250) 789,189 358,636 1,046,575
Income tax expense . . . .................................. — 256,635 125,365 382,000
Net income (loss)....................................... $ (101,250) $ 532,554 $ 233,271 $ 664,575