Staples 2006 Annual Report Download - page 131

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STAPLES, INC. AND SUBSIDIARIES
Notes To Consolidated Financial Statements (Continued)
C-27
NOTE L Guarantor Subsidiaries (Continued)
Consolidating Statement of Cash Flows
For the year ended January 29, 2005
(in thousands)
Non-
Staples, Inc. Guarantor Guarantor
(Parent Co.) Subsidiaries Subsidiaries Consolidated
Net cash provided by operating activities................ $ 694,499 $ 129,133 $ 314,371 $ 1,138,003
Investing activities:
Acquisition of property, equipment and lease rights . . . . (62,647) (169,674) (103,114 ) (335,435)
Acquisition of businesses, net of cash acquired ........ — (4,901) (106,756 ) (111,657)
Investment in joint venture.......................... (29,330) — — (29,330)
Purchase of short-term investments.................. (10,246,652) — — (10,246,652)
Proceeds from the sale of short-term investments...... 10,698,696 — 10,000 10,708,696
Cash provided by (used in) investing activities . . ......... 360,067 (174,575) (199,870 ) (14,378)
Financing activities:
Payments on borrowings............................ (235,081) — — (235,081)
Purchase of treasury shares ......................... (511,730) — — (511,730)
Excess tax benefits from stock-based compensation
arrangements ................................... 3,379 34,235 3,591 41,205
Cash dividends paid................................ (99,527) — — (99,527)
Other ............................................ 206,394 — — 206,394
Cash (used in) provided by financing activities........... (636,565) 34,235 3,591 (598,739)
Effect of exchange rate changes on cash ................ — — 14,959 14,959
Net increase (decrease) in cash........................ 418,001 (11,207) 133,051 539,845
Cash and cash equivalents at beginning of period ........ 111,274 55,507 290,684 457,465
Cash and cash equivalents at end of period .............. $ 529,275 $ 44,300 $ 423,735 $ 997,310
NOTE M Quarterly Summary (Unaudited)
(In thousands, except per share amounts)
First
Quarter
Second
Quarter
Third
Quarter (3)
Fourth
Quarter (4)
Fiscal Year Ended February 3, 2007(1)
Sales ................................................... $ 4,237,646 $ 3,880,674 $ 4,756,550 $ 5,285,919
Gross profit............................................. 1,188,997 1,096,604 1,362,458 1,545,942
Net income ............................................. 186,074 161,177 289,928 336,498
Basic earnings per common share(2) ......................... $ 0.26 $ 0.22 $ 0.40 $ 0.47
Diluted earnings per share(2) ............................... $ 0.25 $ 0.22 $ 0.39 $ 0.46
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Fiscal Year Ended January 28, 2006(1)
Sales................................................... $ 3,899,052 $ 3,471,964 $ 4,245,519 $ 4,462,317
Gross profit............................................. 1,061,852 989,386 1,220,698 1,310,682
Net income ............................................. 147,742 135,177 224,486 276,712
Basic earnings per common share(2) ......................... $ 0.20 $ 0.18 $ 0.31 $ 0.38
Diluted earnings per share (2)............................... $ 0.20 $ 0.18 $ 0.30 $ 0.37
(1) Results of operations for this period include the results of acquisitions since their acquisition dates (see Note B).