Staples 2015 Annual Report Download - page 121

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STAPLES C-4
APPENDIX C
STAPLES, INC. AND SUBSIDIARIES
Consolidated Statements of Income
(Dollar Amounts in Millions, Except Share Data)
See notes to consolidated financial statements.
Fiscal Year Ended
January 30, 2016 January 31, 2015 February 1, 2014
Sales $21,059 $22,492 $23,114
Cost of goods sold and occupancy costs 15,545 16,691 17,082
Gross profit 5,514 5,801 6,032
Operating expenses:
Selling, general and administrative 4,600 4,816 4,735
Impairment of goodwill and long-lived assets 50 470 —
Restructuring charges 151 171 64
Amortization of intangibles 67 62 55
Total operating expenses 4,868 5,518 4,855
(Loss) gain on sale of businesses and assets, net (5) 27 —
Operating income 641 310 1,177
Other income (expense):
Interest income 3 3 5
Interest expense (139) (49) (119)
Other income (expense), net (13) 4 —
Income from continuing operations before income taxes 492 268 1,063
Income tax expense 113 133 356
Income from continuing operations 379 135 707
Discontinued operations:
Loss from discontinued operations, net of income taxes — — (87)
Net income $379 $135 $620
Basic Earnings Per Common Share:
Continuing operations $0.59 $0.21 $1.08
Discontinued operations — — (0.13)
Net income $0.59 $0.21 $0.95
Diluted Earnings per Common Share:
Continuing operations $0.59 $0.21 $1.07
Discontinued operations — — (0.13)
Net income $0.59 $0.21 $0.94
Dividends declared per common share $0.48 $0.48 $0.48