Staples 2002 Annual Report Download - page 92

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STAPLES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
NOTE N Guarantor Subsidiaries (Continued)
CONDENSED CONSOLIDATING STATEMENT OF INCOME
For the year ended February 1, 2003
(in thousands)
Non-
Staples, Inc. Guarantor Guarantor
(Parent Co.) Subsidiaries Subsidiaries Consolidated
Sales $ — $8,267,822 $3,328,253 $11,596,075
Cost of goods sold and occupancy costs ........................ 1,054 6,215,784 2,435,755 8,652,593
Gross profit ........................................... (1,054) 2,052,038 892,498 2,943,482
Operating and other expenses .............................. 22,972 1,609,334 649,113 2,281,419
Income before income taxes ................................ (24,026) 442,704 243,385 662,063
Income tax expense ..................................... — 131,349 84,614 215,963
Net income (loss) ....................................... $(24,026) $ 311,355 $ 158,771 $ 446,100
CONDENSED CONSOLIDATING STATEMENT OF INCOME
For the year ended February 2, 2002
(in thousands)
Non-
Staples, Inc. Guarantor Guarantor
(Parent Co.) Subsidiaries Subsidiaries Consolidated
Sales $ — $7,882,153 $2,862,220 $10,744,373
Cost of goods sold and occupancy costs ........................ 702 6,032,625 2,140,553 8,173,880
Gross profit ........................................... (702) 1,849,528 721,667 2,570,493
Operating and other expenses .............................. 23,050 1,582,170 534,428 2,139,648
Income before income taxes ................................ (23,752) 267,358 187,239 430,845
Income tax expense ..................................... — 106,901 58,974 165,875
Net income (loss) ....................................... $(23,752) $ 160,457 $ 128,265 $ 264,970
CONDENSED CONSOLIDATING STATEMENT OF INCOME
For the year ended February 3, 2001
(in thousands)
Non-
Staples, Inc. Guarantor Guarantor
(Parent Co.) Subsidiaries Subsidiaries Consolidated
Sales $ — $7,826,541 $2,847,130 $10,673,671
Cost of goods sold and occupancy costs ........................ 757 5,960,871 2,135,538 8,097,166
Gross profit ........................................... (757) 1,865,670 711,592 2,576,505
Operating and other expenses .............................. 88,812 1,680,241 563,267 2,332,320
Income before income taxes ................................ (89,569) 185,429 148,325 244,185
Income tax (benefit) expense ............................... (3,224) 124,629 63,068 184,473
Net income (loss) ....................................... $(86,345) $ 60,800 $ 85,257 $ 59,712
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