Staples 2003 Annual Report Download - page 66

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STAPLES, INC. AND SUBSIDIARIES
Consolidated Balance Sheets
(Dollar Amounts in Thousands, Except Share Data)
February 1, February 2,
2003 2002
ASSETS
Current Assets:
Cash and cash equivalents .............................................. $ 596,064 $ 394,824
Merchandise inventories, net ............................................ 1,555,205 1,459,792
Receivables, net ..................................................... 364,419 338,581
Deferred income taxes ................................................. 96,229 117,560
Prepaid expenses and other current assets ................................... 105,559 92,070
Total current assets ................................................. 2,717,476 2,402,827
Property and Equipment:
Land and buildings ................................................... 524,730 433,569
Leasehold improvements ............................................... 621,713 552,250
Equipment ......................................................... 951,439 820,053
Furniture and fixtures ................................................. 472,935 406,565
Total property and equipment .......................................... 2,570,817 2,212,437
Less accumulated depreciation and amortization .............................. 1,123,065 853,685
Net property and equipment ........................................... 1,447,752 1,358,752
Lease Acquisition Costs, Net of Accumulated Amortization ........................ 51,450 54,557
Intangible Assets, Net of Accumulated Amortization ............................. 216,391 —
Goodwill ............................................................ 1,207,824 223,718
Other Assets ......................................................... 80,495 53,181
Total assets ....................................................... $5,721,388 $4,093,035
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable .................................................... $1,092,172 $ 935,442
Accrued expenses and other current liabilities ................................ 755,483 655,274
Debt maturing within one year ........................................... 327,671 4,983
Total current liabilities ............................................... 2,175,326 1,595,699
Long-Term Debt ....................................................... 732,041 350,225
Deferred Tax Liability ................................................... 50,267 6,738
Other Long-Term Obligations ............................................. 104,862 86,199
Stockholders’ Equity:
Preferred stock, $.01 par value, 5,000,000 shares authorized; no shares issued ......... — —
Common stock:
Staples, Inc. Stock, $.0006 par value, 2,100,000,000 shares authorized;
issued 500,831,408 shares at February 1, 2003 and 491,564,105 at February 2, 2002 . . 299 295
Additional paid-in capital ............................................... 1,484,833 1,364,355
Cumulative foreign currency translation adjustments ........................... 11,481 (27,129)
Retained earnings .................................................... 1,719,091 1,272,991
Less: Staples, Inc. treasury stock at cost, 27,724,578 shares at February 1, 2003,
and 27,569,880 shares at February 2, 2002 ................................. (556,812) (556,338)
Total stockholders’ equity ............................................. 2,658,892 2,054,174
Total liabilities and stockholders’ equity .................................. $5,721,388 $4,093,035
See notes to consolidated financial statements.
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