Staples 2003 Annual Report Download - page 88

Download and view the complete annual report

Please find page 88 of the 2003 Staples annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 100

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100

STAPLES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
NOTE L Computation of Earnings per Common Share (Continued)
Stock for the six months ended August 4, 2001 and the fiscal year ended February 3, 2001. (in thousands, except per
share data):
26 Weeks Ended
Fiscal Year Ended 26 Weeks Ended August 4, 2001
February 1, 2003 February 2, 2002
Staples, Inc. Staples, Inc. Staples RD Staples.com
Numerator:
Net income .................................. $446,100 $185,110 $ 79,740 $ 120
Denominator:
Weighted-average common shares outstanding ......... 466,768 460,362 455,399 7,980
Effect of dilutive securities:
Employee stock options and restricted stock .......... 5,927 6,129 5,980 1,839
Weighted-average shares assuming dilution ............. 472,695 466,491 461,379 9,819
Basic earnings per common share ................... $ 0.96 $ 0.40 $ 0.18 $ 0.01
Diluted earnings per common share .................. $ 0.94 $ 0.40 $ 0.17 $ 0.01
Fiscal Year Ended
February 3, 2001
Staples RD Staples.com
Numerator:
Net income (loss) ...................................................... $71,197 $(11,485)
Denominator:
Weighted-average shares outstanding ........................................ 454,490 13,665
Effect of dilutive securities:
Employee stock options and restricted stock .................................. 6,301 —
Weighted-average shares assuming dilution ..................................... 460,791 13,665
Basic earnings (loss) per common share ....................................... $ 0.16 $ (0.84)
Diluted earnings (loss) per common share ...................................... $ 0.15 $ (0.84)
Options to purchase shares of common stock are excluded from the calculation of diluted earnings per share when
their inclusion would have an anti-dilutive effect on the calculation. Options to purchase 15.6 million shares of Staples, Inc.
Stock were excluded from the calculation of diluted earnings per share for the fiscal year ended February 1, 2003; options
to purchase 17.5 million shares of Staples, Inc. Stock were excluded from the calculation of diluted earnings per share for
the twenty-six weeks ended February 2, 2002; options to purchase 15.8 million shares of Staples RD Stock and 3.7 million
shares of Staples.com Stock were excluded from the calculation of diluted earnings per share for the twenty-six weeks
ended August 4, 2001; options to purchase 20.3 million shares of Staples RD Stock and 6.7 million shares of Staples.com
Stock were excluded from the calculation of diluted earnings per share in fiscal year 2000.
NOTE M Segment Reporting
Staples has three reportable segments: North American Retail, North American Delivery, and European Opera-
tions. Staples’ North American Retail segment consists of the U.S and Canadian business units that operate office supply
stores. The North American Delivery segment consists of the U.S. and Canadian business units that sell and deliver
office products and services directly to customers, and includes Staples Business Delivery (North American catalog and
internet operations), Staples’ contract stationer operations (Staples National Advantage and Staples Business Advan-
tage) and Quill. The European Operations segment consists of operating units that operate office supply stores in the
United Kingdom, Germany, the Netherlands and Portugal and that sell and deliver office products and services directly
to customers throughout the United Kingdom, France, Belgium, Spain, Italy and Germany.
C-25