Staples 2004 Annual Report Download - page 120

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STAPLES, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
NOTE M Guarantor Subsidiaries (Continued)
Condensed Consolidating Statement of Income
For the year ended January 29, 2005
(in thousands)
Staples, Inc. Non-
(Parent Guarantor Guarantor
Co.) Subsidiaries Subsidiaries Consolidated
Sales ............................................ $ — $9,608,652 $4,839,726 $14,448,378
Cost of goods sold and occupancy costs .................. 1,491 6,930,858 3,411,294 10,343,643
Gross profit (loss) .................................. (1,491) 2,677,794 1,428,432 4,104,735
Operating and other expenses ......................... 30,762 1,965,286 993,115 2,989,163
Income (loss) before income taxes ...................... (32,253) 712,508 435,317 1,115,572
Income tax expense ................................. — 267,721 139,463 407,184
Net income (loss) .................................. $(32,253) $ 444,787 $ 295,854 $ 708,388
Condensed Consolidating Statement of Income
For the year ended January 31, 2004
(in thousands)
Staples, Inc. Non-
(Parent Guarantor Guarantor
Co.) Subsidiaries Subsidiaries Consolidated
Sales ............................................ $ — $8,744,624 $4,222,398 $12,967,022
Cost of goods sold and occupancy costs .................. 1,309 6,480,153 2,987,428 9,468,890
Gross profit (loss) .................................. (1,309) 2,264,471 1,234,970 3,498,132
Operating and other expenses ......................... 16,296 1,776,506 927,218 2,720,020
Income (loss) before income taxes ...................... (17,605) 487,965 307,752 778,112
Income tax expense ................................. — 185,984 101,917 287,901
Net income (loss) .................................. $(17,605) $ 301,981 $ 205,835 $ 490,211
Condensed Consolidating Statement of Income
For the year ended February 1, 2003
(in thousands)
Staples, Inc. Non-
(Parent Guarantor Guarantor
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 (loss) .................................. (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 (loss) 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
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