Staples 2005 Annual Report Download - page 114

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STAPLES, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
C-29
NOTE M Guarantor Subsidiaries (Continued)
Condensed Consolidating Statement of Income
For the year ended January 29, 2005
(in thousands)
Staples, Inc.
(Parent Co.)
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Consolidated
Sales.................................................... $ — $9,608,652 $4,839,726 $14,448,378
Cost of goodssold 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) beforeincometaxes.......................... (32,253) 712,508 435,317 1,115,572
Income tax expense....................................... — 267,721 139,463 407,184
Netincome(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.
(Parent Co.)
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Consolidated
Sales.................................................... $ — $8,744,624 $4,222,398 $12,967,022
Cost of goodssold 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) beforeincometaxes.......................... (17,605) 487,965 307,752 778,112
Income tax expense....................................... — 185,984 101,917 287,901
Netincome(loss)......................................... $(17,605) $ 301,981 $ 205,835 $ 490,211