Staples 2005 Annual Report Download - page 117

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STAPLES, INC. AND SUBSIDIARIES
Notes To Consolidated Financial Statements (Continued)
C-32
Note M Guarantor Subsidiaries (Continued)
Condensed Consolidating Statement of Cash Flows
For the year ended January 31, 2004
(in thousands)
Non-
Staples, Inc. Guarantor Guarantor
(Parent Co.) Subsidiaries Subsidiaries Consolidated
Net cash provided by operating activities .................. $ 601,508 $ 204,795 $213,429 $ 1,019,732
Investing activities:
Acquisition of property, equipment and lease rights ...... (21,092) (177,520) (79,181) (277,793)
Acquisition of businesses, net of cash acquired ........... — — (2,910) (2,910)
Purchase of short-term investments..................... (9,004,125) — (10,000) (9,014,125)
Proceeds from the sale of short term investments......... 8,180,025 — — 8,180,025
Cash usedin investingactivities .......................... (845,192) (177,520) (92,091) (1,114,803)
Financing activities:
Payments on borrowings .............................. (325,235) (25,000) — (350,235)
Proceeds from borrowingsand other.................... 389,793 (4,287) — 385,506
Cash provided by (used in)financing activities ............. 64,558 (29,287) — 35,271
Effect of exchange rate changes on cash................... — — 21,376 21,376
Net (decrease) increase in cash........................... (179,126) (2,012) 142,714 (38,424)
Cash and cash equivalents at beginning of period........... 290,400 57,519 147,970 495,889
Cash and cash equivalents at end of period ................ $ 111,274 $ 55,507 $290,684 $ 457,465
NOTE N Quarterly Summary (Unaudited)
(In thousands, except per share amounts)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Fiscal Year Ended January 28, 2006(1)
Sales................................................... $3,899,052 $3,471,964 $4,245,519 $4,462,317
Grossprofit ............................................ 1,062,532 990,073 1,221,458 1,311,479
Netincome............................................. 159,426 147,178 237,824 289,981
Basicearningspercommonshare(2)......................... $ 0.22 $ 0.20 $ 0.33 $ 0.40
Dilutedearningspershare(2)............................... $ 0.21 $ 0.20 $ 0.32 $ 0.39
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Fiscal Year Ended January 29, 2005(1)
Sales................................................... $3,452,155 $3,089,252 $3,830,466 $4,076,505
Grossprofit ............................................ 935,625 870,685 1,096,216 1,202,209
Netincome............................................. 125,731 122,466 208,866 251,324
Basicearningspercommonshare(2)......................... $ 0.17 $ 0.17 $ 0.28 $ 0.34
Dilutedearningspershare(2)............................... $ 0.17 $ 0.16 $ 0.28 $ 0.33
(1) Results of operations for this period include the results of acquisitions since their acquisition dates (see Note C).
(2) All share and per share amounts reflect, or have been restated to reflect, the three-for-two common stock split that
was effected in the form of a common stock dividend distributed on April 15, 2005.