Staples 2006 Annual Report Download - page 127

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STAPLES, INC. AND SUBSIDIARIES
Notes To Consolidated Financial Statements (Continued)
C-23
NOTE K Segment Reporting (Continued)
February 3, 2007 January 28, 2006 January 29, 2005
Assets:
North American Retail...................................... $ 3,430,529 $ 3,472,130 $ 3,181,132
North American Delivery.................................... 1,986,795 2,042,065 1,784,662
International Operations .................................... 2,486,950 2,238,833 2,185,474
Total.................................................... 7,904,274 7,753,028 7,151,268
Elimination of net intercompany receivables ..................... 492,991 (20,308 ) (24,118)
Total consolidated assets .................................. $ 8,397,265 $ 7,732,720 $ 7,127,150
Geographic Information:
2006 2005 2004
Sales:
United States.................................................... $ 13,514,677 $ 11,967,718 $ 10,808,314
Canada......................................................... 2,287,302 2,015,456 1,712,867
International.................................................... 2,358,810 2,095,678 1,927,197
Consolidated.................................................... $ 18,160,789 $ 16,078,852 $ 14,448,378
February 3, 2007 January 28, 2006
Long-lived Assets:
United States.............................................................. $ 1,857,093 $ 1,667,475
Canada................................................................... 271,660 275,672
International.............................................................. 1,566,443 1,469,279
Consolidated.............................................................. $ 3,695,196 $ 3,412,426
NOTE L Guarantor Subsidiaries
Under the terms of the Company’s Notes and Senior Notes, certain subsidiaries guarantee repayment of the debt.
The Notes and Senior Notes are fully and unconditionally guaranteed on an unsecured, joint and several basis by Staples
the Office Superstore, LLC, Staples the Office Superstore East, Inc., Staples Contract & Commercial, Inc., and Staples
the Office Superstore, Limited Partnership, all of which are wholly owned subsidiaries of Staples (the “Guarantor
Subsidiaries”). The term of guarantees is equivalent to the term of the related debt. The following condensed
consolidating financial data is presented for the holders of the Notes and Senior Notes and illustrates the composition of
Staples, Inc. (the “Parent Company”), Guarantor Subsidiaries, and non-guarantor subsidiaries as of February 3, 2007 and
January 28, 2006 and for the fiscal years ended February 3, 2007, January 28, 2006 and January 29, 2005. The non-
guarantor subsidiaries represent more than an inconsequential portion of the consolidated assets and revenues of
Staples.
Investments in subsidiaries are accounted for by the Parent Company on the equity method for purposes of the
supplemental consolidating presentation. Earnings of subsidiaries are, therefore, reflected in the Parent Company’s
investment accounts and earnings. The principal elimination entries eliminate the Parent Company’s investment in
subsidiaries and intercompany balances and transactions.