Staples 2007 Annual Report Download - page 132

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STAPLES, INC. AND SUBSIDIARIES
Notes To Consolidated Financial Statements (Continued)
NOTE L Guarantor Subsidiaries (Continued)
Condensed Consolidating Statement of Income
For the year ended February 2, 2008
(in thousands)
Non-
Staples, Inc. Guarantor Guarantor
(Parent Co.) Subsidiaries Subsidiaries Consolidated
Sales ........................................... $ — $12,661,177 $6,711,505 $19,372,682
Cost of goods sold and occupancy costs .................. 10,573 9,203,539 4,607,899 13,822,011
Gross profit (loss) ................................. (10,573) 3,457,638 2,103,606 5,550,671
Operating and other expenses ......................... (24,894) 2,581,068 1,440,015 3.996,189
Income before income taxes and minority interest .......... 14,321 876,570 663,591 1,554,482
Income tax expense ................................ — 360,893 198,721 559,614
Income before minority interest ....................... 14,321 515,677 464,870 994,868
Minority interest .................................. — — (802) (802)
Net income ...................................... $14,321 $ 515,677 $ 465,672 $ 995,670
Condensed Consolidating Statement of Income
For the year ended February 3, 2007
(in thousands)
Non-
Staples, Inc. Guarantor Guarantor
(Parent Co.) Subsidiaries Subsidiaries Consolidated
Sales .......................................... $ — $12,069,327 $ 6,091,462 $18,160,789
Cost of goods sold and occupancy costs 8,459 8,665,100 4,293,229 12,966,788
Gross profit (loss) ................................ (8,459) 3,404,227 1,798,233 5,194,001
Operating and other expenses ........................ 344,519 2,283,044 1,095,110 3,722,673
Income (loss) before income taxes and minority interest ..... (352,978) 1,121,183 703,123 1,471,328
Income tax expense ............................... — 259,428 238,544 497,972
Income (loss) before minority interest .................. (352,978) 861,755 464,579 973,356
Minority interest ................................. — — (321) (321)
Net income (loss) ................................. $(352,978) $ 861,755 $ 464,900 $ 973,677
Condensed Consolidating Statement of Income
For the year ended January 28, 2006
(in thousands)
Non-
Staples, Inc. Guarantor Guarantor
(Parent Co.) Subsidiaries Subsidiaries Consolidated
Sales ........................................... $ — $10,649,559 $5,429,293 $16,078,852
Cost of goods sold and occupancy costs .................. 3,957 7,646,490 3,845,787 11,496,234
Gross profit (loss) ................................. (3,957) 3,003,069 1,583,506 4,582,618
Operating and other expenses ......................... 76,844 1,983,815 1,286,660 3,347,319
Income (loss) before income taxes and minority interest ...... (80,801) 1,019,254 296,846 1,235,299
Income tax expense ................................ — 337,635 113,249 450,884
Income (loss) before minority interest ................... (80,801) 681,619 183,597 784,415
Minority interest .................................. — — 298 298
Net income (loss) ................................. $(80,801) $ 681,619 $ 183,299 $ 784,117
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