Staples 2007 Annual Report Download - page 98

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APPENDIX A
STAPLES, INC. AND SUBSIDIARIES
SELECTED FINANCIAL DATA
(Dollar Amounts in Thousands, Except Per Share Data)
Fiscal Year Ended
February 2, February 3, January 28, January 29, January 31,
2008(2) 2007(3) 2006 2005 2004(4)(5)
(52 weeks) (53 weeks) (52 weeks) (52 weeks) (52 weeks)
Statement of Income Data:
Sales ..................................... $19,372,682 $18,160,789 $16,078,852 $14,448,378 $12,967,022
Gross profit ................................ 5,550,671 5,194,001 4,582,618 4,102,322 3,496,036
Net income ................................ 995,670 973,677 784,117 664,575 450,211
Basic earnings per common share(1): ............... 1.41 1.35 1.07 0.90 0.62
Diluted earnings per common share(1): ............. 1.38 1.32 1.04 0.87 0.61
Dividends(1) ............................... $ 0.29 $ 0.22 $ 0.17 $ 0.13 $ —
Statistical Data:
Stores open at end of period ................. 2,038 1,884 1,780 1,680 1,559
Balance Sheet Data:
Working capital .......................... $1,945,484 $ 1,642,980 $ 1,664,637 $ 1,584,751 $ 1,355,670
Total assets ............................. 9,036,344 8,397,265 7,732,720 7,127,150 6,564,972
Total long-term debt, less current portion ......... 342,169 316,465 527,606 557,927 567,433
Stockholders’ equity ....................... $5,718,007 $ 5,021,665 $ 4,481,601 $ 4,174,424 $ 3,730,655
(1) 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.
(2) Results of operations for this period reflect a $38.0 million ($24.3 million net of taxes) charge related to the settlement of
California wage and hour class action litigation.
(3) Results of operations for this period reflect a $33.3 million reduction in income taxes related to the favorable resolution of
certain foreign and domestic tax matters and a $10.8 million charge ($8.6 million net of taxes), to correct the measurement dates
used to calculate prior years’ stock-based compensation.
(4) Results of operations for this period have been reclassified to conform with EITF Issue No. 03-10, ‘‘Application of Issue
No. 02-16 by Resellers to Sales Incentives Offered to Consumers by Manufacturers’’, which requires that vendor consideration
received in the form of sales incentives be recorded as a reduction of cost of goods sold when recognized, rather than as a
component of sales. As a result of this reclassification and a reclassification of certain other coupons, sales, gross profit and
operating and selling expenses decreased, but there was no impact on net income.
(5) Results of operations for this period reflect a $98.0 million ($61.7 million net of taxes) non-cash adjustment for the inclusion of
cooperative advertising and other performance based rebates in inventory as required by EITF Issue No. 02-16, ‘‘Accounting by a
Customer (Including a Reseller) for Certain Consideration Received from a Vendor’’.
The Company’s fiscal year is the 52 or 53 weeks ending the Saturday closest to January 31. Results of operations include
the results of acquired businesses since the relevant acquisition date.
A-1