Staples 2012 Annual Report Download - page 156

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C-44
STAPLES, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (continued)
First
Quarter Second
Quarter(3) Third
Quarter Fourth
Quarter
Fiscal Year Ended January 28, 2012
Sales $ 6,086,625 $ 5,722,798 $ 6,481,023 $ 6,374,306
Gross profit 1,623,350 1,526,654 1,820,982 1,718,882
Consolidated net income 197,682 176,300 326,330 283,521
Amounts attributed to Staples, Inc.:
Income from continuing operations $ 201,811 $ 178,977 $ 323,770 $ 283,662
(Loss) income from discontinued
operations, net of income taxes (3,566) (2,539) 2,610 (69)
Income attributed to Staples, Inc. $ 198,245 $ 176,438 $ 326,380 $ 283,593
Basic earnings per common share (5):
Continuing operations attributed to
Staples, Inc. $ 0.29 $ 0.25 $ 0.47 $ 0.41
Discontinued operations attributed to
Staples, Inc. (0.01) — — —
Income attributed to Staples, Inc. $ 0.28 $ 0.25 $ 0.47 $ 0.41
Diluted earnings per common share (5):
Continuing operations attributed to
Staples, Inc. $ 0.28 $ 0.25 $ 0.46 $ 0.41
Discontinued operations attributed to
Staples, Inc. — — 0.01 —
Income attributed to Staples, Inc. $ 0.28 $ 0.25 $ 0.47 $ 0.41
(1) Results of operations for this period include an $811.0 million impairment of goodwill and long-lived asset charge (see
Note C - Goodwill and Long-Lived Assets), a $30.4 million restructuring charge (see Note B - Restructuring Charges)
and $15.6 million of accelerated tradename amortization related to rebranding the Company's business in Australia.
(2) Results of operations for this period include a $176.6 million restructuring charge (see Note B - Restructuring Charges),
$4.5 million of accelerated tradename amortization related to rebranding the Company's business in Australia, a $57.0
million loss on early extinguishment of debt, and a $26.2 million charge related to the termination of the Company's joint
venture arrangement in India.
(3) Results of operation for this period include a $20.8 million tax benefit related to a refund due to Corporate Express from
the Italian government that was previously deemed uncollectible, which was recorded as a discrete item.
(4) The Company's fourth quarter of fiscal 2012 includes 14 weeks of operating results, while all other quarterly periods
presented include 13 weeks.
(5) The sum of the quarterly earnings per common share may not tie to the year-to-date earnings per common share due to
rounding.