Staples 2012 Annual Report Download - page 98

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B-2
STAPLES, INC. AND SUBSIDIARIES
Management's Discussion and Analysis of Financial Condition and
Results of Operations (continued)
Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures for 2012 and 2011 are
shown below (amounts in thousands, except for per share data):
53 Weeks Ended
February 2, 2013
GAAP
Impairment
of goodwill
& long lived
assets Restructuring
charges
Accelerated
trade-name
amortization
Loss on early
extinguishment
of debt
Termination
of JV
arrangement
in India Non-GAAP
Operating income $ 510,065 $ 810,996 $ 207,016 $ 20,049 $ — $ — $ 1,548,126
Interest and other expense,
net (244,642) — — — 56,958 26,211 (161,473)
Income from continuing
operations before
income taxes 265,423 1,386,653
Income taxes 426,270 426,270
Adjustments — 24,390
Adjusted income taxes 426,270 450,660
(Loss) income from
continuing operations (160,847) 935,993
Loss attributed to
noncontrolling
interests (119) (119)
(Loss) income from
continuing operations
attributed to Staples,
Inc. $ (160,728) $ 936,112
Effective tax rate 160.6% 32.5%
Per share (loss) income
from continuing
operations attributed to
Staples, Inc:
Basic earnings per common
share $ (0.24) $ 1.40
Diluted earnings per
common share $ (0.24) $ 1.39
Weighted average common
shares outstanding 669,479 669,479
Effect of dilutive
securities — 6,526
Weighted average common
shares outstanding
assuming dilution 669,479 676,005
52 Weeks Ended
January 28, 2012
Net income Per Diluted Share
Income from continuing operations attributed to Staples, Inc. $ 988,220 $ 1.40
Tax refund (20,800)(0.03)
Non-GAAP income from continuing operations attributed to Staples, Inc. $ 967,420 $ 1.37