Staples 2013 Annual Report Download - page 135

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C-4
STAPLES, INC. AND SUBSIDIARIES
Consolidated Statements of Income
(Dollar Amounts in Thousands, Except Share Data)
Fiscal Year Ended
February 1, 2014 February 2, 2013 January 28, 2012
Sales $ 23,114,263 $ 24,380,510 $ 24,664,752
Cost of goods sold and occupancy costs 17,081,978 17,889,249 17,974,884
Gross profit 6,032,285 6,491,261 6,689,868
Operating expenses:
Selling, general and administrative 4,735,294 4,884,284 4,991,195
Impairment of goodwill and long-lived assets — 810,996 —
Restructuring charges 64,085 207,016 —
Amortization of intangibles 55,405 78,900 64,902
Total operating expenses 4,854,784 5,981,196 5,056,097
Operating income 1,177,501 510,065 1,633,771
Other (expense) income:
Interest income 4,733 5,340 7,370
Interest expense (119,329)(162,477)(173,394)
Loss on early extinguishment of debt — (56,958) —
Other income (expense), net (100)(30,547)(3,103)
Income from continuing operations before income taxes 1,062,805 265,423 1,464,644
Income tax expense 355,801 426,270 477,247
Income (loss) from continuing operations, including the
portion attributable to the noncontrolling interests 707,004 (160,847) 987,397
Discontinued Operations:
Loss from discontinued operations, net of income taxes (86,935)(49,978)(3,564)
Consolidated net income (loss) 620,069 (210,825) 983,833
Loss attributed to the noncontrolling interests — (119)(823)
Income (loss) attributed to Staples, Inc. $ 620,069 $ (210,706) $ 984,656
Amounts attributable to Staples, Inc.:
Income (loss) from continuing operations $ 707,004 $ (160,728) $ 988,220
Loss from discontinued operations (86,935)(49,978)(3,564)
Income (loss) attributed to Staples, Inc. $ 620,069 $ (210,706) $ 984,656
Basic Earnings Per Common Share:
Continuing operations attributed to Staples, Inc. $ 1.08 $ (0.24) $ 1.42
Discontinued operations attributed to Staples, Inc. (0.13)(0.07) —
Net income (loss) attributed to Staples, Inc. $ 0.95 $ (0.31) $ 1.42
Diluted Earnings per Common Share:
Continuing operations attributed to Staples, Inc. $ 1.07 $ (0.24) $ 1.40
Discontinued operations attributed to Staples, Inc. (0.13)(0.07) —
Net income (loss) attributed to Staples, Inc. $ 0.94 $ (0.31) $ 1.40
Dividends declared per common share $ 0.48 $ 0.44 $ 0.40
See notes to consolidated financial statements.