Staples 2014 Annual Report Download - page 136

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C-4 STAPLES Form 10-K
APPENDIX C
STAPLES, INC. AND SUBSIDIARIES
Consolidated Statements of Income
(Dollar Amounts in Thousands, Except Share Data)
See notes to consolidated financial statements.
Fiscal Year Ended
January 31, 2015 February 1, 2014 February 2, 2013
Sales $22,492,360 $23,114,263 $24,380,510
Cost of goods sold and occupancy costs 16,691,324 17,081,978 17,889,249
Gross profit 5,801,036 6,032,285 6,491,261
Operating expenses:
Selling, general and administrative 4,816,433 4,735,294 4,884,284
Impairment of goodwill and long-lived assets 469,663 — 810,996
Restructuring charges 170,878 64,085 207,016
Amortization of intangibles 61,691 55,405 78,900
Total operating expenses 5,518,665 4,854,784 5,981,196
Gain on sale of businesses, net 27,495 — —
Operating income 309,866 1,177,501 510,065
Other income (expense):
Interest income 2,930 4,733 5,340
Interest expense (49,139) (119,329 ) (162,477)
Loss on early extinguishment of debt — — (56,958 )
Other income (expense), net 4,478 (100) (30,547)
Income from continuing operations before income taxes 268,135 1,062,805 265,423
Income tax expense 133,609 355,801 426,270
Income (loss) from continuing operations 134,526 707,004 (160,847 )
Discontinued operations:
Loss from discontinued operations, net of income taxes — (86,935 ) (49,978)
Consolidated net income (loss) 134,526 620,069 (210,825)
Loss attributed to the noncontrolling interests — — (119)
Net income (loss) attributed to Staples, Inc. $134,526 $620,069 $(210,706)
Amounts attributable to Staples, Inc.:
Income (loss) from continuing operations $134,526 $707,004 $(160,728)
Loss from discontinued operations — (86,935 ) (49,978)
Net income (loss) attributed to Staples, Inc. $134,526 $620,069 $(210,706 )
Basic Earnings Per Common Share:
Continuing operations attributed to Staples, Inc. $0.21 $1.08 $(0.24)
Discontinued operations attributed to Staples, Inc. — (0.13) (0.07)
Net income (loss) attributed to Staples, Inc. $0.21 $0.95 $(0.31)
Diluted Earnings per Common Share:
Continuing operations attributed to Staples, Inc. $0.21 $1.07 $(0.24)
Discontinued operations attributed to Staples, Inc. — (0.13) (0.07)
Net income (loss) attributed to Staples, Inc. $0.21 $0.94 $(0.31)
Dividends declared per common share $0.48 $0.48 $0.44