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APPENDIX C
C-40 STAPLES Form 10-K
STAPLES, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (continued)
NOTE Q — QUARTER SUMMARY (UNAUDITED)
The following table summarizes quarterly information for 2014 and 2013 (in thousands, except for per share data):
(In thousands, except per share amounts)
First
Quarter
(1)
Second
Quarter
(2)
Third
Quarter
(3)
Fourth
Quarter
(4)
Fiscal Year Ended January 31, 2015
Sales $5,654,259 $5,220,103 $5,961,531 $5,656,467
Gross profit 1,410,294 1,308,043 1,596,276 1,486,423
Consolidated net income (loss) (6) 96,210 81,875 216,792 (260,352)
Basic and diluted earnings per common share (6): $0.15 $0.13 $0.34 $(0.41)
First
Quarter
Second
Quarter
Third
Quarter
(5)
Fourth
Quarter
Fiscal Year Ended February 1, 2014
Sales $5,814,571 $5,314,724 $6,111,695 $5,873,273
Gross profit 1,511,010 1,359,496 1,654,726 1,507,053
Income from continuing operations $170,421 $104,115 $220,085 $212,383
Loss from discontinued operations (494) (1,584) (84,857) —
Consolidated net income $169,927 $102,531 $135,228 $212,383
Basic and diluted earnings per common share (6):
Continuing operations $0.26 $0.16 $0.34 $0.33
Discontinued operations — — (0.13) —
Net Income $0.26 $0.16 $0.21 $0.33
(1) Net income for this period includes a $21.8 million charge for impairment of long-lived assets (see Note C - Goodwill and
Long-Lived Assets), $13.5 million of restructuring charges (see Note B - Restructuring Charges), a $21.8 million net gain on
disposal of businesses (see Note D - Divestitures) and $10.6 million of inventory write downs related to restructuring activities
(see Note B - Restructuring Charges).
(2) Net income for this period includes a $5.2 million charge for impairment of long-lived assets (see Note C - Goodwill and Long-
Lived Assets), $88.4 million of restructuring charges, an inventory write down of $5.1 million related to restructuring activities
and $2.1 million of accelerated depreciation related to restructuring activities (see Note B - Restructuring Charges).
(3) Net income for this period includes a $9.0 million charge for impairment long-lived assets (see Note C - Goodwill and
Long-Lived Assets), $24.6 million of restructuring charges (see Note B - Restructuring Charges), a $5.7 million net gain on
disposal of a business (see Note D - Divestitures), and $10.6 million of inventory write downs and $2.2 million of accelerated
depreciation related to restructuring activities (see Note B - Restructuring Charges).
(4) Net loss for this period includes a $433.7 million charge for impairment of goodwill and long-lived assets (see
Note C - Goodwill and Long-Lived Assets), $44.4 million of restructuring charges (see Note B - Restructuring Charges) and
$5.0 million of accelerated depreciation related to restructuring activities (see Note B - Restructuring Charges).
(5) Income from continuing operations for this period includes $64.1 million of restructuring charges (see Note B - Restructuring
Charges). Loss from discontinued operations, net of income taxes includes a loss on disposal of PSD of $80.9 million (see
Note D - Divestitures).
(6) The sum of the quarterly amounts may not tie to the year-to-date amounts due to rounding.