Guarantor Subsidiaries (Tables)
| 9 Months Ended |
|---|
Oct. 29, 2011 |
|---|
| Guarantor Subsidiaries Disclosure [Abstract] | |
| Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet As of October 29, 2011 (in thousands) | | | | | | | | | | | | | | | | | | | | | | Staples, Inc. (Parent Co.) | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Cash and cash equivalents | $ | 297,198 |
| | $ | 44,612 |
| | $ | 718,554 |
| | $ | — |
| | $ | 1,060,364 |
| Merchandise inventories, net | — |
| | 1,471,542 |
| | 1,055,434 |
| | — |
| | 2,526,976 |
| Other current assets | 439,137 |
| | 1,085,660 |
| | 1,222,261 |
| | — |
| | 2,747,058 |
| Total current assets | 736,335 |
| | 2,601,814 |
| | 2,996,249 |
| | — |
| | 6,334,398 |
| Net property, equipment and other assets | 662,458 |
| | 1,080,590 |
| | 1,399,550 |
| | — |
| | 3,142,598 |
| Goodwill | 1,654,346 |
| | 156,303 |
| | 2,327,372 |
| | — |
| | 4,138,021 |
| Investment in affiliates and intercompany, net | 6,171,368 |
| | 5,660,681 |
| | 8,993,356 |
| | (20,825,405 | ) | | — |
| Total assets | $ | 9,224,507 |
| | $ | 9,499,388 |
| | $ | 15,716,527 |
| | $ | (20,825,405 | ) | | $ | 13,615,017 |
| | | | | | | | | | | Total current liabilities | $ | 357,159 |
| | $ | 2,134,585 |
| | $ | 1,713,715 |
| | $ | — |
| | $ | 4,205,459 |
| Total long-term liabilities | 1,687,351 |
| | 183,249 |
| | 358,961 |
| | — |
| | 2,229,561 |
| Total stockholders' equity | 7,179,997 |
| | 7,181,554 |
| | 13,643,851 |
| | (20,825,405 | ) | | 7,179,997 |
| Total liabilities and stockholders' equity | $ | 9,224,507 |
| | $ | 9,499,388 |
| | $ | 15,716,527 |
| | $ | (20,825,405 | ) | | $ | 13,615,017 |
|
Condensed Consolidating Balance Sheet As of January 29, 2011 (in thousands) | | | | | | | | | | | | | | | | | | | | | | Staples, Inc. (Parent Co.) | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Cash and cash equivalents | $ | 406,821 |
| | $ | 38,298 |
| | $ | 1,016,138 |
| | $ | — |
| | $ | 1,461,257 |
| Merchandise inventories, net | — |
| | 1,396,667 |
| | 962,506 |
| | — |
| | 2,359,173 |
| Other current assets | 64,699 |
| | 1,147,433 |
| | 1,435,605 |
| | — |
| | 2,647,737 |
| Total current assets | 471,520 |
| | 2,582,398 |
| | 3,414,249 |
| | — |
| | 6,468,167 |
| Net property, equipment and other assets | 742,833 |
| | 1,246,194 |
| | 1,381,311 |
| | — |
| | 3,370,338 |
| Goodwill | 1,617,937 |
| | 154,527 |
| | 2,300,698 |
| | — |
| | 4,073,162 |
| Investment in affiliates and intercompany, net | 6,691,832 |
| | 4,783,397 |
| | 7,001,204 |
| | (18,476,433 | ) | | — |
| Total assets | $ | 9,524,122 |
| | $ | 8,766,516 |
| | $ | 14,097,462 |
| | $ | (18,476,433 | ) | | $ | 13,911,667 |
| | | | | | | | | | | Total current liabilities | $ | 875,100 |
| | $ | 1,454,741 |
| | $ | 1,963,752 |
| | $ | — |
| | $ | 4,293,593 |
| Total long-term liabilities | 1,697,841 |
| | 562,027 |
| | 407,025 |
| | — |
| | 2,666,893 |
| Total stockholders' equity | 6,951,181 |
| | 6,749,748 |
| | 11,726,685 |
| | (18,476,433 | ) | | 6,951,181 |
| Total liabilities and stockholders' equity | $ | 9,524,122 |
| | $ | 8,766,516 |
| | $ | 14,097,462 |
| | $ | (18,476,433 | ) | | $ | 13,911,667 |
|
|
| Condensed Consolidating Statement of Income | Condensed Consolidating Statement of Income For the thirteen weeks ended October 29, 2011 (in thousands) | | | | | | | | | | | | | | | | | | | | | | Staples, Inc. (Parent Co.) | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Sales | $ | — |
| | $ | 4,048,603 |
| | $ | 2,521,324 |
| | $ | — |
| | $ | 6,569,927 |
| Cost of goods sold and occupancy costs | 2,715 |
| | 2,955,171 |
| | 1,779,260 |
| | — |
| | 4,737,146 |
| Gross profit | (2,715 | ) | | 1,093,432 |
| | 742,064 |
| | — |
| | 1,832,781 |
| Operating and other (income) expenses | (329,095 | ) | | 777,847 |
| | 538,588 |
| | 355,086 |
| | 1,342,426 |
| Consolidated income before income taxes | 326,380 |
| | 315,585 |
| | 203,476 |
| | (355,086 | ) | | 490,355 |
| Income tax expense | — |
| | 132,037 |
| | 31,988 |
| | — |
| | 164,025 |
| Consolidated net income | 326,380 |
| | 183,548 |
| | 171,488 |
| | (355,086 | ) | | 326,330 |
| Loss attributed to the noncontrolling interests | — |
| | — |
| | (50 | ) | | — |
| | (50 | ) | Net income attributed to Staples, Inc. | $ | 326,380 |
| | $ | 183,548 |
| | $ | 171,538 |
| | $ | (355,086 | ) | | $ | 326,380 |
|
Condensed Consolidating Statement of Income For the thirteen weeks ended October 30, 2010 (in thousands) | | | | | | | | | | | | | | | | | | | | | | Staples, Inc. (Parent Co.) | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Sales | $ | — |
| | $ | 3,968,034 |
| | $ | 2,569,642 |
| | $ | — |
| | $ | 6,537,676 |
| Cost of goods sold and occupancy costs | 2,807 |
| | 2,913,335 |
| | 1,817,786 |
| | — |
| | 4,733,928 |
| Gross profit | (2,807 | ) | | 1,054,699 |
| | 751,856 |
| | — |
| | 1,803,748 |
| Operating and other (income) expenses | (291,487 | ) | | 769,053 |
| | 537,809 |
| | 326,502 |
| | 1,341,877 |
| Consolidated income before income taxes | 288,680 |
| | 285,646 |
| | 214,047 |
| | (326,502 | ) | | 461,871 |
| Income tax expense | — |
| | 127,369 |
| | 45,832 |
| | — |
| | 173,201 |
| Consolidated net income | 288,680 |
| | 158,277 |
| | 168,215 |
| | (326,502 | ) | | 288,670 |
| Loss attributed to the noncontrolling interests | — |
| | — |
| | (10 | ) | | — |
| | (10 | ) | Net income attributed to Staples, Inc. | $ | 288,680 |
| | $ | 158,277 |
| | $ | 168,225 |
| | $ | (326,502 | ) | | $ | 288,680 |
|
Condensed Consolidating Statement of Income For the thirty-nine weeks ended October 29, 2011 (in thousands) | | | | | | | | | | | | | | | | | | | | | | Staples, Inc. (Parent Co.) | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Sales | $ | — |
| | $ | 11,303,123 |
| | $ | 7,259,354 |
| | $ | — |
| | $ | 18,562,477 |
| Cost of goods sold and occupancy costs | 8,642 |
| | 8,388,950 |
| | 5,155,331 |
| | — |
| | 13,552,923 |
| Gross profit | (8,642 | ) | | 2,914,173 |
| | 2,104,023 |
| | — |
| | 5,009,554 |
| Operating and other (income) expenses | (709,705 | ) | | 2,270,346 |
| | 1,625,249 |
| | 794,100 |
| | 3,979,990 |
| Consolidated income before income taxes | 701,063 |
| | 643,827 |
| | 478,774 |
| | (794,100 | ) | | 1,029,564 |
| Income tax expense | — |
| | 277,217 |
| | 52,035 |
| | — |
| | 329,252 |
| Consolidated net income | 701,063 |
| | 366,610 |
| | 426,739 |
| | (794,100 | ) | | 700,312 |
| Loss attributed to the noncontrolling interests | — |
| | — |
| | (751 | ) | | — |
| | (751 | ) | Net income attributed to Staples, Inc. | $ | 701,063 |
| | $ | 366,610 |
| | $ | 427,490 |
| | $ | (794,100 | ) | | $ | 701,063 |
|
Condensed Consolidating Statement of Income For the thirty-nine weeks ended October 30, 2010 (in thousands) | | | | | | | | | | | | | | | | | | | | | | Staples, Inc. (Parent Co.) | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Sales | $ | — |
| | $ | 11,027,989 |
| | $ | 7,101,722 |
| | $ | — |
| | $ | 18,129,711 |
| Cost of goods sold and occupancy costs | 8,715 |
| | 8,222,687 |
| | 5,012,798 |
| | — |
| | 13,244,200 |
| Gross profit | (8,715 | ) | | 2,805,302 |
| | 2,088,924 |
| | — |
| | 4,885,511 |
| Operating and other (income) expenses | (615,921 | ) | | 2,220,232 |
| | 1,610,325 |
| | 688,762 |
| | 3,903,398 |
| Consolidated income before income taxes | 607,206 |
| | 585,070 |
| | 478,599 |
| | (688,762 | ) | | 982,113 |
| Income tax expense | — |
| | 255,877 |
| | 112,416 |
| | — |
| | 368,293 |
| Consolidated net income | 607,206 |
| | 329,193 |
| | 366,183 |
| | (688,762 | ) | | 613,820 |
| Income attributed to the noncontrolling interests | — |
| | — |
| | 6,614 |
| | — |
| | 6,614 |
| Net income attributed to Staples, Inc. | $ | 607,206 |
| | $ | 329,193 |
| | $ | 359,569 |
| | $ | (688,762 | ) | | $ | 607,206 |
|
|
| Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows For the thirty-nine weeks ended October 29, 2011 (in thousands) | | | | | | | | | | | | | | | | | | Staples, Inc. (Parent Co.) | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidated | Cash provided by (used in) operating activities | $ | 1,077,346 |
| | $ | 116,515 |
| | $ | (98,229 | ) | | $ | 1,095,632 |
| Investing Activities: | |
| | |
| | |
| | |
| Acquisition of property and equipment | (29,772 | ) | | (122,964 | ) | | (91,004 | ) | | (243,740 | ) | Cash used in investing activities | (29,772 | ) | | (122,964 | ) | | (91,004 | ) | | (243,740 | ) | Financing Activities: | |
| | |
| | |
| | |
| Proceeds from borrowings | 75,720 |
| | 12,378 |
| | 126,571 |
| | 214,669 |
| Payments on borrowings, including payment of deferred financing fees | (544,385 | ) | | — |
| | (245,546 | ) | | (789,931 | ) | Purchase of treasury stock, net | (512,496 | ) | | — |
| | — |
| | (512,496 | ) | Excess tax benefits from stock-based compensation arrangements | 579 |
| | 385 |
| | 59 |
| | 1,023 |
| Cash dividends paid | (209,604 | ) | | — |
| | — |
| | (209,604 | ) | Other | 32,989 |
| | — |
| | (3,591 | ) | | 29,398 |
| Cash (used in) provided by financing activities | (1,157,197 | ) | | 12,763 |
| | (122,507 | ) | | (1,266,941 | ) | Effect of exchange rate changes on cash and cash equivalents | — |
| | — |
| | 14,156 |
| | 14,156 |
| Net (decrease) increase in cash and cash equivalents | (109,623 | ) | | 6,314 |
| | (297,584 | ) | | (400,893 | ) | Cash and cash equivalents at beginning of period | 406,821 |
| | 38,298 |
| | 1,016,138 |
| | 1,461,257 |
| Cash and cash equivalents at end of period | $ | 297,198 |
| | $ | 44,612 |
| | $ | 718,554 |
| | $ | 1,060,364 |
|
Condensed Consolidating Statement of Cash Flows For the thirty-nine weeks ended October 30, 2010 (in thousands) | | | | | | | | | | | | | | | | | | Staples, Inc. (Parent Co.) | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidated | Cash provided by operating activities | $ | 595,676 |
| | $ | 124,154 |
| | $ | 284,258 |
| | $ | 1,004,088 |
| Investing Activities: | |
| | |
| | |
| | |
| Acquisition of property and equipment | (35,318 | ) | | (134,207 | ) | | (76,277 | ) | | (245,802 | ) | Acquisition of businesses, net of cash acquired | — |
| | — |
| | (39,065 | ) | | (39,065 | ) | Cash used in investing activities | (35,318 | ) | | (134,207 | ) | | (115,342 | ) | | (284,867 | ) | Financing activities: | |
| | |
| | |
| | 0 |
| Proceeds from borrowings | 58,827 |
| | — |
| | 116,208 |
| | 175,035 |
| Payments on borrowings, including payment of deferred financing fees | (82,700 | ) | | — |
| | (68,368 | ) | | (151,068 | ) | Purchase of treasury stock, net | (285,713 | ) | | — |
| | — |
| | (285,713 | ) | Cash dividends paid | (194,856 | ) | | — |
| | — |
| | (194,856 | ) | Proceeds from the exercise of stock options and the sale of stock under employee stock purchase plans | 43,868 |
| | — |
| | (360,595 | ) | | (316,727 | ) | Cash used in financing activities | (460,574 | ) | | — |
| | (312,755 | ) | | (773,329 | ) | Effect of exchange rate changes on cash and cash equivalents | — |
| | — |
| | 8,010 |
| | 8,010 |
| Net increase (decrease) in cash and cash equivalents | 99,784 |
| | (10,053 | ) | | (135,829 | ) | | (46,098 | ) | Cash and cash equivalents at beginning of period | 581,095 |
| | 54,324 |
| | 780,400 |
| | 1,415,819 |
| Cash and cash equivalents at end of period | $ | 680,879 |
| | $ | 44,271 |
| | $ | 644,571 |
| | $ | 1,369,721 |
|
|