v2.4.0.6

Guarantor Subsidiaries (Tables) | 3 Months Ended
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Apr. 28, 2012
Guarantor Subsidiaries Disclosure [Abstract] |
Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet As of April 28, 2012 (in thousands)
| Staples, Inc. (Parent Co.) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash and cash equivalents | $ | 322,896 |  |  | $ | 45,901 |  |  | $ | 835,724 |  |  | $ | — |  |  | $ | 1,204,521 |
Merchandise inventories, net | — |  |  | 1,461,041 |  |  | 1,041,793 |  |  | — |  |  | 2,502,834 |
Other current assets | 544,092 |  |  | 813,543 |  |  | 1,180,820 |  |  | — |  |  | 2,538,455 |
Total current assets | 866,988 |  |  | 2,320,485 |  |  | 3,058,337 |  |  | — |  |  | 6,245,810 |
Net property, equipment and other assets | 666,580 |  |  | 1,138,242 |  |  | 1,311,328 |  |  | — |  |  | 3,116,150 |
Goodwill | 1,646,265 |  |  | 156,303 |  |  | 2,193,740 |  |  | — |  |  | 3,996,308 |
Investment in affiliates and intercompany, net | 5,963,120 |  |  | 7,201,826 |  |  | 11,033,513 |  |  | (24,198,459 | ) |  | — |
Total assets | $ | 9,142,953 |  |  | $ | 10,816,856 |  |  | $ | 17,596,918 |  |  | $ | (24,198,459 | ) |  | $ | 13,358,268 |
Total current liabilities | $ | 312,560 |  |  | $ | 2,050,271 |  |  | $ | 1,544,412 |  |  | $ | — |  |  | $ | 3,907,243 |
Total long-term liabilities | 1,735,122 |  |  | 212,560 |  |  | 408,072 |  |  | — |  |  | 2,355,754 |
Total stockholders' equity | 7,095,271 |  |  | 8,554,025 |  |  | 15,644,434 |  |  | (24,198,459 | ) |  | 7,095,271 |
Total liabilities and stockholders' equity | $ | 9,142,953 |  |  | $ | 10,816,856 |  |  | $ | 17,596,918 |  |  | $ | (24,198,459 | ) |  | $ | 13,358,268 |
Condensed Consolidating Balance Sheet As of January 28, 2012 (in thousands)
| Staples, Inc. (Parent Co.) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash and cash equivalents | $ | 385,279 |  |  | $ | 43,323 |  |  | $ | 835,547 |  |  | $ | — |  |  | $ | 1,264,149 |
Merchandise inventories, net | — |  |  | 1,437,074 |  |  | 994,771 |  |  | — |  |  | 2,431,845 |
Other current assets | 68,608 |  |  | 1,188,378 |  |  | 1,337,840 |  |  | — |  |  | 2,594,826 |
Total current assets | 453,887 |  |  | 2,668,775 |  |  | 3,168,158 |  |  | — |  |  | 6,290,820 |
Net property, equipment and other assets | 671,787 |  |  | 1,165,840 |  |  | 1,320,045 |  |  | — |  |  | 3,157,672 |
Goodwill | 1,644,728 |  |  | 156,303 |  |  | 2,181,099 |  |  | — |  |  | 3,982,130 |
Investment in affiliates and intercompany, net | 5,951,426 |  |  | 6,935,956 |  |  | 10,988,680 |  |  | (23,876,062 | ) |  | — |
Total assets | $ | 8,721,828 |  |  | $ | 10,926,874 |  |  | $ | 17,657,982 |  |  | $ | (23,876,062 | ) |  | $ | 13,430,622 |
Total current liabilities | $ | (13,544 | ) |  | $ | 2,314,411 |  |  | $ | 1,773,411 |  |  | $ | — |  |  | $ | 4,074,278 |
Total long-term liabilities | 1,713,159 |  |  | 195,852 |  |  | 425,120 |  |  | — |  |  | 2,334,131 |
Total stockholders' equity | 7,022,213 |  |  | 8,416,611 |  |  | 15,459,451 |  |  | (23,876,062 | ) |  | 7,022,213 |
Total liabilities and stockholders' equity | $ | 8,721,828 |  |  | $ | 10,926,874 |  |  | $ | 17,657,982 |  |  | $ | (23,876,062 | ) |  | $ | 13,430,622 |
Condensed Consolidating Statement of Income | Condensed Consolidating Statement of Comprehensive Income For the thirteen weeks ended April 28, 2012 (in thousands)
| Staples, Inc. (Parent Co.) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | 3,789,474 |  |  | $ | 2,315,351 |  |  | $ | — |  |  | $ | 6,104,825 |
Cost of goods sold and occupancy costs | 2,508 |  |  | 2,826,764 |  |  | 1,665,838 |  |  | — |  |  | 4,495,110 |
Gross (loss) profit | (2,508 | ) |  | 962,710 |  |  | 649,513 |  |  | — |  |  | 1,609,715 |
Operating and other (income) expenses | (189,567 | ) |  | 756,544 |  |  | 561,680 |  |  | 204,001 |  |  | 1,332,658 |
Consolidated income before income taxes | 187,059 |  |  | 206,166 |  |  | 87,833 |  |  | (204,001 | ) |  | 277,057 |
Income tax expense | — |  |  | 86,972 |  |  | 3,072 |  |  | — |  |  | 90,044 |
Consolidated net income | 187,059 |  |  | 119,194 |  |  | 84,761 |  |  | (204,001 | ) |  | 187,013 |
Loss attributed to the noncontrolling interests | — |  |  | — |  |  | (46 | ) |  | — |  |  | (46 | )
Net income attributed to Staples, Inc. | $ | 187,059 |  |  | $ | 119,194 |  |  | $ | 84,807 |  |  | $ | (204,001 | ) |  | $ | 187,059 |
Consolidated comprehensive income | $ | 208,854 |  |  | $ | 119,194 |  |  | $ | 109,495 |  |  | $ | (228,588 | ) |  | $ | 208,955 |
Comprehensive income attributed to noncontrolling interests | — |  |  | — |  |  | 101 |  |  | — |  |  | 101 |
Comprehensive income attributed to Staples, Inc. | $ | 208,854 |  |  | $ | 119,194 |  |  | $ | 109,394 |  |  | $ | (228,588 | ) |  | $ | 208,854 |
Condensed Consolidating Statement of Comprehensive Income For the thirteen weeks ended April 30, 2011 (in thousands)
| Staples, Inc. (Parent Co.) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | 3,758,648 |  |  | $ | 2,414,290 |  |  |  |  |  | $ | 6,172,938 |
Cost of goods sold and occupancy costs | 2,514 |  |  | 2,798,049 |  |  | 1,735,982 |  |  |  |  |  | 4,536,545 |
Gross (loss) profit | (2,514 | ) |  | 960,599 |  |  | 678,308 |  |  | — |  |  | 1,636,393 |
Operating and other (income) expenses | (200,759 | ) |  | 749,360 |  |  | 554,651 |  |  | 231,336 |  |  | 1,334,588 |
Consolidated income before income taxes | 198,245 |  |  | 211,239 |  |  | 123,657 |  |  | (231,336 | ) |  | 301,805 |
Income tax expense | — |  |  | 91,209 |  |  | 12,914 |  |  | — |  |  | 104,123 |
Consolidated net income | 198,245 |  |  | 120,030 |  |  | 110,743 |  |  | (231,336 | ) |  | 197,682 |
Loss attributed to the noncontrolling interests | — |  |  | — |  |  | (563 | ) |  | — |  |  | (563 | )
Net income attributed to Staples, Inc. | $ | 198,245 |  |  | $ | 120,030 |  |  | $ | 111,306 |  |  | $ | (231,336 | ) |  | $ | 198,245 |
Consolidated comprehensive income | $ | 502,500 |  |  | $ | 120,030 |  |  | $ | 477,005 |  |  | $ | (597,482 | ) |  | $ | 502,053 |
Comprehensive loss attributed to noncontrolling interests | — |  |  | — |  |  | (447 | ) |  | — |  |  | (447 | )
Comprehensive income attributed to Staples, Inc. | $ | 502,500 |  |  | $ | 120,030 |  |  | $ | 477,452 |  |  | $ | (597,482 | ) |  | $ | 502,500 |
Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows For the thirteen weeks ended April 28, 2012 (in thousands)
| Staples, Inc. (Parent Co.) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidated
Net cash provided by operating activities | $ | 114,231 |  |  | $ | 30,791 |  |  | $ | 1,835 |  |  | $ | 146,857 |
Investing Activities: |  |  |  |  |  |  |  |  |  |  |
Acquisition of property and equipment | (9,042 | ) |  | (28,295 | ) |  | (14,740 | ) |  | (52,077 | )
Cash used in investing activities | (9,042 | ) |  | (28,295 | ) |  | (14,740 | ) |  | (52,077 | )
Financing Activities: |  |  |  |  |  |  |  |  |  |  |
Proceeds from the exercise of stock options | 4,501 |  |  | — |  |  | — |  |  | 4,501 |
Proceeds from borrowings | 7,284 |  |  | — |  |  | 17,869 |  |  | 25,153 |
Payments on borrowings | (8,727 | ) |  | — |  |  | (11,109 | ) |  | (19,836 | )
Purchase of noncontrolling interest | — |  |  | — |  |  | (688 | ) |  | (688 | )
Cash dividends paid | (74,749 | ) |  | — |  |  | — |  |  | (74,749 | )
Excess tax benefits from stock-based compensation arrangements | 44 |  |  | 82 |  |  | 53 |  |  | 179 |
Purchase of treasury stock, net | (95,925 | ) |  | — |  |  | — |  |  | (95,925 | )
Cash (used in) provided by financing activities | (167,572 | ) |  | 82 |  |  | 6,125 |  |  | (161,365 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | 6,957 |  |  | 6,957 |
Net (decrease) increase in cash and cash equivalents | (62,383 | ) |  | 2,578 |  |  | 177 |  |  | (59,628 | )
Cash and cash equivalents at beginning of period | 385,279 |  |  | 43,323 |  |  | 835,547 |  |  | 1,264,149 |
Cash and cash equivalents at end of period | $ | 322,896 |  |  | $ | 45,901 |  |  | $ | 835,724 |  |  | $ | 1,204,521 |
Condensed Consolidating Statement of Cash Flows For the thirteen weeks ended April 30, 2011 (in thousands)
| Staples, Inc. (Parent Co.) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidated
Net cash provided by (used in) operating activities | $ | 452,110 |  |  | $ | 37,177 |  |  | $ | (279,021 | ) |  | $ | 210,266 |
Investing Activities: |  |  |  |  |  |  |  |  |  |  |
Acquisition of property and equipment | (7,113 | ) |  | (30,695 | ) |  | (24,809 | ) |  | (62,617 | )
Cash used in investing activities | (7,113 | ) |  | (30,695 | ) |  | (24,809 | ) |  | (62,617 | )
Financing activities: |  |  |  |  |  |  |  |  |  |  |
Proceeds from the exercise of stock options | 4,836 |  |  | — |  |  | — |  |  | 4,836 |
Proceeds from borrowings | 12,887 |  |  | — |  |  | 26,912 |  |  | 39,799 |
Payments on borrowings | (515,433 | ) |  | — |  |  | (20,861 | ) |  | (536,294 | )
Cash dividends paid | (70,936 | ) |  | — |  |  | — |  |  | (70,936 | )
Excess tax benefits from stock-based compensation arrangements | 28 |  |  | 272 |  |  | 87 |  |  | 387 |
Purchase of treasury stock, net | (148,477 | ) |  | — |  |  | — |  |  | (148,477 | )
Cash (used in) provided by financing activities | (717,095 | ) |  | 272 |  |  | 6,138 |  |  | (710,685 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | 34,294 |  |  | 34,294 |
Net (decrease) increase in cash and cash equivalents | (272,098 | ) |  | 6,754 |  |  | (263,398 | ) |  | (528,742 | )
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 | $ | 134,723 |  |  | $ | 45,052 |  |  | $ | 752,740 |  |  | $ | 932,515 |

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