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Guarantor Subsidiaries (Tables)
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3 Months Ended |
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Apr. 28, 2012
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| Guarantor Subsidiaries Disclosure [Abstract] |
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| 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 |
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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 |
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| 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 |
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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 |
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| 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: | |
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| | |
| | |
| 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: | |
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| | |
| 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 |
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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: | |
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| | |
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| 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: | |
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| 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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