v2.4.0.6

Guarantor Subsidiaries (Tables) | 6 Months Ended
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Jul. 28, 2012
Guarantor Subsidiaries Disclosure [Abstract] |
Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet As of July 28, 2012 (in thousands)
| Staples, Inc. (Parent Co.) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash and cash equivalents | $ | 78,626 |  |  | $ | 76,954 |  |  | $ | 829,086 |  |  | $ | — |  |  | $ | 984,666 |
Merchandise inventories, net | — |  |  | 1,560,551 |  |  | 1,069,047 |  |  | — |  |  | 2,629,598 |
Other current assets | 663,907 |  |  | 813,934 |  |  | 1,029,839 |  |  | — |  |  | 2,507,680 |
Total current assets | 742,533 |  |  | 2,451,439 |  |  | 2,927,972 |  |  | — |  |  | 6,121,944 |
Net property, equipment and other assets | 652,538 |  |  | 1,120,927 |  |  | 1,236,090 |  |  | — |  |  | 3,009,555 |
Goodwill | 1,636,726 |  |  | 153,200 |  |  | 2,071,658 |  |  | — |  |  | 3,861,584 |
Investment in affiliates and intercompany, net | 5,704,179 |  |  | 8,152,766 |  |  | 10,676,696 |  |  | (24,533,641 | ) |  | — |
Total assets | $ | 8,735,976 |  |  | $ | 11,878,332 |  |  | $ | 16,912,416 |  |  | $ | (24,533,641 | ) |  | $ | 12,993,083 |
Total current liabilities | $ | 237,404 |  |  | $ | 2,119,173 |  |  | $ | 1,577,227 |  |  | $ | — |  |  | $ | 3,933,804 |
Total long-term liabilities | 1,701,819 |  |  | 209,225 |  |  | 351,482 |  |  | — |  |  | 2,262,526 |
Total stockholders' equity | 6,796,753 |  |  | 9,549,934 |  |  | 14,983,707 |  |  | (24,533,641 | ) |  | 6,796,753 |
Total liabilities and stockholders' equity | $ | 8,735,976 |  |  | $ | 11,878,332 |  |  | $ | 16,912,416 |  |  | $ | (24,533,641 | ) |  | $ | 12,993,083 |
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 July 28, 2012 (in thousands)
| Staples, Inc. (Parent Co.) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | 3,433,007 |  |  | $ | 2,065,489 |  |  | $ | — |  |  | $ | 5,498,496 |
Cost of goods sold and occupancy costs | 2,657 |  |  | 2,595,598 |  |  | 1,472,956 |  |  | — |  |  | 4,071,211 |
Gross (loss) profit | (2,657 | ) |  | 837,409 |  |  | 592,533 |  |  | — |  |  | 1,427,285 |
Operating and other (income) expenses | (123,086 | ) |  | 721,656 |  |  | 504,772 |  |  | 145,581 |  |  | 1,248,923 |
Consolidated income before income taxes | 120,429 |  |  | 115,753 |  |  | 87,761 |  |  | (145,581 | ) |  | 178,362 |
Income tax expense | — |  |  | 51,202 |  |  | 6,765 |  |  | — |  |  | 57,967 |
Consolidated net income | 120,429 |  |  | 64,551 |  |  | 80,996 |  |  | (145,581 | ) |  | 120,395 |
Loss attributed to the noncontrolling interests | — |  |  | — |  |  | (34 | ) |  | — |  |  | (34 | )
Net income attributed to Staples, Inc. | $ | 120,429 |  |  | $ | 64,551 |  |  | $ | 81,030 |  |  | $ | (145,581 | ) |  | $ | 120,429 |
Consolidated comprehensive income (loss) | $ | (96,414 | ) |  | $ | 64,551 |  |  | $ | (130,325 | ) |  | $ | 65,659 |  |  | $ | (96,529 | )
Comprehensive loss attributed to noncontrolling interests | — |  |  | — |  |  | (115 | ) |  | — |  |  | (115 | )
Comprehensive income (loss) attributed to Staples, Inc. | $ | (96,414 | ) |  | $ | 64,551 |  |  | $ | (130,210 | ) |  | $ | 65,659 |  |  | $ | (96,414 | )
Condensed Consolidating Statement of Comprehensive Income For the thirteen weeks ended July 30, 2011 (in thousands)
| Staples, Inc. (Parent Co.) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | 3,495,872 |  |  | $ | 2,323,740 |  |  | $ | — |  |  | $ | 5,819,612 |
Cost of goods sold and occupancy costs | 3,413 |  |  | 2,635,730 |  |  | 1,640,089 |  |  | — |  |  | 4,279,232 |
Gross (loss) profit | (3,413 | ) |  | 860,142 |  |  | 683,651 |  |  | — |  |  | 1,540,380 |
Operating and other (income) expenses | (179,851 | ) |  | 743,139 |  |  | 532,010 |  |  | 207,678 |  |  | 1,302,976 |
Consolidated income before income taxes | 176,438 |  |  | 117,003 |  |  | 151,641 |  |  | (207,678 | ) |  | 237,404 |
Income tax expense | — |  |  | 53,971 |  |  | 7,133 |  |  | — |  |  | 61,104 |
Consolidated net income | 176,438 |  |  | 63,032 |  |  | 144,508 |  |  | (207,678 | ) |  | 176,300 |
Loss attributed to the noncontrolling interests | — |  |  | — |  |  | (138 | ) |  | — |  |  | (138 | )
Net income attributed to Staples, Inc. | $ | 176,438 |  |  | $ | 63,032 |  |  | $ | 144,646 |  |  | $ | (207,678 | ) |  | $ | 176,438 |
Consolidated comprehensive income (loss) | $ | 59,172 |  |  | $ | 63,032 |  |  | $ | 26,646 |  |  | $ | (89,726 | ) |  | $ | 59,124 |
Comprehensive loss attributed to noncontrolling interests | — |  |  | — |  |  | (48 | ) |  | — |  |  | (48 | )
Comprehensive income (loss) attributed to Staples, Inc. | $ | 59,172 |  |  | $ | 63,032 |  |  | $ | 26,694 |  |  | $ | (89,726 | ) |  | $ | 59,172 |
Condensed Consolidating Statement of Comprehensive Income For the twenty-six weeks ended July 28, 2012 (in thousands)
| Staples, Inc. (Parent Co.) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | 7,222,481 |  |  | $ | 4,380,840 |  |  | $ | — |  |  | $ | 11,603,321 |
Cost of goods sold and occupancy costs | 5,165 |  |  | 5,422,362 |  |  | 3,138,794 |  |  | — |  |  | 8,566,321 |
Gross (loss) profit | (5,165 | ) |  | 1,800,119 |  |  | 1,242,046 |  |  | — |  |  | 3,037,000 |
Operating and other (income) expenses | (312,653 | ) |  | 1,478,200 |  |  | 1,066,452 |  |  | 349,582 |  |  | 2,581,581 |
Consolidated income before income taxes | 307,488 |  |  | 321,919 |  |  | 175,594 |  |  | (349,582 | ) |  | 455,419 |
Income tax expense | — |  |  | 138,174 |  |  | 9,837 |  |  | — |  |  | 148,011 |
Consolidated net income | 307,488 |  |  | 183,745 |  |  | 165,757 |  |  | (349,582 | ) |  | 307,408 |
Loss attributed to the noncontrolling interests | — |  |  | — |  |  | (80 | ) |  | — |  |  | (80 | )
Net income attributed to Staples, Inc. | $ | 307,488 |  |  | $ | 183,745 |  |  | $ | 165,837 |  |  | $ | (349,582 | ) |  | $ | 307,488 |
Consolidated comprehensive income (loss) | $ | 112,440 |  |  | $ | 183,745 |  |  | $ | (20,830 | ) |  | $ | (162,929 | ) |  | $ | 112,426 |
Comprehensive loss attributed to noncontrolling interests | — |  |  | — |  |  | (14 | ) |  | — |  |  | (14 | )
Comprehensive income (loss) attributed to Staples, Inc. | $ | 112,440 |  |  | $ | 183,745 |  |  | $ | (20,816 | ) |  | $ | (162,929 | ) |  | $ | 112,440 |
Condensed Consolidating Statement of Comprehensive Income For the twenty-six weeks ended July 30, 2011 (in thousands)
| Staples, Inc. (Parent Co.) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | 7,254,520 |  |  | $ | 4,738,030 |  |  | $ | — |  |  | $ | 11,992,550 |
Cost of goods sold and occupancy costs | 5,927 |  |  | 5,433,779 |  |  | 3,376,071 |  |  | — |  |  | 8,815,777 |
Gross (loss) profit | (5,927 | ) |  | 1,820,741 |  |  | 1,361,959 |  |  | — |  |  | 3,176,773 |
Operating and other (income) expenses | (380,610 | ) |  | 1,492,499 |  |  | 1,086,661 |  |  | 439,014 |  |  | 2,637,564 |
Consolidated income before income taxes | 374,683 |  |  | 328,242 |  |  | 275,298 |  |  | (439,014 | ) |  | 539,209 |
Income tax expense | — |  |  | 145,180 |  |  | 20,047 |  |  | — |  |  | 165,227 |
Consolidated net income | 374,683 |  |  | 183,062 |  |  | 255,251 |  |  | (439,014 | ) |  | 373,982 |
Loss attributed to the noncontrolling interests | — |  |  | — |  |  | (701 | ) |  | — |  |  | (701 | )
Net income attributed to Staples, Inc. | $ | 374,683 |  |  | $ | 183,062 |  |  | $ | 255,952 |  |  | $ | (439,014 | ) |  | $ | 374,683 |
Consolidated comprehensive income (loss) | $ | 561,672 |  |  | $ | 183,062 |  |  | $ | 503,651 |  |  | $ | (687,208 | ) |  | $ | 561,177 |
Comprehensive loss attributed to noncontrolling interests | — |  |  | — |  |  | (495 | ) |  | — |  |  | (495 | )
Comprehensive income (loss) attributed to Staples, Inc. | $ | 561,672 |  |  | $ | 183,062 |  |  | $ | 504,146 |  |  | $ | (687,208 | ) |  | $ | 561,672 |
Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows For the twenty-six weeks ended July 28, 2012 (in thousands)
| Staples, Inc. (Parent Co.) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidated
Net cash provided by operating activities | $ | 56,770 |  |  | $ | 103,197 |  |  | $ | 96,813 |  |  | $ | 256,780 |
Investing Activities: |  |  |  |  |  |  |  |  |  |  |
Acquisition of property and equipment | (17,208 | ) |  | (69,648 | ) |  | (39,364 | ) |  | (126,220 | )
Cash used in investing activities | (17,208 | ) |  | (69,648 | ) |  | (39,364 | ) |  | (126,220 | )
Financing Activities: |  |  |  |  |  |  |  |  |  |  |
Proceeds from issuance of commercial paper, net of repayments | 49,998 |  |  | — |  |  | — |  |  | 49,998 |
Proceeds from the exercise of stock options | 24,259 |  |  | — |  |  | — |  |  | 24,259 |
Proceeds from borrowings | 13,267 |  |  | — |  |  | 33,976 |  |  | 47,243 |
Payments on borrowings | (13,245 | ) |  | — |  |  | (61,838 | ) |  | (75,083 | )
Purchase of noncontrolling interest | — |  |  | — |  |  | (4,649 | ) |  | (4,649 | )
Cash dividends paid | (148,545 | ) |  | — |  |  | — |  |  | (148,545 | )
Excess tax benefits from stock-based compensation arrangements | 44 |  |  | 82 |  |  | 53 |  |  | 179 |
Purchase of treasury stock, net | (271,993 | ) |  | — |  |  | — |  |  | (271,993 | )
Cash used in financing activities | (346,215 | ) |  | 82 |  |  | (32,458 | ) |  | (378,591 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | (31,452 | ) |  | (31,452 | )
Net (decrease) increase in cash and cash equivalents | (306,653 | ) |  | 33,631 |  |  | (6,461 | ) |  | (279,483 | )
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 | $ | 78,626 |  |  | $ | 76,954 |  |  | $ | 829,086 |  |  | $ | 984,666 |
Condensed Consolidating Statement of Cash Flows For the twenty-six weeks ended July 30, 2011 (in thousands)
| Staples, Inc. (Parent Co.) |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidated
Net cash provided by (used in) operating activities | $ | 460,425 |  |  | $ | 87,077 |  |  | $ | (245,338 | ) |  | $ | 302,164 |
Investing Activities: |  |  |  |  |  |  |  |  |  |  |
Acquisition of property and equipment | (16,962 | ) |  | (78,979 | ) |  | (68,208 | ) |  | (164,149 | )
Cash used in investing activities | (16,962 | ) |  | (78,979 | ) |  | (68,208 | ) |  | (164,149 | )
Financing activities: |  |  |  |  |  |  |  |  |  |  |
Proceeds from issuance of commercial paper, net of repayments | 254,926 |  |  | — |  |  | — |  |  | 254,926 |
Proceeds from the exercise of stock options | 31,559 |  |  | — |  |  | — |  |  | 31,559 |
Proceeds from borrowings | 21,544 |  |  | — |  |  | 96,630 |  |  | 118,174 |
Payments on borrowings | (517,641 | ) |  | — |  |  | (180,990 | ) |  | (698,631 | )
Cash dividends paid | (140,643 | ) |  | — |  |  | — |  |  | (140,643 | )
Excess tax benefits from stock-based compensation arrangements | 571 |  |  | 324 |  |  | 47 |  |  | 942 |
Purchase of treasury stock, net | (365,203 | ) |  | — |  |  | — |  |  | (365,203 | )
Cash (used in) provided by financing activities | (714,887 | ) |  | 324 |  |  | (84,313 | ) |  | (798,876 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | 22,728 |  |  | 22,728 |
Net (decrease) increase in cash and cash equivalents | (271,424 | ) |  | 8,422 |  |  | (375,131 | ) |  | (638,133 | )
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 | $ | 135,397 |  |  | $ | 46,720 |  |  | $ | 641,007 |  |  | $ | 823,124 |

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