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