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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