| Segment Information |
The Company operates its business in the following segments:
United States, Canada, Australia and Europe. The Company identifies
segments based on a combination of geographic areas and management
responsibility. Each of the segments includes significant retail
operations with all stores engaged in the sale of new and pre-owned
video game systems and software and personal computer entertainment
software and related accessories. Segment results for the United
States include retail operations in 50 states, the District of
Columbia, Guam and Puerto Rico, the electronic commerce Web site
www.gamestop.com, Game Informer magazine, the online
video gaming Web site www.kongregate.com, a digital PC game
distribution platform available at www.gamestop.com/pcgames,
the streaming technology company Spawn Labs, and an online consumer
electronics marketplace available at www.buymytronics.com.
Segment results for Canada include retail and e-commerce operations
in Canada and segment results for Australia include retail and
e-commerce operations in Australia and New Zealand. Segment results
for Europe include retail operations in 13 European countries and
e-commerce operations in six countries. The Company measures
segment profit using operating earnings, which is defined as income
from continuing operations before intercompany royalty fees, net
interest expense and income taxes. Transactions between reportable
segments consist primarily of royalties, management fees,
intersegment loans and related interest.
Information on segments and the reconciliation to earnings
(loss) before income taxes are as follows (in millions):
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As of and
for the Fiscal Year Ended February 2, 2013
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United
States |
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Canada |
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Australia |
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Europe |
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Other |
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Consolidated |
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Net sales
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$ |
6,192.4 |
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$ |
478.4 |
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$ |
607.3 |
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$ |
1,608.6 |
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$ |
— |
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$ |
8,886.7 |
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Depreciation and
amortization
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|
120.7 |
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5.1 |
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13.8 |
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36.9 |
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— |
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|
176.5 |
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Goodwill
impairments
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0.0 |
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|
100.3 |
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|
107.1 |
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419.6 |
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— |
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627.0 |
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Asset impairments and
restructuring charges
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5.7 |
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0.4 |
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0.2 |
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47.4 |
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— |
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53.7 |
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Operating earnings
(loss)
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501.9 |
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(74.4 |
) |
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(71.6 |
) |
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(397.5 |
) |
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— |
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(41.6 |
) |
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Interest income
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(50.6 |
) |
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(0.6 |
) |
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(4.7 |
) |
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(0.2 |
) |
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55.2 |
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(0.9 |
) |
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Interest expense
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2.8 |
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— |
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0.2 |
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56.4 |
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(55.2 |
) |
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4.2 |
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Earnings (loss) before
income tax expense
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549.7 |
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(73.9 |
) |
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(67.1 |
) |
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(453.6 |
) |
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— |
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(44.9 |
) |
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Income tax
expense
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199.8 |
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7.1 |
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11.6 |
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6.4 |
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— |
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224.9 |
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Goodwill
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1,153.5 |
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37.7 |
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96.6 |
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95.3 |
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— |
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1,383.1 |
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Other long-lived
assets
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375.4 |
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21.0 |
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52.1 |
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291.1 |
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— |
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739.6 |
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Total assets
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2,665.4 |
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252.2 |
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416.6 |
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799.4 |
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— |
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4,133.6 |
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As of and
for the Fiscal Year Ended January 28, 2012
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United
States |
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Canada |
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Australia |
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Europe |
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Other |
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Consolidated |
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Net sales
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$ |
6,637.0 |
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$ |
498.4 |
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$ |
604.7 |
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$ |
1,810.4 |
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$ |
— |
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$ |
9,550.5 |
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Depreciation and
amortization
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|
126.4 |
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6.1 |
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12.4 |
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41.4 |
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— |
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186.3 |
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Asset impairment and
restructuring charges
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28.9 |
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1.3 |
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0.6 |
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50.4 |
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— |
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81.2 |
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Operating
earnings
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501.9 |
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12.4 |
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35.4 |
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20.2 |
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— |
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569.9 |
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Interest income
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(50.4 |
) |
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(0.3 |
) |
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(5.3 |
) |
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(0.2 |
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55.3 |
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(0.9 |
) |
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Interest expense
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18.9 |
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— |
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0.2 |
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56.9 |
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(55.3 |
) |
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20.7 |
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Earnings (loss) before
income tax expense
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532.4 |
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12.8 |
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40.5 |
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(36.6 |
) |
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— |
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549.1 |
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Income tax expense
(benefit)
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|
197.4 |
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4.2 |
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11.7 |
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(2.7 |
) |
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— |
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|
210.6 |
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Goodwill
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1,152.0 |
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|
137.4 |
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210.0 |
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519.6 |
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— |
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2,019.0 |
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Other long-lived
assets
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|
404.0 |
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23.0 |
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58.3 |
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|
345.8 |
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— |
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831.1 |
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Total assets
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2,718.2 |
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|
350.8 |
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513.3 |
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1,265.1 |
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— |
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4,847.4 |
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As of and
for the Fiscal Year Ended January 29, 2011
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United
States |
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Canada |
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Australia |
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Europe |
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Other |
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Consolidated |
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Net sales
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$ |
6,681.2 |
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$ |
502.3 |
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$ |
565.2 |
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$ |
1,725.0 |
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$ |
— |
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$ |
9,473.7 |
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Depreciation and
amortization
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|
115.6 |
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7.4 |
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10.9 |
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40.8 |
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— |
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|
174.7 |
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Asset impairment and
restructuring charges
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— |
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— |
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— |
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|
1.5 |
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— |
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1.5 |
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Operating
earnings
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|
530.8 |
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|
22.6 |
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|
41.0 |
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|
68.2 |
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— |
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|
662.6 |
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Interest income
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(45.7 |
) |
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(0.2 |
) |
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(4.4 |
) |
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(0.7 |
) |
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|
49.2 |
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(1.8 |
) |
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Interest expense
|
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|
35.7 |
|
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|
— |
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0.2 |
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|
50.3 |
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(49.2 |
) |
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37.0 |
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Earnings before income tax
expense
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|
534.9 |
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|
22.8 |
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|
45.1 |
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|
18.6 |
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— |
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|
621.4 |
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Income tax
expense
|
|
|
180.4 |
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|
7.4 |
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|
13.7 |
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|
13.1 |
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— |
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|
214.6 |
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Goodwill
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1,128.6 |
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|
137.4 |
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|
195.9 |
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|
534.4 |
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— |
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1,996.3 |
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Other long-lived
assets
|
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|
421.9 |
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|
27.2 |
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50.5 |
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|
413.1 |
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— |
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|
912.7 |
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Total assets
|
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2,896.7 |
|
|
|
357.6 |
|
|
|
469.4 |
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|
1,340.1 |
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|
— |
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|
5,063.8 |
|
|