Arrow Electronics 2011 Annual Report Download - page 24

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(e) Operating income and net income attributable to shareholders include restructuring, integration, and other charges of
$11.7 million ($7.0 million net of related taxes or $.06 per share on both a basic and diluted basis). Net income attributable
to shareholders also includes an income tax benefit of $6.0 million, net, ($.05 per share on both a basic and diluted basis)
principally due to a reduction in deferred income taxes as a result of the statutory tax rate change in Germany.