Ingram Micro 2008 Annual Report Download - page 78

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People’s Republic of China including Hong Kong, India, Malaysia, New Zealand, Singapore, Sri Lanka, and
Thailand), and Latin America (Argentina, Brazil, Chile, Mexico, and the Company’s Latin American export
operations in Miami).
Financial information by geographic segments is as follows:
2008 2007 2006
Fiscal Year Ended
Net sales
North America ............................ $14,191,995 $13,923,186 $13,584,978
EMEA .................................. 11,534,968 12,438,644 10,753,995
Asia-Pacific .............................. 6,904,640 7,133,417 5,537,485
Latin America ............................ 1,730,549 1,551,842 1,481,019
Total .................................. $34,362,152 $35,047,089 $31,357,477
Income (loss) from operations
North America ............................ $ (49,011) $ 219,835 $ 225,183
EMEA .................................. 42,014 151,529 126,823
Asia-Pacific .............................. (353,518) 117,306 69,373
Latin America ............................ 43,191 (4,375) 29,940
Stock-based compensation expense ............. (14,845) (37,875) (28,875)
Total .................................. $ (332,169) $ 446,420 $ 422,444
Capital expenditures
North America ............................ $ 57,222 $ 33,517 $ 22,312
EMEA .................................. 18,390 8,228 10,636
Asia-Pacific .............................. 4,996 5,842 4,526
Latin America ............................ 751 2,168 1,695
Total .................................. $ 81,359 $ 49,755 $ 39,169
Depreciation and amortization
North America ............................ $ 36,241 $ 33,212 $ 32,071
EMEA .................................. 16,439 15,411 13,544
Asia-Pacific .............................. 13,583 13,162 13,143
Latin America ............................ 2,141 2,293 2,429
Total .................................. $ 68,404 $ 64,078 $ 61,187
The income (loss) from operations in 2008 includes the impairment of goodwill totaling $742,653 ($243,190
in North America; $24,125 in EMEA; and $475,338 in Asia-Pacific) as discussed in Notes 2 and 4 to the Company’s
consolidated financial statements. Also included in the 2008 income (loss) from operations are reorganization and
expense-reduction program costs of $18,573 ($1,838 of net charges in North America; $16,444 of charges in
EMEA; and $291 of charges in Asia-Pacific) as discussed in Note 3. In addition, the income from operations in
Latin America in 2008 includes the release of a portion of the 2007 commercial tax reserve in Brazil totaling $8,224
as discussed in Note 10. In 2007, the loss from operations in Latin America includes a net commercial tax charge in
Brazil of $30,134 and the income from operations in North America includes a charge of $15,000 for estimated
losses related to the SEC matter, both discussed in Note 10.
68
INGRAM MICRO INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)