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grow
with us.
INGRAM MICRO
2010 ANNUAL REPORT

Table of contents

  • Page 1
    grow with us. INGRAM MICRO 2010 ANNUAL REPORT

  • Page 2
    financial highlights Fiscal Year ($ in thousands, except per share data) 2010 2009 2008 2007 2006 Net sales Gross profit Income (loss) from operations Net income (loss)...59 (1) Please refer to Schedule 1 for more detailed information and reconciliation of GAAP to Non-GAAP financial measures.

  • Page 3
    ... Ingram Micro has stood the test of time, building an ecosystem of valued resellers and manufacturers to become the world's largest wholesale technology distributor and supply-chain services provider. In 2010, we found fertile ground in new ideas and solutions, a deeper engagement with our customers...

  • Page 4
    ... our customers. This year, our momentum accelerated as growth in DC/POS surpassed the company average. Future trends favor companies turning to DC/POS technology with greater frequency to help automate their supply chains and increase productivity. Our fee-for-service logistics business reached new...

  • Page 5
    ... addressable market and ability to enter into new verticals. Expanding our logistics business into EMEA during 2010, we closed the year with 10 new clients there. The addition of Robert Gifford as executive vice president, global logistics, will help us take further advantage of our supply-chain...

  • Page 6
    ...partners, associates, shareholders and business. In 2010, we launched a formal corporate social responsibility program, the culmination of grassroots efforts from our forward-thinking associates throughout the world. Later in the year, the company received ISO 14001 certification in North America in...

  • Page 7
    ...PLACE, SANTA ANA, CALIFORNIA 92705 (714) 566-1000 (Registrant's telephone number, including area code) SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT: Title of Each Class: Name of Each Exchange on Which Registered: Class A Common Stock, Par Value $.01 Per Share New York Stock Exchange...

  • Page 8
    TABLE OF CONTENTS PART I ...ITEM 1. BUSINESS ...Introduction ...History ...Company Strengths ...Customers ...Sales and Marketing ...Products ...Services ...Suppliers ...Competition ...Seasonality ...Inventory Management ...Trademarks and Service Marks ...Employees ...Corporate Social Responsibility ...

  • Page 9
    ... and data capture ("AIDC"); point-of-sale ("POS"); managed, professional and warranty maintenance services; mobility; physical security; and consumer electronics ("CE"). We also are committed to building our business by leveraging the continuing evolution of technology delivery. Cloud computing, or...

  • Page 10
    ... in all business processes. The strategic locations of our IT systems and warehouse locations support custom shipment requirements and optimized delivery methodologies, allowing us to deliver products faster, while reducing shipping costs. We remain focused on ensuring that our catalog includes the...

  • Page 11
    ... and retail hubs, transportation management, customer service, returns processing, accounts receivable management, and IT connectivity. Our initial efforts to build our Ingram Micro Logistics business were focused on North America. Efforts to globalize our fee-for-service model are progressing...

  • Page 12
    ..., Germany, Hungary, Israel, Italy, the Netherlands, Spain, Sweden, Switzerland and the United Kingdom), Asia Pacific (Australia, the People's Republic of China including Hong Kong, India, Malaysia, New Zealand, Singapore and Thailand), and Latin America (Argentina, Brazil, Chile, Mexico and Peru...

  • Page 13
    ... from tailored sales leads. Ingram Micro North America's Business Intelligence services have been expanded to provide customizable business-building services and programs on a fee-based platform. In the U.S. and Canada, we host channel communities covering more than 5,000 customers. Leading our...

  • Page 14
    ... such as cell phones, digital cameras, digital video disc players, game consoles, televisions, audio, media management and home control; • AIDC/POS products such as barcode/card printers, AIDC scanners, AIDC software, and wireless infrastructure products; • physical security products such as...

  • Page 15
    ...: • supply chain services (product procurement, inventory management, order management and fulfillment, reverse logistics, transportation management, customer care, credit and collection management services); • integration services (compatibility assurance, order configuration, drop ship to end...

  • Page 16
    ... quality and breadth of product lines and services; • speed and accuracy of delivery; and • availability of web- or call center-based sales. We compete against broad-based IT distributors such as Tech Data and Synnex Corporation. There are a number of specialized competitors that focus upon one...

  • Page 17
    ... by incentives, such as early pay discounts offered by suppliers. Trademarks and Service Marks We own or license various trademarks and service marks, including, among others, "Ingram Micro," the Ingram Micro logo, "V7" (Video Seven), "VentureTech Network," "AVAD," and "Vantex." Certain of these...

  • Page 18
    ... of Ingram Micro North America from June 2004 to January 2005, and as the region's senior vice president and chief financial officer from January 2003 to May 2004. Prior to joining Ingram Micro in February 2000 as vice president and controller for the company's United States operations, Mr. Bradley...

  • Page 19
    ...been our executive vice president and president of Ingram Micro Latin America since January 2010. Before joining Ingram Micro, Mr. Araujo served as vice president and general manager, Latin America and the Caribbean for Electronic Data Systems Corporation, which is now a part of Hewlett-Packard from...

  • Page 20
    ...Before joining Ingram Micro, Ms. Carlson served as vice president, communications and investor relations for Equity Marketing, Inc., and for Sierra Health Services, Inc., as well as associate vice president, corporate communications for FHP International Corporation, a health care organization, from...

  • Page 21
    ... discussed in the forward-looking statement(s). Ingram Micro desires to take advantage of the safe harbor provisions of the Act. Our periodic and current reports filed with the Securities and Exchange Commission, periodic press releases, and other public documents and statements, may contain forward...

  • Page 22
    ... a number of internally developed applications, it can be more difficult to upgrade or adapt them compared to commercially available software solutions. We are in the process of implementing a new company-wide single enterprise resource planning ("ERP") software system and related business processes...

  • Page 23
    ... and/or managed. Suppliers may give us limited or no access to new products being introduced. Changes may cause inventory in stock to decline substantially in value or to become obsolete, regardless of the general economic environment. Although it is the policy of many suppliers of IT products to...

  • Page 24
    ... software and hardware, such as site licenses, electronic distribution and cloud computing, our future operating results could be adversely affected. Terminations of a supply or services agreement or a significant change in supplier terms or conditions of sale could negatively affect our operating...

  • Page 25
    ... or declining net sales. In order to continue operating our business, we will continue to need access to capital, including debt financing and inbound and outbound flooring and draft discounting facilities. In addition, changes in payment terms with either suppliers or customers could increase our...

  • Page 26
    ... scope of products, suppliers, and customers, we are dependent in large part on our ability to retain the services of our key management, sales, IT, operational, and finance personnel. Our continued success is also dependent upon our ability to retain and recruit other qualified employees, including...

  • Page 27
    ...terms and conditions imposed by our suppliers and/or competitors and the prices we charge our customers, which in turn may negatively impact our revenues and/or gross margins; • seasonal variations in the demand for our products and services, which historically have included lower demand in Europe...

  • Page 28
    ... Our corporate headquarters is located in Santa Ana, California. We support our global operations through an extensive sales and administrative office and distribution network throughout North America, EMEA, Asia Pacific and Latin America. As of January 1, 2011 we operated 100 distribution centers...

  • Page 29
    ... the U.S. District Court for the Southern District of New York. In April 2009, the trial court in the Kirschner action granted our motion to dismiss, and ordered that judgment be entered in favor of Ingram Micro and our subsidiary. On November 18, 2010 the 2nd Circuit Court of Appeals affirmed that...

  • Page 30
    PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Common Stock. Our Common Stock is traded on the New York Stock Exchange under the symbol IM. The following table sets forth the high and low price per share, based on closing...

  • Page 31
    ...; (ii) net reorganization costs (credits) of $1,137, $34,083, $17,029, ($1,091) and ($1,727) in 2010, 2009, 2008, 2007 and 2006, respectively; (iii) other major-program costs associated with reorganization activities totaling $3,553 and $1,544, charged to selling, general and administrative, or SG...

  • Page 32
    ...economy in general. Our sales and results of operations are also impacted by the integration of several acquisitions worldwide, comprised primarily of small but strategic acquisitions of businesses in the consumer electronics, automatic identification and data capture/point-of-sale, or AIDC/POS, and...

  • Page 33
    ... in North America through the acquisition of DBL Distributing Inc., or DBL, in the U.S., and have expanded our networking products and services offerings through the acquisitions of VPN Dynamics Inc. and Securematics Inc. in the U.S. Working Capital and Debt The IT products and services distribution...

  • Page 34
    ... of these programs may extend over more than one quarterly reporting period. We accrue rebates or other vendor incentives as earned based on sales of qualifying products or as services are provided in accordance with the terms of the related program. Actual rebates may vary based on volume or other...

  • Page 35
    ...490. In light of the continued weak demand for IT products and services in Asia Pacific and globally in 2009, the fair value of our Asia Pacific reporting unit continued to be below the carrying value of its assets. As such, we recorded a charge for the full impairment of the newly recorded goodwill...

  • Page 36
    ... net sales and 0.48% of Latin America net sales. We sell products purchased from many vendors, but generated approximately 23%, 24% and 23% of our net sales in 2010, 2009 and 2008, respectively, from products purchased from Hewlett-Packard Company. There were no other vendors and no customers that...

  • Page 37
    ... Pacific and approximately six percentage points in Latin America. Foreign currency exchange rates did not have a material impact in comparing our consolidated net sales in 2010 to 2009, as the general strengthening of currencies in Asia Pacific and Latin America were offset by an overall weakening...

  • Page 38
    ... to 2008 by approximately six percentage-points in EMEA, approximately five percentage points in Asia Pacific, approximately nine percentage-points in Latin America, and three percentage-points on our consolidated net sales. Our exit of the broad line distribution business in Finland and Norway, as...

  • Page 39
    ... of consolidated net sales, which consisted of (a) $14,588 of employee termination benefits for workforce reductions associated with the restructuring of the regional headquarters in EMEA and certain reductions of administrative and back-office positions in the North America and Asia Pacific regions...

  • Page 40
    ... during 2010; and increased working capital required to support year-over-year sales growth, partially offset by a net foreign exchange gain. The decrease in 2009 compared to 2008 primarily reflects lower net interest expense from decreased borrowings associated with the lower volume of business and...

  • Page 41
    ..., trade and supplier credit, and various financing facilities. As a distributor, our business requires significant investment in working capital, particularly trade accounts receivable and inventory, which is partially financed by vendor trade accounts payable. As a general rule, when sales volumes...

  • Page 42
    .../or new business opportunities through targeted investment in working capital. This could include our strategic pursuit of additional early pay discounts on trade accounts payable or purchase discounts on inventory, or we may allow extended payment terms or larger credit lines to certain customers...

  • Page 43
    ...the related gain on sale were not material. In 2008, we acquired Eurequat in France, Intertrade in Germany, Paradigm in the United Kingdom and Cantechs Group in China. These acquisitions further expanded our value-added distribution of AIDC/POS solutions in EMEA and in Asia Pacific. These businesses...

  • Page 44
    ...in part from time to time, at our option, at redemption prices that are designated in the terms and conditions of the notes. In April 2010, we terminated our revolving trade accounts receivable-backed financing program in North America, which provided for up to $600,000 in borrowing capacity secured...

  • Page 45
    ... receivable-backed programs and credit agreements or other agreements with our creditors as discussed above. Trade Accounts Receivable Factoring Programs In July 2010, we entered into an uncommitted factoring program in North America under which trade accounts receivable of one large customer may be...

  • Page 46
    ... programs(1) ...Asia Pacific revolving trade accounts receivable-backed financing program(1) ...Senior unsecured term loan(2) ...Revolving senior unsecured credit facilities(3) ...Lines of credit and other(3) . . Subtotal ...Minimum payments under: Operating leases(4) ...IT and business process...

  • Page 47
    .... The services include mainframe, major server, desktop and enterprise storage operations, wide-area and local-area network support and engineering; systems management services; and worldwide voice/PBX. This agreement is cancelable at our option. We also have an agreement with a leading global IT...

  • Page 48
    ...Management Foreign exchange and interest rate risk and related derivatives used are monitored using a variety of techniques including a review of market value, sensitivity analysis and Value... defined by the SEC). The trade accounts receivable and accounts payable denominated in foreign currencies, ...

  • Page 49
    ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA INDEX TO CONSOLIDATED FINANCIAL STATEMENTS Page Consolidated Balance Sheet ... Consolidated Financial Statements ...Schedule II - Valuation and Qualifying Accounts ...Report of Independent Registered Public Accounting Firm. . ... 42 43 44 45 46 71 ...

  • Page 50
    INGRAM MICRO INC. CONSOLIDATED BALANCE SHEET (In 000s, except par value) Fiscal Year End 2010 2009 ASSETS Current assets: Cash and cash equivalents ...$1,155,551 Trade accounts receivable (less allowances of $75,794 and $75,018) ...4,138,629 Inventory ...2,914,525 Other current assets ...381,383 ...

  • Page 51
    INGRAM MICRO INC. CONSOLIDATED STATEMENT OF INCOME (In 000s, except per share data) 2010 Fiscal Year Ended 2009 2008 Net sales...$34,588,984 Cost of sales ...32,696,693 Gross profit ...Operating expenses: Selling, general and administrative ...Impairment of goodwill ...Reorganization costs ......

  • Page 52
    ..., net of shares withheld for employee taxes ...Comprehensive income ...January 2, 2010 ...Stock options exercised and shares issued under the stock plan, net of shares withheld for employee taxes ...Income tax benefits for stock plan awards ...Stock-based compensation expense ...Repurchase of Class...

  • Page 53
    ......27,062 Excess tax benefit from stock-based compensation ...(3,723) Gain on sale of land and building ...(2,380) Noncash charges for interest ...1,264 Deferred income taxes ...(8,361) Changes in operating assets and liabilities, net of effects of acquisitions: Trade accounts receivable ...(208,829...

  • Page 54
    ... of information technology ("IT") products and supply chain solutions worldwide. Ingram Micro Inc. and its subsidiaries operate in North America, Europe, Middle East and Africa ("EMEA"), Asia Pacific and Latin America. Note 2 - Significant Accounting Policies Basis of Consolidation The consolidated...

  • Page 55
    ...have been returned to us by our customers. We generally do not independently warrant the products we distribute; however, local laws might impose warranty obligations upon distributors (such as in the case of supplier liquidation). We are obligated to provide warranty protection for sales of certain...

  • Page 56
    ... capital markets in general, we experienced a similar decline in the market value of our common stock. As a result, our market capitalization was significantly lower than the book value of our company. We conducted goodwill impairment tests in each of our regional reporting units that had goodwill...

  • Page 57
    ... globally that are monitored by us regularly for credit quality. Credit risk with respect to trade accounts receivable is limited due to the large number of customers and their dispersion across geographic areas. No single customer has accounted for 10% or more of our consolidated net sales...

  • Page 58
    INGRAM MICRO INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) Fair Value Measurement The carrying amounts of our cash equivalents, trade accounts receivable, marketable trading securities (included in other current assets in our consolidated balance sheet), accounts payable and other ...

  • Page 59
    ... earnings considered indefinitely reinvested. Material changes in our estimates of cash, working capital and long-term investment requirements in the various jurisdictions in which we do business could impact our effective tax rate if such indefinitely reinvested policy is altered. The provision for...

  • Page 60
    ... costs associated with these reorganization actions that were charged to SG&A expenses. Our reorganization costs incurred in 2009, which totaled $31,385 ($18,180 in North America, $9,456 in EMEA, $3,416 in Asia Pacific and $333 in Latin America) were comprised of: employee termination benefits for...

  • Page 61
    ...BVBA and Albora Soluciones SL in our EMEA region and the assets and liabilities of Asiasoft Hong Kong Limited in our Asia Pacific region. These acquisitions further strengthen our capabilities in virtualization, security and middleware solutions and enterprise computing. These entities were acquired...

  • Page 62
    ...2008, we acquired Eurequat SA in France, Intertrade A.F. AG in Germany, Paradigm Distribution Ltd. in the United Kingdom and Cantechs Group in China. These acquisitions further expanded our value-added distribution of AIDC/POS solutions in EMEA and Asia Pacific. These businesses were acquired for an...

  • Page 63
    ...in part from time to time, at our option, at redemption prices that are designated in the terms and conditions of the notes. In April 2010, we terminated our revolving trade accounts receivable-backed financing program in North America, which provided for up to $600,000 in borrowing capacity secured...

  • Page 64
    INGRAM MICRO INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) had no borrowings outstanding at January 1, 2011 and had $57,526 outstanding at January 2, 2010 under this Asia Pacific financing program. Our ability to access financing under all our trade accounts receivable-backed ...

  • Page 65
    ... can incur, dividends we can pay, and the amount of common stock that we can repurchase annually. At January 1, 2011, we were in compliance with all material covenants or other material requirements set forth in our trade accounts receivable-backed programs and credit agreements, as discussed above...

  • Page 66
    INGRAM MICRO INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) The provision for (benefit from) income taxes consists of the following: 2010 Fiscal Year Ended 2009 2008 Current: Federal ...State ...Foreign ...Deferred: Federal ...State ...Foreign ...Provision for income taxes ... $ 36,...

  • Page 67
    ... 10, 2010, Congress enacted the Education Jobs & Medicaid Assistance Act ("EJMA"). EJMA includes significant international tax revenue raisers which are generally effective January 1, 2011. These provisions generally attempt to limit a taxpayer's ability to fully claim tax credits for previously...

  • Page 68
    INGRAM MICRO INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) credits prior to expiry through 2020. At January 1, 2011, total deferred tax assets related to foreign tax credit carryforwards was $61,339 and our total valuation allowance related to such credit carryforwards were $43,246. ...

  • Page 69
    INGRAM MICRO INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) liabilities of $2,036, including interest, for previously recorded unrecognized tax benefits ultimately realized. During the second quarter of 2010, the IRS initiated an examination of our federal income tax returns for tax ...

  • Page 70
    ... market data. At January 1, 2011 and January 2, 2010, our assets and liabilities measured at fair value on a recurring basis included cash equivalents, consisting primarily of money market accounts and short-term certificates of deposit, of $532,985 and $168,157, respectively, and marketable trading...

  • Page 71
    ...include mainframe, major server, desktop and enterprise storage operations, wide-area and local-area network support and engineering; systems management services; and worldwide voice/PBX. This agreement is cancelable at our option. We also have an agreement with a leading global IT outsource service...

  • Page 72
    ..., Belgium, France, Germany, Hungary, Israel, Italy, the Netherlands, Spain, Sweden, Switzerland and the United Kingdom), Asia Pacific (Australia, the People's Republic of China including Hong Kong, India, Malaysia, New Zealand, Singapore and Thailand), and Latin America (Argentina, Brazil, Chile...

  • Page 73
    INGRAM MICRO INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) Financial information by geographic segments is as follows: 2010 Fiscal Year Ended 2009 2008 Net sales North America ...EMEA ...Asia Pacific ...Latin America ...Total ...Income (loss) from operations North America ...EMEA ...

  • Page 74
    INGRAM MICRO INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) Fiscal Year End 2010 2009 Identifiable assets North America ...EMEA ...Asia Pacific ...Latin America ... ... $3,862,870 3,122,435 1,635,544 463,183 $9,084,032 $3,586,238 2,753,847 1,373,553 465,712 $8,179,350 Total ... ...

  • Page 75
    ... number of shares that would have otherwise been issued as a result of the vesting. In 2010 and 2009, the Human Resources...number of in-the-money options on January 1, 2011. This amount changes based on the fair market value of our common stock. Total intrinsic value of stock options exercised in 2010...

  • Page 76
    ... $11.15 14.31 17.96 20.71 16.37 Activity related to restricted stock and restricted stock units was as follows for the three years ended January 1, 2011: Number of Shares (in 000s) WeightedAverage Grant Date Fair Value Non-vested at December 29, 2007 ...Granted ...Vested ...Forfeited...Non-vested...

  • Page 77
    ... of treasury shares. Such shares are issued to certain of our associates for the vesting of their equity awards under the Ingram Micro Amended and Restated 2003 Equity Incentive Plan. Our stock repurchase and issuance activity for 2010, 2009 and 2008 is summarized as follows: Shares Repurchased (in...

  • Page 78
    INGRAM MICRO INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) There were no issued and outstanding shares of Class B Common Stock or Preferred Stock during the threeyear period ended January 1, 2011. The detail of changes in the number of outstanding shares of Class A Common Stock for ...

  • Page 79
    INGRAM MICRO INC. SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Dollars in 000s) Description Balance at Beginning of Year Charged to Costs and Expenses Deductions Other(*) Balance at End of Year Allowance for doubtful accounts: 2010 ...2009 ...2008 ...Allowance for sales returns: 2010 ...2009 ...

  • Page 80
    ... of Ingram Micro Inc. and its subsidiaries at January 1, 2011 and January 2, 2010, and the results of their operations and their cash flows for each of the three years in the period ended January 1, 2011 in conformity with accounting principles generally accepted in the United States of America. In...

  • Page 81
    ... met. Management's Report on Internal Control over Financial Reporting. Our management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rule 13a-15(f) of the Securities Exchange Act of 1934. Because of its inherent limitations, internal...

  • Page 82
    ... June 10, 2010) Form of Indenture between Ingram Micro Inc. and Deutsche Bank Trust Company Americas (incorporated by reference to Exhibit 4.3 to Ingram Micro Inc.'s Registration Statement on Form S-3 (File No. 333-168859)) Compensation Program - Ingram Micro Inc. Compensation Policy for Members of...

  • Page 83
    ... Report on Form 10-Q for the 2009 quarter ended July 4, 2009) Credit Agreement dated as of August 23, 2007 among Ingram Micro Inc. and its subsidiaries Ingram Micro Coordination Center B.V.B.A. and Ingram Micro Europe Treasury LLC, The Bank of Nova Scotia, as administrative agent, Bank of America...

  • Page 84
    ...for Shailendra Gupta dated September 12, 2008 Ingram Micro Code of Conduct (incorporated by reference to Exhibit 99.1 to Ingram Micro Inc.'s Current Report on Form 8-K filed on November 13, 2007) Subsidiaries of the Registrant Consent of Independent Registered Public Accounting Firm Certification by...

  • Page 85
    ... Stock Units Award Agreement for NonEuropean Union Countries Compensation Agreement - Form of Time-Based Restricted Stock Units Award Agreement for France Amended Human Resources Committee Charter, dated June 3, 2009 (incorporated by reference to Exhibit 99.1 to Ingram Micro Inc.'s Current Report...

  • Page 86
    ...15(d) OF THE SECURITIES EXCHANGE ACT OF 1934, THE REGISTRANT HAS DULY CAUSED THIS REPORT TO BE SIGNED ON ITS BEHALF BY THE UNDERSIGNED, THEREUNTO DULY AUTHORIZED. INGRAM MICRO INC. By: /s/ Larry C. Boyd Larry C. Boyd Executive Vice President, Secretary and General Counsel March 2, 2011 PURSUANT TO...

  • Page 87
    SIGNATURE TITLE DATE /s/ Scott A. McGregor Scott A. McGregor /s/ Michael T. Smith Michael T. Smith /s/ Joe B. Wyatt Joe B. Wyatt Director March 2, 2011 Director March 2, 2011 Director March 2, 2011 79

  • Page 88
    (This page intentionally left blank)

  • Page 89
    ...-161976) of Ingram Micro Inc. of our report dated March 2, 2011 relating to the financial statements, financial statement schedule and the effectiveness of internal control over financial reporting, which appears in this Form 10-K. PricewaterhouseCoopers LLP Orange County, California Dated: March...

  • Page 90
    ...the registrant's ability to record, process, summarize and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: March 2, 2011 /s/ Gregory...

  • Page 91
    ...other employees who have a significant role in the registrant's internal control over financial reporting. Date: March 2, 2011 /s/ William D. Humes Name: William D. Humes Title: Senior Executive Vice President and Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer...

  • Page 92
    ... connection with the report on Form 10-K of Ingram Micro Inc. (the "Report") for the purpose of complying with Rule 13a-14(b) or Rule 15d-14(b) of the Securities Exchange Act of 1934 (the "Exchange Act") and Section 1350 of Chapter 63 of Title 18 of the United States Code. Gregory M.E. Spierkel, the...

  • Page 93
    ... last trading day of our 2010 fiscal year (December 31, 2010). The historical price performance of our common stock is not an indication of its future performance. COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN* Among Ingram Micro Inc., The NYSE Composite Index and SIC Code Index $250 200 INGRAM MICRO...

  • Page 94
    ... 1 to Ingram Micro 2010 Annual Report Reconciliation of GAAP to Non-GAAP Financial Measures ($ in thousands, except per share data) Fiscal Year...96 1.59 166,542,541 (1) GAAP results for fiscal 2008 include the impact of the charge for the impairment of goodwill of $742,653 pre-tax, or $659,780 after-...

  • Page 95
    ...Chief Information Officer Ria M. Carlson Senior Vice President, Communications and Brand Management G. Sam Kamel Senior Vice President, Corporate Strategy Corporate Offices Ingram Micro Inc. 1600 E. St. Andrew Place Santa Ana, CA 92705 Phone: 714.566.1000 Annual Meeting The 2011 Annual Meeting of...

  • Page 96
    © 2011 Ingram Micro Inc. All rights reserved. Ingram Micro and the Ingram Micro logo are trademarks used under license by Ingram Micro Inc. 4/11 X-000079