Ingram Micro 2010 Annual Report Download - page 31

ITEM 6. SELECTED FINANCIAL DATA
SELECTED CONSOLIDATED FINANCIAL DATA
The following table presents our selected consolidated financial data. The results of operations of our
acquisitions have been consolidated with our results of operations beginning on their acquisition dates. The
information set forth below should be read in conjunction with “Item 7. Management’s Discussion and Analysis of
Financial Condition and Results of Operations” and the historical consolidated financial statements and notes
thereto, included elsewhere in this Annual Report on Form 10-K.
Our fiscal year is a 52-week or 53-week period ending on the Saturday nearest to December 31. References
below to “2010,” “2009,” “2008,” “2007” and “2006” represent the fiscal years ended January 1, 2011 (52-weeks),
January 2, 2010 (52-weeks), January 3, 2009 (53-weeks), December 29, 2007 (52-weeks) and December 30, 2006
(52-weeks), respectively.
2010 2009 2008 2007 2006
($ in 000s, except per share data)
Selected Operating Information
Net sales . . ...................... $34,588,984 $29,515,446 $34,362,152 $35,047,089 $31,357,477
Gross profit(1) . . .................. 1,892,291 1,670,209 1,940,091 1,909,298 1,685,285
Income (loss) from operations(2) . ...... 484,433 295,940 (332,169) 446,420 422,444
Income (loss) before income taxes(2) . . . . 438,061 269,248 (382,138) 385,238 367,333
Net income (loss)(3) . . .............. 318,060 202,138 (394,921) 275,908 265,766
Basic earnings (loss) per share . . . ...... 1.98 1.24 (2.37) 1.61 1.61
Diluted earnings (loss) per share . ...... 1.94 1.22 (2.37) 1.56 1.56
Selected Balance Sheet Information
Cash and cash equivalents . . .......... $ 1,155,551 $ 910,936 $ 763,495 $ 579,626 $ 333,339
Total assets . ...................... 9,084,032 8,179,350 7,083,473 8,975,001 7,704,307
Total debt . . ...................... 636,401 379,495 478,388 523,116 509,507
Stockholders’ equity . . .............. 3,241,182 3,011,813 2,655,845 3,426,942 2,920,475
(1) Includes a net charge to cost of sales of $30,134 in 2007 related to the reserve recorded for the potential liability
for certain commercial taxes in Brazil, as well as reductions in cost of sales of $9,112, $9,758 and $8,224 in
2010, 2009 and 2008, respectively, for the release of portions of this reserve as the statute of limitations for an
assessment had expired.
(2) Includes items from footnote (1) above as well as: (i) charges for the impairment of goodwill of $2,490 and
$742,653 in 2009 and 2008, respectively; (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 admin-
istrative, or SG&A, expenses in 2009 and 2008, respectively; and (iv) a charge of $15,000 in 2007 associated
with the loss on settlement of a SEC matter regarding certain transactions with McAfee, Inc. (formerly NAI)
from 1998 through 2000.
(3) Includes the after-tax impact of items noted in footnotes (1) through (2) above.
ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
Unless otherwise stated, all currency amounts, other than per share information, contained in this Manage-
ment’s Discussion and Analysis of Financial Condition and Results of Operations are stated in thousands.
23