Office Depot 2010 Annual Report Download - page 34

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OFFICE DEPOT, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
2010 2009 2008
(Restated)
Sales .................................................. $11,633,094 $12,144,467 $14,495,544
Cost of goods sold and occupancy costs ....................... 8,275,957 8,752,283 10,489,785
Gross profit ........................................... 3,357,137 3,392,184 4,005,759
Store and warehouse operating and selling expenses ............. 2,684,301 2,907,900 3,322,662
Goodwill and trade name impairments ........................ —— 1,269,893
Other asset impairments ................................... 51,295 26,175 222,379
General and administrative expenses ......................... 658,832 723,114 743,174
Amortization of deferred gain on sale of building ............... —— (7,308)
Operating loss ......................................... (37,291) (265,005) (1,545,041)
Other income (expense):
Interest income ........................................ 4,663 2,396 10,013
Interest expense ........................................ (58,498) (65,628) (68,286)
Miscellaneous income, net ............................... 34,451 17,085 23,666
Loss before income taxes .................................. (56,675) (311,152) (1,579,648)
Income tax expense (benefit) ............................... (10,470) 287,572 (98,645)
Net loss ................................................ (46,205) (598,724) (1,481,003)
Less: Net loss attributable to the noncontrolling interest .......... (1,582) (2,259) (2,065)
Net loss attributable to Office Depot, Inc. ..................... (44,623) (596,465) (1,478,938)
Preferred stock dividends .................................. 37,113 30,506 —
Net loss attributable to common shareholders .................. $ (81,736) $ (626,971) $ (1,478,938)
Net earnings (loss) per share:
Basic .............................................. $ (0.30) $ (2.30) $ (5.42)
Diluted ............................................. (0.30) (2.30) (5.42)
The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.
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