Office Depot 2010 Annual Report Download - page 43

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The effects of the restatement on the consolidated statements of operations for fiscal year 2010 are summarized
in the following table:
Fiscal Year Ended December 25, 2010
(In thousands)
Previously
Reported Adjustments Restated
Income tax benefit ............................................... $(89,985) $ 79,515 $(10,470)
Net earnings (loss) ............................................... 33,310 (79,515) (46,205)
Net earnings (loss) attributable to Office Depot, Inc. .................... 34,892 (79,515) (44,623)
Net loss attributable to common shareholders ......................... (2,221) (79,515) (81,736)
Earnings per common share:
Basic ....................................................... $ (0.01) $ (0.29) $ (0.30)
Diluted ...................................................... $ (0.01) $ (0.29) $ (0.30)
The effects of the restatement on the consolidated statement of comprehensive loss for fiscal year 2010 is
summarized in the following table:
Fiscal Year Ended December 25, 2010
(In thousands)
Previously
Reported Adjustments Restated
Net earnings (loss) .............................................. $33,310 $(79,515) $(46,205)
Comprehensive income (loss) ..................................... 19,072 (79,515) (60,443)
Comprehensive income (loss) attributable to Office Depot, Inc. .......... 20,320 (79,515) (59,195)
The effects of the restatement on the consolidated statement of cash flows for fiscal year 2010 is summarized in
the following table:
Fiscal Year Ended December 25, 2010
(In thousands)
Previously
Reported Adjustments Restated
Cash flow from operating activities:
Net earnings (loss) .......................................... $ 33,310 $(79,515) $ (46,205)
Decrease (increase) in receivables ............................. (2,440) 62,713 60,273
Net decrease (increase) in prepaid expenses and other assets ........ (17,694) 20,216 2,522
Total adjustments .......................................... 166,402 82,929 249,331
Cash provided by operating activities ............................. 199,712 3,414 203,126
Cash flow from investing activities
Acquisitions, net of cash acquired, and related payments ........... (32,738) 21,786 (10,952)
Net cash provided by (used in) investing activities .................. (213,306) 21,786 (191,520)
Cash flow from investing activities
Tax benefit from employee share-based exercises ................. 3,414 (3,414) —
Payment for non-controlling interests ........................... — (21,786) (21,786)
Net cash provided by (used in) financing activities .................. (5,698) (25,200) (30,898)
NOTE C — REDEEMABLE PREFERRED STOCK
On June 23, 2009, Office Depot, Inc. issued 274,596 shares of 10.00% Series A Redeemable Convertible
Participating Perpetual Preferred Stock, par value $0.01 per share (“Series A Preferred Stock”), and 75,404
shares of 10.00% Series B Redeemable Conditional Convertible Participating Perpetual Preferred Stock, par
value $0.01 per share (“Series B Preferred Stock”), to funds advised by BC Partners, Inc. (the “Investors”), for
$350 million (collectively, the “Preferred Stock”). The issued shares are out of 280,000 authorized shares of
Series A Preferred Stock and 80,000 authorized shares of Series B Preferred Stock. Approval of conversion and
voting rights for these shares was received at a special shareholders’ meeting on October 14, 2009.
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