OfficeMax 2007 Annual Report Download - page 19

Download and view the complete annual report

Please find page 19 of the 2007 OfficeMax annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 124

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124

ITEM 6. SELECTED FINANCIAL DATA
The following table sets forth our selected financial data for the years indicated and should be
read in conjunction with the disclosures in ‘‘Item 7. Management’s Discussion and Analysis of
Financial Condition and Results of Operations’’ and ‘‘Item 8. Financial Statements and
Supplementary Data’’ of this Form 10-K.
2007(a) 2006(b) 2005(c) 2004(d) 2003(e)
(millions, except per-share amounts)
Assets
Current assets .......................... $ 2,205 $ 2,097 $1,942 $ 3,241 $2,597
Property and equipment, net ................ 581 580 535 541 2,730
Timber, timberlands and timber deposits ........ — — — — 331
Goodwill ............................... 1,217 1,216 1,218 1,165 1,107
Timber notes receivable .................... 1,635 1,635 1,635 1,635 —
Other ................................. 646 688 942 1,055 611
$ 6,284 $ 6,216 $6,272 $ 7,637 $7,376
Liabilities and shareholders’ equity
Current liabilities ......................... $ 1,371 $ 1,529 $1,588 $ 1,857 $1,986
Long-term debt, less current portion ........... 349 384 407 585 2,000
Timber notes securitized ................... 1,470 1,470 1,470 1,470 —
Other ................................. 783 817 1,044 1,091 1,046
Minority interest ......................... 32 30 27 23 20
Shareholders’ equity ...................... 2,279 1,986 1,736 2,611 2,324
$ 6,284 $ 6,216 $6,272 $ 7,637 $7,376
Net sales .............................. $ 9,082 $ 8,966 $9,158 $13,270 $8,245
Income (loss) from:
Continuing operations ..................... $ 207 $ 99 $ (41) $ 234 $ 35
Discontinued operations ................... — (7) (33) (61) (18)
Cumulative effect of accounting changes, net of
income tax ........................... — — — — (9)
Net income (loss) ........................ $ 207 $ 92 $ (74) $ 173 $ 8
Basic income (loss) per common share:
Continuing operations ..................... $ 2.70 $ 1.30 $ (0.58) $ 2.55 $ 0.37
Discontinued operations ................... — (0.10) (0.41) (0.70) (0.30)
Cumulative effect of accounting changes, net of
income tax ........................... — — — — (0.15)
Basic income (loss) per common share(f) ..... $ 2.70 $ 1.20 $ (0.99) $ 1.85 $ (0.08)
Diluted income (loss) per common share:
Continuing operations ..................... $ 2.66 $ 1.29 $ (0.58) $ 2.44 $ 0.37
Discontinued operations ................... — (0.10) (0.41) (0.67) (0.30)
Cumulative effect of accounting changes, net of
income tax ........................... — — — — (0.15)
Diluted income (loss) per common share(f) .... $ 2.66 $ 1.19 $ (0.99) $ 1.77 $ (0.08)
Cash dividends declared per common share ..... $ 0.60 $ 0.60 $ 0.60 $ 0.60 $ 0.60
See notes on following page.
15