OfficeMax 2009 Annual Report Download - page 14

Download and view the complete annual report

Please find page 14 of the 2009 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 116

  • 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

Fluctuations in our effective tax rate may adversely affect our results of operations. We
are a multi-national, multi-channel provider of office products and services. As a result, our effective
tax rate is derived from a combination of applicable tax rates in the various countries, states and
other jurisdictions in which we operate. Our effective tax rate may be lower or higher than our tax
rates have been in the past due to numerous factors, including the sources of our income, any
agreements we may have with taxing authorities in various jurisdictions, and the tax filing positions
we take in various jurisdictions. We base our estimate of an effective tax rate at any given point in
time upon a calculated mix of the tax rates applicable to our company and to estimates of the
amount of business likely to be done in any given jurisdiction. The loss of one or more agreements
with taxing jurisdictions, a change in the mix of our business from year to year and from country to
country, changes in rules related to accounting for income taxes, changes in tax laws in any of the
multiple jurisdictions in which we operate or adverse outcomes from tax audits that we may be
subject to in any of the jurisdictions in which we operate could result in an unfavorable change in
our effective tax rate.
ITEM 1B. UNRESOLVED STAFF COMMENTS
None.
10