OfficeMax 2009 Annual Report Download - page 50

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ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
OfficeMax Incorporated and Subsidiaries
Consolidated Statements of Operations
Fiscal year ended
December 26, December 27, December 29,
2009 2008 2007
(thousands, except per-share amounts)
Sales ............................... $7,212,050 $ 8,267,008 $9,081,962
Cost of goods sold and occupancy costs ..... 5,474,452 6,212,591 6,771,657
Gross profit ........................ 1,737,598 2,054,417 2,310,305
Operating expenses
Operating and selling .................. 1,377,057 1,555,615 1,633,606
General and administrative .............. 297,654 306,940 332,528
Goodwill and other asset impairments ...... 17,612 2,100,212 —
Other operating, net ................... 49,263 27,851 —
Operating income (loss) ............. (3,988) (1,936,201) 344,171
Interest expense ....................... (76,363) (113,641) (121,271)
Interest income ........................ 47,270 57,564 87,940
Other income, net ...................... 2,748 19,878 26,687
Pre-tax income (loss) ................. (30,333) (1,972,400) 337,527
Income tax benefit (expense) .............. 28,758 306,481 (125,282)
Net income (loss) attributable to OfficeMax
and noncontrolling interest ........... (1,575) (1,665,919) 212,245
Joint venture results attributable to
noncontrolling interest .................. 2,242 7,987 (4,872)
Net income (loss) attributable to OfficeMax .. $ 667 $(1,657,932) $ 207,373
Preferred dividends ..................... (2,818) (3,663) (3,961)
Net income (loss) available to OfficeMax
common shareholders ................ $ (2,151) $(1,661,595) $ 203,412
Net income (loss) per common share
Basic .............................. $ (0.03) $ (21.90) $ 2.70
Diluted ............................. $ (0.03) $ (21.90) $ 2.66
See accompanying notes to consolidated financial statements
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