OfficeMax 2010 Annual Report Download - page 59
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ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
OfficeMax Incorporated and Subsidiaries
Consolidated Statements of Operations
Fiscal year ended
December 25,
2010
December 26,
2009
December 27,
2008
(thousands, except per-share amounts)
Sales .................................................... $7,150,007 $7,212,050 $ 8,267,008
Cost of goods sold and occupancy costs ........................ 5,300,355 5,474,452 6,212,591
Gross profit ........................................... 1,849,652 1,737,598 2,054,417
Operating expenses
Operating, selling, and general and administrative expenses ..... 1,689,130 1,674,711 1,862,555
Goodwill and other asset impairments ...................... 10,979 17,612 2,100,212
Other operating expenses ................................ 3,077 49,263 27,851
Operating income (loss) ................................. 146,466 (3,988) (1,936,201)
Interest expense ........................................... (73,333) (76,363) (113,641)
Interest income ............................................ 42,635 47,270 57,564
Other income (expense) ..................................... (32) 2,748 19,878
Pre-tax income (loss) ................................... 115,736 (30,333) (1,972,400)
Income tax benefit (expense) ................................. (41,872) 28,758 306,481
Net income (loss) attributable to OfficeMax and noncontrolling
interest ............................................ 73,864 (1,575) (1,665,919)
Joint venture results attributable to noncontrolling interest .......... (2,709) 2,242 7,987
Net income (loss) attributable to OfficeMax $ 71,155 $ 667 $(1,657,932)
Preferred dividends ......................................... (2,527) (2,818) (3,663)
Net income (loss) available to OfficeMax common shareholders $ 68,628 $ (2,151) $(1,661,595)
Net income (loss) per common share
Basic ................................................ $ 0.81 $ (0.03) $ (21.90)
Diluted .............................................. $ 0.79 $ (0.03) $ (21.90)
See accompanying notes to consolidated financial statements
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