OfficeMax 2010 Annual Report Download - page 75

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The changes in the intangible carrying amounts from December 29, 2007 to December 25, 2010, were as
follows:
Trade names
Customer
lists and
relationships
Noncompete
agreements
Exclusive
distribution
rights Total
(thousands)
Net carrying amount, December 29, 2007 .... $ 173,150 $ 20,309 $ 2,042 $ 4,219 $ 199,720
Impairment ............................ (107,150) — — — (107,150)
Amortization ........................... — (2,912) (2,041) (409) (5,362)
Effect of foreign currency translation ........ — (4,478) (1) (936) (5,415)
Net carrying amount, December 27, 2008 .... $ 66,000 $ 12,919 $ — $ 2,874 $ 81,793
Amortization ........................... — (1,271) — (363) (1,634)
Effect of foreign currency translation ........ — 2,897 — 750 3,647
Net carrying amount, December 26, 2009 .... $ 66,000 $ 14,545 $ — $ 3,261 $ 83,806
Amortization ........................... — (1,542) — (413) (1,955)
Effect of foreign currency translation ........ — 1,015 — 365 1,380
Net carrying amount, December 25, 2010 .... $ 66,000 $ 14,018 $ — $ 3,213 $ 83,231
6. Net Income (Loss) Per Common Share
Basic net income (loss) per share is calculated using net earnings available to holders of our common stock
divided by the weighted average number of shares of common stock outstanding during the year. Diluted net
income (loss) per share is similar to basic net income (loss) per share except that the weighted average number of
shares of common stock outstanding is increased to include, if their inclusion is dilutive, the number of additional
shares of common stock that would have been outstanding assuming the issuance of all potentially dilutive
shares, such as common stock to be issued upon exercise of options and the vesting of non-vested restricted
shares, and the conversion of outstanding preferred stock. Net income (loss) per common share was determined
by dividing net income (loss), as adjusted, by weighted average shares outstanding as follows:
2010 2009 2008
(thousands, except per-share amounts)
Net income (loss) available to OfficeMax common shareholders ........... $68,628 $ (2,151) $(1,661,595)
Average shares—basic(a) ......................................... 84,908 77,483 75,862
Restricted stock, stock options and other(b) ........................... 1,604 — —
Average shares—diluted .......................................... 86,512 77,483 75,862
Net income (loss) available to OfficeMax common shareholders per common
share: .......................................................
Basic ...................................................... $ 0.81 $ (0.03) $ (21.90)
Diluted .................................................... $ 0.79 $ (0.03) $ (21.90)
(a) The assumed conversion of outstanding preferred stock was anti-dilutive in all periods presented, and
therefore no adjustment was required to determine diluted income (loss) from continuing operations or
average shares-diluted.
(b) Options to purchase 1.7 million shares of common stock were outstanding during 2010, but were not
included in the computation of diluted income (loss) per common share because the impact would have been
anti-dilutive as the option price was higher than the average market price during the year. Outstanding
options to purchase shares of common stock totaled 1.3 million and 1.5 million at the end of 2009 and 2008,
respectfully, but were not included in the computation of diluted income (loss) per common share because
the impact would have been anti-dilutive due to the loss reported for the period.
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