OfficeMax 2011 Annual Report Download - page 74
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ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
OfficeMax Incorporated and Subsidiaries
Consolidated Statements of Operations
Fiscal year ended
December 31,
2011
December 25,
2010
December 26,
2009
(thousands, except per-share amounts)
Sales .................................................... $7,121,167 $7,150,007 $7,212,050
Cost of goods sold and occupancy costs ......................... 5,311,987 5,300,355 5,474,452
Gross profit ........................................... 1,809,180 1,849,652 1,737,598
Operating expenses
Operating, selling, and general and administrative expenses ..... 1,690,967 1,689,130 1,674,711
Asset impairments ...................................... 11,197 10,979 17,612
Other operating expenses, net ............................. 20,530 3,077 49,263
Operating income (loss) ................................. 86,486 146,466 (3,988)
Interest expense ............................................ (73,136) (73,333) (76,363)
Interest income ............................................ 44,000 42,635 47,270
Other income (expense), net .................................. 287 (32) 2,748
Pre-tax income (loss) .................................... 57,637 115,736 (30,333)
Income tax benefit (expense) ................................. (19,517) (41,872) 28,758
Net income (loss) attributable to OfficeMax and noncontrolling
interest ............................................. 38,120 73,864 (1,575)
Joint venture results attributable to noncontrolling interest .......... (3,226) (2,709) 2,242
Net income attributable to OfficeMax .......................... $ 34,894 $ 71,155 $ 667
Preferred dividends ......................................... (2,123) (2,527) (2,818)
Net income (loss) available to OfficeMax common shareholders ..... $ 32,771 $ 68,628 $ (2,151)
Net income (loss) per common share
Basic ................................................ $ 0.38 $ 0.81 $ (0.03)
Diluted ............................................... $ 0.38 $ 0.79 $ (0.03)
See accompanying notes to consolidated financial statements
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