CompUSA 2014 Annual Report Download - page 11

In March 2015 the Company announced that its Technology Products business segment would be exiting the retail store business in order to
accelerate its focus on its B2B operations as well as transitioning retail customers to online consumer sales. This exit plan includes the closing of
substantially all of its retail stores and consumer operations. As a result the Company will see a substantial decline in retail revenues ;
however
the Company expects that its sales will be less seasonal in nature in the future.
Environmental Matters
Under various national, state and local environmental laws and regulations in North America and Western Europe, a current or previous owner
or operator (including the lessee) of real property may become liable for the costs of removal or remediation of hazardous substances at such real
property. Such laws and regulations often impose liability without regard to fault. We lease most of our facilities. In connection with such
leases, we could be held liable for the costs of removal or remedial actions with respect to hazardous substances. Although we have not been
notified of, and are not otherwise aware of, any material real property environmental liability, claim or non-
compliance, there can be no
assurance that we will not be required to incur remediation or other costs in connection with real property environmental matters in the future.
Financial Information About Foreign and Domestic Operations
We currently sell our products in North America (the United States, Puerto Rico and Canada) and Europe. Approximately 40.1%, 38.8%, and
37.8% of our net sales during 2014, 2013 and 2012, respectively were made by subsidiaries located outside of the United States. For
information pertaining to our international operations, see Note 12, “Segment and Related Information,”
to the Consolidated Financial
Statements included in Item 15 of this Form 10-
K. The following sets forth selected information with respect to our operations, excluding
discontinued operations, in those two geographic markets (in millions):
See Item 7, “Management’s Discussions and Analysis of Financial Condition and Results of Operations”,
for further information with respect to
our operations.
Available Information
We maintain an internet website at www.systemax.com. We file reports with the Securities and Exchange Commission and make available free
of charge on or through this website our annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-
K,
including all amendments to those reports. These are available as soon as is reasonably practicable after they are filed with the SEC. All reports
mentioned above are also available from the SEC’
s website (www.sec.gov). The information on our website is not part of this or any other report
we file with, or furnish to, the SEC.
Our Board of Directors has adopted the following corporate governance documents with respect to the Company (the “
Corporate Governance
Documents”):
In accordance with the listing standards of the New York Stock Exchange, each of the Corporate Governance Documents is available on our
Company website (www.systemax.com).
8
Table of Contents
North
America
Europe and
Asia
Total
2014
Net sales
$
2,252.9
$
1,189.9
$
3,442.8
Operating (loss)
$
(2.8
)
$
(23.1
)
$
(25.9
)
Identifiable assets
$
580.0
$
314.9
$
894.9
2013
Net sales
$
2,256.9
$
1,095.4
$
3,352.3
Operating (loss)
$
(14.9
)
$
(5.7
)
$
(20.6
)
Identifiable assets
$
610.2
$
332.0
$
942.2
2012
Net sales
$
2,417.6
$
1,126.7
$
3,544.3
Operating (loss)
$
(63.6
)
$
23.7
$
(39.9
)
Identifiable assets
$
642.9
$
319.4
$
962.3
• Corporate Ethics Policy for officers, directors and employees
• Charter for the Audit Committee of the Board of Directors
• Charter for the Compensation Committee of the Board of Directors
• Charter for the Nominating/Corporate Governance Committee of the Board of Directors
• Corporate Governance Guidelines and Principles