Ingram Micro 2011 Annual Report Download - page 35

ITEM 6. SELECTED FINANCIAL DATA
SELECTED CONSOLIDATED FINANCIAL DATA
The following table presents our selected consolidated financial data. The results of operations of our
acquisitions have been consolidated with our results of operations beginning on their acquisition dates. The
information set forth below should be read in conjunction with “Item 7. Management’s Discussion and Analysis
of Financial Condition and Results of Operations” and the historical consolidated financial statements and notes
thereto, included elsewhere in this Annual Report on Form 10-K.
Our fiscal year is a 52-week or 53-week period ending on the Saturday nearest to December 31. References
below to “2011,” “2010,” “2009,” “2008,” and “2007” represent the fiscal years ended December 31, 2011
(52-weeks), January 1, 2011 (52-weeks), January 2, 2010 (52-weeks), January 3, 2009 (53-weeks) and
December 29, 2007 (52-weeks), respectively.
2011 2010 2009 2008 2007
($ in 000s, except per share data)
Selected Operating Information
Net sales ....................... $36,328,701 $34,588,984 $29,515,446 $34,362,152 $35,047,089
Gross profit(1) ................... 1,908,282 1,892,291 1,670,209 1,940,091 1,909,298
Income (loss) from operations(2) .... 458,646 484,433 295,940 (332,169) 446,420
Income (loss) before income taxes . . . 387,871 438,061 269,248 (382,138) 385,238
Net income (loss)(3) .............. 244,240 318,060 202,138 (394,921) 275,908
Basic earnings (loss) per share ...... 1.57 1.98 1.24 (2.37) 1.61
Diluted earnings (loss) per share ..... 1.53 1.94 1.22 (2.37) 1.56
Selected Balance Sheet Information
Cash and cash equivalents .......... $ 891,403 $ 1,155,551 $ 910,936 $ 763,495 $ 579,626
Total assets ..................... 9,146,516 9,084,032 8,179,350 7,083,473 8,975,001
Total debt ....................... 392,428 636,401 379,495 478,388 523,116
Stockholders’ equity .............. 3,272,777 3,241,182 3,011,813 2,655,845 3,426,942
(1) Includes a net charge to cost of sales of $30,134 in 2007 related to the reserve recorded for the potential
liability for certain commercial taxes in Brazil, as well as reductions in cost of sales of $9,112, $9,758 and
$8,224 in 2010, 2009 and 2008, respectively, for the release of portions of this reserve as the statute of
limitations for an assessment had expired.
(2) Includes items from footnote (1) above as well as: (i) charges for the impairment of goodwill of $2,490 and
$742,653 in 2009 and 2008, respectively; (ii) net reorganization costs (credits) of $5,131, $1,137, $34,083,
$17,029, and ($1,091) in 2011, 2010, 2009, 2008 and 2007, respectively; and (iii) a charge of $15,000 in
2007 associated with the loss on settlement of a SEC matter regarding certain transactions with McAfee,
Inc. (formerly NAI) from 1998 through 2000.
(3) Includes the after-tax impact of items noted in footnotes (1) and (2) above and a non-cash income tax charge
of $24,810 in 2011 for a valuation allowance recorded against our deferred tax assets in Brazil.
ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
Unless otherwise stated, all currency amounts, other than per share information, contained in this
Management’s Discussion and Analysis of Financial Condition and Results of Operations, are stated in
thousands.
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