Office Depot 2010 Annual Report Download - page 67

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million, respectively, is included in other assets in the Consolidated Balance Sheets. The following tables provide
summarized unaudited information from the balance sheet and statement of earnings for Office Depot de
Mexico:
(Dollars in thousands) 2010 2009 2008
Statement of earnings:
Sales ............................................. $961,616 $825,603 $952,566
Gross profit ........................................ 283,189 243,957 278,764
Net income ........................................ 61,269 61,159 74,226
(Dollars in thousands) December 31, 2010 December 31, 2009
Balance Sheet:
Current assets ...................................... $328,854 $219,030
Non-current assets .................................. 289,200 260,074
Current liabilities ................................... 202,834 141,944
Non-current liabilities ............................... 3,667 —
NOTE S — QUARTERLY FINANCIAL DATA (UNAUDITED)
(In thousands, except per share amounts) First Quarter Second Quarter(1) Third Quarter(2) Fourth Quarter(3)
Fiscal Year Ended December 25, 2010
Net sales ............................... $3,071,970 $2,699,475 $2,899,717 $2,961,932
Gross profit ............................. 913,731 766,688 829,183 847,535
Net earnings (loss) attributable to Office Depot,
Inc., as previously reported ............... 29,468 (9,485) 63,497 (48,588)
Net earnings (loss) attributable to Office Depot,
Inc., restated (4) ......................... (15,934) 41,254 (99,411)
Net earnings (loss) available to common
shareholders, as previously reported ........ 19,993 (18,698) 54,287 (57,803)
Net earnings (loss) available to common
shareholders, restated (4) ................. (25,147) 32,044 (108,626)
Net loss per share*:
Basic, as previously reported (4) ............ $ 0.07 $ (0.07) $ 0.18 $ (0.21)
Basic, restated ......................... $ (0.09) $ 0.12 $ (0.39)
Diluted, as previously reported (4) .......... $ 0.07 $ (0.07) $ 0.18 $ (0.21)
Diluted, restated ....................... $ (0.09) $ 0.12 $ (0.39)
* Due to rounding, the sum of the quarterly earnings per share amounts may not equal the reported earnings
per share for the year.
(1) Net loss for the quarter includes approximately $13 million discrete tax benefits from the release of a
valuation allowance in Europe and a favorable settlement with certain taxing authorities.
(2) Net earnings for the quarter includes approximately $32 million of discrete tax benefits from the settlement
of certain tax positions relating to open years as well as approximately $13 million of related interest
benefits.
(3) Net loss for the quarter includes approximately $12 million related to pre-tax charges for severance and
facility closures, $11 million loss on the sale of operating entities, $51 million from software write off, and
$13 million severance and related costs for departing executive officer.
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