Office Depot 2011 Annual Report Download - page 118

OFFICE DEPOT, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
2011 2010 2009
Sales .................................................. $11,489,533 $11,633,094 $12,144,467
Cost of goods sold and occupancy costs ....................... 8,063,087 8,275,957 8,752,283
Gross profit ........................................... 3,426,446 3,357,137 3,392,184
Store and warehouse operating and selling expenses ............. 2,704,073 2,684,301 2,907,900
Other asset impairments ................................... —51,295 26,175
General and administrative expenses ......................... 688,619 658,832 723,114
Operating income (loss) ................................. 33,754 (37,291) (265,005)
Other income (expense):
Interest income ........................................ 1,231 4,663 2,396
Interest expense ........................................ (33,223) (58,498) (65,628)
Miscellaneous income, net ............................... 30,857 34,451 17,085
Income (loss) before income taxes ........................... 32,619 (56,675) (311,152)
Income tax expense (benefit) ............................... (63,072) (10,470) 287,572
Net earnings (loss) ........................................ 95,691 (46,205) (598,724)
Less: Net loss attributable to the noncontrolling interest .......... (3) (1,582) (2,259)
Net earnings (loss) attributable to Office Depot, Inc. ............. 95,694 (44,623) (596,465)
Preferred stock dividends .................................. 35,705 37,113 30,506
Net earnings (loss) attributable to common shareholders .......... $ 59,989 $ (81,736) $ (626,971)
Net earnings (loss) per share:
Basic .............................................. $ 0.22 $ (0.30) $ (2.30)
Diluted ............................................. 0.22 (0.30) (2.30)
The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.
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