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Table of Contents
TECH DATA CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME
(In thousands, except per share amounts)
The accompanying Notes to Consolidated Financial Statements are an integral part of these financial statements.
40
Year ended January 31,
2013
2012
2011
(As restated) (1)
(As restated) (1)
Net sales
$
25,358,329
$
25,647,313
$
23,619,938
Cost of products sold
24,055,275
24,269,872
22,341,685
Gross profit
1,303,054
1,377,441
1,278,253
Operating expenses:
Selling, general and administrative expenses
1,009,872
1,044,601
956,845
Loss on disposal of subsidiaries (Note 7)
0
28,294
0
Value added tax assessment (Note 14)
29,462
0
0
1,039,334
1,072,895
956,845
Operating income
263,720
304,546
321,408
Interest expense
30,126
31,377
29,926
Other expense (income), net
4,128
858
(4,350
)
Income before income taxes
229,466
272,311
295,832
Provision for income taxes
46,426
71,109
82,840
Consolidated net income
183,040
201,202
212,992
Net income attributable to noncontrolling interest
(6,785
)
(10,452
)
(4,620
)
Net income attributable to shareholders of Tech Data Corporation
$
176,255
$
190,750
$
208,372
Net income per share attributable to shareholders of Tech Data Corporation
Basic
$
4.53
$
4.36
$
4.29
Diluted
$
4.50
$
4.30
$
4.25
Weighted average common shares outstanding:
Basic
38,871
43,749
48,587
Diluted
39,180
44,327
49,085
(1) See Note 2 -
Restatement of Consolidated Financial Statements.