Tech Data 2015 Annual Report Download - page 54

Download and view the complete annual report

Please find page 54 of the 2015 Tech Data annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 112

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112

Table of Contents
NOTE 2 — EARNINGS PER SHARE (“EPS”)
The Company reports a dual presentation of basic and diluted EPS. Basic EPS is computed by dividing net income attributable to shareholders
of Tech Data by the weighted average number of shares outstanding during the reported period. Diluted EPS reflects the potential dilution
related to equity-based incentives (further discussed in Note 9 - Employee Benefit Plans) using the treasury stock method. The composition of
basic and diluted EPS is as follows:
For the fiscal years ended January 31, 2015, 2014 and 2013, there were zero , 6,236 and 9,456 shares, respectively, excluded from the
computation of diluted earnings per share because their effect would have been antidilutive.
NOTE 3 — PROPERTY AND EQUIPMENT, NET
The Company's property and equipment consists of the following:
Depreciation expense included in income from operations for the fiscal years ended January 31, 2015, 2014 and 2013 totaled $19.2 million ,
$20.2 million and $20.5 million , respectively.
46
Year ended January 31,
2015
2014
2013
(In thousands, except per share data)
Net income attributable to shareholders of Tech Data Corporation
$
175,172
$
179,932
$
176,255
Weighted average common shares - basic
38,172
38,020
38,871
Effect of dilutive securities:
Equity-based awards
182
208
309
Weighted average common shares - diluted
38,354
38,228
39,180
Net income per share attributable to shareholders of Tech Data Corporation
Basic
$
4.59
$
4.73
$
4.53
Diluted
$
4.57
$
4.71
$
4.50
January 31,
2015
2014
(In thousands)
Land
4,126
$
5,778
Buildings and leasehold improvements
71,808
84,362
Furniture, fixtures and equipment
295,247
323,266
Property and equipment
371,181
413,406
Less: accumulated depreciation
(308,077
)
(335,775
)
Property and equipment, net
63,104
$
77,631