Financial Highlights
(In thousands except per share data)
| For the year ended | 2006 (a) | 2005 (b) | 2004 (c) |
| Sales | $13,577,112 | $11,164,196 | $10,646,113 |
| Operating income | 606,225 | 480,258 | 439,338 |
| Net income | 388,331 | 253,609 | 207,504 |
| Net income per share: | |||
| Basic | 3.19 | 2.15 | 1.83 |
| Diluted | 3.16 | 2.09 | 1.75 |
| At year-end | |||
| Total assets | $6,669,572 | $6,044,917 | $5,509,101 |
| Shareholders’ equity | 2,996,559 | 2,372,886 | 2,194,186 |
| Common shares outstanding | 122,245 | 119,803 | 115,938 |
| (a) | Operating income and net income include restructuring charges of $11.8 million ($9.0 million net of related taxes or $.07 per share on both a basic and diluted basis), a charge related to a pre-acquisition warranty claim of $2.8 million ($1.9 million net of related taxes or $.02 per share on both a basic and diluted basis), a charge related to pre-acquisition environmental matters arising out of the company’s purchase of Wyle of $1.4 million ($.9 million net of related taxes or $.01 per share on both a basic and diluted basis) and stock option expense of $13.0 million ($8.5 million net of related taxes or $.07 per share on both a basic and diluted basis) resulting from the company’s adoption of Financial Accounting Standards Board Statement No. 123 (revised 2004), “Share-Based Payment,” and the Securities and Exchange Commission Staff Accounting Bulletin No. 107. Net income also includes a loss on prepayment of debt of $2.6 million ($1.6 million net of related taxes or $.01 per share on both a basic and diluted basis) and the reduction of the provision for income taxes of $46.2 million ($.38 per share on both a basic and diluted basis) and the reduction of interest expense of $6.9 million ($4.2 million net of related taxes or $.03 per share on both a basic and diluted basis) related to the settlement of certain tax matters. |
| (b) | Operating income and net income include restructuring charges of $12.7 million ($7.3 million net of related taxes or $.06 and $.05 per share on a basic and diluted basis, respectively) and an acquisition indemnification credit of $1.7 million ($1.3 million net of related taxes or $.01 per share on a basic basis). Net income also includes a loss on prepayment of debt of $4.3 million ($2.6 million net of related taxes or $.02 and $.01 per share on a basic and diluted basis, respectively) and a loss of $3.0 million ($.03 per share on both a basic and diluted basis) on the write-down of an investment. |
| (c) | Operating income and net income include restructuring charges of $11.4 million ($6.9 million net of related taxes or $.07 and $.06 per share on a basic and diluted basis, respectively), an acquisition indemnification credit, due to a change in estimate, of $9.7 million ($.09 and $.08 per share on a basic and diluted basis, respectively), an impairment charge of $10.0 million ($.09 and $.08 per share on a basic and diluted basis, respectively) and an integration credit, due to a change in estimate, of $2.3 million ($1.4 million net of related taxes or $.01 per share on both a basic and diluted basis). Net income also includes a loss on prepayment of debt of $33.9 million ($20.3 million net of related taxes or $.18 and $.16 per share on a basic and diluted basis, respectively) and a loss of $1.3 million ($.01 per share on both a basic and diluted basis) on the write-down of an investment. |