Selected Quarterly Financial Results

12 Months Ended

Dec. 31, 2011

Quarterly Financial Data [Abstract]

Selected Quarterly Financial Results

Selected Quarterly Financial Results (unaudited)

(in millions)	2011
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Net Sales Detail:
Corporate:
Medium/Large	$	1,022.9		$	1,075.0		$	1,070.6		$	1,118.6
Small Business	256.4			263.4			259.7			267.8
Total Corporate	1,279.3			1,338.4			1,330.3			1,386.4
Public:
Government	231.9			296.1			388.1			427.4
Education	214.6			343.3			415.7			224.1
Healthcare	277.4			311.8			319.3			307.5
Total Public	723.9			951.2			1,123.1			959.0
Other	126.4			122.5			128.0			133.9
Net sales	$	2,129.6		$	2,412.1		$	2,581.4		$	2,479.3
Gross profit	$	351.5		$	401.8		$	420.8		$	413.3
Income from operations	$	91.7		$	128.2		$	139.7		$	111.1
Net income (loss)	$	(4.2	)	$	(34.8	)	$	37.1		$	19.0
(in millions)	2010
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Net Sales Detail:
Corporate:
Medium/Large	$	893.0		$	964.6		$	973.7		$	1,036.0
Small Business	223.7			228.8			251.0			262.8
Total Corporate	1,116.7			1,193.4			1,224.7			1,298.8
Public:
Government	280.5			343.1			397.1			348.0
Education	227.8			338.1			392.5			242.1
Healthcare	212.0			249.7			262.1			267.5
Total Public	720.3			930.9			1,051.7			857.6
Other	97.1			99.0			98.0			112.9
Net sales	$	1,934.1		$	2,223.3		$	2,374.4		$	2,269.3
Gross profit	$	305.9		$	359.9		$	368.4		$	356.8
Income from operations	$	71.3		$	95.6		$	104.6		$	81.2
Net income (loss)	$	2.2		$	(7.0	)	$	(0.3	)	$	(24.2	)

As discussed in Note 5, the Company has historically entered into agreements with certain financial intermediaries to facilitate the purchase of inventory from various suppliers under certain terms and conditions. The Company has determined that its previous classification of its obligations for inventory financing agreements was in error and that amounts owed under these agreements should be classified separately on the consolidated balance sheets and not included within accounts payable to trade creditors. Accordingly, the Company has changed the classification to reflect $105.7 million and $82.8 million at June 30, 2011 and March 31, 2011, respectively, and $58.8 million, $123.5 million and $103.1 million at September 30, 2010, June 30, 2010 and March 31, 2010, respectively, as accounts payable-inventory financing with no impact on total current liabilities. Beginning September 30, 2011, the inventory financing agreements were classified separately within accounts payable-inventory financing on the consolidated balance sheets.

A summary of the revisions to the consolidated statements of cash flows for the respective interim periods is as follows:

	Nine Months Ended September 30, 2010
(in millions)	As Previously Reported			Revision			As Revised
Net cash provided by operating activities	$	397.6		$	(33.8	)	$	363.8
Net cash used in financing activities	$	(335.8	)	$	33.8		$	(302.0	)
Net decrease in cash and cash equivalents	$	(21.0	)	$	—		$	(21.0	)

	Six Months Ended June 30, 2011
(in millions)	As Previously Reported			Revision			As Revised
Net cash provided by operating activities	$	207.4		$	(77.6	)	$	129.8
Net cash used in financing activities	$	(173.3	)	$	77.6		$	(95.7	)
Net increase in cash and cash equivalents	$	8.0		$	—		$	8.0

	Six Months Ended June 30, 2010
(in millions)	As Previously Reported			Revision			As Revised
Net cash provided by operating activities	$	260.3		$	(98.5	)	$	161.8
Net cash used in financing activities	$	(266.2	)	$	98.5		$	(167.7	)
Net decrease in cash and cash equivalents	$	(61.9	)	$	—		$	(61.9	)

	Three Months Ended March 31, 2011
(in millions)	As Previously Reported			Revision			As Revised
Net cash provided by operating activities	$	196.3		$	(54.7	)	$	141.6
Net cash used in financing activities	$	(143.5	)	$	54.7		$	(88.8	)
Net increase in cash and cash equivalents	$	37.1		$	—		$	37.1

	Three Months Ended March 31, 2010
(in millions)	As Previously Reported			Revision			As Revised
Net cash provided by operating activities	$	313.3		$	(78.1	)	$	235.2
Net cash used in financing activities	$	(309.5	)	$	78.1		$	(231.4	)
Net decrease in cash and cash equivalents	$	(20.3	)	$	—		$	(20.3	)