8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): July 24, 2013

INGRAM MICRO INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware	1-12203	62-1644402
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

1600 E. St. Andrew Place

Santa Ana, CA 92705

(Address, including zip code of Registrant’s principal executive offices)

Registrant’s telephone number, including area code: (714) 566-1000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition

On July 24, 2013, Ingram Micro Inc. (the “Company” or “Ingram Micro”) issued a press release reporting financial results for the fiscal second quarter that ended June 29, 2013. The press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

The information included herein and in Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing, nor shall it be deemed to form a part of the Company’s public disclosure in the United States or otherwise.

GAAP to Non-GAAP Reconciliation

The attached press release includes financial results prepared in accordance with generally accepted accounting principles (“GAAP”). In addition to GAAP results, Ingram Micro is reporting non-GAAP adjusted operating income, adjusted operating margin, adjusted net income and adjusted earnings per diluted share. These non-GAAP measures exclude the amortization of intangible assets and items not expected to recur, including charges associated with restructuring, integration and transition costs and other expense reduction programs. Adjusted net income and adjusted earnings per diluted share also exclude the benefit or impact of foreign exchange gains or losses related to the translation effect on Euro-based inventory purchases in Ingram Micro’s pan-European entity and a discrete tax benefit recognized in the first quarter of 2012 associated with the write-off of the historical tax basis of the investment we had maintained in one of our Latin American subsidiary holding companies.

Adjusted operating income, adjusted operating margin, adjusted net income and adjusted earnings per diluted share are primary indicators that Ingram Micro’s management uses internally to conduct and measure its business and evaluate the performance of its consolidated operations and operating segments. Ingram Micro’s management believes these non-GAAP financial measures are useful because they provide meaningful comparisons to prior periods and an alternate view of the impact of acquired businesses. These non-GAAP financial measures are used in addition to and in conjunction with results presented in accordance with GAAP. These non-GAAP financial measures reflect an additional way of viewing aspects of our operations that, when viewed with our GAAP results and the accompanying reconciliations to corresponding GAAP financial measures, provide a more complete understanding of factors and trends affecting Ingram Micro’s business. A material limitation associated with the use of these non-GAAP measures as compared to the GAAP measures is that they may not be comparable to other companies with similar items that present related charges

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differently. In this regard, the non-GAAP measures should be considered as a supplement to, and not as a substitute for or superior to, the corresponding measures calculated in accordance with GAAP and may not be comparable to similarly titled measures used by other companies.

Reconciliations of GAAP to non-GAAP financial measures for the second quarters of 2013 and 2012 and the first six months of 2013 and 2012 appear in the financial statements portion of the attached press release under the heading “Supplementary Information—Income from Operations—Reconciliation of GAAP to Non-GAAP Financial Information” and “Supplementary Information—Reconciliation of GAAP to Non-GAAP Financial Measures.”

Item 9.01 Financial Statements and Exhibits.

Exhibit No.	Description
99.1	Press release dated July 24, 2013

3

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

INGRAM MICRO INC.
By:	/s/ Larry C. Boyd
Name:	Larry C. Boyd
Title:	Executive Vice President, Secretary and General Counsel

Date: July 24, 2013

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EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release dated July 24, 2013

EX-99.1

Exhibit 99.1

For More Information Contact:

Investors: Damon Wright (714) 382-5013 damon.wright@ingrammicro.com Media: Lisa Zwick (949) 230-8794 lisa.zwick@ingrammicro.com

INGRAM MICRO REPORTS SECOND QUARTER FINANCIAL RESULTS

Delivers Year-over-Year and Sequential Increases in Revenue, Gross Margin, EPS

SANTA ANA, Calif., July 24, 2013 — Ingram Micro Inc. (NYSE: IM), the world’s largest wholesale technology distributor and a global leader in supply-chain and mobile device lifecycle services, today announced financial results for the second quarter ended June 29, 2013.

	Second Quarter Ended
	June 29, 2013			June 30, 2012			Change
Net sales ($B)	$	10.3		$	8.8			17	%
Operating margin		1.10	%		1.11	%		(1bp	)
Adjusted operating margin		1.32	%		1.22	%		10bp
Earnings per diluted share*	$	0.45		$	0.40			13	%
Adjusted earnings per diluted share*	$	0.55		$	0.43			28	%

*Earnings per diluted share and adjusted earnings per diluted share for the 2013 and 2012 quarter each benefited by $0.03 related to net discrete tax benefits.

A reconciliation of non-GAAP adjusted financial measures to GAAP financial measures is presented in the Supplementary Information section in this press release.

“I am pleased with our performance in the second quarter, as we executed well against our key objectives for the year, resulting in significant improvements across several important financial metrics,” said Alain Monié, Ingram Micro president and CEO. “We continued to improve in Australia, benefited from accretion to adjusted earnings per diluted share of 10 cents from our new mobility business and saw gross margins expand, due in part to the investments we have made in areas such as advanced solutions, mobility, logistics services and cloud. We also strengthened our balance sheet as we drove strong cash flow from operations. We are managing our growth well and we believe continued execution on our strategic initiatives to increase the ratio of our higher-margin, and better-returns businesses will result in above market growth rates, while also improving profitability and generating better shareholder returns.”

Worldwide sales were $10.3 billion, up 17 percent in U.S. dollars, when compared with $8.8 billion in the second quarter last year. The translation effect of foreign currencies had a de minimis influence on worldwide sales as compared with the prior year. The company’s 2012 fourth quarter acquisitions of Brightpoint, Inc. (also referred to as the mobility business) and Aptec Holdings Ltd. added $1.2 billion and $90 million, respectively, to 2013 second quarter revenue, contributing 15 percentage points to the growth.

Worldwide gross profit was $596 million (5.78 percent of total sales), compared with $453 million (5.16 percent of total sales) in the 2012 second quarter. 2013 second quarter gross margin benefited by 58 basis points from the addition of higher gross margin revenue from the company’s mobility business, driven largely by its services business.

Operating income was $114 million (1.10 percent of total sales), compared with 2012 second quarter operating income of $98 million (1.11 percent of total sales). 2013 second quarter net income was $70 million, or 45 cents per diluted share. This compares with 2012 second quarter net income of $61 million, or 40 cents per diluted share.

Adjusted operating income for the 2013 second quarter was $136 million (1.32 percent of total sales). This compares with adjusted operating income for the 2012 second quarter of $107 million (1.22 percent of total sales). 2013 second quarter adjusted net income was $86 million, or 55 cents per diluted share, compared with adjusted net income of $67 million, or 43 cents per diluted share, in the 2012 second quarter, which included a discrete tax benefit of $4.4 million, or approximately 3 cents per diluted share.

2013 second quarter net income and adjusted net income benefited from $5.8 million of discrete tax benefits, which resulted in an effective tax rate of 25.6 percent, primarily related to a change in estimate of the amount of mobility business acquisition costs deductible for tax purposes. The discrete tax benefits in the quarter benefited earnings per diluted share and adjusted earnings per diluted share by 3 cents.

Adjusted operating income, adjusted operating margin, adjusted net income and adjusted earnings per diluted share are non-GAAP financial measures that are defined in the footnotes to this release and are reconciled to their most directly comparable GAAP measures in the Supplementary Information section of this release.

Further detail can be found in the financial statements and schedules attached to this news release or at www.ingrammicro.com.

Key 2013 second quarter highlights:

• Australia’s revenue grew for the second quarter in a row and the country reduced its operating loss to less than $3 million, a significant improvement from the operating loss of $9 million in last year’s second quarter and the operating loss of more than $5 million in the 2013 first quarter.

• The company’s mobility business was accretive to 2013 second quarter adjusted earnings per diluted share by 10 cents.

• Second quarter cash flow from operations was $510 million, driven by improved profitability and a 4 day sequential improvement in working capital. This resulted in cash flow from operations of $328 million for the six months ended June 29, 2013.

• Working capital days of 24 were within the company’s targeted range of 22 to 26 days. Working capital days improved by 1 day when compared to the 2012 second quarter and improved sequentially by 4 days when compared to the 2013 first quarter.

Outlook

For the 2013 third quarter, the company currently expects to maintain its consolidated gross margin rate, with worldwide revenue expected to be flat to slightly up sequentially, in line with historic seasonality. In addition, 2013 third quarter net income and adjusted net income are expected to benefit from income of approximately $18 million after-tax, or 11 cents per diluted share, related to a settlement from a class action proceeding seeking damages from certain manufacturers of LCD flat panel displays.

Conference Call and Webcast

Additional information about Ingram Micro’s financial results will be presented in a conference call with presentation slides today at 5 p.m. ET. To listen to the conference call webcast and view the accompanying presentation slides, visit the company’s website at www.ingrammicro.com (Investor Relations section). The conference call is also accessible by telephone at (888) 437-9445 (toll-free within the United States and Canada) or (719) 325-2469 (other countries), passcode “5113706.”

The replay of the conference call with presentation slides will be available for one week at www.ingrammicro.com (Investor Relations section) or by calling (888) 203-1112 or (719) 457-0820 outside the United States and Canada, passcode “5113706.”

Footnotes to Press Release

This press release includes financial results prepared in accordance with generally accepted accounting principles (“GAAP”). In addition to GAAP results, Ingram Micro is reporting non-GAAP adjusted operating income, adjusted operating margin, adjusted net income and adjusted earnings per diluted share. These non-GAAP measures exclude the amortization of intangible assets and items not expected to recur, including charges associated with restructuring, integration and transition costs and other expense reduction programs. Adjusted net income and adjusted earnings per diluted share also exclude the benefit or impact of foreign exchange gains or losses related to the translation effect on Euro-based inventory purchases in Ingram Micro’s pan-European entity and a discrete tax benefit recognized in the first quarter of 2012 associated with the write-off of the historical tax basis of the investment we had maintained in one of our Latin American subsidiary holding companies.

Adjusted operating income, adjusted operating margin, adjusted net income and adjusted earnings per diluted share are primary indicators that Ingram Micro’s management uses internally to conduct and measure its business and evaluate the performance of its consolidated operations and operating segments. Ingram Micro’s management believes these non-GAAP financial measures are useful because they provide meaningful comparisons to prior periods and an alternate view of the impact of acquired businesses. These non-GAAP financial measures are used in addition to and in conjunction with results presented in accordance with GAAP. These non-GAAP financial measures reflect an additional way of viewing aspects of our operations that, when viewed with our GAAP results and the accompanying reconciliations to corresponding GAAP financial measures, provide a more complete understanding of factors and trends affecting Ingram Micro’s business. A material limitation associated with the use of these non-GAAP measures as compared to the GAAP measures is that they may not be comparable to other companies with similar items that present related charges differently. In this regard, the non-GAAP measures should be considered as a supplement to, and not as a substitute for or superior to, the corresponding measures calculated in accordance with GAAP and may not be comparable to similarly titled measures used by other companies.

Cautionary Statement for the Purpose of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995

The matters in this press release that are forward-looking statements are based on current management expectations. Certain risks may cause such expectations to not be achieved and, in turn, may have a material adverse effect on Ingram Micro’s business, financial condition and results of operations. Ingram Micro disclaims any duty to update any forward-looking statements. Important risk factors that could cause actual results to differ materially from those discussed in the forward-looking statements include, without limitation: (1) we have made and expect to continue to make investments in new businesses and initiatives, including acquisitions, which could disrupt our business and have an adverse effect on our operating results; (2) we are dependent on a variety of information systems, which, if not properly functioning, or unavailable, or if we experience system security breaches, data protection breaches or other cyber-attacks, could adversely disrupt our business and harm our reputation and earnings; (3) changes in macro-economic conditions may negatively impact a number of risk factors which, individually or in the aggregate, could adversely affect our results of operations, financial condition and cash flows; (4) we continually experience intense competition across all markets for our products and services; (5) we operate a global business that exposes us to risks associated with conducting business in multiple jurisdictions; (6) our failure to adequately adapt to IT industry changes could negatively impact our future operating results; (7) terminations of a supply or services agreement or a significant change in supplier terms or conditions of sale could negatively affect our operating margins, revenue or the level of capital required to fund our operations; (8) substantial defaults by our customers or the loss of significant customers could have a negative impact on our business, results of operations, financial condition or liquidity; (9) changes in, or interpretations of, tax rules and regulations, changes in the mix of our business amongst different tax jurisdictions, and deterioration of the performance of our business may adversely affect our effective income tax rates or operating margins and we may be required to pay additional taxes and/or tax assessments, as well as record valuation allowances relating to our deferred tax assets; (10) changes in our credit rating or other market factors such as adverse capital and credit market conditions or reductions in cash flow from operations may affect our ability to meet liquidity needs, reduce access to capital, and/or increase our costs of borrowing; (11) failure to retain and recruit key personnel would harm our ability to meet key objectives; (12) we cannot predict with certainty what losses we may incur as a result

of litigation matters and contingencies that we may be involved with from time to time; (13) we may incur material litigation, regulatory or operational costs or expenses, and may be frustrated in our marketing efforts, as a result of environmental regulations or private intellectual property enforcement disputes; (14) we face a variety of risks in our reliance on third-party service companies, including shipping companies for the delivery of our products and outsourcing arrangements; (15) changes in accounting rules could adversely affect our future operating results; and (16) our quarterly results have fluctuated significantly. We also face a variety of risks associated with our acquisitions of Brightpoint, Inc., Aptec and Promark, and any other acquisitions we may make, including: management’s ability to execute its plans, strategies and objectives for future operations, including the execution of integration plans; growth of the mobility industry, the government contracts business, and in new and untapped markets in geographies outside the U.S.; and other uncertainties or unknown, underestimated and/or undisclosed commitments or liabilities; and our ability to achieve the expected benefits and manage the costs of the integrations of our acquisitions.

Ingram Micro has instituted in the past and continues to institute changes to its strategies, operations and processes to address these risk factors and seek to mitigate their impact on Ingram Micro’s results of operations and financial condition. However, no assurances can be given that Ingram Micro will be successful in these efforts. For a further discussion of significant factors to consider in connection with forward-looking statements concerning Ingram Micro, reference is made to Item 1A Risk Factors of Ingram Micro’s Annual Report on Form 10-K for the fiscal year ended December 29, 2012; other risks or uncertainties may be detailed from time to time in Ingram Micro’s future SEC filings.

About Ingram Micro Inc.

Ingram Micro is the world’s largest wholesale technology distributor and a global leader in IT supply-chain, mobile device lifecycle services and logistics solutions. As a vital link in the technology value chain, Ingram Micro creates sales and profitability opportunities for vendors and resellers through unique marketing programs, outsourced logistics and mobile solutions, technical support, financial services and product aggregation and distribution. The company is the only global broad-based IT distributor, serving approximately 160 countries on six continents with the world’s most comprehensive portfolio of IT products and services. Visit www.ingrammicro.com.

# # #

^© 2013 Ingram Micro Inc. All rights reserved. Ingram Micro and the registered Ingram Micro logo are trademarks used under license by Ingram Micro Inc.

Ingram Micro Inc.

Consolidated Balance Sheet

(Amounts in 000s)

(Unaudited)

	June 29, 2013		December 29, 2012
ASSETS
Current assets:
Cash and cash equivalents	$	726,892	$	595,147
Trade accounts receivable, net		4,388,926		5,457,299
Inventory		3,698,659		3,591,543
Other current assets		506,448		522,390
Total current assets		9,320,925		10,166,379
Property and equipment, net		474,452		481,324
Goodwill		428,401		428,401
Intangible assets, net		344,940		372,482
Other assets		25,114		31,862
Total assets	$	10,593,832	$	11,480,448
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	5,315,754	$	6,065,159
Accrued expenses		580,772		585,404
Short-term debt and current maturities of long-term debt		84,222		111,268
Total current liabilities		5,980,748		6,761,831
Long-term debt, less current maturities		800,362		943,275
Other liabilities		130,839		164,089
Total liabilities		6,911,949		7,869,195
Stockholders’ equity		3,681,883		3,611,253
Total liabilities and stockholders’ equity	$	10,593,832	$	11,480,448

Page 1

Ingram Micro Inc.

Consolidated Statement of Income

(Amounts in 000s, except per share data)

(Unaudited)

	Thirteen Weeks Ended
	June 29, 2013			June 30, 2012
Net sales	$	10,308,015		$	8,777,895
Cost of sales		9,712,261			8,325,165
Gross profit		595,754			452,730
Operating expenses:
Selling, general and administrative		465,325			351,400
Amortization of intangible assets		11,997			2,706
Reorganization costs		4,636			839
		481,958			354,945
Income from operations		113,796			97,785
Interest and other:
Interest income		(2,026	)		(2,200	)
Interest expense		14,303			11,577
Net foreign currency exchange loss		3,682			1,794
Other		4,211			3,156
		20,170			14,327
Income before income taxes		93,626			83,458
Provision for income taxes		23,940			22,184
Net income	$	69,686		$	61,274
Diluted earnings per share	$	0.45		$	0.40
Diluted weighted average shares outstanding		154,864			154,020

Page 2

Ingram Micro Inc.

Consolidated Statement of Income

(Amounts in 000s, except per share data)

(Unaudited)

	Twenty-six Weeks Ended
	June 29, 2013			June 30, 2012
Net sales	$	20,570,459		$	17,413,276
Cost of sales		19,389,400			16,492,989
Gross profit		1,181,059			920,287
Operating expenses:
Selling, general and administrative		939,403			711,424
Amortization of intangible assets		23,762			5,631
Reorganization costs		13,302			1,396
		976,467			718,451
Income from operations		204,592			201,836
Interest and other:
Interest income		(3,855	)		(5,966	)
Interest expense		29,941			23,306
Net foreign currency exchange loss		1,748			7,360
Other		7,080			5,088
		34,914			29,788
Income before income taxes		169,678			172,048
Provision for income taxes		50,233			20,801
Net income	$	119,445		$	151,247
Diluted earnings per share	$	0.77		$	0.98
Diluted weighted average shares outstanding		154,739			154,435

Page 3

Ingram Micro Inc.

Consolidated Statement of Cash Flows

(Amounts in 000s)

(Unaudited)

	Twenty-six Weeks Ended
	June 29, 2013			June 30, 2012
Cash flows from operating activities:
Net income	$	119,445		$	151,247
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization		62,558			28,232
Impairment of goodwill		—			—
Stock-based compensation expense		13,957			14,575
Excess tax benefit from stock-based compensation		(1,135	)		(5,241	)
Loss on write-off of property and equipment		2,277			—
Gain on sale of land and building		(1,045	)		—
Noncash charges for interest and bond discount amortization		1,131			922
Deferred income taxes		2,429			19,481
Changes in operating assets and liabilities:
Accounts receivable		980,723			750,408
Inventory		(161,272	)		(278,742	)
Other current assets		(20,321	)		(29,241	)
Accounts payable		(650,770	)		(427,441	)
Changes in book overdrafts		(15,552	)		(32,067	)
Accrued expenses		(4,410	)		(107,830	)
Cash provided by operating activities		328,015			84,303
Cash flows from investing activities:
Capital expenditures		(39,457	)		(45,505	)
Sales of marketable trading securities, net		1,042			1,125
Proceeds from sale of land and building		1,169			—
Acquisition earnout payments		(325	)		(338	)
Cash used by investing activities		(37,571	)		(44,718	)
Cash flows from financing activities:
Proceeds from exercise of stock options		15,693			28,632
Repurchase of Class A Common Stock		—			(50,000	)
Excess tax benefit from stock-based compensation		1,135			5,241
Net proceeds from (repayments of) revolving credit facilities		(165,263	)		74,193
Cash provided (used) by financing activities		(148,435	)		58,066
Effect of exchange rate changes on cash and cash equivalents		(10,264	)		(7,810	)
Increase in cash and cash equivalents		131,745			89,841
Cash and cash equivalents, beginning of period		595,147			891,403
Cash and cash equivalents, end of period	$	726,892		$	981,244

Page 4

Ingram Micro Inc.

Supplementary Information

Income from Operations - Reconciliation of GAAP to Non-GAAP Information

(Amounts in 000s)

(Unaudited)

	Thirteen Weeks Ended June 29, 2013
	Net Sales		GAAP Operating Income			Reorganization, Integration and Transition Costs			Amortization  of Intangible Assets			Adjusted Operating Income
North America	$	4,039,064	$	65,885		$	1,362		$	1,786		$	69,033
Europe		2,430,372		12,713			362			493			13,568
Asia-Pacific		2,130,658		19,061			348			209			19,618
Latin America		459,828		9,527			—			220			9,747
BrightPoint		1,248,093		13,151			8,494			9,289			30,934
Stock-based compensation expense		—		(6,541	)		—			—			(6,541	)
Consolidated Total	$	10,308,015	$	113,796		$	10,566		$	11,997		$	136,359
			Thirteen Weeks Ended June 29, 2013
			GAAP Operating Margin			Reorganization, Integration and Transition Costs			Amortization of Intangible Assets			Adjusted Operating Margin
North America				1.63	%		0.03	%		0.04	%		1.71	%
Europe				0.52	%		0.01	%		0.02	%		0.56	%
Asia-Pacific				0.89	%		0.02	%		0.01	%		0.92	%
Latin America				2.07	%		—			0.05	%		2.12	%
BrightPoint				1.05	%		0.68	%		0.74	%		2.48	%
Stock-based compensation expense				—			—			—			—
Consolidated Total				1.10	%		0.10	%		0.12	%		1.32	%
	Thirteen Weeks Ended June 30, 2012
	Net Sales		GAAP Operating Income			Reorganization, Transition and Other Costs			Amortization of Intangible Assets			Adjusted Operating Income
North America	$	3,837,244	$	68,729		$	3,892		$	1,667		$	74,288
Europe		2,460,141		14,913			663			544			16,120
Asia-Pacific		2,038,112		14,835			165			268			15,268
Latin America		442,398		4,437			2,130			227			6,794
Stock-based compensation expense		—		(5,129	)		—			—			(5,129	)
Consolidated Total	$	8,777,895	$	97,785		$	6,850		$	2,706		$	107,341
			Thirteen Weeks Ended June 30, 2012
			GAAP Operating Margin			Reorganization, Transition and Other Costs			Amortization of Intangible Assets			Adjusted Operating Margin
North America				1.79	%		0.10	%		0.04	%		1.94	%
Europe				0.61	%		0.03	%		0.02	%		0.66	%
Asia-Pacific				0.73	%		0.01	%		0.01	%		0.75	%
Latin America				1.00	%		0.48	%		0.05	%		1.54	%
Stock-based compensation expense				—			—			—			—
Consolidated Total				1.11	%		0.08	%		0.03	%		1.22	%

Page 5

Ingram Micro Inc.

Supplementary Information

Income from Operations - Reconciliation of GAAP to Non-GAAP Information

(Amounts in 000s)

(Unaudited)

	Twenty-six Weeks Ended June 29, 2013
	Net Sales		GAAP Operating Income			Reorganization, Integration and Transition Costs			Amortization of Intangible Assets			Adjusted Operating Income
North America	$	7,906,883	$	121,460		$	3,836		$	3,571		$	128,867
Europe		5,099,366		26,657			2,954			991			30,602
Asia-Pacific		4,325,166		32,896			3,643			421			36,960
Latin America		921,786		15,078			—			442			15,520
BrightPoint		2,317,258		22,458			13,377			18,337			54,172
Stock-based compensation expense		—		(13,957	)		—			—			(13,957	)
Consolidated Total	$	20,570,459	$	204,592		$	23,810		$	23,762		$	252,164
			Twenty-six Weeks Ended June 29, 2013
			GAAP Operating Margin			Reorganization, Integration and Transition Costs			Amortization of Intangible Assets			Adjusted Operating Margin
North America				1.54	%		0.05	%		0.05	%		1.63	%
Europe				0.52	%		0.06	%		0.02	%		0.60	%
Asia-Pacific				0.76	%		0.08	%		0.01	%		0.85	%
Latin America				1.64	%		—			0.05	%		1.68	%
BrightPoint				0.97	%		0.58	%		0.79	%		2.34	%
Stock-based compensation expense				—			—			—			—
Consolidated Total				0.99	%		0.12	%		0.12	%		1.23	%
	Twenty-six Weeks Ended June 30, 2012
	Net Sales		GAAP Operating Income			Reorganization, Transition and Other Costs			Amortization  of Intangible Assets			Adjusted Operating Income
North America	$	7,444,191	$	138,377		$	6,424		$	3,357		$	148,158
Europe		5,107,197		36,914			663			1,094			38,671
Asia-Pacific		3,987,864		29,255			466			728			30,449
Latin America		874,024		11,865			2,354			452			14,671
Stock-based compensation expense		—		(14,575	)		—			—			(14,575	)
Consolidated Total	$	17,413,276	$	201,836		$	9,907		$	5,631		$	217,374
			Twenty-six Weeks Ended June 30, 2012
			GAAP Operating Margin			Reorganization, Transition and Other Costs			Amortization of Intangible Assets			Adjusted Operating Margin
North America				1.86	%		0.09	%		0.05	%		1.99	%
Europe				0.72	%		0.01	%		0.02	%		0.76	%
Asia-Pacific				0.73	%		0.01	%		0.02	%		0.76	%
Latin America				1.36	%		0.27	%		0.05	%		1.68	%
Stock-based compensation expense				—			—			—			—
Consolidated Total				1.16	%		0.06	%		0.03	%		1.25	%

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Ingram Micro Inc.

Supplementary Information

Reconciliation of GAAP to Non-GAAP Financial Measures

(Amounts in 000s, except per share data)

(Unaudited)

	Thirteen Weeks Ended June 29, 2013
	As Reported Under GAAP		Reorganization, Transition and Integration Costs		Amortization of Intangible Assets		Pan-Europe Foreign  Exchange Loss			Adjusted Financial Measure
Income before income taxes	$	93,626	$	10,566	$	11,997	$	960		$	117,149
Provision for income taxes		23,940		3,353		3,807		305			31,404
Net income	$	69,686	$	7,213	$	8,190	$	655		$	85,745
Diluted earnings per share (a)	$	0.45	$	0.05	$	0.05	$	0.00		$	0.55
	Thirteen Weeks Ended June 30, 2012
	As Reported Under GAAP		Reorganization, Transition and Other Costs		Amortization of Intangible Assets		Pan-Europe Foreign Exchange Gain			Adjusted Financial Measure
Income before income taxes	$	83,458	$	6,850	$	2,706	$	(1,580	)	$	91,434
Provision for (benefit from) income taxes		22,184		2,180		861		(503	)		24,723
Net income	$	61,274	$	4,670	$	1,845	$	(1,077	)	$	66,711
Diluted earnings per share (a)	$	0.40	$	0.03	$	0.01	$	(0.01	)	$	0.43

(a) Per share impact is calculated by dividing net income amount by the diluted weighted average shares outstanding of 154,864 and 154,020 for the thirteen weeks ended June 29, 2013 and June 30, 2012, respectively.

Page 7

Ingram Micro Inc.

Supplementary Information

Reconciliation of GAAP to Non-GAAP Financial Measures

(Amounts in 000s, except per share data)

(Unaudited)

	Twenty-six Weeks Ended June 29, 2013
	As Reported Under  GAAP		Reorganization, Transition and Integration Costs		Amortization of Intangible Assets		Pan-Europe Foreign  Exchange Gain			Adjusted Financial Measure
Income before income taxes	$	169,678	$	23,810	$	23,762	$	(3,618	)	$	213,632
Provision for (benefit from) income taxes		50,233		7,857		7,841		(1,194	)		64,738
Net income	$	119,445	$	15,953	$	15,921	$	(2,424	)	$	148,894
Diluted earnings per share (a)	$	0.77	$	0.10	$	0.10	$	(0.01	)	$	0.96
	Twenty-six Weeks Ended June 30, 2012
	As Reported Under GAAP		Reorganization, Transition and Other Costs		Amortization of Intangible Assets		Pan-Europe Foreign Exchange Loss			Discrete Tax Items			Adjusted Financial Measure
Income before income taxes	$	172,048	$	9,907	$	5,631	$	3,214		$	—		$	190,800
Provision for (benefit from) income taxes (b)		20,801		3,093		1,758		1,003			28,532			55,187
Net income	$	151,247	$	6,814	$	3,873	$	2,211		$	(28,532	)	$	135,613
Diluted earnings per share (a)	$	0.98	$	0.04	$	0.03	$	0.01		$	(0.18	)	$	0.88

(a) Per share impact is calculated by dividing net income amount by the diluted weighted average shares outstanding of 154,739 and 154,435 for the twenty-six weeks ended June 29, 2013 and June 30, 2012, respectively.

(b) Reflects a net discrete benefit of approximately $28,532 primarily related to the write-off of the historical tax basis of the investment we have maintained in one of our Latin American subsidiary holding companies, realized during the period.

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