Jabil Circuits Inc.

AUGUST 31ST

ASSETS

2011

2010

Current assets:
$ 888,611 $ 744,329
Cash and cash equivalents
Trade accounts receivable, net of
allowance for doubtful accounts of $4,788
at August 31, 2011 and $13,939 at
1,100,926 1,408,319
August 31, 2010
2,227,339 2,094,135
Inventories
Prepaid expenses and other current assets

144,282

-307,393
133,204

868,892
33,855
15,737

349,165
35,560
22,510

519,727
-1,705
-6,773

5,135,360

4,654,018

481,342

1,641,335
36,199

1,451,392
28,455

189,943
7,744

89,106
74,989
80,951

104,113
55,101
74,668

-15,007
19,888
6,283

$ 7,057,940 $ 6,367,747

690,193

-93,406
143,449

Income taxes receivable

Deferred income taxes
Total current assets
Property, plant and equipment, net of
accumulated depreciation of $1,363,481 at
August 31, 2011 and $1,166,807 at August 31,
2010
Goodwill
Intangible assets, net of accumulated
amortization of $128,467 at August 31, 2011
and $112,687 at August 31, 2010
Deferred income taxes
Other assets
Total assets

Increase/Decrease

LIABILITIES AND EQUITY

Current liabilities:
Current installments of notes payable and
long-term debt
Accounts payable
Accrued compensation and employee
benefits
Other accrued expenses
Income taxes payable
Deferred income taxes
Total current liabilities
Notes payable and long-term debt, less current
installments
Other liabilities
Income tax liability
Deferred income taxes
Total liabilities

74,160 $ 167,566
2,885,168 2,741,719
258,947
633,444
32,987
5,182

196,865
475,387
19,236
4,401

62,082
158,057
13,751
781

3,889,888

3,605,174

284,714

1,112,594
67,423
88,451
15,761

1,018,930
63,058
86,351
1,462

93,664
4,365
2,100
14,299

5,174,117

4,774,975

399,142

Commitments and contingencies

Equity:
Jabil Circuit, Inc. stockholders equity:
Preferred stock, $0.001 par value,
authorized 10,000,000 shares; no shares
issued and outstanding
Common stock, $0.001 par value, authorized
500,000,000 shares; 224,653,990 and
219,532,908 shares issued and 203,416,503 and
210,496,989 shares outstanding at August 31,
2011 and 2010, respectively

225
1,649,431
441,793

220
1,541,507
123,303

107,924
318,490

Accumulated other comprehensive income

194,706

122,062

72,644

Treasury stock at cost, 21,237,487 shares

at August 31, 2011 and 9,035,919 shares at
August 31, 2010

(419,035

(209,046

1,867,120
16,703

1,578,046
14,726

289,074
1,977

1,883,823

1,592,772

291,051

$ 7,057,940 $ 6,367,747

690,193

Additional paid-in capital

Retained earnings

Total Jabil Circuit, Inc. stockholders

equity
Noncontrolling interests
Total equity
Total liabilities and equity

Percentage Change
16%

-28%
6%
60%
-5%
-43%
9%

12%
21%
-17%
27%
8%
10%

-126%
5%
24%
25%
42%
15%
7%
8%
6%
2%
91%
8%

7%
72%
37%

15%
12%
15%
10%

Jabil Circuits Inc

Consolidated Statement of Operations
August 31st
2011

16,518,827 $
15,264,257

13,409,411
12,405,267

1,254,570

1,004,144

590,572
25,034
22,051

589,738
28,085
25,934

628

8,217

13,607
23,944

24,604

Operating income (loss)

Other expense
Interest income
Interest expense

578,734
2,986
(3,132
97,693

327,566
4,087
(2,956
79,168

Income (loss) before income tax

Income tax expense

481,187
98,229

247,267
76,501

Net income (loss)

Net income (loss) attributable to
noncontrolling interests, net of income tax
expense

382,958

170,766

1,895

1,926

Net revenue
Cost of revenue

2010

Gross profit
Operating expenses:
Selling, general and administrative
Research and development
Amortization of intangibles
Restructuring and impairment charges
Goodwill impairment charges
Settlement of receivables and related
charges
Loss on disposal of subsidiaries

Net income (loss) attributable to Jabil

Circuit, Inc.

381,063 $

168,840

Earnings (Loss) Per Share:

Income (loss) attributable to the
stockholders of Jabil Circuit, Inc.:
Basic

1.78 $

0.79

1.73 $

0.78

Diluted

Weighted average shares outstanding:

Basic

214,502

214,332

Diluted

220,719

217,597

Cash dividends declared per common

share
Net income (loss)
Other comprehensive income (loss):
Foreign currency translation
adjustment
Changes in fair value of derivative
instruments, net of tax
Actuarial gains (loss), net of tax
Prior service cost, net of tax
Adjustment for net losses (gains)
realized and included in net income
(loss) related to derivative
instruments, net of tax
Comprehensive income (loss)

$
$

Comprehensive income (loss) attributable

to noncontrolling interests
Comprehensive income (loss) attributable
to Jabil Circuit, Inc

0.28 $
382,958 $

0.28
170,766

60,026

(70,293

4,260
7,709
(5

(1,742
(7,751
342

654

4,534

455,602 $

95,856

1,895

1,926

453,707 $

93,930

31st
Increase/Decrease

Percentage Change

3,109,416
2,858,990

19%
19%

250,426

20%

834
-3,051
-3,883

0%
-12%
-18%

-7,589

-1208%

-660

-3%

251,168
-1,101

43%
-37%

18,525

19%

233,920
21,728

49%
22%

212,192

55%

-31

-2%

212,223

56%

56%

55%

170

0%

3,122

1%

0
212,192

0%
55%

-3,880

-593%

359,746

79%

-31

-2%

359,777

79%

Jabil Circuits Inc

Consolidated Statement of Cashflows
August 31st
2011

Cash flows from operating activities:

Net income (loss)

382,958 $

170,766

212,192

319,179

283,284

35,895

76,230
23,944
12,673
9,910
0
2,266
628
0

104,609
18,671
0
9,488
0
2,331
8,217
0

-28,379
5,273
12,673
422
0
-65
-7,589
0

48,232
-158,545
-212,265
3,205
305,814
13,780

-247,133
-969,348
-143,639
448
1,172,770
16,946

295,365
810,803
-68,626
2,757
-866,956
-3,166

Net cash provided by operating activities

828,009

427,410

400,599

Cash flows from investing activities:

Acquisition of property, plant and equipment

-458,989

-398,425

-60,564

23,483

10,280

13,203

5,800

5,800

3,985

3,985

-557
0

0
-24,972

-557
24,972

-27,140

27,140

-426,278

-440,257

13,979

-7,586,754

-5,423,914

-2,162,840

Adjustments to reconcile net income (loss) to net

cash provided by operating activities:
Depreciation and amortization
Recognition of stock-based compensation
expense
Loss on disposal of subsidiaries
Settlement of receivables and related charges
Other, net
Loss on early extinguishment of debt
Deferred income taxes
Restructuring and impairment charges
Goodwill impairment charges
Change in operating assets and liabilities, exclusive
of net assets acquired:
Trade accounts receivable
Inventories
Prepaid expenses and other current assets
Other assets
Accounts payable and accrued expenses
Income taxes payable

Proceeds from sale of property, plant and equipment

Proceeds from disposal of available for sale
investments
Cash paid for business and intangible asset
acquisitions, net of cash acquired
Cost of receivables acquired, net of cash collections
Notes receivable from sale
Proceeds from disposal of subsidiaries, net of cash

Net cash used in investing activities

Cash flows from financing activities:
Payments toward debt agreements

Increase/Decrease

2010

7,572,157
-200,226
-60,411

5,374,479
0
-59,869

2,197,678
-200,226
-542

31,644
-14,549

10,744
0

20,900
-14,549

-9,763

-5,505

-4,258

180
0

132
0

48
0

0
0

586
3,067

-586
-3,067

-267,722

-100,280

-167,442

10,273

-18,816

29,089

Net increase (decrease) in cash and cash equivalents

144,282

-131,943

276,225

Cash and cash equivalents at beginning of fiscal year

876,272
744,329

-131,943
144,282

Borrowings under debt agreements

Payments to acquire treasury stock
Dividends paid to stockholders
Net proceeds from exercise of stock options and
issuance of common stock under employee stock
purchase plan
Debt issuance costs
Treasury stock minimum tax withholding related to
vesting of restricted stock
Excess tax benefit (shortfall) of options exercised
Financing related costs
Net proceeds from issuance of ordinary shares of
certain subsidiaries
Bank overdraft of subsidiary
Net cash used in financing activities
Effect of exchange rate changes on cash and cash
equivalents

Cash and cash equivalents at end of fiscal year

744,329
888,611 $

Supplemental disclosure information:

Interest paid, net of capitalized interest

84,956 $

73,423

11,533

81,228 $

57,656

23,572

Income taxes paid, net of refunds received

Percentage Change

55%

11%
-37%
22%
100%
4%
#DIV/0!
-3%
-1208%
#DIV/0!

612%
-511%
32%
86%
-283%
-23%

48%

13%
56%
100%
100%
100%
#DIV/0!
#DIV/0!

-3%

29%

29%
100%
1%

66%
100%
44%
27%
#DIV/0!
#DIV/0!
#DIV/0!

63%

283%

191%
-18%
16%

14%

29%