AVNET, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS See notes to consolidated financial statements. 40 Years Ended June 27, June 29, June 30, 2020 2019 2018 (Thousands, except per share amounts) Sales $ 17,634,333 $ 19,518,592 $ 19,036,892 Cost of sales 15,570,877 17,032,490 16,509,708 Gross profit 2,063,456 2,486,102 2,527,184 Selling, general and administrative expenses 1,842,122 1,874,651 1,991,401 Goodwill and intangible asset impairment expenses 144,092 137,396 181,440 Restructuring, integration and other expenses 81,870 108,144 145,125 Operating (loss) income (4,628) 365,911 209,218 Other (expense) income, net (737) 11,231 28,606 Interest and other financing expenses, net (122,742) (134,874) (92,747) Income (loss) from continuing operations before taxes (128,107) 242,268 145,077 Income tax (benefit) expense (98,574) 62,157 287,966 Income (loss) from continuing operations, net of tax (29,533) 180,111 (142,889) Loss from discontinued operations, net of tax (1,548) (3,774) (13,535) Net (loss) income $ (31,081) $ 176,337 $ (156,424) Earnings (loss) per share - basic: Continuing operations $ (0.29) $ 1.64 $ (1.19) Discontinued operations (0.02) (0.03) (0.11) Net (loss) income per share basic $ (0.31) $ 1.61 $ (1.30) Earnings (loss) per share - diluted: Continuing operations $ (0.29) $ 1.63 $ (1.19) Discontinued operations (0.02) (0.04) (0.11) Net (loss) income per share diluted $ (0.31) $ 1.59 $ (1.30) Shares used to compute earnings per share: Basic 100,474 109,820 119,909 Diluted 100,474 110,798 119,909 Cash dividends paid per common share $ 0.84 $ 0.80 $ 0.74