QUARTERLY FINANCIAL DATA

12 Months Ended

Dec. 29, 2012

QUARTERLY FINANCIAL DATA

NOTE R – QUARTERLY FINANCIAL DATA (UNAUDITED)

(In thousands, except per share amounts)	First Quarter(1)		Second Quarter(2)			Third Quarter(3)			Fourth Quarter(4)
Fiscal Year Ended December 29, 2012
Net sales	$	2,872,809	$	2,507,150		$	2,692,933		$	2,622,760
Gross profit		694,403		572,196			662,672			606,767
Net earnings (loss)		49,499		(57,387	)		(61,925	)		(7,307	)
Net earnings (loss) attributable to Office Depot, Inc.		49,503		(57,382	)		(61,916	)		(7,316	)
Net earnings (loss) available to common stockholders		41,287		(64,281	)		(69,566	)		(17,485	)
Net earnings (loss) per share*:
Basic	$	0.14	$	(0.23	)	$	(0.25	)	$	(0.06	)
Diluted	$	0.14	$	(0.23	)	$	(0.25	)	$	(0.06	)

* Due to rounding, the sum of the quarterly earnings per share amounts may not equal the reported earnings per share for the year.

⁽¹⁾  Net earnings include approximately $68 million of recovery of purchase price income from previous acquisition associated with pension plan and approximately $12 million loss on extinguishment of debt.

⁽²⁾  Net earnings include approximately $24 million North American Retail Division fixed asset impairment.

⁽³⁾  Net earnings include approximately $88 million North American Retail and International Division asset impairments.

⁽⁴⁾  Net earnings include approximately $9 million North American Retail Division fixed asset impairment.

(In thousands, except per share amounts)	First Quarter			Second Quarter			Third Quarter(1)		Fourth Quarter(2)
Fiscal Year Ended December 31, 2011
Net sales	$	2,972,960		$	2,710,141		$	2,836,737	$	2,969,695
Gross profit		696,907			615,065			678,021		715,135
Net earnings (loss)		(5,390	)		(20,116	)		100,849		20,348
Net earnings (loss) attributable to Office Depot, Inc.		(5,414	)		(20,114	)		100,872		20,350
Net earnings (loss) available to common stockholders		(14,627	)		(29,327	)		91,659		12,284
Net earnings (loss) per share*:
Basic	$	(0.05	)	$	(0.11	)	$	0.29	$	0.04
Diluted	$	(0.05	)	$	(0.11	)	$	0.28	$	0.04

* Due to rounding, the sum of the quarterly earnings per share amounts may not equal the reported earnings per share for the year.

⁽¹⁾  Net earnings include approximately $99 million of tax and related interest benefits from the reversal of uncertain tax positions.

⁽²⁾  Fiscal year 2011 includes 53 weeks in accordance with the Company’s 52- week, 53-week retail calendar; accordingly, the fourth quarter includes 14 weeks. Additionally, the fourth quarter includes approximately $24 million of benefits from the reversal of uncertain tax positions and valuation allowances.