Quarterly Financial Data

12 Months Ended

Dec. 28, 2013

NOTE 20. QUARTERLY FINANCIAL DATA (UNAUDITED)

(In millions, except per share amounts)	First Quarter			Second Quarter			Third Quarter⁽²⁾		Fourth Quarter⁽³⁾
Fiscal Year Ended December 28, 2013
Net sales	$	2,718		$	2,419		$	2,619	$	3,486
Gross profit		660			546			633		787
Net income (loss)⁽¹⁾		(7	)		(54	)		161		(121	)
Net income (loss) attributable to Office Depot, Inc.⁽¹⁾		(7	)		(54	)		161		(121	)
Net income (loss) available to common stockholders⁽¹⁾		(17	)		(64	)		133		(144	)
Net earnings (loss) per share*:
Basic	$	(0.06	)	$	(0.23	)	$	0.42	$	(0.34	)
Diluted	$	(0.06	)	$	(0.23	)	$	0.41	$	(0.34	)

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

⁽¹⁾

In the first, second, third and fourth quarters of 2013, captions include pre-tax Merger, restructuring, and other operating expenses amounting to $19 million, $26 million, $44 million and $111 million, respectively and asset impairments of $5 million, $4 million, $49 million and $12 million, respectively.

⁽²⁾	Net income available to common stockholders includes an after-tax gain of approximately $235 million resulting from the sale of Office Depot de Mexico and preferred stock dividends of $22 million associated to redemption in July 2013.

⁽³⁾	Net income available to common stockholders includes (i) impact of the Merger of $939 million in Sales and $(39) million in Net income (loss); and (ii) preferred stock dividends of $23 million associated to redemption in November 2013.


(In millions, except per share amounts)	First Quarter⁽¹⁾		Second Quarter⁽²⁾			Third Quarter⁽³⁾			Fourth Quarter⁽⁴⁾
Fiscal Year Ended December 29, 2012
Net sales	$	2,873	$	2,507		$	2,693		$	2,623
Gross profit		694		572			663			607
Net income (loss)		49		(57	)		(62	)		(7	)
Net income (loss) attributable to Office Depot, Inc.		49		(57	)		(62	)		(7	)
Net income (loss) available to common stockholders		41		(64	)		(70	)		(17	)
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 income includes approximately $68 million of pre-tax recovery of purchase price income from previous acquisition associated with pension plan and approximately $12 million pre-tax loss on extinguishment of debt.

⁽²⁾	Net income includes approximately $24 million pre-tax fixed asset impairment.

⁽³⁾	Net income includes approximately $88 million pre-tax asset impairments.

⁽⁴⁾	Net income includes approximately $9 million pre-tax fixed asset impairment.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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