EARNINGS PER SHARE

3 Months Ended

Mar. 28, 2015

EARNINGS PER SHARE

NOTE 8. EARNINGS PER SHARE

The following table represents the calculation of net earnings (loss) per common share (“EPS”):

	First Quarter
(In millions, except per share amounts)	2015		2014
Basic Earnings (Loss) Per Share
Numerator:
Net income (loss) attributable to Office Depot, Inc.	$	45	$	(109	)
Denominator:
Weighted-average shares outstanding		544		530
Basic earnings (loss) per share	$	0.08	$	(0.21	)
Diluted Earnings (Loss) Per Share
Numerator:
Net income (loss) attributable to Office Depot, Inc.	$	45	$	(109	)
Denominator:
Weighted-average shares outstanding		544		530
Effect of dilutive securities:
Stock options and restricted stock		9		—
Diluted weighted-average shares outstanding		553		530
Diluted earnings (loss) per share	$	0.08	$	(0.21	)

Potentially dilutive stock options and restricted stock of 9 million shares were excluded from the first quarter 2014 diluted loss per share calculation, because of the net loss in the period.

Awards of options and nonvested shares representing approximately 2 million additional shares of common stock were outstanding for the first quarter 2015 and 12 million for the first quarter 2014, but were not included in the computation of diluted weighted-average shares outstanding because their effect would have been antidilutive. For the periods presented, no tax benefits have been assumed in the weighted average share calculation in jurisdictions with valuation allowances.