EARNINGS PER SHARE

9 Months Ended

Sep. 26, 2015

EARNINGS PER SHARE

NOTE 8. EARNINGS PER SHARE

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

	Third Quarter				Year-to-Date
(In millions, except per share amounts)	2015		2014		2015			2014
Basic Earnings Per Share
Numerator:
Net income (loss) attributable to Office Depot, Inc.	$	6	$	29	$	(7	)	$	(270	)
Denominator:
Weighted-average shares outstanding		548		536		546			534
Basic earnings (loss) per share	$	0.01	$	0.05	$	(0.01	)	$	(0.51	)
Diluted Earnings Per Share
Numerator:
Net income (loss) attributable to Office Depot, Inc.	$	6	$	29	$	(7	)	$	(270	)
Denominator:
Weighted-average shares outstanding		548		536		546			534
Effect of dilutive securities:
Stock options and restricted stock		8		9		—			—
Diluted weighted-average shares outstanding		556		545		546			534
Diluted earnings (loss) per share	$	0.01	$	0.05	$	(0.01	)	$	(0.51	)

Potentially dilutive stock options and restricted stock representing 9 million and 8 million shares for the year-to-date 2015 and 2014, respectively, were excluded from the diluted loss per share calculation because of the net loss in the periods.

Awards of options and nonvested shares representing 3 million and less than 1 million additional shares of common stock were outstanding for the third quarter and year-to-date 2015, respectively, and 9 million and 10 million for the third quarter and year-to-date 2014, respectively, 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.