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EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2016
EARNINGS PER SHARE

NOTE 13. EARNINGS PER SHARE

The following table presents the calculation of net earnings (loss) per common share — basic and diluted:

 

(In millions, except per share amounts)    2016     2015     2014  

Basic Earnings Per Share

       

Numerator:

       

Net income (loss) from continuing operations

    $ 679     $ 92     $ (293 ) 

Loss from discontinued operations, net of tax

      (150 )      (84 )      (59 ) 

Less: Results attributable to the noncontrolling interests

      —       —       2  
  

 

 

  

Net income (loss) to Office Depot, Inc.

    $ 529     $ 8     $ (354 ) 
  

 

 

  

Denominator:

       

Weighted-average shares outstanding

      539       547       535  

Basic earnings (loss) per share:

       

Continuing operations

    $ 1.26     $ 0.17     $ (0.55 ) 

Discontinued operations

      (0.28 )      (0.15 )      (0.11 ) 
  

 

 

  

Net earnings (loss)

    $ 0.98     $ 0.01     $ (0.66 ) 
  

 

 

  

Diluted Earnings Per Share

       

Numerator:

       

Net income (loss) from continuing operations

    $ 679     $ 92     $ (293 ) 

Loss from discontinued operations, net of tax

      (150 )      (84 )      (59 ) 

Less: Results attributable to the noncontrolling interests

      —       —       2  
  

 

 

  

Net income (loss) to Office Depot, Inc.

    $ 529     $ 8     $ (354 ) 
  

 

 

  

Denominator:

       

Weighted-average shares outstanding

      539       547       535  

Effect of dilutive securities:

       

Stock options and restricted stock

      10       8       —  
  

 

 

  

Diluted weighted-average shares outstanding

      549       555       535  

Diluted earnings (loss) per share

       

Continuing operations

    $ 1.24     $ 0.16     $ (0.55 ) 

Discontinued operations

      (0.27 )      (0.15 )      (0.11 ) 
  

 

 

  

Net earnings (loss)

    $ 0.96     $ 0.01     $ (0.66 ) 
  

 

 

  

Potentially dilutive stock options and restricted stock of 8 million shares were excluded from the diluted loss per share calculation in 2014 because of the net loss in the periods.

Awards of options and nonvested shares representing an additional 6 million, 4 million and 9 million shares of common stock were outstanding for the years ended December 31, 2016, December 26, 2015 and December 27, 2014, respectively, but were not included in the computation of diluted weighted-average shares outstanding because their effect would have been antidilutive.