XML 46 R30.htm IDEA: XBRL DOCUMENT v3.22.4
SEGMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Summary of Sales, Operating Income (Loss) and Other Significant Balances by Each of the Divisions, Reconciled to Consolidated Totals

The following is a summary of sales and operating income (loss) by each of the Divisions, reconciled to consolidated totals:

 

(In millions)

 

ODP Business Solutions Division

 

 

Office Depot Division

 

 

Veyer Division

 

 

Varis Division

 

 

Eliminations

 

 

Total

 

2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales (external)

 

$

4,005

 

 

$

4,451

 

 

$

28

 

 

$

7

 

 

$

-

 

 

$

8,491

 

Sales (internal)

 

 

19

 

 

 

36

 

 

 

5,855

 

 

 

-

 

 

 

(5,910

)

 

 

—

 

Total sales

 

$

4,024

 

 

$

4,487

 

 

$

5,883

 

 

$

7

 

 

$

(5,910

)

 

$

8,491

 

Division operating income (loss)

 

$

140

 

 

$

285

 

 

$

28

 

 

$

(66

)

 

$

-

 

 

$

387

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales (external)

 

$

3,602

 

 

$

4,830

 

 

$

28

 

 

$

5

 

 

$

-

 

 

$

8,465

 

Sales (internal)

 

 

24

 

 

 

34

 

 

 

5,963

 

 

 

-

 

 

 

(6,021

)

 

 

-

 

Total sales

 

$

3,626

 

 

$

4,864

 

 

$

5,991

 

 

$

5

 

 

$

(6,021

)

 

$

8,465

 

Division operating income (loss)

 

$

72

 

 

$

325

 

 

$

30

 

 

$

(34

)

 

$

-

 

 

$

393

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales (external)

 

$

3,549

 

 

$

5,300

 

 

$

23

 

 

$

-

 

 

$

-

 

 

$

8,872

 

Sales (internal)

 

 

29

 

 

 

35

 

 

 

6,321

 

 

 

-

 

 

 

(6,385

)

 

 

-

 

Total sales

 

$

3,578

 

 

$

5,335

 

 

$

6,344

 

 

$

-

 

 

$

(6,385

)

 

$

8,872

 

Division operating income (loss)

 

$

51

 

 

$

317

 

 

$

28

 

 

$

-

 

 

$

-

 

 

$

396

 

The following table provides information about other significant balances by each of the Divisions, reconciled to consolidated totals:

 

(In millions)

 

ODP Business Solutions Division

 

 

Office Depot Division

 

 

Veyer Division

 

 

Varis Division

 

 

Corporate and

Discontinued

Operations*

 

 

Consolidated Total

 

2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

$

5

 

 

$

14

 

 

$

20

 

 

$

44

 

 

$

16

 

 

$

99

 

Depreciation and amortization

 

 

21

 

 

 

56

 

 

 

37

 

 

 

13

 

 

 

4

 

 

 

131

 

Assets

 

 

749

 

 

 

1,553

 

 

 

993

 

 

 

130

 

 

 

724

 

 

 

4,149

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

 

5

 

 

 

15

 

 

 

22

 

 

 

14

 

 

 

17

 

 

 

73

 

Depreciation and amortization

 

 

24

 

 

 

67

 

 

 

40

 

 

 

4

 

 

 

11

 

 

 

146

 

Assets

 

 

654

 

 

 

1,728

 

 

 

1,038

 

 

 

83

 

 

 

1,362

 

 

 

4,865

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

 

8

 

 

 

25

 

 

 

19

 

 

 

—

 

 

 

6

 

 

 

58

 

Depreciation and amortization

 

 

21

 

 

 

75

 

 

 

49

 

 

 

—

 

 

 

12

 

 

 

157

 

* Amounts included in “Corporate and Discontinued Operations” consist of (i) assets (including all cash and cash equivalents) and depreciation related to corporate activities and shared services of continuing operations, and (ii) assets of discontinued operations amounting to $469 million at December 25, 2021.
Reconciliation of Measure of Division Operating Income to Consolidated Income (Loss) from Continuing Operations Before Income Taxes

A reconciliation of the measure of Division operating income to Consolidated income (loss) from continuing operations before income taxes is as follows:

 

(In millions)

 

2022

 

 

2021

 

 

2020

 

Division operating income

 

$

387

 

 

$

393

 

 

$

396

 

Add/(subtract):

 

 

 

 

 

 

 

 

 

 

 

 

Asset impairments

 

 

(14

)

 

 

(20

)

 

 

(182

)

Merger, restructuring and other operating expenses, net

 

 

(39

)

 

 

(51

)

 

 

(102

)

Unallocated expenses

 

 

(91

)

 

 

(88

)

 

 

(106

)

Interest income

 

 

5

 

 

 

1

 

 

 

4

 

Interest expense

 

 

(16

)

 

 

(28

)

 

 

(42

)

Loss on extinguishment and modification of debt

 

 

—

 

 

 

—

 

 

 

(12

)

Other income, net

 

 

10

 

 

 

24

 

 

 

6

 

Income (loss) from continuing operations before

   income taxes

 

$

242

 

 

$

231

 

 

$

(38

)
Summary of Disaggregated Revenue from Major Sales Categories

The following table provides information about disaggregated sales by major categories:

 

(In millions)

 

2022

 

 

2021

 

 

2020

 

Major sales categories

 

 

 

 

 

 

 

 

 

 

 

 

Supplies

 

$

4,144

 

 

$

3,815

 

 

$

4,006

 

Technology

 

 

2,461

 

 

 

2,758

 

 

 

3,014

 

Furniture and other

 

 

1,255

 

 

 

1,302

 

 

 

1,281

 

Copy and print

 

 

631

 

 

 

590

 

 

 

571

 

Total

 

$

8,491

 

 

$

8,465

 

 

$

8,872