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MERGER, ACQUISITION AND DISPOSITION (Tables) | 12 Months Ended
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Dec. 28, 2013
Unaudited Consolidated Pro Forma Summary | The following unaudited consolidated pro forma summary has been prepared by adjusting the Company’s historical data to give effect to the Merger as if it had occurred on January 1, 2012:
|  | Pro Forma – Unaudited |
(In millions, except per share amounts) |  | Year Ended December 28, 2013 |  |  | Year Ended December 29, 2012 |
Sales |  | $ | 16,879 |  |  | $ | 17,640 |
Net income |  | $ | 33 |  |  | $ | 262 |
Net income attributable to common stockholders |  | $ | 31 |  |  | $ | 258 |
Earnings per share available to common stockholders |  |  |  |  |  |  |  |
Basic |  | $ | 0.06 |  |  | $ | 0.50 |
Diluted |  | $ | 0.06 |  |  | $ | 0.49 |
Summary of Consideration Transferred | The Merger was an all-stock transaction. The following table summarizes the consideration transferred.
(In millions, except for share exchange ratio and price) |  |  |
OfficeMax common shares outstanding as of November 5, 2013 |  |  | 88 |
OfficeMax share-based awards exchanged |  |  | 3 |
OfficeMax Series D preferred shares, as converted |  |  | 1 |
OfficeMax common shares exchanged |  |  | 92 |
Exchange ratio |  |  | 2.69 |
Office Depot common stock issued for consideration |  |  | 246.9 |
Office Depot common stock per share price on November 5, 2013 |  | $ | 5.65 |
Total fair value of consideration transferred |  | $ | 1,395 |
Allocation of Consideration | The consideration is distributed to the following assets and liabilities. The allocation of consideration is not yet complete and the amounts below may change in future periods.
(In millions) |
Cash and cash equivalents |  | $ | 460 |
Receivables |  |  | 521 |
Inventories |  |  | 766 |
Prepaid expenses and other current assets |  |  | 106 |
Property and equipment |  |  | 537 |
Favorable leases |  |  | 44 |
Definite-lived intangible assets, primarily customer relationships and tradenames |  |  | 57 |
Investment in Boise Cascade Holdings |  |  | 80 |
Timber notes receivable |  |  | 948 |
Other noncurrent assets |  |  | 51 |
Accounts payable |  |  | (527 | )
Other current liabilities (a) |  |  | (470 | )
Unfavorable leases |  |  | (54 | )
Non-recourse debt |  |  | (863 | )
Recourse debt |  |  | (228 | )
Pension and other post-employment obligations |  |  | (180 | )
Deferred income taxes and other long-term liabilities and Noncontrolling interest |  |  | (230 | )
Total identifiable net assets |  |  | 1,018 |
Goodwill |  |  | 377 |
Total |  | $ | 1,395 |
(a) | Includes accrued expenses and other current liabilities and income taxes payable

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