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EARNINGS PER SHARE | 3 Months Ended
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Mar. 29, 2014
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) |  | 2014 |  |  | 2013 |
Basic Loss Per Share |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Net loss available to common shareholders |  | $ | (109 | ) |  | $ | (17 | )
Denominator: |  |  |  |  |  |  |  |
Weighted-average shares outstanding |  |  | 530 |  |  |  | 282 |
Basic loss per share |  | $ | (0.21 | ) |  | $ | (0.06 | )
Diluted Loss Per Share |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Net loss attributable to Office Depot, Inc. |  | $ | (109 | ) |  | $ | (7 | )
Denominator: |  |  |  |  |  |  |  |
Weighted-average shares outstanding |  |  | 530 |  |  |  | 282 |
Effect of dilutive securities: |  |  |  |  |  |  |  |
Stock options and restricted stock |  |  | — |  |  |  | 6 |
Redeemable preferred stock |  |  | — |  |  |  | 81 |
Diluted weighted-average shares outstanding |  |  | 530 |  |  |  | 369 |
Diluted loss per share |  | $ | (0.21 | ) |  | $ | N/A |
The weighted average share calculation for the first quarter 2014 is impacted by the shares issued in connection with the Merger. 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 an additional 12 million and 8 million shares of common stock were outstanding for the first quarters of 2014 and 2013, 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. Shares of the redeemable preferred stock were fully redeemed in 2013. In periods in which the redeemable preferred stock were outstanding, basic EPS was computed after consideration of preferred stock dividends. The redeemable preferred stock had equal dividend participation rights with common stock that required application of the two-class method for computing earnings per share. In periods of sufficient earnings, this method assumes an allocation of undistributed earnings to both participating stock classes. The two-class method was not applicable to the first quarter of 2013 because it would have been antidilutive. The first quarter 2013 diluted share amount is provided for informational purposes, as the loss for the period causes basic earnings per share to be the most dilutive. The preferred stockholders were not required to fund losses. Refer to Note 2 for further redemption details.

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