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EARNINGS PER SHARE (Tables)
 9 Months Ended
Sep. 27, 2014
Calculation of Net Earnings (Loss) Per Common 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)    2014      2013     2014     2013  

Basic Earnings Per Share

          

Numerator:

          

Net income (loss) available to common shareholders

    $ 29      $ 133     $ (270 )   $ 52  

Assumed distribution to participating securities

      —           (14 )      —          —     
  

 

 

     

 

 

    

 

 

    

 

 

  

Assumed undistributed income (loss) available to common stock

      29         119        (270 )      52   

Denominator:

          

Weighted-average shares outstanding

      536        284       534       282  

Basic earnings (loss) per share

    $ 0.05      $ 0.42     $ (0.51 )   $ 0.18  

Diluted Earnings Per Share

          

Numerator:

          

Net income (loss) attributable to Office Depot, Inc.

    $ 29      $ 161     $ (270 )   $ 100  

Preferred stock redemption dividend

      —           (22 )      —          (22 ) 
  

 

 

     

 

 

    

 

 

    

 

 

  

Net income(loss) available for assumed distribution

      29         139        (270 )      78   

Denominator:

          

Weighted-average shares outstanding

      536        284       534       282  

Effect of dilutive securities:

          

Stock options and restricted stock

      9        5       —         5  

Redeemable preferred stock

      —          45       —         69  
  

 

 

     

 

 

    

 

 

    

 

 

  

Diluted weighted-average shares outstanding

      545        334       534       356  

Diluted earnings (loss) per share

    $ 0.05        0.41     $ (0.51 )     N/A