EARNINGS PER SHARE

6 Months Ended

Jun. 27, 2015

NOTE 8. EARNINGS PER SHARE

The following table represents the calculation of net earnings (loss) per common share (“EPS”):


	Second Quarter						First Half
(In millions, except per share amounts)	2015			2014			2015			2014
Basic Earnings Per Share
Numerator:
Net loss attributable to Office Depot, Inc.	$	(58	)	$	(190	)	$	(13	)	$	(300	)
Denominator:
Weighted-average shares outstanding		547			535			546			532
Basic loss per share	$	(0.11	)	$	(0.36	)	$	(0.02	)	$	(0.56	)

Diluted Earnings Per Share
Numerator:
Net loss attributable to Office Depot, Inc.	$	(58	)	$	(190	)	$	(13	)	$	(300	)
Denominator:
Weighted-average shares outstanding		547			535			546			532
Effect of dilutive securities:
Stock options and restricted stock		—			—			—			—

Diluted weighted-average shares outstanding		547			535			546			532
Diluted loss per share	$	(0.11	)	$	(0.36	)	$	(0.02	)	$	(0.56	)

Potentially dilutive stock options and restricted stock representing 9 million shares for the second quarter and first half of 2015, and 7 million and 8 million for the second quarter and first half of 2014, respectively, were excluded from the diluted loss per share calculation because of the net loss in the periods.

Awards of options and nonvested shares representing less than 1 million additional shares of common stock were outstanding for the second quarter and first half of 2015, respectively, and 10 million and 11 million for the second quarter and first half of 2014, 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.