EARNINGS PER SHARE

12 Months Ended

Dec. 26, 2015

NOTE 14. EARNINGS PER SHARE

The following table presents the calculation of net loss per common share — basic and diluted:


(In millions, except per share amounts)	2015		2014			2013
Basic Earnings Per Share
Numerator:
Net income (loss) attributable to common stockholders	$	8	$	(354	)	$	(93	)

Denominator:
Weighted-average shares outstanding		547		535			318
Basic earnings (loss) per share	$	0.01	$	(0.66	)	$	(0.29	)
Diluted Earnings Per Share
Numerator:
Net income (loss) attributable to Office Depot, Inc.	$	8	$	(354	)	$	(20	)

Denominator:
Weighted-average shares outstanding		547		535			318
Effect of dilutive securities:
Stock options and restricted stock		8		—			—

Diluted weighted-average shares outstanding		555		535			318

Diluted earnings (loss) per share	$	0.01	$	(0.66	)	$	(0.29	)

The following potentially dilutive stock options and restricted stock were excluded from the diluted loss per share calculation because of the net loss in the periods.


(In millions)	2015		2014		2013
Potentially dilutive securities:
Stock options and restricted stock		—		8		7
Redeemable preferred stock		—		—		56

Awards of options and nonvested shares representing an additional 4 million, 9 million and 6 million shares of common stock were outstanding for the years ended December 26, 2015, December 27, 2014, and December 28, 2013, respectively, but were not included in the computation of diluted weighted-average shares outstanding because their effect would have been antidilutive. For the three years 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 stocks were outstanding, basic earnings (loss) per share (“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. The preferred stockholders were not required to fund losses.