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ACQUISITION, MERGER AND RESTRUCTURING (Tables)

9 Months Ended

Sep. 24, 2016

Major Components of Merger, Restructuring and Other Operating Expenses, Net

The table below and narrative that follows provides the major components of Merger, restructuring and other operating (income) expenses, net.

		Third Quarter								Year-to-Date
(In millions)		2016				2015				2016				2015
Merger related expenses
Severance, retention, and relocation		$	—			$	4			$	—			$	15
Transaction and integration			8				16				30				69
Facility closure, contract termination, and other costs, net			4				18				21				32
Total Merger related expenses			12				38				51				116
Staples Acquisition (income) expenses
Retention			—				26				15				58
Transaction			4				15				43				30
Termination Fee			—				—				(250	)			—
Total Staples Acquisition (income) expenses			4				41				(192	)			88
Comprehensive Business Review expenses
Severance			9				—				13				—
Other related expenses			6				—				6				—
Total Comprehensive Business Review expenses			15				—				19				—
Total Merger, restructuring and other operating (income) expenses, net		$	31			$	79			$	(122	)		$	204

Facility Closure and Severance Costs

These amounts are excluded from the table below because they are recorded as incurred or earned, non-cash, or otherwise not associated with Merger and restructuring balance sheet accounts.

						Year-to-Date 2016
(In millions)		December 26, 2015				Charges Incurred				Cash Payments				Lease Accretion and Other Adjustments				September 24, 2016
Termination benefits
Merger related accruals		$	16			$	—			$	(6	)		$	(2	)		$	8
Comprehensive Business Review			—				13				(5	)			—				8
Lease and contract obligations, accruals for facilities closures and other costs
Merger related accruals			77				16				(51	)			3				45
Other restructuring accruals			14				(1	)			(7	)			1				7
Acquired entity accruals			25				(2	)			(6	)			3				20
Staples Acquisition related accruals			64				15				(79	)			—				—
Total		$	196			$	41			$	(154	)		$	5			$	88

Assets Held for Sale Activity

The assets held for sale activity in the year-to-date 2016 is presented in the table below.

(In millions)
Balance as of December 26, 2015		$	30
Additions			6
Dispositions			(7	)
Balance as of September 24, 2016		$	29

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Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

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-Name Accounting Standards Codification
-Topic 420
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
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Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4(b)(2))
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