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SEGMENT INFORMATION | 12 Months Ended
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Dec. 25, 2021
Segment Reporting [Abstract] |
SEGMENT INFORMATION | NOTE 5. SEGMENT INFORMATION At December 25, 2021, the Company had two reportable segments: Business Solutions Division and Retail Division. The Business Solutions Division sells nationally branded as well as the Company’s private branded office supply and adjacency products and services to customers in the United States, Puerto Rico, the U.S. Virgin Islands, and Canada. Business Solutions Division customers are served through a dedicated sales force, catalogs, telesales, and electronically through the Company’s Internet websites. The Retail Division includes a chain of retail stores in the United States, Puerto Rico and the U.S. Virgin Islands, which sell office supplies, technology products and solutions, business machines and related supplies, cleaning, breakroom and facilities products, personal protective equipment, and office furniture as well as offer business services including copying, printing, digital imaging, mailing, shipping and technology support services. In addition, the print needs for retail and business customers are also facilitated through the Company’s regional print production centers. During the third quarter of 2021, management obtained the Board of Directors’ alignment and committed to a plan to sell its CompuCom Division through a single disposal group. The CompuCom disposal group has met the accounting criteria to be classified as held for sale as of June 29, 2021 and is presented as discontinued operations for all periods presented. The sale of the CompuCom Division was completed on December 31, 2021. Refer to Note 17 for additional information. The operating results of the Company’s Varis operating segment, which was created in 2021 and includes the operating results of BuyerQuest, did not meet the criteria to be reported as a reportable segment as its results are not significant. Accordingly, the operating results of Varis are presented as Other. Sales of Varis were $5 million in 2021. The retained global sourcing operations previously included in the former International Division are also not significant and have been presented as Other. The products and services offered by the Business Solutions Division and the Retail Division are similar. The Company’s two operating segments are its two reportable segments. The Business Solutions Division and the Retail Division are managed separately as they represent separate channels in the way the Company serves its customers. The accounting policies for each segment are the same as those described in Note 1. Division operating income is determined based on the measure of performance reported internally to manage the business and for resource allocation. This measure charges to the respective Divisions those expenses considered directly or closely related to their operations and allocates support costs. Certain operating expenses and credits are not allocated to the Business Solutions Division or the Retail Division, including asset impairments and merger, restructuring and other operating expenses, as well as expenses and credits retained at the Corporate level, including certain management costs and legacy pension and environmental matters. Other companies may charge more or less of these items to their segments and results may not be comparable to similarly titled measures used by other entities. In addition, the Company regularly evaluates the appropriateness of the reportable segments based on how the business is managed, including decision-making about resources allocation and assessing performance of the segments, particularly in light of organizational changes, merger and acquisition activity and changing laws and regulations. Therefore, the current reportable segments may change in the future. A summary of significant accounts and balances by segment, reconciled to consolidated totals, after the elimination of discontinued operations for all periods is as follows.
(In millions) |  |  |  | Business Solutions Division |  |  | Retail Division |  |  | Other |  |  | Corporate and Discontinued Operations* |  |  | Consolidated Total |
Sales |  | 2021 |  | $ | 4,597 |  |  | $ | 3,837 |  |  | $ | 31 |  |  | $ | — |  |  | $ | 8,465 |
|  | 2020 |  |  | 4,683 |  |  |  | 4,167 |  |  |  | 22 |  |  |  | — |  |  |  | 8,872 |
|  | 2019 |  |  | 5,279 |  |  |  | 4,363 |  |  |  | 25 |  |  |  | — |  |  |  | 9,667 |
Division operating income (loss) |  | 2021 |  |  | 119 |  |  |  | 306 |  |  |  | (29 | ) |  |  | — |  |  |  | 396 |
|  | 2020 |  |  | 116 |  |  |  | 275 |  |  |  | (1 | ) |  |  | — |  |  |  | 390 |
|  | 2019 |  |  | 271 |  |  |  | 194 |  |  |  | — |  |  |  | — |  |  |  | 465 |
Capital expenditures |  | 2021 |  |  | 27 |  |  |  | 18 |  |  |  | 14 |  |  |  | 14 |  |  |  | 73 |
|  | 2020 |  |  | 25 |  |  |  | 28 |  |  |  | — |  |  |  | 5 |  |  |  | 58 |
|  | 2019 |  |  | 43 |  |  |  | 68 |  |  |  | — |  |  |  | 29 |  |  |  | 140 |
Depreciation and amortization |  | 2021 |  |  | 65 |  |  |  | 67 |  |  |  | 3 |  |  |  | 11 |  |  |  | 146 |
|  | 2020 |  |  | 66 |  |  |  | 80 |  |  |  | — |  |  |  | 11 |  |  |  | 157 |
|  | 2019 |  |  | 66 |  |  |  | 91 |  |  |  | — |  |  |  | 8 |  |  |  | 165 |
Charges for losses on receivables and inventories |  | 2021 |  |  | 2 |  |  |  | 20 |  |  |  | — |  |  |  | — |  |  |  | 22 |
|  | 2020 |  |  | 9 |  |  |  | 24 |  |  |  | — |  |  |  | — |  |  |  | 33 |
|  | 2019 |  |  | — |  |  |  | 25 |  |  |  | — |  |  |  | — |  |  |  | 25 |
Assets |  | 2021 |  |  | 1,494 |  |  |  | 1,760 |  |  |  | 90 |  |  |  | 1,521 |  |  |  | 4,865 |
|  | 2020 |  |  | 1,581 |  |  |  | 1,962 |  |  |  | 5 |  |  |  | 2,066 |  |  |  | 5,614 |
* | Amounts included in “Corporate and Discontinued Operations” consist of (i) assets (including all cash and cash equivalents) and depreciation related to corporate activities of continuing operations, and (ii) assets of discontinued operations amounting to $469 million at December 25, 2021 and $841 million at December 26, 2020.
A reconciliation of the measure of Division operating income to Consolidated income (loss) from continuing operations before income taxes is as follows:
(In millions) |  | 2021 |  |  | 2020 |  |  | 2019 |
Division operating income |  | $ | 396 |  |  | $ | 390 |  |  | $ | 465 |
Add/(subtract): |  |  |  |  |  |  |  |  |  |  |  |
Asset impairments |  |  | (20 | ) |  |  | (182 | ) |  |  | (56 | )
Merger, restructuring and other operating expenses, net |  |  | (51 | ) |  |  | (102 | ) |  |  | (86 | )
Unallocated expenses |  |  | (91 | ) |  |  | (100 | ) |  |  | (99 | )
Interest income |  |  | 1 |  |  |  | 4 |  |  |  | 22 |
Interest expense |  |  | (28 | ) |  |  | (42 | ) |  |  | (89 | )
Loss on extinguishment and modification of debt |  |  | — |  |  |  | (12 | ) |  |  | — |
Other income, net |  |  | 24 |  |  |  | 6 |  |  |  | 21 |
Income (loss) from continuing operations before income taxes |  | $ | 231 |  |  | $ | (38 | ) |  | $ | 178 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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