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v3.23.1

SEGMENT INFORMATION (Tables) | 3 Months Ended
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Apr. 01, 2023
Segment Reporting [Abstract] |
Summary of Sales and Operating Income (Loss) by Each of the Divisions, Reconciled to Consolidated Totals | The following is a summary of sales and operating income (loss) by each of the Divisions, reconciled to consolidated totals:
(In millions) |  | ODP Business Solutions Division |  |  | Office Depot Division |  |  | Veyer Division |  |  | Varis Division |  |  | Eliminations |  |  | Total |
First Quarter of 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales (external) |  | $ | 1,005 |  |  | $ | 1,094 |  |  | $ | 7 |  |  | $ | 2 |  |  | $ | - |  |  | $ | 2,108 |
Sales (internal) |  |  | 4 |  |  |  | 9 |  |  |  | 1,412 |  |  |  | - |  |  |  | (1,425 | ) |  | $ | - |
Total sales |  | $ | 1,009 |  |  | $ | 1,103 |  |  | $ | 1,419 |  |  | $ | 2 |  |  | $ | (1,425 | ) |  | $ | 2,108 |
Division operating income (loss) |  | $ | 39 |  |  | $ | 85 |  |  | $ | 15 |  |  | $ | (17 | ) |  | $ | - |  |  | $ | 122 |
First Quarter of 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales (external) |  | $ | 978 |  |  | $ | 1,194 |  |  | $ | 4 |  |  | $ | 2 |  |  | $ | - |  |  | $ | 2,178 |
Sales (internal) |  |  | 6 |  |  |  | 7 |  |  |  | 1,529 |  |  |  | - |  |  |  | (1,542 | ) |  |  | - |
Total sales |  | $ | 984 |  |  | $ | 1,201 |  |  | $ | 1,533 |  |  | $ | 2 |  |  | $ | (1,542 | ) |  | $ | 2,178 |
Division operating income (loss) |  | $ | 19 |  |  | $ | 96 |  |  | $ | 8 |  |  | $ | (15 | ) |  | $ | - |  |  | $ | 108 |
Reconciliation of Measure of Division Operating Income to Consolidated Income (Loss) from Continuing Operations Before Income Taxes | The reconciliation of the measure of Division operating income to Consolidated income from continuing operations before income taxes is as follows:
|  | First Quarter |
(In millions) |  | 2023 |  |  | 2022 |
Total Divisions operating income |  | $ | 122 |  |  | $ | 108 |
Add/(subtract): |  |  |  |  |  |
Asset impairments |  |  | (4 | ) |  |  | (2 | )
Merger, restructuring and other operating expenses, net |  |  | - |  |  |  | (10 | )
Unallocated expenses |  |  | (23 | ) |  |  | (20 | )
Interest income |  |  | 2 |  |  |  | 1 |
Interest expense |  |  | (5 | ) |  |  | (5 | )
Other income, net |  |  | 2 |  |  |  | 2 |
Income from continuing operations before income taxes |  | $ | 94 |  |  | $ | 74 |
Summary of Disaggregated Revenue from Major Sales Categories | The following table provides information about disaggregated sales by major categories:
|  | First Quarter |
(In millions) |  | 2023 |  |  | 2022 |
Major sales categories |  |  |  |  |  |
Supplies |  | $ | 1,052 |  |  | $ | 1,049 |
Technology |  |  | 616 |  |  |  | 672 |
Furniture and other |  |  | 278 |  |  |  | 311 |
Copy and print |  |  | 162 |  |  |  | 146 |
Total |  | $ | 2,108 |  |  | $ | 2,178 |
Schedule of Goodwill by Segment | The components of goodwill by segment are as follows:
(In millions) |  | Balance as of December 31, 2022 |  |  | Acquisitions |  |  | Balance as of April 1, 2023 |
ODP Business Solutions Division |  | $ | 142 |  |  | $ | 3 |  |  | $ | 145 |
Office Depot Division |  |  | 219 |  |  |  | - |  |  |  | 219 |
Veyer Division |  |  | 35 |  |  |  | - |  |  |  | 35 |
Varis Division |  |  | 68 |  |  |  | - |  |  |  | 68 |
Total |  | $ | 464 |  |  | $ | 3 |  |  | $ | 467 |

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