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v3.23.3

SEGMENT INFORMATION (Tables) | 9 Months Ended
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Sep. 30, 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 |
Third Quarter of 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales (external) |  | $ | 996 |  |  | $ | 1,000 |  |  | $ | 11 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 2,009 |
Sales (internal) |  |  | 4 |  |  |  | 10 |  |  |  | 1,320 |  |  |  | — |  |  |  | (1,334 | ) |  |  | — |
Total sales |  | $ | 1,000 |  |  | $ | 1,010 |  |  | $ | 1,331 |  |  | $ | 2 |  |  | $ | (1,334 | ) |  | $ | 2,009 |
Division operating income (loss) |  | $ | 56 |  |  | $ | 66 |  |  | $ | 10 |  |  | $ | (17 | ) |  | $ | — |  |  | $ | 115 |
Year-to-Date 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales (external) |  | $ | 3,001 |  |  | $ | 2,991 |  |  | $ | 28 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 6,025 |
Sales (internal) |  |  | 11 |  |  |  | 27 |  |  |  | 4,044 |  |  |  | — |  |  |  | (4,082 | ) |  |  | — |
Total sales |  | $ | 3,012 |  |  | $ | 3,018 |  |  | $ | 4,072 |  |  | $ | 5 |  |  | $ | (4,082 | ) |  | $ | 6,025 |
Division operating income (loss) |  | $ | 140 |  |  | $ | 186 |  |  | $ | 31 |  |  | $ | (48 | ) |  | $ | — |  |  | $ | 309 |
Third Quarter of 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales (external) |  | $ | 1,030 |  |  | $ | 1,133 |  |  | $ | 7 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 2,172 |
Sales (internal) |  |  | 5 |  |  |  | 10 |  |  |  | 1,477 |  |  |  | — |  |  |  | (1,492 | ) |  |  | — |
Total sales |  | $ | 1,035 |  |  | $ | 1,143 |  |  | $ | 1,484 |  |  | $ | 2 |  |  | $ | (1,492 | ) |  | $ | 2,172 |
Division operating income (loss) |  | $ | 48 |  |  | $ | 83 |  |  | $ | 9 |  |  | $ | (17 | ) |  | $ | — |  |  | $ | 123 |
Year-to-Date 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales (external) |  | $ | 3,004 |  |  | $ | 3,358 |  |  | $ | 18 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 6,385 |
Sales (internal) |  |  | 15 |  |  |  | 25 |  |  |  | 4,415 |  |  |  | — |  |  |  | (4,455 | ) |  |  | — |
Total sales |  | $ | 3,019 |  |  | $ | 3,383 |  |  | $ | 4,433 |  |  | $ | 5 |  |  | $ | (4,455 | ) |  | $ | 6,385 |
Division operating income (loss) |  | $ | 103 |  |  | $ | 228 |  |  | $ | 25 |  |  | $ | (48 | ) |  | $ | — |  |  | $ | 308 |
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:
|  | Third Quarter |  |  | Year-to-Date |
(In millions) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Total Divisions operating income |  | $ | 115 |  |  | $ | 123 |  |  | $ | 309 |  |  | $ | 308 |
Add/(subtract): |  |  |  |  |  |  |  |  |  |  |  |
Asset impairments |  |  | (3 | ) |  |  | (3 | ) |  |  | (13 | ) |  |  | (8 | )
Merger, restructuring and other operating expenses, net |  |  | (1 | ) |  |  | (8 | ) |  |  | (2 | ) |  |  | (42 | )
Unallocated expenses |  |  | (20 | ) |  |  | (28 | ) |  |  | (62 | ) |  |  | (70 | )
Interest income |  |  | 3 |  |  |  | 1 |  |  |  | 7 |  |  |  | 3 |
Interest expense |  |  | (5 | ) |  |  | (1 | ) |  |  | (15 | ) |  |  | (10 | )
Other income, net |  |  | 3 |  |  |  | 5 |  |  |  | 8 |  |  |  | 9 |
Income from continuing operations before income taxes |  | $ | 92 |  |  | $ | 89 |  |  | $ | 232 |  |  | $ | 190 |
Summary of Disaggregated Revenue from Major Sales Categories | The following table provides information about disaggregated sales by major categories:
|  | Third Quarter |  |  | Year-to-Date |
(In millions) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Major sales categories |  |  |  |  |  |  |  |  |  |  |  |
Supplies |  | $ | 1,013 |  |  | $ | 1,080 |  |  | $ | 3,012 |  |  | $ | 3,106 |
Technology |  |  | 531 |  |  |  | 597 |  |  |  | 1,674 |  |  |  | 1,871 |
Furniture and other |  |  | 297 |  |  |  | 336 |  |  |  | 846 |  |  |  | 948 |
Copy and print |  |  | 168 |  |  |  | 159 |  |  |  | 493 |  |  |  | 460 |
Total |  | $ | 2,009 |  |  | $ | 2,172 |  |  | $ | 6,025 |  |  | $ | 6,385 |
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 September 30, 2023 |
ODP Business Solutions Division |  | $ | 142 |  |  | $ | 4 |  |  | $ | 146 |
Office Depot Division |  |  | 219 |  |  |  | — |  |  |  | 219 |
Veyer Division |  |  | 35 |  |  |  | — |  |  |  | 35 |
Varis Division |  |  | 68 |  |  |  | — |  |  |  | 68 |
Total |  | $ | 464 |  |  | $ | 4 |  |  | $ | 468 |

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