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SEGMENT INFORMATION (Tables)
 3 Months Ended
Mar. 30, 2024
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 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales (external)

 

$

923

 

 

$

937

 

 

$

9

 

 

$

2

 

 

$

—

 

 

$

1,871

 

Sales (internal)

 

 

3

 

 

 

7

 

 

 

1,235

 

 

 

—

 

 

 

(1,245

)

 

 

—

 

Total sales

 

$

926

 

 

$

944

 

 

$

1,244

 

 

$

2

 

 

$

(1,245

)

 

$

1,871

 

Division operating income (loss)

 

$

30

 

 

$

50

 

 

$

9

 

 

$

(14

)

 

$

—

 

 

$

75

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 
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)

 

2024

 

 

2023

 

Total Divisions operating income

 

$

75

 

 

$

122

 

Add/(subtract):

 

 

 

 

 

 

Asset impairments

 

 

(6

)

 

 

(4

)

Merger and restructuring expenses, net

 

 

(27

)

 

 

—

 

Unallocated expenses

 

 

(24

)

 

 

(23

)

Interest income

 

 

3

 

 

 

2

 

Interest expense

 

 

(4

)

 

 

(5

)

Other income, net

 

 

—

 

 

 

2

 

Income from continuing operations before income taxes

 

$

17

 

 

$

94

 
Summary of Disaggregated Revenue from Major Sales Categories

The following table provides information about disaggregated sales by major categories:

 

 

First Quarter

 

(In millions)

 

2024

 

 

2023

 

Major sales categories

 

 

 

 

 

 

Supplies

 

$

929

 

 

$

1,052

 

Technology

 

 

531

 

 

 

616

 

Furniture and other

 

 

253

 

 

 

278

 

Copy and print

 

 

158

 

 

162

 

Total

 

$

1,871

 

 

$

2,108

 
Schedule of Goodwill by Segment

The components of goodwill by segment are as follows:

(In millions)

 

Balance as of December 30, 2023

 

 

Acquisitions

 

 

Balance as of March 30, 2024

 

ODP Business Solutions Division

 

$

149

 

 

$

—

 

 

$

149

 

Office Depot Division

 

 

219

 

 

 

—

 

 

 

219

 

Veyer Division

 

 

35

 

 

 

—

 

 

 

35

 

Total

 

$

403

 

 

$

—

 

 

$

403