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SEGMENT INFORMATION (Tables) | 9 Months Ended
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Sep. 28, 2024
Segment Reporting [Abstract] |
Summary of Sales and Operating Income by Each of the Divisions, Reconciled to Consolidated Totals | The following is a summary of sales and operating income by each of the Divisions, reconciled to consolidated totals:
(In millions) |  | ODP Business Solutions Division |  |  | Office Depot Division |  |  | Veyer Division |  |  | Eliminations |  |  | Total |
Third Quarter of 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales (external) |  | $ | 914 |  |  | $ | 852 |  |  | $ | 14 |  |  | $ | — |  |  | $ | 1,780 |
Sales (internal) |  |  | 2 |  |  |  | 9 |  |  |  | 1,190 |  |  |  | (1,201 | ) |  |  | — |
Total sales |  | $ | 916 |  |  | $ | 861 |  |  | $ | 1,204 |  |  | $ | (1,201 | ) |  | $ | 1,780 |
Division operating income |  | $ | 28 |  |  | $ | 23 |  |  | $ | 9 |  |  | $ | — |  |  | $ | 60 |
Year-to-Date 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales (external) |  | $ | 2,753 |  |  | $ | 2,580 |  |  | $ | 34 |  |  | $ | — |  |  | $ | 5,367 |
Sales (internal) |  |  | 7 |  |  |  | 24 |  |  |  | 3,591 |  |  |  | (3,622 | ) |  |  | — |
Total sales |  | $ | 2,760 |  |  | $ | 2,604 |  |  | $ | 3,625 |  |  | $ | (3,622 | ) |  | $ | 5,367 |
Division operating income |  | $ | 87 |  |  | $ | 91 |  |  | $ | 23 |  |  | $ | — |  |  | $ | 201 |
Third Quarter of 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales (external) |  | $ | 996 |  |  | $ | 1,000 |  |  | $ | 11 |  |  | $ | — |  |  | $ | 2,007 |
Sales (internal) |  |  | 4 |  |  |  | 10 |  |  |  | 1,320 |  |  |  | (1,334 | ) |  |  | — |
Total sales |  | $ | 1,000 |  |  | $ | 1,010 |  |  | $ | 1,331 |  |  | $ | (1,334 | ) |  | $ | 2,007 |
Division operating income |  | $ | 56 |  |  | $ | 66 |  |  | $ | 10 |  |  | $ | — |  |  | $ | 132 |
Year-to-Date 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales (external) |  | $ | 3,001 |  |  | $ | 2,991 |  |  | $ | 28 |  |  | $ | — |  |  | $ | 6,020 |
Sales (internal) |  |  | 11 |  |  |  | 27 |  |  |  | 4,044 |  |  |  | (4,082 | ) |  |  | — |
Total sales |  | $ | 3,012 |  |  | $ | 3,018 |  |  | $ | 4,072 |  |  | $ | (4,082 | ) |  | $ | 6,020 |
Division operating income |  | $ | 140 |  |  | $ | 186 |  |  | $ | 31 |  |  | $ | — |  |  | $ | 357 |
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, and includes charges and credits retained at the Corporate level:
|  | Third Quarter |  |  | Year-to-Date |
(In millions) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Total Divisions operating income |  | $ | 60 |  |  | $ | 132 |  |  | $ | 201 |  |  | $ | 357 |
Add/(subtract): |  |  |  |  |  |  |  |  |  |  |  |
Asset impairments |  |  | (7 | ) |  |  | (3 | ) |  |  | (21 | ) |  |  | (13 | )
Merger and restructuring expenses, net |  |  | (2 | ) |  |  | (1 | ) |  |  | (47 | ) |  |  | (2 | )
Legal matter monetization |  |  | 70 |  |  |  | — |  |  |  | 70 |  |  |  | — |
Unallocated expenses |  |  | (19 | ) |  |  | (20 | ) |  |  | (60 | ) |  |  | (63 | )
Interest income |  |  | 2 |  |  |  | 3 |  |  |  | 7 |  |  |  | 7 |
Interest expense |  |  | (6 | ) |  |  | (5 | ) |  |  | (16 | ) |  |  | (15 | )
Other income, net |  |  | (3 | ) |  |  | 3 |  |  |  | (4 | ) |  |  | 8 |
Income from continuing operations before income taxes |  | $ | 95 |  |  | $ | 109 |  |  | $ | 130 |  |  | $ | 279 |
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) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Major sales categories |  |  |  |  |  |  |  |  |  |  |  |
Supplies |  | $ | 877 |  |  | $ | 1,013 |  |  | $ | 2,652 |  |  | $ | 3,012 |
Technology |  |  | 485 |  |  |  | 530 |  |  |  | 1,489 |  |  |  | 1,669 |
Furniture and other |  |  | 263 |  |  |  | 296 |  |  |  | 752 |  |  |  | 846 |
Copy and print |  |  | 155 |  |  |  | 168 |  |  |  | 474 |  |  |  | 493 |
Total |  | $ | 1,780 |  |  | $ | 2,007 |  |  | $ | 5,367 |  |  | $ | 6,020 |
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 September 28, 2024 |
ODP Business Solutions Division |  | $ | 149 |  |  | $ | 9 |  |  | $ | 158 |
Office Depot Division |  |  | 219 |  |  |  | — |  |  |  | 219 |
Veyer Division |  |  | 35 |  |  |  | — |  |  |  | 35 |
Total |  | $ | 403 |  |  | $ | 9 |  |  | $ | 412 |

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