Exhibit 99.1
Supplemental Financial Information of The ODP Corporation
| First Quarter 2024 |
Second Quarter 2024 |
First Half |
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| Cash flows from operating activities: |
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| Net income (loss) |
$ | 15 | $ | (73 | ) | $ | (58 | ) | ||||
| Loss from discontinued operations, net of tax |
(16 | ) | (69 | ) | (85 | ) | ||||||
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| Net income (loss) from continuing operations |
31 | (4 | ) | 27 | ||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: |
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| Depreciation and amortization |
25 | 24 | 49 | |||||||||
| Amortization of debt discount and issuance costs |
1 | — | 1 | |||||||||
| Charges for losses on receivables and inventories |
9 | 3 | 12 | |||||||||
| Asset impairments |
6 | 8 | 14 | |||||||||
| Loss on disposition of assets, net |
— | — | (1 | ) | ||||||||
| Compensation expense for share-based payments |
9 | 10 | 20 | |||||||||
| Deferred income taxes and deferred tax asset valuation allowances |
(8 | ) | (10 | ) | (18 | ) | ||||||
| Changes in working capital and other operating activities |
(29 | ) | (32 | ) | (61 | ) | ||||||
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| Net cash provided by (used in) operating activities of continuing operations |
44 | (1 | ) | 43 | ||||||||
| Net cash used in operating activities of discontinued operations |
(6 | ) | (10 | ) | (16 | ) | ||||||
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| Net cash provided by (used in) operating activities |
38 | (11 | ) | 27 | ||||||||
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| Cash flows from investing activities: |
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| Capital expenditures |
(31 | ) | (19 | ) | (50 | ) | ||||||
| Businesses acquired, net of cash acquired |
— | — | — | |||||||||
| Proceeds from disposition of assets |
1 | — | 1 | |||||||||
| Other investing activities |
— | 1 | 1 | |||||||||
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| Net cash used in investing activities of continuing operations |
(30 | ) | (18 | ) | (48 | ) | ||||||
| Net cash used in investing activities of discontinued operations |
(4 | ) | (2 | ) | (5 | ) | ||||||
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| Net cash used in investing activities |
(34 | ) | (20 | ) | (53 | ) | ||||||
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| Cash flows from financing activities: |
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| Net payments on long and short-term borrowings |
(3 | ) | (3 | ) | (5 | ) | ||||||
| Cash used in extinguishment and modification of debt |
— | — | — | |||||||||
| Debt retirement |
(128 | ) | (112 | ) | (240 | ) | ||||||
| Debt issuance |
75 | 171 | 246 | |||||||||
| Share purchases for taxes, net of proceeds from employee share-based transactions |
(6 | ) | (9 | ) | (15 | ) | ||||||
| Repurchase of common stock for treasury and advance payment for accelerated share repurchase |
(50 | ) | (103 | ) | (153 | ) | ||||||
| Other financing activities |
(1 | ) | (5 | ) | (7 | ) | ||||||
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| Net cash used in financing activities of continuing operations |
(113 | ) | (61 | ) | (174 | ) | ||||||
| Net cash provided by (used in) financing activities of discontinued operations |
— | — | — | |||||||||
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| Net cash used in financing activities |
(113 | ) | (61 | ) | (174 | ) | ||||||
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| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
(1 | ) | — | (2 | ) | |||||||
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| Net decrease in cash, cash equivalents and restricted cash |
(110 | ) | (92 | ) | (202 | ) | ||||||
| Cash, cash equivalents and restricted cash at beginning of period |
395 | 285 | 395 | |||||||||
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| Cash, cash equivalents and restricted cash at end of period |
$ | 285 | $ | 193 | $ | 193 | ||||||
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Amounts may not foot due to rounding. The sum of the quarterly amounts may not equal the reported amounts for the year due to rounding.