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SEGMENT INFORMATION (Tables)
 3 Months Ended
Mar. 29, 2025
Segment Reporting [Abstract]  
Summary of Sales and Operating Income by Each of the Divisions, Reconciled to Consolidated Sales and Income (Loss) from Continuing Operations Before Income Taxes

The following tables present sales and operating income by each of the Divisions, reconciled to consolidated sales and income (loss) from continuing operations before income taxes. The tables also include significant expenses of the Divisions:

(In millions)

 

ODP Business Solutions Division

 

 

Office Depot Division

 

 

Veyer Division

 

 

Total

 

First Quarter of 2025

 

 

 

 

 

 

 

 

 

 

 

 

Sales (external)

 

$

850

 

 

$

832

 

 

$

17

 

 

$

1,699

 

Sales (internal)

 

 

2

 

 

 

6

 

 

 

1,135

 

 

 

1,143

 

Total sales

 

$

852

 

 

$

838

 

 

$

1,152

 

 

$

2,842

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation of revenue

 

 

 

 

 

 

 

 

 

 

 

 

Elimination of intersegment revenues

 

 

 

 

 

 

 

 

 

 

 

(1,143

)

Total consolidated revenues

 

 

 

 

 

 

 

 

 

 

$

1,699

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of goods (and occupancy costs)

 

 

733

 

 

 

620

 

 

 

1,129

 

 

 

 

Selling, general and administrative expenses

 

 

98

 

 

 

173

 

 

 

15

 

 

 

 

Division operating income

 

$

21

 

 

$

45

 

 

$

8

 

 

$

74

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation of segment profit (loss)

 

 

 

 

 

 

 

 

 

 

 

 

Less unallocated amounts:

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

 

 

 

 

 

 

 

 

 

20

 

Asset impairments

 

 

 

 

 

 

 

 

 

 

 

38

 

Merger and restructuring expenses, net

 

 

 

 

 

 

 

 

 

 

 

48

 

Other expense

 

 

 

 

 

 

 

 

 

 

 

7

 

Loss from continuing operations before income taxes

 

 

 

 

 

 

 

 

 

 

$

(39

)

 

 

(In millions)

 

ODP Business Solutions Division

 

 

Office Depot Division

 

 

Veyer Division

 

 

Total

 

First Quarter of 2024

 

 

 

 

 

 

 

 

 

 

 

 

Sales (external)

 

$

923

 

 

$

937

 

 

$

9

 

 

$

1,869

 

Sales (internal)

 

 

3

 

 

 

7

 

 

 

1,235

 

 

 

1,245

 

Total sales

 

$

926

 

 

$

944

 

 

$

1,244

 

 

$

3,114

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation of revenue

 

 

 

 

 

 

 

 

 

 

 

 

Elimination of intersegment revenues

 

 

 

 

 

 

 

 

 

 

 

(1,245

)

Total consolidated revenues

 

 

 

 

 

 

 

 

 

 

$

1,869

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of goods (and occupancy costs)

 

 

790

 

 

 

701

 

 

 

1,215

 

 

 

 

Selling, general and administrative expenses

 

 

105

 

 

 

193

 

 

 

20

 

 

 

 

Division operating income

 

$

31

 

 

$

50

 

 

$

9

 

 

$

90

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation of segment profit (loss)

 

 

 

 

 

 

 

 

 

 

 

 

Less unallocated amounts:

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

 

 

 

 

 

 

 

 

 

23

 

Asset impairments

 

 

 

 

 

 

 

 

 

 

 

6

 

Merger and restructuring expenses, net

 

 

 

 

 

 

 

 

 

 

 

20

 

Other expense

 

 

 

 

 

 

 

 

 

 

 

2

 

Income from continuing operations before income taxes

 

 

 

 

 

 

 

 

 

 

$

39

 

The following table provides information about assets by each of the Divisions, reconciled to consolidated totals:

(In millions)

 

Balance as of March 29, 2025

 

 

Balance as of December 28, 2024

 

ODP Business Solutions Division

 

$

727

 

 

$

686

 

Office Depot Division

 

 

1,129

 

 

 

1,197

 

Veyer Division

 

 

1,060

 

 

 

1,101

 

Corporate

 

 

551

 

 

 

545

 

Total

 

$

3,467

 

 

$

3,529

 

The following table provides information about depreciation and amortization by each of the Divisions, reconciled to consolidated totals:

 

 

First Quarter

 

(In millions)

 

2025

 

 

2024

 

ODP Business Solutions Division

 

$

5

 

 

$

5

 

Office Depot Division

 

 

10

 

 

 

11

 

Veyer Division

 

 

9

 

 

 

8

 

Corporate

 

 

3

 

 

 

1

 

Total

 

$

27

 

 

$

25

 

 
Summary of Disaggregated Revenue from Major Sales Categories

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

 

 

First Quarter

 

(In millions)

 

2025

 

 

2024

 

Major sales categories

 

 

 

 

 

 

Supplies

 

$

844

 

 

$

929

 

Technology

 

 

474

 

 

 

529

 

Furniture and other

 

 

234

 

 

 

253

 

Copy and print

 

 

147

 

 

158

 

Total

 

$

1,699

 

 

$

1,869

 
Schedule of Goodwill by Segment

The components of goodwill by segment are as follows:

(In millions)

 

Balance as of March 29, 2025

 

 

Balance as of December 28, 2024

 

ODP Business Solutions Division

 

$

157

 

 

$

157

 

Office Depot Division

 

 

219

 

 

 

219

 

Veyer Division

 

 

35

 

 

 

35

 

Total

 

$

411

 

 

$

411