OfficeMax 2014 Annual Report Download - page 121
Download and view the complete annual report
Please find page 121 of the 2014 OfficeMax annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111 -
112 -
113 -
114 -
115 -
116 -
117 -
118 -
119 -
120 -
121 -
122 -
123 -
124 -
125 -
126 -
127 -
128 -
129 -
130 -
131 -
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
 |
 |
Table of Contents
A summary of significant accounts and balances by segment, reconciled to consolidated totals follows.
(In millions)
North
American
Retail
North
American
Business
Solutions International
Corporate,
Eliminations,
and Other*
Consolidated
Total
Sales
2013 4,614 3,580 3,008 40 11,242
2012 4,458 3,215 3,023 — 10,696
Division operating income
2013 8 113 36 — 157
2012 24 110 36 — 170
Capital expenditures
2013 63 24 39 11 137
2012 61 31 25 3 120
Depreciation and amortization
2013 105 51 29 24 209
2012 103 43 34 23 203
Charges for losses on receivables and inventories
2013 38 9 12 — 59
2012 40 6 19 — 65
Net earnings from equity method investments
2013 — — 14 — 14
2012 — — 30 — 30
Assets
2013 1,847 1,573 1,174 2,883 7,477
2012 $1,189 $ 670 `$ 1,312 $ 840 $ 4,011
* Amounts included in “Corporate, Eliminations, and Other” consist of (i) assets (including all cash and cash equivalents) and depreciation related to
corporate activities, (ii) accounts and balances associated with Grupo OfficeMax, and (ii) $377 million of goodwill in December 28, 2013, which was
allocated to reporting units in 2014.
A reconciliation of the measure of Division operating income to Income (loss) before income taxes follows.
(In millions) 2013 2012
Division operating income $ 157 $ 170
Add/(subtract):
Other operating income (loss) (2) —
Recovery of purchase price — 68
Asset impairments (70) (139)
Merger, restructuring, and other operating expenses, net (201) (56)
Legal accrual — —
Unallocated expenses (89) (74)
Interest income 5 2
Interest expense (69) (69)
Loss on extinguishment of debt — (12)
Gain on disposition of joint venture 382 —
Other income (expense), net 14 35
Income (loss) before income taxes $ 127 $ (75)
As of December 27, 2014, the Company sold to customers throughout North America, Europe, and Asia/Pacific. The Company operates through wholly-
owned entities and participates in other ventures and alliances. There is
119