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Table of Contents
the antitrust and competition laws of the European Union and Canada. The Company and Staples have received antitrust clearance for the transaction from
regulators in Australia, New Zealand and China.
On December 7, 2015, the United States Federal Trade Commission (the “FTC”) informed Office Depot and Staples that it intends to block the Staples
Acquisition. On the same date, Office Depot and Staples announced their intent to contest the FTC’s decision to challenge the transaction. Also on
December 7, 2015, the Canadian Competition Bureau filed an application to block the transaction with the Canadian Competition Tribunal. On February 2,
2016, the Company and Staples entered into a letter agreement to waive, until May 16, 2016, certain of their respective rights to terminate the Staples Merger
Agreement.
On February 10, 2016, Staples announced that it has received conditional approval from European Union regulatory authorities to acquire Office Depot and
the parties plan to divest Office Depot’s European businesses in connection with the consummation of the pending acquisition of Office Depot by Staples.
On February 16, 2016, Staples announced an agreement to sell more than $550 million in large corporate contract business and related assets for $22.5
million, contingent upon successful completion of the Staples Acquisition.
Refer to the Company’s Current Report on Form 8-K filed with the SEC on February 4, 2015 (the “Staples Merger Form 8-K”) for additional information on
the transaction. For further information on expenses incurred in 2015 related to the Staples Acquisition, refer to Part II — Item 7. “MD&A” of this Annual
Report.

On November 5, 2013, the Company completed its merger with OfficeMax Incorporated (“OfficeMax”) in an all-stock transaction (the “Merger”). Since the
Merger date, OfficeMax’s financial results have been included in our Consolidated Financial Statements, as discussed herein.
From the Merger date through the end of 2015, significant progress has been made on key integration activities, including the implementation of the
Company’s real estate strategy (the “Real Estate Strategy”) which identified at least 400 retail stores for closure through 2016 along with planned changes to
the supply chain. In the United States, we closed 168 and 181 retail stores in 2014 and 2015, respectively, converted all stores to common point of sale
systems, completed certain warehouse cross-banner consolidations and platform modifications, successfully launched the co-branded website
(www.officedepot.com), combined operating support functions, transitioned certain customers from the OfficeMax to the Office Depot platform, and made
significant progress on identifying customer preferences and developing methods to service their needs. Integration activities will continue in 2016 and
certain supply chain activities are currently anticipated to be substantially completed by the end of 2017.
The remaining discussion of the “Business” section in this Annual Report addresses the way the Company operates currently; however, the integration will
continue to impact many of these processes in future periods.

Office Depot is a global provider of office products and services. Office Depot was incorporated in Delaware in 1986 with the opening of its first retail store in
Fort Lauderdale, Florida.
The Company sells products and services to consumers and businesses of all sizes through three reportable segments (or “Divisions”): North American Retail
Division, North American Business Solutions Division and International Division. Sales for these Divisions are processed through multiple channels,
consisting of office supply stores, a contract sales force, Internet sites, an outbound telephone account management sales force, direct marketing catalogs and
call centers, all supported by a network of supply chain facilities and delivery operations. Office Depot currently operates under the Office Depot and
OfficeMax brands and utilizes other proprietary company and product brand names.
Additional information regarding our Divisions and operations in geographic areas is presented below in Part II — Item 7. “MD&A” and in Note 17,
“Segment Information,” of the Consolidated Financial Statements located in Part IV — Item 15. “Exhibits and Financial Statement Schedules” of this Annual
Report.
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