OfficeMax 2015 Annual Report Download - page 62

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Table of Contents


(In millions, except per share amounts)
 2014 2013
Sales  $16,096 $11,242
Cost of goods sold and occupancy costs   12,320 8,616
Gross profit   3,776 2,626
Selling, general and administrative expenses   3,479 2,560
Asset impairments   88 70
Merger, restructuring, and other operating expenses, net   403 201
Legal accrual   81 —
Operating income (loss)   (275) (205)
Other income (expense):
Interest income   24 5
Interest expense   (89) (69)
Gain on disposition of joint venture   — 382
Other income, net   — 14
Income (loss) before income taxes   (340) 127
Income tax expense   12 147
Net income (loss)   (352) (20)
Less: Results attributable to the noncontrolling interests   2 —
Net income (loss) attributable to Office Depot, Inc.   (354) (20)
Preferred stock dividends   — 73
Net income (loss) attributable to common stockholders   $ (354) $ (93)
Basic and diluted earnings (loss) per share   $ (0.66) $ (0.29)
The accompanying notes to consolidated financial statements are an integral part of these statements.
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