OfficeMax 2015 Annual Report Download - page 81
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Table of Contents
Other assets held for sale
Certain facilities identified for closure through integration and other activities have been accounted for as assets held for sale. Assets held for sale primarily
consist of supply chain facilities and are presented in Prepaid expenses and other current assets in the Consolidated Balance Sheets. The assets held for sale
activity in 2015 is presented in the table below.
(In millions)
Balance as of December 27, 2014 $ 31
Additions 67
Dispositions (57)
Reclassifications and other adjustments (11)
Balance as of December 26, 2015 $ 30
Any gain on these dispositions, which are expected to be completed within one year, will be recognized at the Corporate level and included when realized in
Merger, restructuring and other operating expenses, net in the Consolidated Statements of Operations. Refer to Note 3 for further information on Merger,
restructuring and other operating expenses, net, including gains realized related to disposition of held for sale assets.
The components of goodwill by segment are provided in the following table:
(In millions)
Goodwill $ 2 $ 370 $ 909 $ 377 $ 1,658
Accumulated impairment losses (2) (349) (907) — (1,258)
Foreign currency rate impact — — (2) — (2)
Balance as of December 28, 2013 $ — $ 21 $ — $ 377 $ 398
Purchase accounting adjustments — — — 17 17
Sale of Grupo OfficeMax — — — (24) (24)
Allocation to reporting units 78 277 15 (370) —
Balance as of December 27, 2014 $ 78 $ 298 $ 15 $ — $ 391
Purchase accounting adjustments relate to goodwill associated with a 2015 acquisition, as disclosed in Note 2, as well as final adjustments related to prior
acquisitions.
The allocation of the Merger consideration to the reporting units was completed in the third quarter of 2014. As the Company finalized the purchase price
allocation in 2014, certain preliminary values were adjusted as additional information became available. Initial amounts allocated to certain property and
equipment accounts
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