0001564590-22-006232 | 10-K | XBRL Viewer

248

Less: Current portion

(20)

Discontinued Operations And Disposal Groups [Abstract]

$ 228

$ 354

[1]	Finance lease payments include $1 million related to options to extend lease terms that are reasonably certain of being exercised.

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 25, 2021	Dec. 26, 2020
Statement Of Financial Position [Abstract]
Common stock, authorized	80,000,000	80,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, issued shares	64,704,979	62,551,255
Common stock, shares, outstanding	48,455,951	52,694,062
Treasury stock, shares	16,249,028	9,857,193

Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Leases [Abstract]
Operating cash flows from finance leases	$ 3	$ 4	$ 5
Operating cash flows from operating leases	408	447	473
Financing cash flows from finance leases	22	20	21
Right-of-use assets obtained in exchange for new finance lease liabilities	3	29	27
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 127	$ 117	$ 327

DISCONTINUED OPERATIONS

12 Months Ended

Dec. 25, 2021

DISCONTINUED OPERATIONS

NOTE 17. DISCONTINUED OPERATIONS

In January 2021, the Company’s Board of Directors announced that as a result of a business review of CompuCom, management had initiated a process to explore a value-maximizing sale of the Company’s former CompuCom Division. On June 29, 2021, the Company’s Board of Directors aligned with management’s commitment to a plan to sell CompuCom through a single disposal group. Although management did not bring forth a specific transaction to the Board of Directors at the time, the Company was actively marketing CompuCom for sale at a price that the Company believed was reasonable in relation to CompuCom’s current fair value. CompuCom was available for immediate sale in its present condition and any sale was expected to be subject to customary regulatory approvals. Based on these considerations, and management’s experience and ability to complete similar transactions in the past, management believed the sale was probable and expected to complete it within one year from June 29, 2021. Accordingly, management concluded that the CompuCom disposal group had met the accounting criteria to be classified as held for sale as of June 29, 2021 and is presented as such in the Consolidated Balance Sheets as of December 25, 2021 and December 26, 2020. The planned disposition of CompuCom represented a strategic shift that will have a major impact on the Company’s operations and financial results. Accordingly, the Company also presented the operating results and cash flows of its CompuCom Division as discontinued operations for all periods presented.

The sale of CompuCom was completed on December 31, 2021, and the transaction was structured and will be accounted for as an equity sale. The related Securities Purchase Agreement (“SPA”) provides for consideration consisting of a cash purchase price equal to $125 million (subject to customary adjustments, including for cash, debt and working capital), an interest-bearing promissory note in the amount of $55 million, and a holding fee (“earn-out”) provision providing for payments of up to $125 million in certain circumstances. The promissory note accrues interest at six percent per annum, payable on a quarterly basis in cash or in-kind, and is due in full on June 30, 2027. Under the earn-out provision, if the purchaser receives dividends or sale proceeds from the CompuCom business equal to (i) three (3) times its initial capital investment in the CompuCom business plus (ii) 15% per annum on subsequent capital investments, the Company will be entitled to 50% of any subsequent dividends or sale proceeds up to and until the Company has received an aggregate of $125 million. The Company also agreed to provide certain transitional services to the purchaser for a period of three to twelve months under a separate agreement after closing. The SPA contains customary warranties of the Company and the purchaser.

The loss from classification to held for sale related to CompuCom as of December 25, 2021 was measured at the lower of its carrying amount or estimated fair value less costs to sell and is included in the valuation allowance of the current assets held for sale. The estimated fair value of CompuCom was based on the terms of the SPA, and amounted to $190 million, which included $126 million for cash purchase price after adjusting for cash, debt and working capital, $55 million for the promissory note, and $9 million for the earn-out. The earn-out provision was identified to be a derivative in accordance with ASC 815, and its fair value was determined using Monte Carlo simulation. The resulting loss from classification to held for sale was $170 million in 2021.

Merger and restructuring expenses incurred by the former CompuCom Division, that were previously presented as Corporate expenses, are included in the measurement and presentation of discontinued operations in all periods presented.

The following table represents a reconciliation of the major components of Discontinued operations, net of tax presented in the Consolidated Statements of Operations.

(In millions)	2021			2020			2019
Major components of discontinued operations before income taxes:
Sales	$	802		$	838		$	980
Cost of goods and occupancy costs		645			657			771
Gross profit		157			181			209
Selling, general and administrative expenses		152			171			212
Asset impairments		252			248			—
Merger, restructuring and other operating expenses, net		(2	)		20			30
Operating loss		(245	)		(258	)		(33	)
Other income (expense), net		(1	)		1			—
Loss from major components of discontinued operations before income taxes		(246	)		(257	)		(33	)
Loss from classification to held for sale		(170	)		—			—
Loss from discontinued operations before income taxes		(416	)		(257	)		(33	)
Income tax benefit		(21	)		(1	)		(5	)
Discontinued operations, net of tax	$	(395	)	$	(256	)	$	(28	)

The following table represents the major classes of assets and liabilities of the disposal group classified as held for sale presented in the Consolidated Balance Sheets as of December 25, 2021 and December 26, 2020.

	December 25,			December 26,
(In millions)	2021			2020
Major classes of assets included in discontinued operations:
Cash and cash equivalents	$	23		$	—
Receivables, net		221			189
Inventories		20			14
Prepaid expenses and other current assets		15			16
Total current assets					219
Property and equipment, net		25			26
Operating lease right-of-use assets		66			62
Goodwill		—			214
Other intangible assets, net		255			301
Other assets		14			19
Total noncurrent assets					622
Less: valuation allowance		(170	)
Total assets of the disposal group classified as held for sale	$	469		$	841
Major classes of liabilities included in discontinued operations:
Trade accounts payable	$	83		$	62
Accrued expenses and other current liabilities		86			90
Total current liabilities					152
Deferred income taxes and other long-term liabilities		75			82
Operating lease liabilities		46			56
Total noncurrent liabilities					138
Total liabilities of the disposal group classified as held for sale	$	290		$	290

Revenue Recognition - Additional Information (Detail)	3 Months Ended								12 Months Ended
Revenue Recognition - Additional Information (Detail)	Dec. 25, 2021 USD ($)	Sep. 25, 2021 USD ($)	Jun. 26, 2021 USD ($)	Mar. 27, 2021 USD ($)	Dec. 26, 2020 USD ($)	Sep. 26, 2020 USD ($)	Jun. 27, 2020 USD ($)	Mar. 28, 2020 USD ($)	Dec. 25, 2021 USD ($) Segment	Dec. 26, 2020 USD ($)	Dec. 28, 2019 USD ($)
Revenue From Contract With Customer [Line Items]
Number of reportable segments \| Segment									2
Short-term contract liabilities	$ 52,000,000				$ 50,000,000				$ 52,000,000	$ 50,000,000
Recognition of contract assets as a result of business combination									0	0
Revenue recognition included in short-term contract liabilities									24,000,000	20,000,000
Recognition of contract liabilities as a result of business combination									0	0
Significant adjustment to revenue from performance obligations									0	0
Contract with customer, asset, reclassified to receivable									0	0
Short-term contract assets	16,000,000				15,000,000				16,000,000	15,000,000
Long-term contract assets	8,000,000				15,000,000				8,000,000	15,000,000
Long-term contract liabilities	2,000,000				4,000,000				2,000,000	4,000,000
Capitalized contract cost, amortization									24,000,000	29,000,000	$ 34,000,000
Impairment charges related to contract assets	2,000,000	$ 5,000,000	$ 1,000,000	$ 12,000,000	8,000,000	$ 10,000,000	$ 153,000,000	$ 12,000,000	20,000,000	182,000,000	$ 56,000,000
Contract Assets
Revenue From Contract With Customer [Line Items]
Impairment charges related to contract assets									0	0
CompuCom Division
Revenue From Contract With Customer [Line Items]
Short-term contract liabilities	10,000,000				9,000,000				10,000,000	9,000,000
Short-term contract assets	1,000,000				1,000,000				1,000,000	1,000,000
Long-term contract assets	2,000,000				2,000,000				2,000,000	2,000,000
Long-term contract liabilities	2,000,000				4,000,000				2,000,000	4,000,000
Accrued Expenses and Other Current Liabilities
Revenue From Contract With Customer [Line Items]
Short-term contract liabilities	$ 12,000,000				$ 12,000,000				$ 12,000,000	$ 12,000,000
Sales Revenue, Net \| Product Concentration Risk \| Maximum
Revenue From Contract With Customer [Line Items]
Service revenue, percent									10.00%

Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 88	$ 101	$ 110
Capitalized software costs, Gross	699	671
Capitalized software costs, Net	115	121
Amortization of capitalized software costs	$ 49	$ 50	$ 49
Capitalized Software
Property, Plant and Equipment [Line Items]
Weighted average remaining amortization period	4 years

Fair Value of Pension Plan Assets (Detail) - Pension Benefits - North America - USD ($) $ in Millions	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Defined Benefit Plan Plan Assets Category [Line Items]
Fair value of plan assets	$ 836	$ 894	$ 833
Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Plan Assets Category [Line Items]
Fair value of plan assets	830	888
Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Plan Assets Category [Line Items]
Fair value of plan assets	6	6
U.S. Small And Mid-Cap Equity Securities \| Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Plan Assets Category [Line Items]
Fair value of plan assets	7	22
U.S. Large Cap Equity Securities \| Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Plan Assets Category [Line Items]
Fair value of plan assets	29	94
International Equity Securities \| Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Plan Assets Category [Line Items]
Fair value of plan assets	42	133
Corporate Bonds \| Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Plan Assets Category [Line Items]
Fair value of plan assets	485	409
Government Securities \| Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Plan Assets Category [Line Items]
Fair value of plan assets	245	214
Other Fixed Income \| Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Plan Assets Category [Line Items]
Fair value of plan assets	4	3
Cash
Defined Benefit Plan Plan Assets Category [Line Items]
Fair value of plan assets	6	6
Cash \| Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Plan Assets Category [Line Items]
Fair value of plan assets	18	13
Cash \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Plan Assets Category [Line Items]
Fair value of plan assets	6	6
Common Collective Trust Funds \| Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Plan Assets Category [Line Items]
Fair value of plan assets	$ 830	$ 888

Other Changes In Plan Assets and Benefit Obligations Recognized In Other Comprehensive Loss (Income) (Detail) - North America - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Accumulated other comprehensive loss (income) at beginning of year	$ (21)	$ 9	$ 35
Net loss (gain)	(25)	(30)	(26)
Accumulated other comprehensive loss (income) at end of year	(46)	(21)	9
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Accumulated other comprehensive loss (income) at beginning of year	1		(1)
Net loss (gain)	$ (1)	1	$ 1
Accumulated other comprehensive loss (income) at end of year		$ 1

Supplemental Balance Sheets Information Related to Leases (Detail) - USD ($)
$ in Millions

Dec. 25, 2021

Dec. 26, 2020

Finance lease right-of-use assets

$ 39

$ 59

Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]

Property and equipment, net

Operating lease right-of-use assets

$ 936

$ 1,107

Operating Leases liability, Current

$ 304

^[1]

$ 334

Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]

us-gaap:AccruedLiabilitiesAndOtherLiabilities

^[1]

us-gaap:AccruedLiabilitiesAndOtherLiabilities

Finance Leases, Current

$ 17

^[2]

$ 21

Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]

us-gaap:ShortTermBorrowings

^[2]

us-gaap:ShortTermBorrowings

Finance Leases, Non-current

$ 35

^[2]

$ 57

Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]

us-gaap:LongTermDebtNoncurrent

^[2]

us-gaap:LongTermDebtNoncurrent

Operating lease liabilities

$ 753

^[1]

$ 935

Weighted-average remaining lease term – finance leases

4 years

5 years

Weighted-average remaining lease term – operating leases

5 years

Weighted-average discount rate – finance leases

5.00%

5.40%

Weighted-average discount rate – operating leases

5.80%

6.40%

[1]	Operating lease payments include $77 million related to options to extend lease terms that are reasonably certain of being exercised.
[2]	Finance lease payments include $1 million related to options to extend lease terms that are reasonably certain of being exercised.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 25, 2021

Accounting Policies [Abstract]

Nature of Business

Nature of Business: The ODP Corporation including its consolidated subsidiaries (“ODP” or the “Company”), is a leading provider of business services and supplies, products and digital workspace technology solutions to small, medium-sized and enterprise businesses. The Company operates through its direct and indirect subsidiaries and maintains a fully integrated business-to-business (“B2B”) distribution platform of thousands of dedicated sales and technology service professionals, online presence and 1,038 retail stores. Through its banner brands Office Depot®, OfficeMax®, and Grand & Toy®, as well as others, the Company offers its customers the tools and resources they need to focus on starting, growing and running their business. The Company’s corporate headquarters is located in Boca Raton, FL, and its primary website is www.officedepot.com.

Basis of Presentation

Basis of Presentation: The Consolidated Financial Statements of ODP include the accounts of all wholly owned and financially controlled subsidiaries prior to disposition. The Company owns 88% of a subsidiary that formerly owned assets in Cuba, which were confiscated by the Cuban government in the 1960’s. Due to various asset restrictions, the fair value of this investment is not determinable, and no amounts are included in the Consolidated Financial Statements. Intercompany transactions have been eliminated in consolidation.

At December 25, 2021, the Company had two reportable segments (or “Divisions”): Business Solutions Division and Retail Division. During the third quarter of 2021, the Company’s Board of Directors provided their alignment with management’s commitment to a plan to sell its CompuCom Division through a single disposal group. Accordingly, that business is presented herein as discontinued operations. The Company has reclassified the financial results of the CompuCom Division to Discontinued operations, net of tax in the Consolidated Statements of Operations for all periods presented. The Company also reclassified the related assets and liabilities as assets and liabilities held for sale on the accompanying Consolidated Balance Sheets. Cash flows from the Company’s discontinued operations are presented in the Consolidated Statements of Cash Flows for all periods. The sale of the CompuCom Division was completed on December 31, 2021. Refer to Note 17 for additional information.

As a result of the CompuCom Division’s presentation as discontinued operations, the Company’s level of service revenue is below 10% of the Company’s total revenue for all periods presented and accordingly, revenues and cost of sales from services and products are not separately disclosed in the Company’s Consolidated Statements of Operations. Prior period amounts have been reclassified to conform to the current period presentation.

After obtaining approval of the Company’s shareholders on May 11, 2020, the Company’s Board of Directors determined to set a reverse stock split ratio of 1-for-10 for a reverse stock split of the Company’s outstanding shares of common stock, and a reduction in the number of authorized shares of the Company’s common stock by a corresponding ratio. The reverse stock split was effective on June 30, 2020. All share and per share amounts in the Company’s Consolidated Financial Statements and notes thereto have been retroactively adjusted for the prior periods presented to give effect to this reverse stock split.

Delay of Planned Separation of Consumer Business

Delay of Planned Separation of Consumer Business: As previously announced, in May 2021, the Company’s Board of Directors unanimously approved a plan to pursue a separation of the Company into two independent, publicly traded companies. When the plan was announced, the Company expected to structure it as a tax-free spin-off of the Company’s B2B related operations. Following further review, the Company determined that it should utilize the flexibility created by the holding company reorganization in 2020 to structure the separation as a tax-free spin-off of the Company’s consumer business, with the Company retaining its B2B related operations (the “Separation”), as further described below. The Company believes that this modified approach will be more efficient considering that it is expected that the majority of the Company’s current management team and Directors will remain with the B2B business which will continue to be owned by “The ODP Corporation.” Each company is expected to have a unique and highly focused strategy and investment profile, as follows:

•

ODP – a leading B2B solutions provider serving small, medium and enterprise level companies, will consist of several operating companies, including the contract sales channel of ODP’s current Business Solutions Division, which will be renamed ODP Business Solutions, and ODP’s newly formed B2B digital platform technology business, which has been named Varis. ODP Business Solutions and Varis will be owned by ODP, but operated as separate businesses. ODP will also continue to own the global sourcing operations and other sourcing, supply chain and logistics assets. Gerry Smith will continue to serve as CEO of The ODP Corporation following the separation; and

•

Office Depot – an Office Depot branded leading provider of retail consumer and small business products and services distributed via approximately 1,000 Office Depot and OfficeMax retail locations and an eCommerce presence, officedepot.com. Kevin Moffitt, currently EVP, Chief Retail Officer of The ODP Corporation, will be appointed CEO of Office Depot upon completion of the spin-off.

The Separation is expected to allow ODP and Office Depot to pursue market opportunities and separate growth strategies, and improve value for shareholders and stakeholders. While ODP and Office Depot will be separate, independent companies, they will share commercial agreements that will allow them to continue to leverage scale benefits in such areas as product sourcing and supply chain. The Separation is expected to occur through a tax-free stock dividend of shares of Office Depot to ODP’s shareholders as of a record date to be determined by the Company’s Board of Directors, after which ODP shareholders will own 100% of the equity in both of the publicly traded companies.

The Separation was intended to be completed in the middle of 2022, subject to customary conditions, including final approval by the Company’s Board of Directors, opinions from tax counsel and a favorable ruling by the IRS on the tax-free nature of the transaction to the Company and to its shareholders, the filing and effectiveness of a registration statement with the U.S. Securities and Exchange Commission, the approved listing of Office Depot’s common stock on a national securities exchange and the completion of any necessary financings.

In December 2021, the Company received a non-binding proposal from a third party other than USR Parent, Inc. to acquire our consumer business. The terms of that proposal are confidential. The Company’s Board of Directors is carefully reviewing this proposal as well as the proposal from USR Parent, Inc., which is discussed in Note 3, with the assistance of its financial and legal advisors to determine the course of action that it believes is in the best interests of the Company and its shareholders. As a result, the Company has determined to delay further work on the Separation in order to avoid incurring potentially unnecessary separation costs while it focuses on a potential sale of its consumer business. There can be no assurance that a sale of the consumer business will take place and, if it were to take place, as to the terms of such a sale. There can also be no assurances regarding the ultimate timing of the Separation or that an alternative transaction will be completed.

The Company incurred $32 million in third-party professional fees associated with the Separation in 2021. If the Separation is completed, the Company expects to incur significant costs in connection with the Separation, which are expected to relate primarily to third-party professional fees, retention payments to certain employees, and other costs directly related to the Separation. The Company currently estimates that costs to execute the Separation, if completed, will exceed $100 million, although such estimate is subject to a number of assumptions and uncertainties. The Company also expect to incur significant costs associated with exploring the potential sale of its consumer business, which are expected to relate primarily to third-party professional fees, including legal fees.

Fiscal Year

Fiscal Year: Fiscal years are based on a 52- or 53-week period ending on the last Saturday in December. All years presented in the Consolidated Financial Statements consisted of 52 weeks. Certain subsidiaries operate on a calendar year basis; however, the reporting difference did not have a material impact in any period presented.

Estimates and Assumptions

Estimates and Assumptions: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Estimates and assumptions are based upon historical factors, current circumstances and the experience and judgment of the Company’s management. The impact of the COVID-19 pandemic has been considered when making these estimates and assumptions, however, given the uncertainty related to the future effects of COVID-19, actual results could differ from these estimates.

Business Combinations

Business Combinations: The Company applies the acquisition method of accounting for acquisitions where the Company is considered the accounting acquirer in accordance with ASC Topic 805, “Business Combinations” (“ASC 805”). The results of operations of acquired businesses are included in the Company’s consolidated results prospectively from the date of acquisition. The Company allocates the fair value of purchase consideration to the tangible and intangible assets acquired, liabilities assumed, and non-controlling interests in the acquired entity generally based on their fair values at the acquisition date. Various valuation methodologies are used to estimate the fair value of assets acquired and liabilities assumed, including using a market participant perspective when applying cost, income and relief from royalty analyses, supplemented with market appraisals where appropriate. Significant judgments and estimates are required in preparing these fair value estimates. The excess of the fair value of purchase consideration over the fair value of the assets acquired, liabilities assumed and non-controlling interests in the acquired entity is recorded as goodwill. The primary items that generate goodwill include the value of the synergies between the acquired company and the Company and the value of the acquired assembled workforce, neither of which qualifies for recognition as an intangible asset. Acquisition-related expenses and post-acquisition restructuring costs are recognized separately from the business combination and are expensed as incurred. Refer to Note 2 for additional information.

Foreign Currency

Foreign Currency: International operations in Canada and China use local currencies as their functional currency. Assets and liabilities are translated into U.S. dollars using the exchange rate at the balance sheet date. Revenues, expenses and cash flows are

translated at average monthly exchange rates, or rates on the date of the transaction for certain significant items. Translation adjustments resulting from this process are recorded in Stockholders’ equity as a component of Accumulated other comprehensive loss. Foreign currency transaction gains or losses are recorded in the Consolidated Statements of Operations in Other income (expense), net or Cost of goods sold and occupancy costs, depending on the nature of the transaction.

Cash and Cash Equivalents

Cash and Cash Equivalents: All short-term highly liquid investments with original maturities of three months or less from the date of acquisition are classified as cash equivalents. Amounts in transit from banks for customer credit card and debit card transactions are classified as cash. The banks process the majority of these amounts within two business days.

There were no amounts not yet presented for payment to zero balance disbursement accounts at December 25, 2021. At December 26, 2020, $20 million is presented in Trade accounts payable and Accrued expenses and other current liabilities, and $1 million and $3 million at December 25, 2021, and December 26, 2020, respectively, are presented in Current liabilities held for sale.

At December 25, 2021 and December 26, 2020, cash and cash equivalents held outside the United States amounted to $108 million and $159 million, respectively. At December 25, 2021, there was $17 million cash and cash equivalents held outside the United states included in Current assets held for sale.

Receivables

Receivables: Trade receivables totaled $353 million and $325 million at December 25, 2021 and December 26, 2020, respectively, net of an allowance for doubtful accounts of $9 million and $10 million, respectively, to reduce receivables to an amount expected to be collectible from customers.

Exposure to credit risk associated with trade receivables is limited by having a large customer base that extends across many different industries and geographic regions. However, receivables may be adversely affected by an economic slowdown in the United States or internationally, as well as the impact of the COVID-19 pandemic on the expected credit and collectability trends. No single customer accounted for more than 10% of total sales or receivables in 2021, 2020 or 2019. Other receivables were $143 million and $117 million at December 25, 2021 and December 26, 2020, respectively, of which $104 million and $94 million, respectively, are amounts due from vendors under purchase rebate, cooperative advertising and various other marketing programs.

Inventories

Inventories: Inventories are stated at the lower of cost or net realizable value and are reduced for inventory losses based on estimated obsolescence, the impact of the COVID-19 pandemic on forecasted sales and expected selling prices, and the results of physical counts. The weighted average method is used throughout the Company to determine the cost of inventory. In-bound freight is included as a cost of inventories; cash discounts and certain vendor allowances that are related to inventory purchases are recorded as a product cost reduction.

Income Taxes

Income Taxes: Income taxes are accounted for under the asset and liability method. This approach requires the recognition of deferred tax assets and liabilities attributable to differences between the carrying amounts and the tax bases of assets and liabilities and operating loss and tax credit carryforwards. Valuation allowances are recorded to reduce deferred tax assets to the amount believed to be more likely than not to be realized. The Company recognizes tax benefits from uncertain tax positions when it is more likely than not that the position will be sustained upon examination. Interest related to income tax exposures is included in interest expense in the Consolidated Statements of Operations. Refer to Note 6 for additional information on income taxes.

Property and Equipment

Property and Equipment: Property and equipment additions are recorded at cost. Depreciation and amortization is recognized over the estimated useful lives using the straight-line method. The useful lives of depreciable assets are estimated to be 15-30 years for buildings and 3-10 years for furniture, fixtures and equipment. Computer software is amortized over three years for common office applications, five years for larger business applications and seven years for certain enterprise-wide systems. Leasehold improvements are amortized over the shorter of the estimated economic lives of the improvements or the terms of the underlying leases, including renewal options considered reasonably assured. The Company capitalizes certain costs related to internal use software that is expected to benefit future periods. These costs are amortized using the straight-line method over the 3 to 7 year expected life of the software. Major repairs that extend the useful lives of assets are capitalized and amortized over the estimated use period. Routine maintenance costs are expensed as incurred. Refer to Note 8 for additional information on property and equipment.

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets: Goodwill represents the excess of the purchase price of an acquired entity over the fair value of the net tangible and identifiable intangible assets acquired and liabilities assumed in a business combination. The Company reviews the carrying amount of goodwill at the reporting unit level on an annual basis as of the first day of fiscal month December, or more frequently, if events or changes in circumstances suggest that goodwill may not be recoverable. For those reporting units where events

or change in circumstances indicate that potential impairment indicators exist, the Company performs a quantitative assessment to determine whether the carrying amount of goodwill can be recovered. A significant amount of judgment is involved in determining if an indicator of impairment has occurred.

When performing the annual goodwill impairment test, the Company may start with an optional qualitative assessment. As part of the qualitative assessment, the Company evaluates all events and circumstances, including both positive and negative events, in their totality, to determine whether it is not more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company bypasses the qualitative assessment, or if the qualitative assessment indicates that a quantitative analysis should be performed, the Company evaluates goodwill for impairment by comparing the fair value of a reporting unit to its carrying value, including the associated goodwill. The Company estimates the reporting unit’s fair value using discounted cash flow analysis and market-based evaluations, when available. If the carrying amount of the reporting unit exceeds the estimated fair value, an impairment charge is recorded to reduce the carrying value to the estimated fair value. The Company typically uses a combination of different Level 3 valuation approaches that are dependent on several significant estimates and assumptions related to forecasts of future revenues, cost of sales, expenses and the weighted-average cost of capital for each reporting unit. Any adverse change in these factors could have a significant impact on the recoverability of goodwill and could have a material impact on the Company’s Consolidated Financial Statements.

An intangible asset with an indefinite useful life is not amortized but assessed for impairment annually. The Company evaluates its indefinite-lived intangible assets for impairment annually, or sooner if indications of possible impairment are identified. When performing the annual impairment test, the Company may first start with an optional qualitative assessment to determine whether it is not more likely than not that its indefinite-lived intangible assets are impaired. As part of a qualitative assessment, the Company evaluates relevant events and circumstances that could affect the significant inputs used to determine the fair value of the indefinite-lived intangible asset. If the Company bypasses the qualitative assessment, or if the qualitative assessment indicates that a quantitative analysis should be performed, the Company evaluates its indefinite-lived intangible assets for impairment by comparing the fair value of the asset to its carrying amount.

Intangible assets determined to have finite lives are amortized on a straight-line basis over their estimated useful lives, where the useful life is the period over which the asset is expected to contribute directly, or indirectly, to the Company’s future cash flows. The Company periodically reviews its amortizable intangible assets to determine whether events and circumstances warrant a revision to the remaining period of amortization or asset impairment.

Refer to Note 9 for additional information on goodwill and other intangible assets.

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets: Long-lived assets with identifiable cash flows are reviewed for possible impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Retail store long-lived assets are regularly reviewed for impairment indicators. Impairment is assessed at the individual store level which is the lowest level of identifiable cash flows and considers the estimated undiscounted cash flows over the asset’s remaining life. If estimated undiscounted cash flows are insufficient to recover the investment, an impairment loss is recognized equal to the difference between the estimated fair value of the asset and its carrying value, net of salvage, and any costs of disposition, and allocated to the asset groups at the store level based on their relative fair values. The fair value estimate is generally the discounted amount of estimated store-specific cash flows.

Facility Closure and Severance Costs

Facility Closure and Severance Costs: Retail store performance is regularly reviewed against expectations and retail stores not meeting performance requirements may be closed. Retail stores are also closed as part of restructuring activities which aim to optimize the Company’s retail footprint. Refer to Note 3 for additional information on the restructuring programs and associated store closures. Costs associated with facility closures, principally accrued lease costs, are recognized when the facility is no longer used in an operating capacity or when a liability has been incurred. Retail store assets, including operating lease right-of-use (“ROU”) assets, are also reviewed for possible impairment, or reduction of estimated useful lives.

The Company recognizes charges or credits to adjust remaining closed facility accruals to reflect current expectations. Adjustments to facility closure costs are presented in the Consolidated Statements of Operations in Selling, general and administrative expenses if the related facility was closed as part of ongoing operations or in Merger, restructuring and other operating expenses, net, if the related facility was closed as part of a merger integration plan or restructuring plan. Refer to Note 3 for additional information on accrued expenses relating to closed facilities. The short-term and long-term components of this liability are included in Accrued expenses and other current liabilities and Deferred income taxes and other long-term liabilities, respectively, in the Consolidated Balance Sheets. Employee termination costs covered under written and substantive plans are accrued when probable and estimable and consider continuing service requirements, if any. Additionally, incremental one-time employee benefit costs are recognized when the key terms

of the arrangements have been communicated to affected employees. Amounts are recognized when communicated or over the remaining service period, based on the terms of the arrangements.

Accrued Expenses and Other Current Liabilities

Accrued Expenses and Other Current Liabilities: The major components of Accrued expenses and other current liabilities in the Consolidated Balance Sheets are tax liabilities, payroll and benefit accruals, customer rebates accruals, inventory receipts accruals and current portion of operating lease liabilities. Accrued payroll and benefits were $148 million and $120 million at December 25, 2021 and December 26, 2020, respectively.

Fair Value of Financial Instruments

Fair Value of Financial Instruments: The Company measures fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In developing its fair value estimates, the Company uses the following hierarchy:

Level 1

Quoted prices in active markets for identical assets or liabilities.

Level 2

Observable market-based inputs or unobservable inputs that are corroborated by market data.

Level 3

Significant unobservable inputs that are not corroborated by market data. Generally, these fair value measures are model-based valuation techniques such as discounted cash flows or option pricing models using own estimates and assumptions or those expected to be used by market participants.

The fair values of cash and cash equivalents, receivables, trade accounts payable and accrued expenses and other current liabilities approximate their carrying values because of their short-term nature. Refer to Note 15 for further fair value information.

Revenue Recognition

Revenue Recognition: Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those products or services. For product sales, transfer of control occurs at a point in time, typically upon delivery to the customer. For service offerings, the transfer of control and satisfaction of the performance obligation is either over time or at a point in time. When performance obligations are satisfied over time, the Company evaluates the pattern of delivery and progress each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition. Revenue is recognized net of allowance for returns and net of any taxes collected from customers, which are subsequently remitted to governmental authorities. Shipping and handling fees are included in Sales in the Consolidated Statements of Operations. Shipping and handling costs are considered fulfillment activities and are included in Cost of goods sold and occupancy costs in the Consolidated Statements of Operations. The Company recognizes sales, other than third-party software sales, on a gross basis when it is considered the primary obligor in the transaction and on a net basis when it is considered to be acting as an agent. The Company recognizes sales of third-party software on a net basis. The Company uses judgment in estimating sales returns, considering numerous factors such as historical sales return rates. The Company also records reductions to revenue for customer programs and incentive offerings including special pricing agreements, certain promotions and other volume-based incentives.

A liability for future performance is recognized when gift cards are sold and the related revenue is recognized when gift cards are redeemed as payment for products or when the likelihood of gift card redemption is considered remote. Gift cards do not have an expiration date. The Company recognizes the estimated portion of the gift card program liability that will not be redeemed, or the breakage amount, in proportion to usage.

REVENUE

As a result of the CompuCom Division’s presentation as discontinued operations, the Company’s level of service revenue is below 10% of the Company’s total revenue for all periods presented and accordingly, revenues and cost of sales from services and products are not separately disclosed in the Company’s Consolidated Statements of Operations. The Company updated its major revenue categories disclosed herein according to this presentation and period amounts have been reclassified to conform to the current period presentation.

The following table provides information about disaggregated revenue from continuing operations by Division, and major revenue categories.

	2021
(In millions)	Business Solutions Division		Retail Division		Other		Total
Major revenue categories
Supplies	$	2,423	$	1,382	$	10	$	3,815
Technology		1,165		1,586		7		2,758
Furniture and other		757		531		14		1,302
Copy and print		252		338		—		590
Total	$	4,597	$	3,837	$	31	$	8,465

	2020
(In millions)	Business Solutions Division		Retail Division		Other		Total
Major revenue categories
Supplies	$	2,545	$	1,449	$	12	$	4,006
Technology		1,195		1,816		3		3,014
Furniture and other		695		579		7		1,281
Copy and print		248		323		—		571
Total	$	4,683	$	4,167	$	22	$	8,872

	2019
(In millions)	Business Solutions Division		Retail Division		Other		Total
Major revenue categories
Supplies	$	3,001	$	1,743	$	16	$	4,760
Technology		1,238		1,749		2		2,989
Furniture and other		756		454		7		1,217
Copy and print		284		417		—		701
Total	$	5,279	$	4,363	$	25	$	9,667

Revenue includes the sale of:

•

Supplies such as paper, writing instruments, office supplies, cleaning and breakroom items, personal protective equipment, and product subscriptions;

•

Technology related products such as toner and ink, printers, computers, tablets and accessories, electronic storage, and sales of third-party software, as well as technology support services offerings provided in the Company’s retail stores, such as installation and repair;

•

Furniture and other products such as desks, seating, luggage, gift cards and warranties; and

•

Copy and print services, including managed print and fulfillment services.

The Company sells its supplies, furniture and other products through its Business Solutions and Retail Divisions. Customers can purchase products through the Company’s call centers, electronically through its Internet websites, or through its retail stores. Revenues from supplies, technology, and furniture and other product sales are recognized when the customer obtains control of the Company’s product, which occurs at a point in time, typically upon delivery to the customer.

Furniture and other products also include arrangements where customers can make special furniture interior design and installation orders that are customized to their needs. The performance obligations related to these arrangements are satisfied over time.

Substantially all of the Company’s copy and print and technology support services offerings are satisfied at a point in time and revenue is recognized as such. The majority of copy and print offerings, which includes printing, copying, and digital imaging, are fulfilled through retail stores and the related performance obligations are satisfied within a short period of time (generally within the same day).

Cost of Goods Sold and Occupancy Costs

Cost of Goods Sold and Occupancy Costs: Cost of goods sold and occupancy costs include:

inventory costs (as discussed above);

outbound freight;

employee and non-employee receiving, distribution, and occupancy costs (rent), including depreciation, real estate taxes and common area costs, of inventory-holding and selling locations; and

identifiable employee-related costs associated with services provided to customers.

Selling, General and Administrative Expenses

Selling, General and Administrative Expenses: Selling, general and administrative expenses include amounts incurred related to expenses of operating and support functions, including:

employee payroll and benefits, including variable pay arrangements;

advertising;

store and field support;

executive management and various staff functions, such as information technology, human resources functions, finance, legal, internal audit, and certain merchandising and product development functions;

other operating costs incurred relating to selling activities; and

closed defined benefit pension and postretirement plans.

Selling, general and administrative expenses are included in the determination of Division operating income to the extent those costs are considered to be directly or closely related to segment activity and through allocation of support costs.

Merger, Restructuring and Other Operating Expenses, Net

Merger, restructuring and other operating expenses, net: Merger, restructuring and other operating expenses, net in the Consolidated Statements of Operations includes charges and, where applicable, credits for costs such as acquisition related expenses, employee termination and retention, transaction and integration-related professional fees, facility closure costs, gains and losses on asset dispositions, and other incremental costs directly related to these activities.

This presentation is used to separately identify these significant costs apart from expenses incurred to sell to and service the Company’s customers or that are more directly related to ongoing operations. Changes in estimates and accruals related to these activities are also reflected on this line. Merger, restructuring and other operating expenses, net are not included in the measure of Division operating income. Refer to Note 3 for additional information.

Advertising

Advertising: Advertising expenses are charged to Selling, general and administrative expenses when incurred. Advertising expenses recognized were $139 million in 2021, $177 million in 2020 and $245 million in 2019. Prepaid advertising expenses were $4 million as of December 25, 2021 and $3 million as of December 26, 2020.

Share-Based Compensation

Share-Based Compensation: Compensation expense for all share-based awards expected to vest is measured at fair value on the date of grant and recognized on a straight-line basis over the related service period. The fair value of restricted stock and restricted stock units, including performance-based awards, is determined based on the Company’s stock price on the date of grant. Share-based awards with market conditions, such as total shareholder return, are valued using a Monte Carlo simulation as measured on the grant date. Share-based awards that are settled in cash are classified as liabilities and are measured to fair value at each reporting date.

Self-insurance

Self-insurance: ODP is primarily self-insured for workers’ compensation, auto and general liability and employee medical insurance programs. The Company has stop-loss coverage to limit the exposure arising from these claims. Self-insurance liabilities are based on claims filed and estimates of claims incurred but not reported. These liabilities are not discounted.

Vendor Arrangements

Vendor Arrangements: The Company enters into arrangements with substantially all significant vendors that provide for some form of consideration to be received from the vendors. Arrangements vary, but some specify volume rebate thresholds, advertising support levels, as well as terms for payment and other administrative matters. The volume-based rebates, supported by a vendor agreement, are estimated throughout the year and reduce the cost of inventory and cost of goods sold during the year. This estimate is regularly monitored and adjusted for current or anticipated changes in purchase levels and for sales activity. Other promotional consideration received is event-based or represents general support and is recognized as a reduction of Cost of goods sold and occupancy costs or Inventories, as appropriate, based on the type of promotion and the agreement with the vendor. Certain arrangements meet the specific, incremental, identifiable criteria that allow for direct operating expense offset, but such arrangements are not significant.

Pension and Other Postretirement Benefits

Pension and Other Postretirement Benefits: The Company sponsors certain closed U.S. and U.K. defined benefit pension plans, certain closed U.S. retiree medical benefit and life insurance plans, as well as a Canadian retiree medical benefit plan open to certain employees.

The Company recognizes the funded status of its defined benefit pension, retiree medical benefit and life insurance plans in the Consolidated Balance Sheets, with changes in the funded status recognized primarily through accumulated other comprehensive income (loss), net of tax, in the year in which the changes occur. Actuarially-determined liabilities related to pension and postretirement benefits are recorded based on estimates and assumptions. Factors used in developing estimates of these liabilities include assumptions related to discount rates, rates of return on investments, healthcare cost trends, benefit payment patterns and other factors. The Company also updates periodically its assumptions about employee retirement factors, mortality, and turnover. Refer to Note 14 for additional details.

Environmental and Asbestos Matters

Environmental and Asbestos Matters: Environmental and asbestos liabilities relate to acquired legacy paper and forest products businesses and timberland assets. The Company accrues for losses associated with these obligations when probable and reasonably estimable. These liabilities are not discounted. A receivable for insurance recoveries is recorded when probable.

Leasing Arrangements

Leasing Arrangements: The Company conducts a substantial portion of its business in leased properties. The Company first determines whether an arrangement is a lease at inception. Once that determination is made, leasing arrangements are presented in the Consolidated Balance Sheet as follows:

•

Finance leases:

Property and equipment, net –leases which were referred to as capital leases under the old accounting standard;

Short-term borrowings and current maturities of long-term debt – short-term obligations to make lease payments arising from the finance lease; and

Long-term debt, net of current maturities – long-term obligations to make lease payments arising from the finance lease.

•

Operating leases:

ROU assets – the Company’s right to use the underlying asset for the lease term;

Accrued expenses and other current liabilities – short-term obligations to make lease payments arising from the operating lease; and

Operating lease liabilities – long-term obligations to make lease payments arising from the operating lease.

Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of the future minimum lease payments over the lease term. As the rate implicit in the lease is not readily determinable for any of the leases, the Company has utilized its incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The determination of the appropriate incremental borrowing rate requires management to use significant estimates and assumptions as to its credit rating, base rates and credit spread, and other management assumptions for the impact of collateral. The operating lease ROU asset also includes any lease payments made prior to commencement and excludes lease incentives and initial direct costs incurred. Certain leases include one or more options to renew, with renewal terms that can extend the lease from five to 25 years or more, which is generally at the Company’s discretion. Any option or renewal periods management believed were reasonably certain of being exercised are included in the lease term, and are used in calculating the operating lease ROU assets and lease liabilities. In addition, some of the Company’s leases contain escalation clauses. The Company recognizes rental expense for operating leases that contain predetermined fixed escalation clauses on a straight-line basis over the expected term of the lease.

The Company has lease agreements with lease and non-lease components, for which it has made an accounting policy election to account for these as a single lease component.

New Accounting Standards

NEW ACCOUNTING STANDARDS

Standards that were adopted:

Defined benefit plan: In August 2018, the Financial Accounting Standards Board (the “FASB”) issued an accounting standard update that modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The Company adopted this accounting standards update on the first day of the first quarter of 2021 with no material impact on its Consolidated Financial Statements.

Income Taxes: In December 2019, the FASB issued an accounting standards update that simplifies the accounting for income taxes by eliminating certain exceptions to the guidance related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The accounting standards update also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The Company adopted this accounting standards update on the first day of the first quarter of 2021 with no material impact on its Consolidated Financial Statements.

Revenue Recognition and Significant Judgments

REVENUE RECOGNITION AND SIGNIFICANT JUDGMENTS

Revenue is recognized upon transfer of control of promised products or services to customers for an amount that reflects the consideration the Company is entitled to receive in exchange for those products or services. For product sales, transfer of control occurs at a point in time, typically upon delivery to the customer. For service offerings, the transfer of control and satisfaction of the performance obligation is either over time or at a point in time. When performance obligations are satisfied over time, the Company evaluates the pattern of delivery and progress each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition. Revenue is recognized net of allowance for returns and net of any taxes collected from customers, which are subsequently remitted to governmental authorities. Shipping and handling costs are considered fulfillment activities and are recognized within the Company’s cost of goods sold.

Contracts with customers could include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. Determining the standalone selling price also requires judgment. The Company did not have significant revenues generated from such contracts in 2021, 2020 and 2019.

Products are generally sold with a right of return and the Company may provide other incentives, such as rebates and coupons, which are accounted for as variable consideration when estimating the amount of revenue to recognize. The Company estimates returns and incentives at contract inception and includes the amount in the transaction price for which significant reversal is not probable. These estimates are updated at the end of each reporting period as additional information becomes available.

The Company offers a customer loyalty program that provides customers with rewards that can be applied to future purchases or other incentives. Loyalty rewards are accounted for as a separate performance obligation and deferred revenue is recorded in the amount of the transaction price allocated to the rewards, inclusive of the impact of estimated breakage. The estimated breakage of loyalty rewards is based on historical redemption rates experienced under the loyalty program. Revenue is recognized when the loyalty rewards are redeemed or expire. As of both December 25, 2021 and December 26, 2020, the Company had $12 million of deferred revenue related to the loyalty program, which is included in Accrued expenses and other current liabilities in the Consolidated Balance Sheets.

The Company recognizes revenue in certain circumstances before product delivery occurs (commonly referred to as bill-and-hold transactions). Revenue from bill-and-hold transactions is recognized when all specific requirements for transfer of control under a bill-and-hold arrangement have been met which include, among other things, a request from the customer that the product be held for future scheduled delivery. For these bill-and-hold arrangements, the associated product inventory is identified separately as belonging to the customer and is ready for physical transfer.

Contract Balances

CONTRACT BALANCES

The timing of revenue recognition may differ from the timing of invoicing to customers. A receivable is recognized in the period the Company delivers goods or provides services, and is recorded at the invoiced amount, net of an allowance for doubtful accounts. A receivable is also recognized for unbilled services where the Company’s right to consideration is unconditional, and is recorded based on an estimate of time and materials. Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 20 to 60 days. In instances where the timing of revenue recognition differs from the timing of invoicing, the Company has determined that the contracts do not include a significant financing component. The primary purpose of the Company’s invoicing terms is to provide customers with simplified and predictable ways of purchasing its products and services.

The Company receives payments from customers based upon contractual billing schedules. Contract assets include amounts related to deferred contract acquisition costs (refer to the section “Costs to Obtain a Contract” below) and if applicable, the Company’s conditional right to consideration for completed performance under a contract. The short- and long-term components of contract assets in the table below are included in Prepaid expenses and other current assets, and Other assets, respectively, in the Consolidated Balance Sheets. Contract liabilities include payments received in advance of performance under the contract, which are recognized as revenue when the performance obligation is completed under the contract, as well as accrued contract acquisition costs, liabilities related to the Company’s loyalty program and gift cards. The short- and long-term components of contract liabilities in the table below are included in Accrued expenses and other current liabilities, and Deferred income taxes and other long-term liabilities, respectively, in the Consolidated Balance Sheets.

The following table provides information about receivables, contract assets and contract liabilities from contracts with customers:

	December 25,		December 26,
(In millions)	2021		2020
Trade receivables, net	$	353	$	325
Short-term contract assets		16		15
Long-term contract assets		8		15
Short-term contract liabilities		52		50
Long-term contract liabilities		2		4

In 2021 and 2020, the Company did not have any contract assets related to conditional rights. The Company recognized revenues of $24 million and $20 million in 2021 and 2020, respectively, which were included in the short-term contract liability balance at the beginning of the period. The Company recognized no contract assets and $2 million of contract liabilities in 2021 as a result of business combinations. There were no contract assets and liabilities that were recognized in 2020 as a result of business combinations. There were no significant adjustments to revenue from performance obligations satisfied in previous periods and there were no contract assets recognized at the beginning of the period that transferred to receivables in 2021 and 2020. Included in the table above are short- and long-term contract assets of $1 million and $2 million, respectively as of both December 25, 2021 and December 26, 2020, related to CompuCom, which are presented as part of assets held for sale in the Consolidated Balance Sheets. Also included in the table above are short- and long-term contract liabilities of $10 million and $2 million, respectively, as of December 25, 2021 and $9 million and $4 million, respectively as of December 26, 2020 related to CompuCom, which are presented as part of liabilities held for sale in the Consolidated Balance Sheets.

A majority of the purchase orders and statements of work related to contracts with customers require delivery of the product or service within one year or less. For certain service contracts that exceed one year, the Company recognizes revenue at the amount to which it has the right to invoice for services performed. Accordingly, the Company has applied the optional exemption provided by the new revenue recognition standard relating to unsatisfied performance obligations and does not disclose the value of unsatisfied performance obligations for its contracts.

Costs to Obtain a Contract

COSTS TO OBTAIN A CONTRACT

The Company recognizes an asset for the incremental costs of obtaining a contract with a customer if it expects the benefit of those costs to be longer than one year. The Company has determined that certain rebate incentive programs meet the requirements to be capitalized. These costs are periodically reviewed for impairment, and are amortized on a straight-line basis over the expected period of benefit. As of December 25, 2021 and December 26, 2020, short-term contract assets and long-term contract assets in the table above represent capitalized acquisition costs. In 2021, 2020 and 2019, amortization expense was $24 million, $29 million and $34 million, respectively. The Company had no asset impairment charges related to contract assets in the periods presented herein. There is uncertainty regarding the impacts of COVID-19 on the global and national economies, which could negatively affect the Company’s customers and result in future impairments of contract assets.

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 25, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Status of Company's Nonvested Shares

A summary of the status of the Company’s nonvested shares and changes during 2021, 2020 and 2019 is presented below.

	2021					2020					2019
	Shares			Weighted Average Grant- Date Price		Shares			Weighted Average Grant- Date Price		Shares⁽¹⁾			Weighted Average Grant- Date Price⁽¹⁾
Outstanding at beginning of year		1,526,653		$	24.71		1,394,756		$	30.40		1,496,419		$	30.48
Granted		521,512			39.55		835,828			19.92		740,236			29.90
Vested		(593,249	)		23.72		(579,584	)		30.71		(593,440	)		30.88
Forfeited		(68,138	)		29.20		(124,347	)		28.60		(248,459	)		28.56
Outstanding at end of year		1,386,778		$	30.48		1,526,653		$	24.71		1,394,756		$	30.40

(1)As disclosed in Note 1, a 1-for-10 reverse stock split of the Company’s outstanding shares of common stock and a reduction in the number of authorized shares of the Company’s common stock by a corresponding ratio became effective on June 30, 2020. All shares and per share amounts have been retroactively adjusted for the 2019 period presented to give effect to this reverse stock split.

Summary of Performance Based Long Term Incentive Program

A summary of the activity in the performance-based long-term incentive program since inception is presented below.

	2021					2020					2019
	Shares			Weighted Average Grant- Date Price		Shares			Weighted Average Grant- Date Price		Shares⁽¹⁾			Weighted Average Grant- Date Price⁽¹⁾
Outstanding at beginning of year		2,458,978		$	24.22		1,994,111		$	29.05		1,913,397		$	28.83
Granted		1,298,868			41.44		932,344			19.42		1,026,743			31.00
Vested		(1,374,442	)		23.47		(151,905	)		41.80		(284,366	)		33.12
Forfeited		(207,573	)		28.71		(315,572	)		27.10		(661,663	)		28.87
Outstanding at end of year⁽²⁾		2,175,831		$	29.33		2,458,978		$	24.22		1,994,111		$	29.05

(1)

As disclosed in Note 1, a 1-for-10 reverse stock split of the Company’s outstanding shares of common stock and a reduction in the number of authorized shares of the Company’s common stock by a corresponding ratio became effective on June 30, 2020. All shares and per share amounts have been retroactively adjusted for the 2019 period presented to give effect to this reverse stock split.

(2)

Outstanding shares at the end of 2021 include 5.6 million shares of awards granted in 2020 that will be settled in cash in 2023. These awards are remeasured to fair value at each reporting period. The remeasurement impact was not material in 2021 and 2020.

Calculation Earnings (Loss) Per Common Share (Detail) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions

3 Months Ended

12 Months Ended

Dec. 25, 2021

^[1]

Sep. 25, 2021

^[1]

Jun. 26, 2021

^[1]

Mar. 27, 2021

^[1]

Dec. 26, 2020

^[1]

Sep. 26, 2020

^[1]

Jun. 27, 2020

^[1]

Mar. 28, 2020

^[1]

Dec. 25, 2021

Dec. 26, 2020

Dec. 28, 2019

Basic earnings (loss) per share

Net income (loss) from continuing operations

$ 32

$ 73

$ 20

$ 63

$ 31

$ 34

$ (176)

$ 48

$ 187

$ (63)

$ 127

Discontinued operations, net of tax

(306)

(108)

(10)

(13)

(263)

(3)

(395)

(256)

(28)

Net income (loss)

$ (274)

$ 101

$ (88)

$ 53

$ 18

$ 57

$ (439)

$ 45

$ (208)

$ (319)

$ 99

Weighted-average shares outstanding

$ 0.63

^[2]

$ 1.38

^[2]

$ 0.36

^[2]

$ 1.17

^[2]

$ 0.59

^[3]

$ 0.64

^[3]

$ (3.34)

^[3]

$ 0.90

^[3]

$ 3.54

$ (1.20)

$ 2.32

Net basic earnings (loss) per share

(6.07)

^[2]

0.54

^[2]

(1.98)

^[2]

(0.18)

^[2]

(0.24)

^[3]

0.43

^[3]

(5.00)

^[3]

(0.04)

^[3]

(7.47)

(4.85)

(0.50)

$ (5.44)

^[2]

$ 1.92

^[2]

$ (1.62)

^[2]

$ 0.99

^[2]

$ 0.35

^[2]

$ 1.07

^[2]

$ (8.34)

^[2]

$ 0.86

^[2]

$ (3.93)

$ (6.05)

$ 1.82

Diluted earnings (loss) per share

Net income (loss) from continuing operations

$ 32

$ 73

$ 20

$ 63

$ 31

$ 34

$ (176)

$ 48

$ 187

$ (63)

$ 127

Discontinued operations, net of tax

(306)

(108)

(10)

(13)

(263)

(3)

(395)

(256)

(28)

Net income (loss)

$ (274)

$ 101

$ (88)

$ 53

$ 18

$ 57

$ (439)

$ 45

$ (208)

$ (319)

$ 99

Weighted-average shares outstanding

Stock options and restricted stock

Diluted weighted-average shares outstanding

$ 0.61

^[2]

$ 1.33

^[2]

$ 0.35

^[2]

$ 1.12

^[2]

$ 0.57

^[3]

$ 0.63

^[3]

$ (3.34)

^[3]

$ 0.88

^[3]

$ 3.42

$ (1.20)

$ 2.29

Net diluted earnings (loss) per share

(5.87)

^[2]

0.52

^[2]

(1.93)

^[2]

(0.17)

^[2]

(0.23)

^[3]

0.41

^[3]

(5.00)

^[3]

(0.04)

^[3]

(7.21)

(4.85)

(0.50)

$ (5.26)

^[2]

$ 1.85

^[2]

$ (1.58)

^[2]

$ 0.95

^[2]

$ 0.34

^[2]

$ 1.04

^[2]

$ (8.34)

^[2]

$ 0.84

^[2]

$ (3.79)

$ (6.05)

$ 1.79

[1]	Due to rounding, the sum of the quarterly amounts may not equal the reported amounts for the year.
[2]	The sum of the quarterly earnings (loss) per share does not equal the annual earnings (loss) per share due to differences in quarterly and annual weighted-average shares outstanding.
[3]	The sum of the quarterly earnings (loss) per share does not equal the annual earnings (loss) per share due to differences in quarterly and annual weighted-average shares outstanding. As disclosed in Note 1, a 1-for-10 reverse stock split of the Company’s outstanding shares of common stock and a reduction in the number of authorized shares of the Company’s common stock by a corresponding ratio became effective on June 30, 2020. All per share amounts have been retroactively adjusted for the prior periods presented to give effect to this reverse stock split.

Schedule of Debt (Parenthetical) (Detail)	12 Months Ended
Schedule of Debt (Parenthetical) (Detail)	Dec. 25, 2021	Dec. 26, 2020
Third Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Long term debt, due date	2025	2025
Revenue bonds, due in varying amounts periodically through 2029
Debt Instrument [Line Items]
Long term debt, due date	2029	2029
American & Foreign Power Company, Inc. 5% debentures, due 2030
Debt Instrument [Line Items]
Long term debt, due date	2030	2030
Long term debt, interest rate	5.00%	5.00%

Changes in Pension and Other Postretirement Benefit Obligations, Plan Assets and Funded Status (Detail) - North America - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Obligation at beginning of period	$ 924	$ 906
Service cost			$ 7
Interest cost	20	28	36
Assumption changes	(28)
Actuarial (gain) loss	(12)	68
Benefits paid	(74)	(78)
Obligation at end of period	830	924	906
Fair value of plan assets at beginning of period	894	833
Actual return on plan assets	14	130
Employer contribution	2	9
Benefits paid	(74)	(78)
Fair value of plan assets at end of period	836	894	833
Net asset (liability) recognized at end of period	6	(30)
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Obligation at beginning of period	14	13
Assumption changes		1
Currency exchange rate change		1
Benefits paid	(1)	(1)
Obligation at end of period	13	14	$ 13
Employer contribution	1	1
Benefits paid	(1)	(1)
Net asset (liability) recognized at end of period	$ (13)	$ (14)

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 25, 2021

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

NOTE 15. FAIR VALUE MEASUREMENTS

RECURRING FAIR VALUE MEASUREMENTS

In accordance with GAAP, certain assets and liabilities are required to be recorded at fair value on a recurring basis. The Company’s assets and liabilities that are adjusted to fair value on a recurring basis are money market funds that qualify as cash equivalents, and derivative financial instruments, which may be entered into to mitigate risks associated with changes in foreign currency exchange rates, fuel and other commodity prices and interest rates. Amounts associated with derivative instruments were not significant.

NONRECURRING FAIR VALUE MEASUREMENTS

In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company records certain assets and liabilities at fair value on a nonrecurring basis as required by GAAP. Generally, assets are recorded at fair value on a nonrecurring basis as a result of impairment charges. The Company recognized asset impairment charges of $20 million, $182 million and $56 million in 2021, 2020 and 2019, respectively. Of the asset impairment charges in 2021, $16 million was related to impairment of operating lease ROU assets associated with the Company’s retail store locations, and the remainder was related to impairment of fixed assets. Of the asset impairment charges in 2020, $115 million was related to the impairment of goodwill in the Contract reporting unit, $48 million was related to impairment of operating lease ROU assets associated with the Company’s retail store locations, $12 million was related to impairment of fixed assets at these retail store locations, and the remainder related to a cost method investment and write-down of intangible assets that are not currently used. All impairment charges discussed in the sections below are presented in Asset impairments in the Consolidated Statements of Operations.

The Company regularly reviews retail store assets for impairment indicators at the individual store level, as this represents the lowest level of identifiable cash flows. When indicators of impairment are present, a recoverability analysis is performed which considers the estimated undiscounted cash flows over the retail store’s remaining life and uses input from retail operations and accounting and finance personnel. These inputs include management’s best estimates of retail store-level sales, gross margins, direct expenses, exercise of future lease renewal options when reasonably certain to be exercised, and resulting cash flows that can naturally include judgments about how current initiatives will impact future performance. The assumptions used within the recoverability analysis for the retail stores were updated to consider current quarter retail store operational results and formal plans for future retail store closures as part of the Company’s restructuring programs, including the probability of closure at the retail store level. While it is generally understood that closures will approximate the store’s lease termination date, it is possible that changes in store performance or other conditions could result in future changes in assumptions utilized. These assumptions reflected declining sales over the forecast period, and gross margin and operating cost assumptions that are consistent with recent actual results and consider plans for future initiatives. The Company also analyzed the impact of the COVID-19 pandemic on store asset recoverability. Due to the nature of products sold, the retail stores were considered to be essential by most local jurisdictions and as a result, the substantial majority of these retail stores have remained open and operational with the appropriate safety measures in place since the beginning of the COVID-19 outbreak, including a curbside pickup option. Since late in the first quarter of 2020, the Company has temporarily reduced retail location hours by one to two hours daily, which continues to be in effect at the majority of its retail locations. The Company’s recoverability assessment included evaluating the impact of these developments.

If the undiscounted cash flows of a retail store cannot support the carrying amount of its assets, the assets are impaired if necessary and written down to estimated fair value. The fair value of retail store assets is determined using a discounted cash flow analysis which uses Level 2 unobservable inputs that are corroborated by market data such as independent real estate valuation opinions. Specifically, the analysis uses assumptions of potential rental rates for each retail store location which are based on market data for comparable locations. These estimated cash flows used in the 2021 impairment calculation were discounted at a weighted average discount rate of 8%. For the fourth quarter 2021 calculation, a 100-basis-point decrease in next year sales combined with a 50-basis-point decrease in next year gross margin would have increased the impairment by approximately $1 million. Further, a 100-basis-point decrease in sales for all future periods would increase the impairment by less than $1 million.

The Company will continue to evaluate initiatives to improve performance and lower operating costs. There is uncertainty regarding the impact of the COVID-19 pandemic on the future results of operations, including the forecast period used in the recoverability analysis. To the extent that forward-looking sales and operating assumptions are not achieved and are subsequently reduced, additional impairment charges may result. However, at the end of 2021, the impairment recognized reflects the Company’s best estimate of future performance.

In addition to its retail store assets, the Company also regularly evaluates whether there are impairment indicators associated with its other long-lived assets, which were negatively impacted by the COVID-19 pandemic, as discussed in Note 9. The Company did not identify any impairment indicators for these long-lived assets as of December 25, 2021 and as a result there were no associated impairment charges. Refer to Note 9 for additional information about the impairment charges related to goodwill and other intangible assets.

OTHER FAIR VALUE DISCLOSURES

The fair values of cash and cash equivalents, receivables, trade accounts payable and accrued expenses and other current liabilities approximate their carrying amounts because of their short-term nature.

The following table presents information about financial instruments at the balance sheet dates indicated.

	December 25,				December 26,
	2021				2020
(In millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets:
Company-owned life insurance		137		137		147		147
Financial liabilities:
Long-term debt:
New Facilities loans under the Third Amended Credit Agreement, due 2025		100		100		100		100
Revenue bonds, due in varying amounts periodically through 2029		75		76		176		177
American & Foreign Power Company, Inc. 5% debentures, due 2030		15		16		15		14

The following methods and assumptions were used to estimate the fair value of each class of financial instruments:

•

Company-owned life insurance: In connection with the 2013 OfficeMax merger, the Company acquired company-owned life insurance policies on certain former employees. The fair value of the company-owned life insurance policies is derived using determinable net cash surrender value, which is the cash surrender value less any outstanding loans (Level 2 measure). As disclosed in Note 10, all outstanding loans associated with company-owned life insurance policies were repaid during the second quarter of 2020. The carrying amounts of the company-owned life insurance policies are included in Other assets in the Consolidated Balance Sheets.

•

Long-term debt: Long-term debt, for which there were no transactions on the measurement date, was valued based on quoted market prices near the measurement date when available or by discounting the future cash flows of each instrument using rates based on the most recently observable trade or using rates currently offered to the Company for similar debt instruments of comparable maturities (Level 2 measure). The carrying amount of the New Facilities loans under the Third Amended Credit Agreement approximates fair value because the interest rates vary with market interest rates. Refer to Note 10 for additional information about the Third Amended Credit Agreement.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

LEASES (Tables)

12 Months Ended

Dec. 25, 2021

Components of Lease Expense

The components of lease expense were as follows:

(In millions)	2021			2020			2019
Finance lease cost:
Amortization of right-of-use assets	$	18		$	18		$	17
Interest on lease liabilities		3			4			5
Operating lease cost		350			402			419
Short-term lease cost		4			6			5
Variable lease cost		99			112			118
Sublease income		(2	)		(2	)		(2	)
Total lease cost	$	472		$	540		$	562

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases was as follows:

(In millions)	2021		2020		2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from finance leases	$	3	$	4	$	5
Operating cash flows from operating leases		408		447		473
Financing cash flows from finance leases		22		20		21
Right-of-use assets obtained in exchange for new finance lease liabilities		3		29		27
Right-of-use assets obtained in exchange for new operating lease liabilities		127		117		327

Supplemental Balance Sheets Information Related to Leases

Supplemental balance sheets information related to leases was as follows:

	December 25,			December 26,
(In millions, except lease term and discount rate)	2021			2020
Property and equipment, net	$	39		$	59
Operating lease right-of-use assets		936			1,107
Accrued expenses and other current liabilities		304			334
Short-term borrowings and current maturities of long-term debt		17			21
Long-term debt, net of current maturities		35			57
Operating lease liabilities		753			935
Weighted-average remaining lease term – finance leases	4			5
Weighted-average remaining lease term – operating leases	5			5
Weighted-average discount rate – finance leases		5.0	%		5.4	%
Weighted-average discount rate – operating leases		5.8	%		6.4	%

Schedule of Maturities of Lease Liabilities Under Operating and Finance Leases

Maturities of lease liabilities as of December 25, 2021 were as follows:

	December 25, 2021
	Operating			Finance
(In millions)	Leases⁽¹⁾			Leases⁽²⁾
2022	$	358		$	19
2023		283			15
2024		199			8
2025		134			7
2026		102			5
Thereafter		140			3
		1,216			57
Less imputed interest		(159	)		(5	)
Total	$	1,057		$	52

Reported as of December 25, 2021
Accrued expenses and other current liabilities	$	304		$	—
Short-term borrowings and current maturities of long-term debt		—			17
Long-term debt, net of current maturities		—			35
Operating lease liabilities		753			—
Total	$	1,057		$	52

(1)	Operating lease payments include $77 million related to options to extend lease terms that are reasonably certain of being exercised.

(2)	Finance lease payments include $1 million related to options to extend lease terms that are reasonably certain of being exercised.

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 25, 2021

Schedule of Property and Equipment

Property and equipment consists of:

	December 25,			December 26,
(In millions)	2021			2020
Land	$	45		$	45
Buildings		200			210
Computer software		693			659
Leasehold improvements		587			598
Furniture, fixtures and equipment		775			784
Construction in progress		12			22
		2,312			2,318
Less accumulated depreciation		(1,835	)		(1,776	)
Total	$	477		$	542

Estimated Future Amortization Expense for Intangible Assets

Estimated future amortization expense related to capitalized software at December 25, 2021 is as follows:

(In millions)
2022	$	38
2023		31
2024		23
2025		16
2026		7
Thereafter		—

Assets Held Under Finance Leases

Schedule of Property and Equipment

The above table of property and equipment includes assets held under finance leases as follows:

	December 25,			December 26,
(In millions)	2021			2020
Buildings	$	19		$	34
Furniture, fixtures and equipment		143			147
		162			181
Less accumulated depreciation		(123	)		(122	)
Total	$	39		$	59

Weighted Average Assumptions Used in the Measurement of Net Periodic Benefit Cost (Detail)	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.27%	3.26%	4.31%
Expected long-term rate of return on plan assets	4.31%	5.16%	5.44%
Other Benefits \| United States
Defined Benefit Plan Disclosure [Line Items]
Discount rate	1.90%	2.80%	3.90%
Other Benefits \| Canada
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.50%	3.10%	3.90%

Components of Lease Expense (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Finance lease cost:
Amortization of right-of-use assets	$ 18	$ 18	$ 17
Interest on lease liabilities	3	4	5
Operating lease cost	350	402	419
Short-term lease cost	4	6	5
Variable lease cost	99	112	118
Sublease income	(2)	(2)	(2)
Total lease cost	$ 472	$ 540	$ 562

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 25, 2021

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

•

Refer to Note 9 for additional information on goodwill and other intangible assets.

of the arrangements have been communicated to affected employees. Amounts are recognized when communicated or over the remaining service period, based on the terms of the arrangements.

Level 1

Quoted prices in active markets for identical assets or liabilities.

Level 2

Observable market-based inputs or unobservable inputs that are corroborated by market data.

Level 3

Cost of Goods Sold and Occupancy Costs: Cost of goods sold and occupancy costs include:

inventory costs (as discussed above);

outbound freight;

employee and non-employee receiving, distribution, and occupancy costs (rent), including depreciation, real estate taxes and common area costs, of inventory-holding and selling locations; and

identifiable employee-related costs associated with services provided to customers.

Selling, General and Administrative Expenses: Selling, general and administrative expenses include amounts incurred related to expenses of operating and support functions, including:

employee payroll and benefits, including variable pay arrangements;

advertising;

store and field support;

other operating costs incurred relating to selling activities; and

closed defined benefit pension and postretirement plans.

•

Finance leases:

Property and equipment, net –leases which were referred to as capital leases under the old accounting standard;

Short-term borrowings and current maturities of long-term debt – short-term obligations to make lease payments arising from the finance lease; and

Long-term debt, net of current maturities – long-term obligations to make lease payments arising from the finance lease.

•

Operating leases:

ROU assets – the Company’s right to use the underlying asset for the lease term;

Accrued expenses and other current liabilities – short-term obligations to make lease payments arising from the operating lease; and

Operating lease liabilities – long-term obligations to make lease payments arising from the operating lease.

The Company has lease agreements with lease and non-lease components, for which it has made an accounting policy election to account for these as a single lease component.

NEW ACCOUNTING STANDARDS

Standards that were adopted:

Stock-Based Compensation - Additional Information (Detail)
$ in Millions

12 Months Ended

May 11, 2020

Dec. 25, 2021

USD ($)

Dec. 26, 2020

USD ($)

Dec. 28, 2019

USD ($)

Dec. 29, 2018

^[1]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Total compensation expense for share-based awards | $

$ 38.0

$ 41.0

$ 33.0

Total recognized tax benefit | $

$ 14.0

$ 3.0

$ 6.0

Reverse stock split

1-for-10

Reverse stock split ratio

0.1

Performance Based Stock Incentive Program

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Reverse stock split

1-for-10

Reverse stock split ratio

0.1

Shares granted in period

1,298,868

932,344

1,026,743

^[1]

Award vesting period

3 years

Stock-based compensation expense not yet recognized relating to non-vested awards | $

$ 29.0

Stock-based compensation expense relating to non-vested awards, weighted-average recognition period, years

2 years

Estimated number of shares expected to vest

2,175,831

^[2]

2,458,978

^[2]

1,994,111

^[1],[2]

1,913,397

2,200,000

Fair value of shares vested | $

$ 55.0

Restricted Stock and Restricted Stock Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Reverse stock split

1-for-10

Reverse stock split ratio

0.1

Shares granted in period

521,512

835,828

^[1]

740,236

^[1]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

1,386,778

1,526,653

^[1]

1,394,756

^[1]

1,496,419

Restricted Stock

Award vesting period

3 years

Stock-based compensation expense not yet recognized relating to non-vested awards | $

$ 23.0

Stock-based compensation expense relating to non-vested awards, weighted-average recognition period, years

2 years 1 month 6 days

Fair value of shares vested | $

$ 24.2

Director | Restricted Stock and Restricted Stock Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Shares granted in period

30,000

Employees | Restricted Stock and Restricted Stock Units

200,000

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Estimated number of shares expected to vest

1,200,000

1,200,000

[1]	As disclosed in Note 1, a 1-for-10 reverse stock split of the Company’s outstanding shares of common stock and a reduction in the number of authorized shares of the Company’s common stock by a corresponding ratio became effective on June 30, 2020. All shares and per share amounts have been retroactively adjusted for the 2019 period presented to give effect to this reverse stock split.
[2]	Outstanding shares at the end of 2021 include 5.6 million shares of awards granted in 2020 that will be settled in cash in 2023. These awards are remeasured to fair value at each reporting period. The remeasurement impact was not material in 2021 and 2020.

Components of Net Periodic Pension Cost (Benefit) (Detail) - Pension Benefits - North America - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Defined Benefit Plan Disclosure [Line Items]
Service cost			$ 7
Interest cost	$ 20	$ 28	36
Expected return on plan assets	(29)	(32)	(42)
Net periodic cost (benefit)	$ (9)	$ (4)	$ 1

Summary of Major Components of Merger and Restructuring Expenses, Net (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Merger and transaction related expenses
Severance and retention			$ 1
Transaction and integration		$ 4	7
Facility closure, contract termination and other expenses, net		1
Total Merger and transaction related expenses		5	8
Restructuring expenses
Severance	$ (2)	41	26
Professional fees	5	21	41
Facility closure, contract termination, and other expenses, net	15	35	11
Total Restructuring expenses, net	14	97	78
Other operating expenses
Professional fees	37
Total Other operating expenses	37
Total Merger, restructuring and other operating expenses, net	$ 51	$ 102	$ 86

Accumulated Other Comprehensive Loss Activity, Net of Tax (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 1,880	$ 2,173	$ 2,126
Other comprehensive income activity	32	41
Tax impact	(6)	(7)
Total other comprehensive income, net of tax, where applicable	26	34	33
Balance	1,438	1,880	2,173
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(27)	(29)
Other comprehensive income activity		2
Total other comprehensive income, net of tax, where applicable		2
Balance	(27)	(27)	(29)
Change in Deferred Pension
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(5)	(37)
Other comprehensive income activity	32	39
Tax impact	(6)	(7)
Total other comprehensive income, net of tax, where applicable	26	32
Balance	21	(5)	(37)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(32)	(66)	(99)
Total other comprehensive income, net of tax, where applicable	26	34	33
Balance	$ (6)	$ (32)	$ (66)

Amount before tax, after reclassification adjustments of other comprehensive income (loss).

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Amount of tax expense (benefit) allocated to other comprehensive income (loss).

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Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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Cash and cash equivalents

Major Classes of Assets and Liabilities of Disposal Group Classified as Held for Sale (Detail) - USD ($) $ in Millions	Dec. 25, 2021	Dec. 26, 2020
Major classes of assets included in discontinued operations:
Total current assets	$ 469	$ 219
Total noncurrent assets		622
Major classes of liabilities included in discontinued operations:
Total current liabilities	290	152
Total noncurrent liabilities		138
CompuCom Division \| Discontinued Operations, Held-for-Sale
Major classes of assets included in discontinued operations:
Cash and cash equivalents	23
Receivables, net	221	189
Inventories	20	14
Prepaid expenses and other current assets	15	16
Total current assets		219
Property and equipment, net	25	26
Operating lease right-of-use assets	66	62
Goodwill		214
Other intangible assets, net	255	301
Other assets	14	19
Total noncurrent assets		622
Less: valuation allowance	(170)
Total assets of the disposal group classified as held for sale	469	841
Major classes of liabilities included in discontinued operations:
Trade accounts payable	83	62
Accrued expenses and other current liabilities	86	90
Total current liabilities		152
Deferred income taxes and other long-term liabilities	75	82
Operating lease liabilities	46	56
Total noncurrent liabilities		138
Total liabilities of the disposal group classified as held for sale	$ 290	$ 290

CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions

Dec. 25, 2021

Dec. 26, 2020

Current assets:

$ 514

$ 729

Receivables, net

495

442

Inventories

859

916

Prepaid expenses and other current assets

Current assets held for sale

469

219

Total current assets

2,389

2,355

Property and equipment, net

477

542

Operating lease right-of-use assets

936

1,107

Goodwill

464

394

Other intangible assets, net

Deferred income taxes

219

218

Other assets

326

319

Noncurrent assets held for sale

622

Total assets

4,865

5,614

Current liabilities:

Trade accounts payable

950

857

Accrued expenses and other current liabilities

994

1,050

Income taxes payable

Short-term borrowings and current maturities of long-term debt

Current liabilities held for sale

290

152

Total current liabilities

2,265

2,093

Deferred income taxes and other long-term liabilities

159

172

Pension and postretirement obligations, net

Long-term debt, net of current maturities

228

354

Operating lease liabilities

753

^[1]

935

Noncurrent liabilities held for sale

138

Total liabilities

3,427

3,734

Commitments and contingencies

Stockholders’ equity:

Common stock — authorized 80,000,000 shares of $0.01 par value; issued shares — 64,704,979 at December 25, 2021 and 62,551,255 at December 26, 2020; outstanding shares — 48,455,951 at December 25, 2021 and 52,694,062 at December 26, 2020

Additional paid-in capital

2,692

2,675

Accumulated other comprehensive loss

(6)

(32)

Accumulated deficit

(617)

(409)

Treasury stock, at cost — 16,249,028 shares at December 25, 2021 and 9,857,193 shares at December 26, 2020

(632)

(355)

Total stockholders’ equity

1,438

1,880

Total liabilities and stockholders’ equity

$ 4,865

$ 5,614

[1]	Operating lease payments include $77 million related to options to extend lease terms that are reasonably certain of being exercised.

EARNINGS (LOSS) PER SHARE (Tables)

12 Months Ended

Dec. 25, 2021

Earnings Per Share [Abstract]

Calculation of Earnings (Loss) Per Common Share

The following table presents the calculation of net earnings (loss) per common share — basic and diluted:

(In millions, except per share amounts)	2021			2020			2019
Basic Earnings (Loss) Per Share
Numerator:
Net income (loss) from continuing operations	$	187		$	(63	)	$	127
Loss from discontinued operations, net of tax		(395	)		(256	)		(28	)
Net income (loss)	$	(208	)	$	(319	)	$	99
Denominator:
Weighted-average shares outstanding		53			53			54
Basic earnings (loss) per share:
Continuing operations	$	3.54		$	(1.20	)	$	2.32
Discontinued operations		(7.47	)		(4.85	)		(0.50	)
Net basic earnings (loss) per share	$	(3.93	)	$	(6.05	)	$	1.82
Diluted Earnings (Loss) Per Share
Numerator:
Net income (loss) from continuing operations	$	187		$	(63	)	$	127
Loss from discontinued operations, net of tax		(395	)		(256	)		(28	)
Net income (loss)	$	(208	)	$	(319	)	$	99
Denominator:
Weighted-average shares outstanding		53			53			54
Effect of dilutive securities:
Stock options and restricted stock		2			—			1
Diluted weighted-average shares outstanding		55			53			55
Diluted earnings (loss) per share
Continuing operations	$	3.42		$	(1.20	)	$	2.29
Discontinued operations		(7.21	)		(4.85	)		(0.50	)
Net diluted earnings (loss) per share	$	(3.79	)	$	(6.05	)	$	1.79

Segment Information (Parenthetical) (Detail) - USD ($) $ in Millions	Dec. 25, 2021	Dec. 26, 2020
Corporate and Discontinued Operations
Segment Reporting Information [Line Items]
Assets of discontinued operations	$ 469	$ 841

QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 25, 2021

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIAL DATA (UNAUDITED)

NOTE 18. QUARTERLY FINANCIAL DATA (UNAUDITED)

(In millions, except per share amounts)	First Quarter			Second Quarter			Third Quarter		Fourth Quarter
Fiscal Year Ended December 25, 2021*
Net sales	$	2,174		$	2,070		$	2,179	$	2,042
Gross profit		495			432			504		432
Operating income ⁽¹⁾		69			30			104		31
Net income from continuing operations		63			20			73		32
Discontinued operations, net of tax		(10	)		(108	)		28		(306	)
Net income (loss)		53			(88	)		101		(274	)
Basic earnings (loss) per share ⁽²⁾
Continuing operations	$	1.17		$	0.36		$	1.38	$	0.63
Discontinued operations		(0.18	)		(1.98	)		0.54		(6.07	)
Net basic earnings (loss) per share	$	0.99		$	(1.62	)	$	1.92	$	(5.44	)
Diluted earnings (loss) per share ⁽²⁾
Continuing operations	$	1.12		$	0.35		$	1.33	$	0.61
Discontinued operations		(0.17	)		(1.93	)		0.52		(5.87	)
Net diluted earnings (loss) per share	$	0.95		$	(1.58	)	$	1.85	$	(5.26	)

*	Due to rounding, the sum of the quarterly amounts may not equal the reported amounts for the year.

(1)

Includes Merger, restructuring and other operating expenses, net totaling $13 million, $11 million, $13 million and $14 million in the first, second, third and fourth quarters of 2021, respectively. The first, second, third and fourth quarters of 2021 also include asset impairments of $12 million, $1 million, $5 million and $2 million, respectively.

(2)

The sum of the quarterly earnings (loss) per share does not equal the annual earnings (loss) per share due to differences in quarterly and annual weighted-average shares outstanding.

(In millions, except per share amounts)	First Quarter			Second Quarter			Third Quarter		Fourth Quarter
Fiscal Year Ended December 26, 2020*
Net sales	$	2,493		$	1,947		$	2,347	$	2,085
Gross profit		582			372			547		451
Operating income (loss) ⁽³⁾		83			(198	)		102		20
Net income (loss) from continuing operations		48			(176	)		34		31
Discontinued operations, net of tax		(3	)		(263	)		23		(13	)
Net income (loss)		45			(439	)		57		18
Basic earnings (loss) per share ⁽⁴⁾
Continuing operations	$	0.90		$	(3.34	)	$	0.64	$	0.59
Discontinued operations		(0.04	)		(5.00	)		0.43		(0.24	)
Net basic earnings (loss) per share	$	0.86		$	(8.34	)	$	1.07	$	0.35
Diluted earnings (loss) per share ⁽⁴⁾
Continuing operations	$	0.88		$	(3.34	)	$	0.63	$	0.57
Discontinued operations		(0.04	)		(5.00	)		0.41		(0.23	)
Net diluted earnings (loss) per share	$	0.84		$	(8.34	)	$	1.04	$	0.34

*	Due to rounding, the sum of the quarterly amounts may not equal the reported amounts for the year.

(3)

Includes Merger, restructuring and other operating expenses, net totaling $12 million, $53 million, $24 million and $13 million in the first, second, third and fourth quarters of 2020, respectively. The first, second, third and fourth quarters of 2020 also include asset impairments of $12 million, $153 million, $10 million and $8 million, respectively.

(4)

The sum of the quarterly earnings (loss) per share does not equal the annual earnings (loss) per share due to differences in quarterly and annual weighted-average shares outstanding. As disclosed in Note 1, a 1-for-10 reverse stock split of the Company’s outstanding shares of common stock and a reduction in the number of authorized shares of the Company’s common stock by a corresponding ratio became effective on June 30, 2020. All per share amounts have been retroactively adjusted for the prior periods presented to give effect to this reverse stock split.

EMPLOYEE BENEFIT PLANS

12 Months Ended

Dec. 25, 2021

Compensation And Retirement Disclosure [Abstract]

EMPLOYEE BENEFIT PLANS

NOTE 14. EMPLOYEE BENEFIT PLANS

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS — NORTH AMERICA

The Company has retirement obligations under OfficeMax’s U.S. pension plans. The Company sponsors these defined benefit pension plans covering certain terminated employees, vested employees, retirees and some active employees. In 2004 or earlier, OfficeMax’s pension plans were closed to new entrants and the benefits of eligible participants were frozen. Under the terms of these plans, the pension benefit for employees was based primarily on the employees’ years of service and benefit plan formulas that varied by plan. The Company’s general funding policy is to make contributions to the plans in amounts that are within the limits of deductibility under current tax regulations, and not less than the minimum contribution required by law.

Additionally, under previous OfficeMax arrangements, the Company has responsibility for sponsoring retiree medical benefit and life insurance plans including plans related to operations in the U.S. and Canada (referred to as “Other Benefits” in the tables below). The type of retiree benefits and the extent of coverage vary based on employee classification, date of retirement, location, and other factors. All of these postretirement medical plans are unfunded. The Company explicitly reserves the right to amend or terminate its retiree medical and life insurance plans at any time, subject only to constraints, if any, imposed by the terms of collective bargaining agreements. Amendment or termination may significantly affect the amount of expense incurred.

Obligations and Funded Status

The following table provides a reconciliation of changes in the projected benefit obligation and the fair value of plan assets, as well as the funded status of the plans to amounts recognized on the Company’s Consolidated Balance Sheets.

	Pension Benefits						Other Benefits
(In millions)	2021			2020			2021			2020
Changes in projected benefit obligation:
Obligation at beginning of period	$	924		$	906		$	14		$	13
Service cost		—			—			—			—
Interest cost		20			28						—
Assumption changes		(28	)		—			—			1
Actuarial (gain) loss		(12	)		68			—			—
Currency exchange rate change		—			—			—			1
Benefits paid		(74	)		(78	)		(1	)		(1	)
Obligation at end of period	$	830		$	924		$	13		$	14
Change in plan assets:
Fair value of plan assets at beginning of period	$	894		$	833		$	—		$	—
Actual return on plan assets		14			130			—			—
Employer contribution		2			9			1			1
Benefits paid		(74	)		(78	)		(1	)		(1	)
Fair value of plan assets at end of period		836			894			—			—
Net asset (liability) recognized at end of period	$	6		$	(30	)	$	(13	)	$	(14	)

The following table shows the amounts recognized in the Consolidated Balance Sheets related to the Company’s North America defined benefit pension and other postretirement benefit plans as of year-ends:

	Pension Benefits						Other Benefits
(In millions)	2021			2020			2021			2020
Noncurrent assets	$	18		$	—		$	—		$	—
Current liabilities		(2	)		(2	)		(1	)		(1	)
Noncurrent liabilities		(10	)		(28	)		(12	)		(13	)
Net amount recognized	$	6		$	(30	)	$	(13	)	$	(14	)

The following table provides the accumulated benefit obligation for the Company’s North America defined benefit pension and other postretirement benefit plans with a projected benefit obligation and an accumulated benefit obligation in excess of plan assets as of year ends:

	Pension Benefits						Other Benefits
(In millions)	2021			2020			2021			2020
Accumulated benefit obligation in excess of plan assets
Accumulated benefit obligation at end of period	$	(11	)	$	(924	)	$	(13	)	$	(14	)
Fair value of plan assets at end of period		—			894			—			—
Projected benefit obligation in excess of plan assets
Benefit obligation at end of period		(11	)		(924	)
Fair value of plan assets at end of period		—			894

Components of Net Periodic Cost (Benefit)

The components of net periodic cost (benefit) are as follows:

	Pension Benefits									Other Benefits
(In millions)	2021			2020			2019			2021		2020		2019
Service cost	$	—		$	—		$	7		$	—	$	—	$	—
Interest cost		20			28			36			—		—		—
Expected return on plan assets		(29	)		(32	)		(42	)		—		—		—
Net periodic cost (benefit)	$	(9	)	$	(4	)	$	1		$	—	$	—	$	—

Other changes in plan assets and benefit obligations recognized in other comprehensive loss (income) are as follows:

	Pension Benefits									Other Benefits
(In millions)	2021			2020			2019			2021			2020		2019
Accumulated other comprehensive loss (income) at beginning of year	$	(21	)	$	9		$	35		$	1		$	—	$	(1	)
Net loss (gain)		(25	)		(30	)		(26	)		(1	)		1		1
Accumulated other comprehensive loss (income) at end of year	$	(46	)	$	(21	)	$	9		$	—		$	1	$	—

Accumulated other comprehensive loss (income) as of year-ends 2021 and 2020 consist of net losses (gains).

Assumptions

The assumptions used in accounting for the Company’s plans are estimates of factors including, among other things, the amount and timing of future benefit payments. The following table presents the key weighted average assumptions used in the measurement of the Company’s benefit obligations as of year-ends:

										Other Benefits
	Pension Benefits									United States									Canada
	2021			2020			2019			2021			2020			2019			2021			2020			2019
Discount rate		2.69	%		2.27	%		3.26	%		2.40	%		1.90	%		2.80	%		2.90	%		2.50	%		3.10	%

The following table presents the weighted average assumptions used in the measurement of net periodic benefit:

										Other Benefits
	Pension Benefits									United States									Canada
	2021			2020			2019			2021			2020			2019			2021			2020			2019
Discount rate		2.27	%		3.26	%		4.31	%		1.90	%		2.80	%		3.90	%		2.50	%		3.10	%		3.90	%
Expected long-term rate of return on plan assets		4.31	%		5.16	%		5.44	%		—	%		—	%		—	%		—	%		—	%		—	%

For pension benefits, the selected discount rates (which is required to be the rates at which the projected benefit obligations could be effectively settled as of the measurement date) are based on the rates of return for a theoretical portfolio of high-grade corporate bonds (rated AA- or better) with cash flows that generally match expected benefit payments in future years. In selecting bonds for this theoretical portfolio, the Company focuses on bonds that match cash flows to benefit payments and limit the concentration of bonds by issuer. To the extent scheduled bond proceeds exceed the estimated benefit payments in a given period, the yield calculation assumes those excess proceeds are reinvested at an assumed forward rate. The implied forward rate used in the bond model is based on the FTSE (formerly Citigroup) Pension Discount Curve as of the last day of the year. The selected discount rate for other benefits is from a discount rate curve matched to the assumed payout of related obligations. In 2021, as a result of an increase in the discount rate assumption, pension plan obligations decreased by $31 million. In 2020, as a result of a decrease in the discount rate assumption, pension plan obligations increased by $78 million.

The expected long-term rates of return on plan assets assumptions are based on the weighted average of expected returns for the major asset classes in which the plans’ assets are held. Asset-class expected returns are based on long-term historical returns, inflation expectations, forecasted gross domestic product and earnings growth, as well as other economic factors. The weights assigned to each asset class are based on the Company’s investment strategy. The weighted average expected return on plan assets used in the calculation of net periodic pension cost for 2022 is 3.64%.

Obligation and costs related to the Canadian retiree health plan are impacted by changes in trend rates.

The following table presents the assumed healthcare cost trend rates used in measuring the Company’s postretirement benefit obligations at year-ends:

	2021			2020			2019
Weighted average assumptions as of year-end:
Healthcare cost trend rate assumed for next year		6.20	%		6.10	%		6.20	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)		4.00	%		4.50	%		4.50	%
Year that the rate reaches the ultimate trend rate	2041			2029			2029

The Company reassessed the assumptions, including those related to mortality, to measure the North American pension and other postretirement benefit plan obligations at year end 2021, adopting the most applicable mortality tables and improvement factors released in 2021 by The Society of Actuaries’ Retirement Plan Experience Committee. In 2021, as a result of a decrease in the mortality assumption, pension and other postretirement benefit plan obligations increased by $3 million and less than $1 million, respectively. In 2020, as a result of an increase in the mortality assumption, pension and other postretirement benefit plan obligations decreased by $10 million and less than $1 million, respectively.

For pension benefits, most of the obligation is based on participant data from the beginning of the year, which is rolled forward using standard actuarial techniques to the end of the year. Therefore, most actuarial (gains) losses that arise from demographic experience of participants varying from the selected assumptions, are not recognized until the following year. In 2021, pension plan obligations decreased by $12 million due to actuarial gains. This was primarily due to higher than assumed participant mortality in 2020 and a data clean-up of previously deceased beneficiaries. In 2020, pension plan obligations decreased by less than $1 million due to actuarial gains.

Plan Assets

The allocation of pension plan assets by category at year-ends is as follows:

	2021			2020
Cash		1	%		1	%
Common collective trust funds		99	%		99	%
		100	%		100	%

The Employee Benefit Committee is responsible for establishing and overseeing the implementation of the investment policy for the Company’s pension plans. The investment policy is structured to optimize growth of the pension plan trust assets, while minimizing the risk of significant losses, in order to enable the plans to satisfy their benefit payment obligations over time. The Company uses a glide path investment strategy and Company contributions as its primary rebalancing mechanisms to maintain the asset class exposures within the guideline ranges established under the investment policy.

In the second quarter of 2017, the Company reinvested substantially all of the assets attributable to the U.S. pension plans in common collective trust funds. The common collective trust funds are comprised of a diversified portfolio of investments across various asset classes, including U.S. and international equities and fixed-income securities. The common collective trust funds are valued at the net asset value (“NAV”) provided by the administrator of the fund. The net asset value is based on the value of the underlying assets owned by the fund, minus its liabilities, divided by the number of units outstanding.

The investment policy for the pension plan assets allows for a broad range of asset allocations that permit the plans to de-risk in response to changes in funded position and market risks. The investment policy includes a general target asset allocation range of 5% to 15% equity securities and 85% to 95% fixed income securities. The allocation range varies to be more weighted to fixed income securities as funded status increases. Occasionally, the Company may utilize futures or other financial instruments to alter the pension trust’s exposure to various asset classes in a lower-cost manner than trading securities in the underlying portfolios.

The following table presents the pension plan assets by level within the fair value hierarchy at year-ends.

(In millions)	Fair Value Measurements 2021
Asset Category	Total		Assets Measured at NAV ^(a)		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Plan assets measured at net asset value: ^(a)
Common collective trust funds:
U.S. small and mid-cap equity securities	$	7	$	7	$	—	$	—	$	—
U.S. large cap equity securities		29		29		—		—		—
International equity securities		42		42		—		—		—
Corporate bonds		485		485		—		—		—
Government securities		245		245		—		—		—
Other fixed-income		4		4		—		—		—
Cash		18		18		—		—		—
Total common collective trust funds		830		830		—		—		—
Total plan assets measured at net asset value		830		830		—		—		—
Plan assets measured in the fair value hierarchy:
Cash		6		—		6		—		—
Total plan assets measured in the fair value hierarchy		6		—		6		—		—
Total plan assets	$	836	$	830	$	6	$	—	$	—

^(a)

Fair values of Common collective trust funds are estimated using net asset value per unit as a practical expedient which are excluded from the disclosure requirement to classify amounts in the fair value hierarchy in connection with the adoption of Accounting Standards Update (ASU) 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent).

(In millions)	Fair Value Measurements 2020
Asset Category	Total		Assets Measured at NAV ^(a)		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Plan assets measured at net asset value: ^(a)
Common collective trust funds:
U.S. small and mid-cap equity securities	$	22	$	22	$	—	$	—	$	—
U.S. large cap equity securities		94		94		—		—		—
International equity securities		133		133		—		—		—
Corporate bonds		409		409		—		—		—
Government securities		214		214		—		—		—
Other fixed-income		3		3		—		—		—
Cash		13		13		—		—		—
Total common collective trust funds		888		888		—		—		—
Total plan assets measured at net asset value		888		888		—		—		—
Plan assets measured in the fair value hierarchy:
Cash		6		—		6		—		—
Total plan assets measured in the fair value hierarchy		6		—		6		—		—
Total plan assets	$	894	$	888	$	6	$	—	$	—

^(a)

Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date.

Cash Flows

Pension plan contributions include required statutory minimum amounts and, in some years, additional discretionary amounts. In 2021, the Company contributed $2 million to these pension plans. Pension contributions for the full year of 2022 are estimated to be $2 million. The Company may elect at any time to make additional voluntary contributions.

Qualified pension benefit payments are paid from the assets held in the plan trust, while nonqualified pension and other benefit payments are paid by the Company. Anticipated benefit payments by year are as follows:

(In millions)	Pension Benefits		Other Benefits
2022	$	73	$	1
2023		71		1
2024		68		1
2025		65		1
2026		62		1
Next five years		265		3

PENSION PLAN — UNITED KINGDOM

The Company has a frozen defined benefit pension plan in the United Kingdom.

Obligations and Funded Status

The following table provides a reconciliation of changes in the projected benefit obligation, the fair value of plan assets and the funded status of the plan to amounts recognized on the Company’s Consolidated Balance Sheets.

(In millions)	2021			2020
Changes in projected benefit obligation:
Obligation at beginning of period	$	269		$	236
Service cost		—			—
Interest cost		4			5
Plan settlements		(7	)		—
Benefits paid		(5	)		(8	)
Actuarial (gain) loss		(1	)		26
Currency translation		(3	)		10
Obligation at end of period		257			269
Changes in plan assets:
Fair value of plan assets at beginning of period		360			312
Actual return on plan assets		12			41
Company contributions		2			2
Plan settlements		(7	)		—
Benefits paid		(4	)		(8	)
Currency translation		(5	)		13
Fair value of plan assets at end of period		358			360
Net asset recognized at end of period	$	101		$	91

In the Consolidated Balance Sheets, the net funded amounts are classified as a non-current asset in the caption Other assets.

Components of Net Periodic Benefit

The components of net periodic benefit are presented below:

(In millions)	2021			2020			2019
Service cost	$	—		$	—		$	—
Interest cost		4			5			6
Expected return on plan assets		(6	)		(5	)		(7	)
Settlement gain		(1	)		—			—
Net periodic pension benefit	$	(3	)	$	—		$	(1	)

Included in Accumulated other comprehensive income was deferred income of $24 million and $18 million in 2021 and 2020, respectively.

Assumptions

Assumptions used in calculating the funded status and net periodic benefit included:

	2021			2020			2019
Expected long-term rate of return on plan assets		2.03	%		1.64	%		1.76	%
Discount rate		1.80	%		1.40	%		2.10	%
Inflation		3.20	%		2.70	%		2.90	%

The long-term rate of return on assets assumption has been derived based on long-term UK government fixed income yields, having regard to the proportion of assets in each asset class. The funds invested in equities have been assumed to return 4.1% above the return

on UK government securities of appropriate duration. A return equal to a 15-year AA bond index is assumed for funds invested in corporate bonds. Allowance is made for expenses of 0.17% of assets.

Plan Assets

The allocation of Plan assets is as follows:

	2021			2020
Cash		2	%		1	%
Equity securities		14	%		14	%
Fixed-income securities		84	%		85	%
Total		100	%		100	%

A Trustee committee, comprised of representatives appointed by the Company and of members of this plan, is responsible for establishing and overseeing the implementation of the investment policy for this plan. The plan’s investment policy and strategy are to ensure assets are available to meet the obligations to the beneficiaries and to adjust plan contributions accordingly. The plan trustees are also committed to reducing the level of risk in the plan over the long term, while retaining a return above that of the growth of liabilities. Matching investments are intended to provide a return similar to the increase in the plan liabilities. Growth investments are assets intended to provide a return in excess of the increase in liabilities. At December 25, 2021, the asset allocation was in accordance with the target investment strategy. Asset-class allocations within the ranges are continually evaluated based on expectations for future returns, the funded position of the plan and market risks.

The following table presents the pension plan assets by level within the fair value hierarchy.

(In millions)	Fair Value Measurements 2021
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash	$	9	$	9	$	—	$	—
Equity securities
Developed market equity funds		13		13		—		—
Emerging market equity funds		4		4		—		—
Mutual funds real estate		2		—		—		2
Mutual funds		30		—		30		—
Total equity securities		49		17		30		2
Fixed-income securities
UK debt funds		154		—		154		—
Liability term matching debt funds		115		—		115		—
Emerging market debt fund		2		—		2		—
High yield debt		29		—		29		—
Total fixed-income securities		300		—		300		—
Total	$	358	$	26	$	330	$	2

(In millions)	Fair Value Measurements 2020
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash	$	3	$	3	$	—	$	—
Equity securities
Developed market equity funds		11		11		—		—
Emerging market equity funds		4		4		—		—
Mutual funds real estate		20		—		—		20
Mutual funds		14		—		14		—
Total equity securities		49		15		14		20
Fixed-income securities
UK debt funds		140		—		140		—
Liability term matching debt funds		130		—		130		—
Emerging market debt fund		1		—		1		—
High yield debt		37		—		37		—
Total fixed-income securities		308		—		308		—
Total	$	360	$	18	$	322	$	20

The following is a reconciliation of the change in fair value of the pension plan assets calculated based on Level 3 inputs:

(In millions)	Total
Balance at December 26, 2020	$	20
Actual return on plan assets	$	(1	)
Net sales		(17	)
Balance at December 25, 2021	$	2

Cash Flows

Anticipated benefit payments for the UK pension plan, at 2021 year-end exchange rates, are as follows:

(In millions)	Benefit Payments
2022	$	12
2023		13
2024		13
2025		13
2026		14
Next five years		75

RETIREMENT SAVINGS PLANS

The Company also sponsors defined contribution plans for most of its employees. Eligible Company employees may participate in the Office Depot, Inc. Retirement Savings Plans (a plan for U.S. employees and a plan for Puerto Rico employees). All of the Company’s defined contribution plans (the “401(k) Plans”) allow eligible employees to contribute a percentage of their salary, commissions and bonuses in accordance with plan limitations and provisions of Section 401(k) of the Internal Revenue Code and the Company makes partial matching contributions to each plan subject to the limits of the respective 401(k) Plans. Matching contributions are invested in the same manner as the participants’ pre-tax contributions. The 401(k) Plans also allow for a discretionary matching contribution in addition to the normal match contributions if approved by the Board of Directors.

ODP and OfficeMax previously sponsored non-qualified deferred compensation plans that allowed certain employees, who were limited in the amount they could contribute to their respective 401(k) plans, to defer a portion of their earnings and receive a Company matching amount. Both plans are closed to new contributions.

Compensation expense for the Company’s contributions to these retirement savings plans was $16 million in 2021, $17 million in 2020 and $21 million in 2019.

The entire disclosure for retirement benefits.

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Quarterly Financial Information Disclosure [Abstract]

Stockholders' Equity - Additional Information (Detail) - USD ($)		12 Months Ended
	Nov. 16, 2021	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019	Dec. 31, 2021	May 31, 2021	Nov. 06, 2019
Shareholders Equity [Line Items]
Treasury stock		$ 632,000,000	$ 355,000,000
Stock repurchase program, shares purchased		6,000,000
Stock repurchase program, shares purchased at cost		$ 277,000,000	$ 30,000,000	$ 40,000,000
Stock repurchase program, remaining authorized repurchase amount		$ 142,000,000
Treasury stock, shares		16,249,028	9,857,193
Dividends payable, temporarily suspended month and year		2020-05
Subsequent Event
Shareholders Equity [Line Items]
Stock repurchase program, authorized amount					$ 650,000,000
Stock repurchase program, additional authorized amount					$ 200,000,000
Accelerated Share Repurchase Agreement
Shareholders Equity [Line Items]
Stock repurchase program, authorized amount	$ 450,000,000
Up-front payment in exchange for common stock in repurchase shares	$ 150,000,000
Common stock shares received from share repurchase agreement	2,800,000
Treasury stock	$ 120,000,000
Additional up-front payment accounted for reduction in additional paid in capital	$ 30,000,000
Maximum
Shareholders Equity [Line Items]
Stock repurchase program, authorized amount						$ 300,000,000	$ 200,000,000
Preferred Stock
Shareholders Equity [Line Items]
Preferred stock, shares authorized		1,000,000	1,000,000
Redeemable preferred stock, par value per share		$ 0.01	$ 0.01
Preferred stock, shares issued		0	0
Preferred stock, shares outstanding		0	0

QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)

12 Months Ended

Dec. 25, 2021

Schedule of Quarterly Financial Data

(In millions, except per share amounts)	First Quarter			Second Quarter			Third Quarter		Fourth Quarter
Fiscal Year Ended December 25, 2021*
Net sales	$	2,174		$	2,070		$	2,179	$	2,042
Gross profit		495			432			504		432
Operating income ⁽¹⁾		69			30			104		31
Net income from continuing operations		63			20			73		32
Discontinued operations, net of tax		(10	)		(108	)		28		(306	)
Net income (loss)		53			(88	)		101		(274	)
Basic earnings (loss) per share ⁽²⁾
Continuing operations	$	1.17		$	0.36		$	1.38	$	0.63
Discontinued operations		(0.18	)		(1.98	)		0.54		(6.07	)
Net basic earnings (loss) per share	$	0.99		$	(1.62	)	$	1.92	$	(5.44	)
Diluted earnings (loss) per share ⁽²⁾
Continuing operations	$	1.12		$	0.35		$	1.33	$	0.61
Discontinued operations		(0.17	)		(1.93	)		0.52		(5.87	)
Net diluted earnings (loss) per share	$	0.95		$	(1.58	)	$	1.85	$	(5.26	)

*	Due to rounding, the sum of the quarterly amounts may not equal the reported amounts for the year.

(1)

(2)

The sum of the quarterly earnings (loss) per share does not equal the annual earnings (loss) per share due to differences in quarterly and annual weighted-average shares outstanding.

(In millions, except per share amounts)	First Quarter			Second Quarter			Third Quarter		Fourth Quarter
Fiscal Year Ended December 26, 2020*
Net sales	$	2,493		$	1,947		$	2,347	$	2,085
Gross profit		582			372			547		451
Operating income (loss) ⁽³⁾		83			(198	)		102		20
Net income (loss) from continuing operations		48			(176	)		34		31
Discontinued operations, net of tax		(3	)		(263	)		23		(13	)
Net income (loss)		45			(439	)		57		18
Basic earnings (loss) per share ⁽⁴⁾
Continuing operations	$	0.90		$	(3.34	)	$	0.64	$	0.59
Discontinued operations		(0.04	)		(5.00	)		0.43		(0.24	)
Net basic earnings (loss) per share	$	0.86		$	(8.34	)	$	1.07	$	0.35
Diluted earnings (loss) per share ⁽⁴⁾
Continuing operations	$	0.88		$	(3.34	)	$	0.63	$	0.57
Discontinued operations		(0.04	)		(5.00	)		0.41		(0.23	)
Net diluted earnings (loss) per share	$	0.84		$	(8.34	)	$	1.04	$	0.34

*	Due to rounding, the sum of the quarterly amounts may not equal the reported amounts for the year.

(3)

(4)

DEBT (Tables)

12 Months Ended

Dec. 25, 2021

Debt Disclosure [Abstract]

Schedule of Debt

Debt consists of the following:

	December 25,		December 26,
(In millions)	2021		2020
Short-term borrowings and current maturities of long-term debt:
Finance lease obligations	$	17	$	21
Other current maturities of long-term debt		3		3
Total	$	20	$	24
Long-term debt, net of current maturities:
New Facilities loans under the Third Amended Credit Agreement, due 2025		100		100
Revenue bonds, due in varying amounts periodically through 2029		75		176
American & Foreign Power Company, Inc. 5% debentures, due 2030		15		15
Finance lease obligations		35		57
Other financing obligations		3		6
Total	$	228	$	354

Schedule of Maturities of Recourse Debt, Finance Lease and Other Financing Obligations

Aggregate annual maturities of recourse debt, finance lease, and other financing obligations are as follows:

(In millions)
2022	$	22
2023		17
2024		9
2025		106
2026		37
Thereafter		62
Total		253
Less interest on finance leases		(5	)
Total		248
Less:
Current portion		(20	)
Total long-term debt	$	228

Summary of Status of Nonvested Shares (Detail) - Restricted Stock and Restricted Stock Units - $ / shares

12 Months Ended

Dec. 25, 2021

Dec. 26, 2020

Dec. 28, 2019

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Outstanding at beginning of the period, Shares

^[1]

1,526,653

1,394,756

1,496,419

Granted, Shares

521,512

835,828

^[1]

740,236

^[1]

Vested, Shares

(593,249)

(579,584)

^[1]

(593,440)

^[1]

Forfeited, Shares

(68,138)

(124,347)

^[1]

(248,459)

^[1]

Outstanding at end of the period, Shares

1,386,778

1,526,653

^[1]

1,394,756

^[1]

Outstanding at beginning of the period, Weighted Average Grant-Date Price

^[1]

$ 24.71

$ 30.40

$ 30.48

Granted, Weighted Average Grant-Date Price

39.55

19.92

^[1]

29.90

^[1]

Vested, Weighted Average Grant-Date Price

23.72

30.71

^[1]

30.88

^[1]

Forfeited, Weighted Average Grant-Date Price

29.20

28.60

^[1]

28.56

^[1]

Outstanding at end of the period, Weighted Average Grant-Date Price

$ 30.48

$ 24.71

^[1]

$ 30.40

^[1]

[1]

DEBT

12 Months Ended

Dec. 25, 2021

Debt Disclosure [Abstract]

DEBT

NOTE 10. DEBT

Debt consists of the following:

	December 25,		December 26,
(In millions)	2021		2020
Short-term borrowings and current maturities of long-term debt:
Finance lease obligations	$	17	$	21
Other current maturities of long-term debt		3		3
Total	$	20	$	24
Long-term debt, net of current maturities:
New Facilities loans under the Third Amended Credit Agreement, due 2025		100		100
Revenue bonds, due in varying amounts periodically through 2029		75		176
American & Foreign Power Company, Inc. 5% debentures, due 2030		15		15
Finance lease obligations		35		57
Other financing obligations		3		6
Total	$	228	$	354

The Company was in compliance with all applicable covenants of existing loan agreements at December 25, 2021.

THIRD AMENDED CREDIT AGREEMENT

On April 17, 2020, the Company entered into the Third Amended and Restated Credit Agreement (the “Third Amended Credit Agreement”), which provides for a $1.2 billion asset-based revolving credit facility (the “Revolving Loan Facility”) and a $100 million asset-based first-in, last-out term loan facility (the “FILO Term Loan Facility”), for an aggregate principal amount of up to $1.3 billion (the “New Facilities”). The New Facilities mature on April 17, 2025. The Third Amended Credit Agreement replaced the Company’s then existing Amended Credit Agreement that was due to mature in May 2021. The Third Amended Credit Agreement also provides that the Revolving Loan Facility may be increased by up to $250 million, subject to certain terms and conditions, including increased commitments from existing or new lenders. As provided by the Third Amended Credit Agreement, available amounts that can be borrowed at any given time are based on percentages of certain outstanding accounts receivable, credit card receivables, inventory, cash value of company-owned life insurance policies, and certain specific real estate of the Company (the “Borrowing Base”). The Revolving Loan Facility includes two sub-facilities of: (1) up to $1.150 billion which is available to the Company and certain of the Company’s domestic subsidiaries (which includes a letter of credit sub-facility of up to $400 million and a swingline loan sub-facility of up to $115 million); and (2) up to $50 million which is available to certain of the Company’s Canadian subsidiaries (which includes a letter of credit sub-facility of up to $25 million and a swingline loan sub-facility of up to $5 million). Certain of the Company’s subsidiaries guarantee the obligations under the New Facilities (the “Guarantors”). All loans borrowed under the Revolving Loan Facility may be borrowed, repaid and reborrowed from time to time until the maturity date of April 17, 2025 as provided in the Third Amended Credit Agreement. The FILO Term Loan Facility, once repaid, may not be reborrowed.

All amounts borrowed under the New Facilities, as well as the obligations of the Guarantors, are secured by a first priority lien on the Company’s and such Guarantors’ accounts receivables, inventory, cash, cash equivalents, deposit accounts, intercompany loan rights, certain pledged notes, certain life insurance policies, certain related assets, certain real estate and the proceeds thereof in each case. At the Company’s option, borrowings made pursuant to the Third Amended Credit Agreement bear interest at either, (i) the alternate base rate (defined as the higher of the Prime Rate (as announced by the agent), the Federal Funds Rate plus 1/2 of 1% and the one month Adjusted LIBOR (defined below) plus 1%) or (ii) the Adjusted LIBOR (defined as the LIBOR as adjusted for statutory reserves) plus, in either case, a certain margin based on the aggregate average availability under the Third Amended Credit Agreement.

The Third Amended Credit Agreement contains representations, warranties, affirmative and negative covenants, and default provisions which are conditions precedent to borrowing. The most significant of these covenants and default provisions include limitations in certain circumstances on acquisitions, dispositions, share repurchases and the payment of cash dividends.

The New Facilities also include provisions whereby if the global availability is less than 12.5% of the Borrowing Base, the Company’s cash collections go first to the agent to satisfy outstanding borrowings. Further, if total availability falls below 10% of the Borrowing Base, a fixed charge coverage ratio test is required. Any event of default that is not cured within the permitted period, including non-payment of amounts when due, any debt in excess of $25 million becoming due before the scheduled maturity date, or the acquisition of more than 40% of the ownership of the Company by any person or group, within the meaning of the Securities and Exchange Act of 1934, could result in a termination of the New Facilities and all amounts outstanding becoming immediately due and payable.

In 2020, the Company incurred approximately $6 million of new debt issuance costs under the Third Amended Credit Agreement, which will be recognized in interest expense through April 17, 2025, the maturity date of the New Facilities.

Upon the closing of the Third Amended Credit Agreement, the Company made an initial borrowing in the amount of $400 million under the New Facilities in the second quarter of 2020. These proceeds, along with available cash on hand, were used to repay in full the remaining $388 million balance under the Term Loan Credit Agreement (as defined in the section below) and terminate it and to repay approximately $66 million of borrowings and interest associated with the Company’s company-owned life insurance policies, which, prior to their repayment were presented as a reduction to the company-owned life insurance policies asset balances within Other Assets. The Company recognized $12 million of loss from the extinguishment and modification of debt related to this transaction in 2020, which primarily included the write-off of the remaining unamortized original issue discount and debt issuance costs of the Term Loan Credit Agreement as of the closing date of the transaction, and is reflected in the Loss on extinguishment and modification of debt line item of the Consolidated Statement of Operations in 2020. During the third quarter of 2020, the Company repaid $300 million of revolving loans outstanding under the Third Amended Credit Agreement.

At December 25, 2021, the Company had no revolving loans outstanding, $100 million of outstanding FILO Term Loan Facility loans, $49 million of outstanding standby letters of credit, and $877 million of available credit under the Third Amended Credit Agreement. Upon the sale of CompuCom on December 31, 2021, the Company had $776 million of available credit under the Third Amended Credit Agreement.

OTHER SHORT- AND LONG-TERM DEBT

As a result of the OfficeMax merger, the Company assumed the liability for the amounts in the table above on page 87 related to the (i) Revenue bonds, due in varying amounts periodically through 2029, and (ii) American & Foreign Power Company, Inc. 5% debentures, due 2030. Also, the Company has finance lease obligations which relate to buildings and equipment, and various other financing obligations for the amounts included in the table above on page 87.

SCHEDULE OF DEBT MATURITIES

Aggregate annual maturities of recourse debt, finance lease, and other financing obligations are as follows:

(In millions)
2022	$	22
2023		17
2024		9
2025		106
2026		37
Thereafter		62
Total		253
Less interest on finance leases		(5	)
Total		248
Less:
Current portion		(20	)
Total long-term debt	$	228

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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Commitments And Contingencies Disclosure [Abstract]

Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 25, 2021	Sep. 25, 2021	Jun. 26, 2021	Mar. 27, 2021	Dec. 26, 2020	Sep. 26, 2020	Jun. 27, 2020	Mar. 28, 2020	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset impairment charges	$ 2,000,000	$ 5,000,000	$ 1,000,000	$ 12,000,000	$ 8,000,000	$ 10,000,000	$ 153,000,000	$ 12,000,000	$ 20,000,000	$ 182,000,000	$ 56,000,000
Impairment of operating lease ROU assets									$ 16,000,000	48,000,000
Impairment of goodwill and other intangible assets										115,000,000
Impairment of fixed assets										$ 12,000,000
Retail Stores \| Significant Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage used for analysis									8.00%
Retail Stores \| Significant Observable Inputs (Level 2) \| A 100 basis point decrease in anticipated sales
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Decrease in sales for scenario									1.00%
Decrease in gross margin for scenario									0.50%
Retail Stores \| Significant Observable Inputs (Level 2) \| 50 basis point decrease in anticipated gross margins
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Decrease in sales for scenario	1.00%
Maximum \| Retail Stores \| Significant Observable Inputs (Level 2) \| A 100 basis point decrease in anticipated sales \| Additional impairment charges
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset impairment charges	$ 1,000,000
Maximum \| Retail Stores \| Significant Observable Inputs (Level 2) \| 50 basis point decrease in anticipated gross margins \| Additional impairment charges
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset impairment charges	$ 1,000,000

Allocation of Plan Assets (Detail) - United Kingdom	Dec. 25, 2021	Dec. 26, 2020
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets	100.00%	100.00%
Cash
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets	2.00%	1.00%
Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets	14.00%	14.00%
Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets	84.00%	85.00%

Reconciliation Of Income Taxes at Federal Statutory Rate to Provision for Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Income Tax Disclosure [Abstract]
Federal tax computed at the statutory rate	$ 48	$ (8)	$ 37
State taxes, net of Federal benefit	10	4	8
Foreign income taxed at rates other than Federal	(5)	4	(2)
Increase (decrease) in valuation allowance	(3)	(3)	8
Non-deductible Goodwill impairments		24
Other non-deductible expenses and settlements	5	4	3
Non-taxable income and additional deductible expenses	(3)	(3)	(4)
Change in unrecognized tax benefits			2
Impact of stock compensation shortfall	(6)	2
Other items, net	(2)	1	(1)
Income tax expense	$ 44	$ 25	$ 51

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019
Statement Of Stockholders Equity [Abstract]
Dividend paid on common stock, per share	$ 0.25	$ 1.00

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 25, 2021

COMMITMENTS AND CONTINGENCIES

NOTE 16. COMMITMENTS AND CONTINGENCIES

COMMITMENTS

The Company has a paper purchase agreement with Boise White Paper, L.L.C. (“Boise Paper”) under which it agreed to purchase office paper from Boise Paper and Boise Paper has agreed to supply office paper to the Company, subject to the terms and conditions of the paper purchase agreement. Under the agreement, the Company has committed to purchase a portion of its paper product offering from Boise Paper. Purchases under the agreement were $336 million in 2021, $326 million in 2020 and $541 million in 2019.

INDEMNIFICATIONS

Indemnification obligations may arise from the Asset Purchase Agreement between OfficeMax Incorporated, OfficeMax Southern Company, Minidoka Paper Company, Forest Products Holdings, L.L.C. and Boise Land & Timber Corp. The Company has agreed to provide indemnification with respect to a variety of obligations. These indemnification obligations are subject, in some cases, to survival periods, deductibles and caps. At December 25, 2021, the Company is not aware of any material liabilities arising from these indemnifications. Additionally, the Company retains certain guarantees in place with respect to the liabilities or obligations of the European Business and remains contingently liable for these obligations. However, the Purchaser must indemnify and hold the Company harmless for any losses in connection with these guarantees. The Company currently does not believe it is probable it would be required to perform under any of these guarantees or any of the underlying obligations.

LEGAL MATTERS

The Company is involved in litigation arising in the normal course of business. While, from time to time, claims are asserted that make demands for a large sum of money (including, from time to time, actions which are asserted to be maintainable as class action suits), the Company does not believe that contingent liabilities related to these matters (including the matters discussed below), either individually or in the aggregate, will materially affect the Company’s financial position, results of operations or cash flows.

In addition, in the ordinary course of business, sales to and transactions with government customers may be subject to lawsuits, investigations, audits and review by governmental authorities and regulatory agencies, with which the Company cooperates. Many of these lawsuits, investigations, audits and reviews are resolved without material impact to the Company. While claims in these matters may at times assert large demands, the Company does not believe that contingent liabilities related to these matters, either individually or in the aggregate, will materially affect its financial position, results of operations or cash flows.

On March 1, 2021, certain IT systems of CompuCom were affected by a malware incident which negatively impacted some services that CompuCom provides to certain of its customers. Certain CompuCom services were not impacted by the malware incident, and CompuCom continued to deliver certain services to those customers throughout March. CompuCom was able to substantially restore delivery capabilities as of March 17, 2021, and had restored its service delivery to substantially all of its customers as of the end of March 2021. As a part of the restoration efforts, CompuCom has taken actions to efficiently and securely restore service delivery to its customers while hardening its systems with enhanced security measures and advanced anti-malware agents. In the third quarter of 2021, the Company provided impacted customers and former and current associates with required notice. As of the fourth quarter 2021, the Company has concluded its analysis of the malware incident. While the Company does not expect further material developments, the Company will evaluate new information, if any, in the event any new information arises and will record an estimate for losses when it is both probable and reasonably estimable. Further, the Company may become subject to regulatory enforcement actions and litigation that could result in financial judgments or the payment of settlement amounts and disputes with insurance carriers concerning coverage.

In connection with the down time CompuCom experienced due to temporarily suspending certain services to certain customers, CompuCom had loss of service revenue of $6 million in 2021, which is within the Company’s previously disclosed estimate for total loss of service revenue due to the malware incident of between $5 million and $8 million. In addition, the Company expects to incur expenses of up to $15 million, of which the Company incurred $13 million in 2021. These expense estimates are primarily related to CompuCom’s efforts to restore service delivery to impacted customers, costs to investigate and remediate the incident, increased expenditures for cyber protection, legal and other professional services related thereto, and to address certain other matters resulting from the incident. The Company carries insurance, including cyber insurance, which it believes to be commensurate with the Company’s size and the nature of its operations and expects that a portion of these costs may be covered by insurance. The financial impact of the malware incident, as described above, is reflected within discontinued operations. On December 31, 2021, the Company sold CompuCom to an affiliate of Variant Equity. The purchase agreement includes standard indemnification provisions including for any third-party claims in connection with the malware incident which are not to exceed $10 million.

In addition to the foregoing, OfficeMax is named a defendant in a number of lawsuits, claims, and proceedings arising out of the operation of certain paper and forest products assets prior to those assets being sold in 2004, for which OfficeMax agreed to retain responsibility. Also, as part of that sale, OfficeMax agreed to retain responsibility for all pending or threatened proceedings and future proceedings alleging asbestos-related injuries arising out of the operation of the paper and forest products assets prior to the closing of the sale. The Company has made provision for losses with respect to the pending proceedings. Additionally, as of December 25, 2021, the Company has made provision for environmental liabilities with respect to certain sites where hazardous substances or other contaminants are or may be located. For these liabilities, the Company’s estimated range of reasonably possible losses was approximately $15 million to $25 million. The Company regularly monitors its estimated exposure to these liabilities. As additional information becomes known, these estimates may change, however, the Company does not believe any of these OfficeMax retained proceedings are material to the Company’s financial position, results of operations or cash flows.

Segment Information - Additional Information (Detail)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 25, 2021

USD ($)

^[1]

Sep. 25, 2021

USD ($)

^[1]

Jun. 26, 2021

USD ($)

^[1]

Mar. 27, 2021

USD ($)

^[1]

Dec. 26, 2020

USD ($)

^[1]

Sep. 26, 2020

USD ($)

^[1]

Jun. 27, 2020

USD ($)

^[1]

Mar. 28, 2020

USD ($)

^[1]

Dec. 25, 2021

USD ($)

Segment

Dec. 26, 2020

USD ($)

Dec. 28, 2019

USD ($)

Number of reportable segments | Segment

Sales | $

$ 2,042

$ 2,179

$ 2,070

$ 2,174

$ 2,085

$ 2,347

$ 1,947

$ 2,493

$ 8,465

$ 8,872

$ 9,667

Number of operating segments | Segment

Varis

Sales | $

$ 5

[1]	Due to rounding, the sum of the quarterly amounts may not equal the reported amounts for the year.

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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Revenue From Contract With Customer [Abstract]

REVENUE RECOGNITION (Tables)

12 Months Ended

Dec. 25, 2021

Summary of Disaggregated Revenue by Division, Major Product and Service Categories

The following table provides information about disaggregated revenue from continuing operations by Division, and major revenue categories.

	2021
(In millions)	Business Solutions Division		Retail Division		Other		Total
Major revenue categories
Supplies	$	2,423	$	1,382	$	10	$	3,815
Technology		1,165		1,586		7		2,758
Furniture and other		757		531		14		1,302
Copy and print		252		338		—		590
Total	$	4,597	$	3,837	$	31	$	8,465

	2020
(In millions)	Business Solutions Division		Retail Division		Other		Total
Major revenue categories
Supplies	$	2,545	$	1,449	$	12	$	4,006
Technology		1,195		1,816		3		3,014
Furniture and other		695		579		7		1,281
Copy and print		248		323		—		571
Total	$	4,683	$	4,167	$	22	$	8,872

	2019
(In millions)	Business Solutions Division		Retail Division		Other		Total
Major revenue categories
Supplies	$	3,001	$	1,743	$	16	$	4,760
Technology		1,238		1,749		2		2,989
Furniture and other		756		454		7		1,217
Copy and print		284		417		—		701
Total	$	5,279	$	4,363	$	25	$	9,667

Summary of Receivables, Contract Assets and Contract Liabilities from Contracts with Customers

The following table provides information about receivables, contract assets and contract liabilities from contracts with customers:

	December 25,		December 26,
(In millions)	2021		2020
Trade receivables, net	$	353	$	325
Short-term contract assets		16		15
Long-term contract assets		8		15
Short-term contract liabilities		52		50
Long-term contract liabilities		2		4

Schedule Of Reconciliation Of Changes In Projected Benefit Obligation, Fair Value Of Plan Assets And Funded Status Of Plan (Detail) - United Kingdom - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Defined Benefit Plan Disclosure [Line Items]
Obligation at beginning of period	$ 269	$ 236
Interest cost	4	5	$ 6
Plan settlements	(7)
Benefits paid	(5)	(8)
Actuarial (gain) loss	(1)	26
Currency translation	(3)	10
Obligation at end of period	257	269	236
Fair value of plan assets at beginning of period	360	312
Actual return on plan assets	12	41
Company contributions	2	2
Benefits paid	(4)	(8)
Currency translation	(5)	13
Fair value of plan assets at end of period	358	360	$ 312
Net amount recognized	$ 101	$ 91

Assumed Healthcare Cost Trend Rates (Detail) - North America	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Weighted average assumptions as of year-end:
Healthcare cost trend rate assumed for next year	6.20%	6.10%	6.20%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.00%	4.50%	4.50%
Year that the rate reaches the ultimate trend rate	2041	2029	2029

Severance and Facility Closure Costs (Detail) - USD ($) $ in Millions	1 Months Ended	12 Months Ended			20 Months Ended
	May 31, 2020	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019	Dec. 25, 2021
Restructuring Cost and Reserve [Line Items]
Beginning Balance		$ 42	$ 14
Charges Incurred		44	82
Cash Payments		(58)	(54)
Ending Balance		28	42	$ 14	$ 28
Maximize B2B Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Charges Incurred		14			95
Cash Payments		(24)
Business Acceleration Program
Restructuring Cost and Reserve [Line Items]
Charges Incurred			19	68
Comprehensive Business Review
Restructuring Cost and Reserve [Line Items]
Charges Incurred				8
Termination Benefits \| Maximize B2B Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Beginning Balance		27
Charges Incurred		(2)	35
Cash Payments		(6)	(8)
Ending Balance		19	27		19
Termination Benefits \| Business Acceleration Program
Restructuring Cost and Reserve [Line Items]
Beginning Balance		2	6
Cash Payments		(2)	(4)
Ending Balance			2	6
Other Costs Including Contract Termination Costs \| Maximize B2B Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Beginning Balance		10
Charges Incurred	$ 28	9	27
Cash Payments		(13)	(17)
Ending Balance		6	10		6
Other Costs Including Contract Termination Costs \| Business Acceleration Program
Restructuring Cost and Reserve [Line Items]
Beginning Balance		1	5
Charges Incurred			20
Cash Payments		(1)	(24)
Ending Balance			1	5
Other Costs Including Contract Termination Costs \| Comprehensive Business Review
Restructuring Cost and Reserve [Line Items]
Beginning Balance		2	3
Cash Payments		(1)	(1)
Ending Balance		1	$ 2	$ 3	1
Other Costs Including Contract Termination Costs \| USR Parent, Inc. Proposals
Restructuring Cost and Reserve [Line Items]
Charges Incurred		5
Cash Payments		(5)
Other Costs Including Contract Termination Costs \| Planned Separation of Consumer Business
Restructuring Cost and Reserve [Line Items]
Charges Incurred		32
Cash Payments		(30)
Ending Balance		$ 2			$ 2

Summary of the Activity in the Performance-Based Long-Term Incentive Program Since Inception (Detail) - Performance Based Stock Incentive Program - $ / shares

12 Months Ended

Dec. 25, 2021

Dec. 26, 2020

Dec. 28, 2019

^[2]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Outstanding at beginning of the period, Shares

2,458,978

^[1]

1,994,111

^[1],[2]

1,913,397

Granted, Shares

1,298,868

932,344

1,026,743

Vested, Shares

(1,374,442)

(151,905)

(284,366)

Forfeited, Shares

(207,573)

(315,572)

(661,663)

Outstanding at end of the period, Shares

^[1]

2,175,831

2,458,978

1,994,111

Outstanding at beginning of the period, Weighted Average Grant-Date Price

$ 24.22

^[1]

$ 29.05

^[1],[2]

$ 28.83

Granted, Weighted Average Grant-Date Price

41.44

19.42

31.00

Vested, Weighted Average Grant-Date Price

23.47

41.80

33.12

Forfeited, Weighted Average Grant-Date Price

28.71

27.10

28.87

Outstanding at end of the period, Weighted Average Grant-Date Price

^[1]

$ 29.33

$ 24.22

$ 29.05

[1]	Outstanding shares at the end of 2021 include 5.6 million shares of awards granted in 2020 that will be settled in cash in 2023. These awards are remeasured to fair value at each reporting period. The remeasurement impact was not material in 2021 and 2020.
[2]	As disclosed in Note 1, a 1-for-10 reverse stock split of the Company’s outstanding shares of common stock and a reduction in the number of authorized shares of the Company’s common stock by a corresponding ratio became effective on June 30, 2020. All shares and per share amounts have been retroactively adjusted for the 2019 period presented to give effect to this reverse stock split.

SEGMENT INFORMATION

12 Months Ended

Dec. 25, 2021

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 5. SEGMENT INFORMATION

At December 25, 2021, the Company had two reportable segments: Business Solutions Division and Retail Division. The Business Solutions Division sells nationally branded as well as the Company’s private branded office supply and adjacency products and services to customers in the United States, Puerto Rico, the U.S. Virgin Islands, and Canada. Business Solutions Division customers are served through a dedicated sales force, catalogs, telesales, and electronically through the Company’s Internet websites. The Retail Division includes a chain of retail stores in the United States, Puerto Rico and the U.S. Virgin Islands, which sell office supplies, technology products and solutions, business machines and related supplies, cleaning, breakroom and facilities products, personal protective equipment, and office furniture as well as offer business services including copying, printing, digital imaging, mailing, shipping and technology support services. In addition, the print needs for retail and business customers are also facilitated through the Company’s regional print production centers. During the third quarter of 2021, management obtained the Board of Directors’ alignment and committed to a plan to sell its CompuCom Division through a single disposal group. The CompuCom disposal group has met the accounting criteria to be classified as held for sale as of June 29, 2021 and is presented as discontinued operations for all periods presented. The sale of the CompuCom Division was completed on December 31, 2021. Refer to Note 17 for additional information.

The operating results of the Company’s Varis operating segment, which was created in 2021 and includes the operating results of BuyerQuest, did not meet the criteria to be reported as a reportable segment as its results are not significant. Accordingly, the operating results of Varis are presented as Other. Sales of Varis were $5 million in 2021. The retained global sourcing operations previously included in the former International Division are also not significant and have been presented as Other.

The products and services offered by the Business Solutions Division and the Retail Division are similar. The Company’s two operating segments are its two reportable segments. The Business Solutions Division and the Retail Division are managed separately as they represent separate channels in the way the Company serves its customers. The accounting policies for each segment are the same as those described in Note 1. Division operating income is determined based on the measure of performance reported internally to manage the business and for resource allocation. This measure charges to the respective Divisions those expenses considered directly or closely related to their operations and allocates support costs. Certain operating expenses and credits are not allocated to the Business Solutions Division or the Retail Division, including asset impairments and merger, restructuring and other operating expenses, as well as expenses and credits retained at the Corporate level, including certain management costs and legacy pension and environmental matters. Other companies may charge more or less of these items to their segments and results may not be comparable to similarly titled measures used by other entities. In addition, the Company regularly evaluates the appropriateness of the reportable segments based on how the business is managed, including decision-making about resources allocation and assessing performance of the segments, particularly in light of organizational changes, merger and acquisition activity and changing laws and regulations. Therefore, the current reportable segments may change in the future.

A summary of significant accounts and balances by segment, reconciled to consolidated totals, after the elimination of discontinued operations for all periods is as follows.

(In millions)		Business Solutions Division		Retail Division		Other			Corporate and Discontinued Operations*		Consolidated Total
Sales	2021	$	4,597	$	3,837	$	31		$	—	$	8,465
	2020		4,683		4,167		22			—		8,872
	2019		5,279		4,363		25			—		9,667
Division operating income (loss)	2021		119		306		(29	)		—		396
	2020		116		275		(1	)		—		390
	2019		271		194		—			—		465
Capital expenditures	2021		27		18		14			14		73
	2020		25		28		—			5		58
	2019		43		68		—			29		140
Depreciation and amortization	2021		65		67		3			11		146
	2020		66		80		—			11		157
	2019		66		91		—			8		165
Charges for losses on receivables and inventories	2021		2		20		—			—		22
	2020		9		24		—			—		33
	2019		—		25		—			—		25
Assets	2021		1,494		1,760		90			1,521		4,865
	2020		1,581		1,962		5			2,066		5,614

Amounts included in “Corporate and Discontinued Operations” consist of (i) assets (including all cash and cash equivalents) and depreciation related to corporate activities of continuing operations, and (ii) assets of discontinued operations amounting to $469 million at December 25, 2021 and $841 million at December 26, 2020.

A reconciliation of the measure of Division operating income to Consolidated income (loss) from continuing operations before income taxes is as follows:

(In millions)	2021			2020			2019
Division operating income	$	396		$	390		$	465
Add/(subtract):
Asset impairments		(20	)		(182	)		(56	)
Merger, restructuring and other operating expenses, net		(51	)		(102	)		(86	)
Unallocated expenses		(91	)		(100	)		(99	)
Interest income		1			4			22
Interest expense		(28	)		(42	)		(89	)
Loss on extinguishment and modification of debt		—			(12	)		—
Other income, net		24			6			21
Income (loss) from continuing operations before income taxes	$	231		$	(38	)	$	178

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Property Plant And Equipment [Abstract]

PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 25, 2021

PROPERTY AND EQUIPMENT

NOTE 8. PROPERTY AND EQUIPMENT

Property and equipment consists of:

	December 25,			December 26,
(In millions)	2021			2020
Land	$	45		$	45
Buildings		200			210
Computer software		693			659
Leasehold improvements		587			598
Furniture, fixtures and equipment		775			784
Construction in progress		12			22
		2,312			2,318
Less accumulated depreciation		(1,835	)		(1,776	)
Total	$	477		$	542

The above table of property and equipment includes assets held under finance leases as follows:

	December 25,			December 26,
(In millions)	2021			2020
Buildings	$	19		$	34
Furniture, fixtures and equipment		143			147
		162			181
Less accumulated depreciation		(123	)		(122	)
Total	$	39		$	59

Depreciation expense was $88 million in 2021, $101 million in 2020 and $110 million in 2019.

Included in computer software and construction in progress above are capitalized software costs of $699 million and $671 million at December 25, 2021 and December 26, 2020, respectively. The unamortized amounts of the capitalized software costs are $115 million and $121 million at December 25, 2021 and December 26, 2020, respectively. Amortization of capitalized software costs totaled $49 million, $50 million and $49 million in 2021, 2020 and 2019, respectively. Software development costs that do not meet the criteria for capitalization are expensed as incurred.

Estimated future amortization expense related to capitalized software at December 25, 2021 is as follows:

(In millions)
2022	$	38
2023		31
2024		23
2025		16
2026		7
Thereafter		—

The weighted average remaining amortization period for capitalized software is 4 years.

Fair Value of Plan Assets (Detail) - United Kingdom - USD ($) $ in Millions	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 358	$ 360	$ 312
Cash
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	9	3
Developed Markets Equity Fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	13	11
Emerging Markets Equity Fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4	4
Mutual Funds Real Estate
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2	20
Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	30	14
Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	49	49
UK Debt Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	154	140
Liability Term Matching Debt Fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	115	130
Emerging Markets Debt Fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2	1
High Yield Debt
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	29	37
Defined Benefit Plan, Debt Security
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	300	308
Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	26	18
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Cash
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	9	3
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Developed Markets Equity Fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	13	11
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Emerging Markets Equity Fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4	4
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	17	15
Significant Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	330	322
Significant Observable Inputs (Level 2) \| Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	30	14
Significant Observable Inputs (Level 2) \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	30	14
Significant Observable Inputs (Level 2) \| UK Debt Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	154	140
Significant Observable Inputs (Level 2) \| Liability Term Matching Debt Fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	115	130
Significant Observable Inputs (Level 2) \| Emerging Markets Debt Fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2	1
Significant Observable Inputs (Level 2) \| High Yield Debt
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	29	37
Significant Observable Inputs (Level 2) \| Defined Benefit Plan, Debt Security
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	300	308
Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2	20
Significant Unobservable Inputs (Level 3) \| Mutual Funds Real Estate
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2	20
Significant Unobservable Inputs (Level 3) \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 2	$ 20

SUBSEQUENT EVENTS

12 Months Ended

Dec. 25, 2021

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 19. SUBSEQUENT EVENTS

On December 31, 2021, the Company completed the sale of its CompuCom Division. Refer to Note 17 for further information.

In December 2021, the Company received a non-binding proposal from a third party other than USR Parent, Inc. to acquire the Company’s consumer business. The terms of that proposal are confidential. The Company’s Board of Directors is carefully reviewing this proposal as well as the proposal from USR Parent, Inc., with the assistance of its financial and legal advisors to determine the course of action that it believes is in the best interests of the Company and its shareholders. As a result, in January 2022, the Company has determined to delay further work on the Separation. See Note 1 for further information on the Separation.

MERGER, RESTRUCTURING AND OTHER ACTIVITY

12 Months Ended

Dec. 25, 2021

Merger Restructuring And Other Activity [Abstract]

MERGER, RESTRUCTURING AND OTHER ACTIVITY

NOTE 3. MERGER, RESTRUCTURING AND OTHER ACTIVITY

The Company has taken actions to optimize its asset base and drive operational efficiencies. These actions include acquiring profitable businesses, closing underperforming retail stores and non-strategic distribution facilities, consolidating functional activities, eliminating redundant positions and disposing of non-strategic businesses and assets. The expenses and any income recognized directly associated with these actions are included in Merger, restructuring and other operating expenses, net on a separate line in the Consolidated Statements of Operations in order to identify these activities apart from the expenses incurred to sell to and service customers. These expenses are not included in the determination of Division operating income. The table below summarizes the major components of Merger, restructuring and other operating expenses, net.

(In millions)	2021			2020		2019
Merger and transaction related expenses
Severance and retention	$	—		$	—	$	1
Transaction and integration		—			4		7
Facility closure, contract termination and other expenses, net		—			1		—
Total Merger and transaction related expenses		—			5		8
Restructuring expenses
Severance		(2	)		41		26
Professional fees		1			21		41
Facility closure, contract termination, and other expenses, net		15			35		11
Total Restructuring expenses, net		14			97		78
Other operating expenses
Professional fees		37			—		—
Total Other operating expenses		37			—		—
Total Merger, restructuring and other operating expenses, net	$	51		$	102	$	86

MERGER AND TRANSACTION RELATED EXPENSES

In 2021 the Company did not incur any merger and transaction related expenses. In 2020 and 2019, the Company incurred $5 million and $8 million, respectively, of merger and transaction related expenses. Severance and retention include expenses related to the integration of staff functions in connection with business acquisitions and are expensed through the severance and retention period. Transaction and integration include legal, accounting, and other third-party expenses incurred in connection with acquisitions and business integration activities. Facility closure, contract termination, and other expenses, net relate to facility closure accruals, contract termination costs, gains and losses on asset dispositions, and accelerated depreciation.

RESTRUCTURING EXPENSES

Maximize B2B Restructuring Plan

In May 2020, the Company’s Board of Directors approved a restructuring plan to realign the Company’s operational focus to support its “business-to-business” solutions and improve costs (“Maximize B2B Restructuring Plan”). Implementation of the Maximize B2B Restructuring Plan is expected to be substantially completed by the end of 2023. The Maximize B2B Restructuring Plan aims to generate savings through optimizing the Company’s retail footprint, removing costs that directly support the Retail business and additional measures to implement a company-wide low-cost business model, which will then be invested in accelerating the growth of the Company’s business-to-business platform. The plan is broader than restructuring programs the Company has implemented in the past and includes closing and/or consolidating retail stores and distribution facilities and the reduction of up to 13,100 employee positions by the end of 2023. The Company is evaluating the number and timing of retail store and distribution facility closures and/or consolidations. However, it is generally understood that closures will approximate the store’s lease termination date. The Company closed 111 retail stores under the Maximize B2B Restructuring Plan in 2021. The Company had closed 70 retail stores and two distribution facilities in 2020 under the Maximize B2B Restructuring Plan. It is anticipated that additional retail stores will be closed in 2022. Total estimated restructuring costs related to the Maximize B2B Restructuring Plan are expected to be up to $111 million, comprised of:

(a)

severance and related employee costs of approximately $49 million;

(b)

facility closure costs of approximately $34 million, which are mainly related to retail stores; and

(c)

other costs, including contract termination costs, to facilitate the execution of the Maximize B2B Restructuring Plan of approximately $28 million.

These total estimated restructuring costs of up to $111 million above are less than the Company’s estimate of total costs for this restructuring plan when it commenced, mainly as a result of the reduction in the number of expected retail store and distribution facility closures based upon the Company’s most recent evaluation of economic factors that influence expected store closures. There could be further fluctuations in the estimate of total expected costs in the future and timing of such costs as a result of an assessment of general market conditions and changes in the Company’s business strategy, including the potential sale of the consumer business or the Separation described in Note 1 above. In addition, the reduction of employee positions may also be impacted as a result of fewer retail store closures and the changes in the Company’s business strategy. The $111 million of total costs are expected to be cash expenditures through 2023 and funded primarily with cash on hand and cash from operations. The Company incurred $95 million in restructuring expenses to implement the Maximize B2B Restructuring Plan since its inception in 2020 and through 2021, of which $53 million were cash expenditures. Of these amounts, $6 million of restructuring expenses and $2 million of cash expenditures were related to the CompuCom Division which is now presented in discontinued operations.

In 2021, the Company incurred $14 million in restructuring expenses associated with the Maximize B2B Restructuring Plan which consisted of $1 million third-party professional fees, $18 million in facility closures, contract termination and other costs, partially offset by $2 million in reversals of employee severance accruals due to changes in estimates and a $3 million gain on sale of retail stores assets. The facility closure costs were mainly related to retail store closure accruals and accelerated depreciation. In 2021, the Company made cash payments of $24 million associated with expenditures for the Maximize B2B restructuring plan.

Other

Included in restructuring expenses in 2020 and 2019 are $19 million and $68 million, respectively, of costs incurred in connection with the Business Acceleration Program. These costs included third-party professional fees, retail and facility closure costs and other costs. The Business Acceleration Program was announced in 2019 and largely concluded at the end of 2020.

Additionally, restructuring expense in 2019 included $8 million of costs incurred in connection with the Comprehensive Business Review, a program announced in 2016 and concluded at the end of 2019. Under the Comprehensive Business Review, the Company closed a total of 208 retail stores, and the costs incurred included severance, facility closure costs, contract termination, accelerated depreciation, relocation and disposal gains and losses, as well as other costs associated with retail store closures.

Restructuring expenses in 2020 also included $3 million in third-party professional fees incurred in connection with the Reorganization.

Asset impairments related to the restructuring initiatives are not included in the table above. Refer to Note 15 for further information.

OTHER OPERATING EXPENSES

USR Parent, Inc. proposals

During the first quarter of 2021, the Company received two proposals from USR Parent, Inc., the parent company of Staples Inc. and a portfolio company of Sycamore Partners, to acquire 100% of the Company’s issued and outstanding stock or certain assets of the Company. After careful review and consideration of the proposals and in consultation with the Company’s financial and legal advisors, the Company’s Board of Directors unanimously concluded that the transactions described in the proposals were not in the best interest of the Company and its shareholders, and that there was a more compelling path forward to create value. The Company filed statements on Schedule 14D-9 with the SEC on January 19, 2021 and March 15, 2021 containing its Board of Directors’ recommendation. Also, on March 31, 2021, USR Parent, Inc. publicly announced that it decided to defer the March 2021 launch of a tender offer for the Company’s common stock while reserving the right to commence one in the future.

During the second quarter of 2021, the Company received a third proposal from USR Parent, Inc. to acquire the Company’s consumer business, including its retail stores, and reiterated its intention to commence a tender offer if negotiations for an alternative transaction are not successful. In November 2021, USR Parent, Inc. reaffirmed this third proposal to acquire the Company’s consumer business, and announced its decision to abandon its previously announced intent to commence a tender offer for all of the outstanding shares of the Company. The Company’s Board of Directors is carefully reviewing this proposal with the assistance of its financial and legal advisors to determine the course of action that it believes is in the best interests of the Company and its shareholders.

The Company incurred $5 million in third-party professional fees related to the evaluation of USR Parent, Inc.’s proposals in 2021, including expenses incurred in connection with a Civil Investigative Demand (“CID”) from the U.S. Federal Trade Commission (“FTC”), which is conducting an investigation of USR Parent, Inc.’s proposals. In order to relieve the Company from the continuation of a costly and burdensome process, the FTC has agreed to defer requiring further responses from the Company unless and until USR Parent, Inc. formally launches a tender offer or the parties execute a negotiated agreement. Additionally, on May 4, 2021 the Canadian Competition Bureau (the “Bureau”) advised the Company that it has determined that USR Parent, Inc.’s proposed acquisition of the Company would likely result in a substantial lessening or prevention of competition in the sale of business essentials to enterprise customers in Canada. While it is not known for certain what the Bureau would do if USR Parent, Inc. actually launches a tender offer in the future, the Bureau’s determination signals that the Bureau would likely challenge the acquisition. The Company cannot be certain that USR Parent, Inc. will not commence a tender offer in the future. The Company anticipates that it will incur additional significant legal and other expenses in the future if USR Parent, Inc. pursues a tender offer.

Planned Separation of Consumer Business

In May 2021, the Company’s Board of Directors unanimously approved a plan to pursue a separation of the Company into two independent, publicly traded companies, as further described in Note 1 above. The Company incurred $32 million in third-party professional fees associated with the Separation in 2021 related to the Separation. The execution of the Separation has been delayed, however, if executed, the Company expects to incur significant costs in connection with the Separation, which are expected to primarily be third-party professional fees related to investment banking, accounting, legal, consulting and other similar types of services associated with the Separation transaction, as well as costs associated with the operational separation of the two companies, such as those related to human resources, brand management, real estate and IT infrastructure. Separation costs also may include the costs associated with bonuses and restricted stock grants awarded to certain employees for retention through the Separation. The Company currently estimates that costs to complete the separation will exceed $100 million, although such estimate is subject to a number of assumptions and uncertainties.

MERGER AND RESTRUCTURING ACCRUALS

The activity in the merger and restructuring accruals in 2021 and 2020 is presented in the table below. Certain merger and restructuring charges are excluded from the table because they are paid as incurred or non-cash, such as accelerated depreciation and gains and losses on asset dispositions.

(In millions)	Beginning Balance		Charges Incurred			Cash Payments			Ending Balance
2021
Termination benefits:
Maximize B2B Restructuring Plan		27		(2	)		(6	)		19
Business Acceleration Program		2		—			(2	)		—
Lease and contract obligations, accruals for facilities closures and other costs:
Maximize B2B Restructuring Plan		10		9			(13	)		6
Business Acceleration Program		1		—			(1	)		—
Comprehensive Business Review		2		—			(1	)		1
USR Parent, Inc. proposals		—		5			(5	)		—
Planned separation of consumer business		—		32			(30	)		2
Total	$	42	$	44		$	(58	)	$	28
2020
Termination benefits:
Merger-related accruals	$	—	$	—		$	—		$	—
Maximize B2B Restructuring Plan		—		35			(8	)		27
Business Acceleration Program		6		—			(4	)		2
Lease and contract obligations, accruals for facilities closures and other costs:
Merger-related accruals		—		—			—			—
Maximize B2B Restructuring Plan		—		27			(17	)		10
Business Acceleration Program		5		20			(24	)		1
Comprehensive Business Review		3		—			(1	)		2
Total	$	14	$	82		$	(54	)	$	42

The short-term and long-term components of these liabilities are included in Accrued expenses and other current liabilities and Deferred income taxes and other long-term liabilities, respectively, in the Consolidated Balance Sheets.

REVENUE RECOGNITION

12 Months Ended

Dec. 25, 2021

Revenue From Contract With Customer [Abstract]

REVENUE RECOGNITION

NOTE 4. REVENUE RECOGNITION

REVENUE

As a result of the CompuCom Division’s presentation as discontinued operations, the Company’s level of service revenue is below 10% of the Company’s total revenue for all periods presented and accordingly, revenues and cost of sales from services and products are not separately disclosed in the Company’s Consolidated Statements of Operations. The Company updated its major revenue categories disclosed herein according to this presentation and period amounts have been reclassified to conform to the current period presentation.

The following table provides information about disaggregated revenue from continuing operations by Division, and major revenue categories.

	2021
(In millions)	Business Solutions Division		Retail Division		Other		Total
Major revenue categories
Supplies	$	2,423	$	1,382	$	10	$	3,815
Technology		1,165		1,586		7		2,758
Furniture and other		757		531		14		1,302
Copy and print		252		338		—		590
Total	$	4,597	$	3,837	$	31	$	8,465

	2020
(In millions)	Business Solutions Division		Retail Division		Other		Total
Major revenue categories
Supplies	$	2,545	$	1,449	$	12	$	4,006
Technology		1,195		1,816		3		3,014
Furniture and other		695		579		7		1,281
Copy and print		248		323		—		571
Total	$	4,683	$	4,167	$	22	$	8,872

	2019
(In millions)	Business Solutions Division		Retail Division		Other		Total
Major revenue categories
Supplies	$	3,001	$	1,743	$	16	$	4,760
Technology		1,238		1,749		2		2,989
Furniture and other		756		454		7		1,217
Copy and print		284		417		—		701
Total	$	5,279	$	4,363	$	25	$	9,667

Revenue includes the sale of:

•

Supplies such as paper, writing instruments, office supplies, cleaning and breakroom items, personal protective equipment, and product subscriptions;

•

Furniture and other products such as desks, seating, luggage, gift cards and warranties; and

•

Copy and print services, including managed print and fulfillment services.

REVENUE RECOGNITION AND SIGNIFICANT JUDGMENTS

CONTRACT BALANCES

The following table provides information about receivables, contract assets and contract liabilities from contracts with customers:

	December 25,		December 26,
(In millions)	2021		2020
Trade receivables, net	$	353	$	325
Short-term contract assets		16		15
Long-term contract assets		8		15
Short-term contract liabilities		52		50
Long-term contract liabilities		2		4

COSTS TO OBTAIN A CONTRACT

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Estimated Future Amortization Expense for Intangible Assets (Detail) - USD ($) $ in Millions	Dec. 25, 2021	Dec. 26, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
2022	$ 9
2023	5
2024	3
2025	3
2026	3
Thereafter	19
Net Carrying Amount	$ 42	$ 44

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Income Statement [Abstract]
Sales	$ 8,465	$ 8,872	$ 9,667
Cost of goods sold and occupancy costs	6,602	6,921	7,412
Gross profit	1,863	1,951	2,255
Selling, general and administrative expenses	1,558	1,661	1,889
Asset impairments	20	182	56
Merger, restructuring and other operating expenses, net	51	102	86
Operating income	234	6	224
Other income (expense):
Interest income	1	4	22
Interest expense	(28)	(42)	(89)
Loss on extinguishment and modification of debt		(12)
Other income, net	24	6	21
Income (loss) from continuing operations before income taxes	231	(38)	178
Income tax expense	44	25	51
Net income (loss) from continuing operations	187	(63)	127
Discontinued operations, net of tax	(395)	(256)	(28)
Net income (loss)	$ (208)	$ (319)	$ 99
Basic earnings (loss) per share
Continuing operations	$ 3.54	$ (1.20)	$ 2.32
Discontinued operations	(7.47)	(4.85)	(0.50)
Net basic earnings (loss) per share	(3.93)	(6.05)	1.82
Diluted earnings (loss) per share
Continuing operations	3.42	(1.20)	2.29
Discontinued operations	(7.21)	(4.85)	(0.50)
Net diluted earnings (loss) per share	$ (3.79)	$ (6.05)	$ 1.79

Schedule of Debt (Detail) - USD ($)
$ in Millions

Dec. 25, 2021

Dec. 26, 2020

Finance lease obligations

$ 17

^[1]

$ 21

Other current maturities of long-term debt

Finance lease obligations

^[1]

Other financing obligations

Revenue bonds, due in varying amounts periodically through 2029

228

354

Third Amended and Restated Credit Agreement

Long term debt

176

New Facilities loans under the Third Amended Credit Agreement, due 2025

100

American & Foreign Power Company, Inc. 5% debentures, due 2030

Quarterly Financial Information Disclosure [Abstract]

Long term debt

$ 15

[1]	Finance lease payments include $1 million related to options to extend lease terms that are reasonably certain of being exercised.

Anticipated Benefit Payments (Detail) - United Kingdom $ in Millions	Dec. 25, 2021 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2022	$ 12
2023	13
2024	13
2025	13
2026	14
Next five years	$ 75

Schedule of Quarterly Financial Data (Detail) - USD ($)
$ / shares in Units, $ in Millions

3 Months Ended

12 Months Ended

Dec. 25, 2021

^[1]

Sep. 25, 2021

^[1]

Jun. 26, 2021

^[1]

Mar. 27, 2021

^[1]

Dec. 26, 2020

^[1]

Sep. 26, 2020

^[1]

Jun. 27, 2020

^[1]

Mar. 28, 2020

^[1]

Dec. 25, 2021

Dec. 26, 2020

Dec. 28, 2019

Net sales

$ 2,042

$ 2,179

$ 2,070

$ 2,174

$ 2,085

$ 2,347

$ 1,947

$ 2,493

$ 8,465

$ 8,872

$ 9,667

Gross profit

432

504

432

495

451

547

372

582

1,863

1,951

2,255

Operating income (loss)

^[2]

104

^[2]

^[3]

102

^[3]

(198)

^[3]

234

224

Net income (loss) from continuing operations

(176)

187

(63)

127

Discontinued operations, net of tax

(306)

(108)

(10)

(13)

(263)

(3)

(395)

(256)

(28)

Net income (loss)

$ (274)

$ 101

$ (88)

$ 53

$ 18

$ 57

$ (439)

$ 45

$ (208)

$ (319)

$ 99

Basic earnings (loss) per share

$ 0.63

^[4]

$ 1.38

^[4]

$ 0.36

^[4]

$ 1.17

^[4]

$ 0.59

^[5]

$ 0.64

^[5]

$ (3.34)

^[5]

$ 0.90

^[5]

$ 3.54

$ (1.20)

$ 2.32

Net basic earnings (loss) per share

(6.07)

^[4]

0.54

^[4]

(1.98)

^[4]

(0.18)

^[4]

(0.24)

^[5]

0.43

^[5]

(5.00)

^[5]

(0.04)

^[5]

(7.47)

(4.85)

(0.50)

(5.44)

^[4]

1.92

^[4]

(1.62)

^[4]

0.99

^[4]

0.35

^[4]

1.07

^[4]

(8.34)

^[4]

0.86

^[4]

(3.93)

(6.05)

1.82

Diluted earnings (loss) per share

0.61

^[4]

1.33

^[4]

0.35

^[4]

1.12

^[4]

0.57

^[5]

0.63

^[5]

(3.34)

^[5]

0.88

^[5]

3.42

(1.20)

2.29

Net diluted earnings (loss) per share

(5.87)

^[4]

0.52

^[4]

(1.93)

^[4]

(0.17)

^[4]

(0.23)

^[5]

0.41

^[5]

(5.00)

^[5]

(0.04)

^[5]

(7.21)

(4.85)

(0.50)

$ (5.26)

^[4]

$ 1.85

^[4]

$ (1.58)

^[4]

$ 0.95

^[4]

$ 0.34

^[4]

$ 1.04

^[4]

$ (8.34)

^[4]

$ 0.84

^[4]

$ (3.79)

$ (6.05)

$ 1.79

[1]	Due to rounding, the sum of the quarterly amounts may not equal the reported amounts for the year.
[2]	Includes Merger, restructuring and other operating expenses, net totaling $13 million, $11 million, $13 million and $14 million in the first, second, third and fourth quarters of 2021, respectively. The first, second, third and fourth quarters of 2021 also include asset impairments of $12 million, $1 million, $5 million and $2 million, respectively.
[3]	Includes Merger, restructuring and other operating expenses, net totaling $12 million, $53 million, $24 million and $13 million in the first, second, third and fourth quarters of 2020, respectively. The first, second, third and fourth quarters of 2020 also include asset impairments of $12 million, $153 million, $10 million and $8 million, respectively.
[4]	The sum of the quarterly earnings (loss) per share does not equal the annual earnings (loss) per share due to differences in quarterly and annual weighted-average shares outstanding.
[5]	The sum of the quarterly earnings (loss) per share does not equal the annual earnings (loss) per share due to differences in quarterly and annual weighted-average shares outstanding. As disclosed in Note 1, a 1-for-10 reverse stock split of the Company’s outstanding shares of common stock and a reduction in the number of authorized shares of the Company’s common stock by a corresponding ratio became effective on June 30, 2020. All per share amounts have been retroactively adjusted for the prior periods presented to give effect to this reverse stock split.

Summary of Receivables, Contract Assets and Contract Liabilities from Contracts with Customers (Detail) - USD ($) $ in Millions	Dec. 25, 2021	Dec. 26, 2020
Contract With Customer Asset And Liability [Abstract]
Trade receivables, net	$ 353	$ 325
Short-term contract assets	16	15
Long-term contract assets	8	15
Short-term contract liabilities	52	50
Long-term contract liabilities	$ 2	$ 4

Segment Information (Detail) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 25, 2021

Sep. 25, 2021

^[1]

Jun. 26, 2021

^[1]

Mar. 27, 2021

^[1]

Dec. 26, 2020

Sep. 26, 2020

^[1]

Jun. 27, 2020

^[1]

Mar. 28, 2020

^[1]

Dec. 25, 2021

Dec. 26, 2020

Dec. 28, 2019

$ 2,042

^[1]

$ 2,179

$ 2,070

$ 2,174

$ 2,085

^[1]

$ 2,347

$ 1,947

$ 2,493

$ 8,465

$ 8,872

$ 9,667

396

390

465

140

Charges for losses on receivables and inventories

146

157

165

Operating Segments | Business Solutions Division

4,865

5,614

4,865

5,614

4,597

4,683

5,279

119

116

271

Charges for losses on receivables and inventories

Operating Segments | Retail Division

1,494

1,581

1,494

1,581

3,837

4,167

4,363

306

275

194

Charges for losses on receivables and inventories

1,760

1,962

1,760

1,962

Other

(29)

(1)

Corporate and Discontinued Operations

^[2]

^[2]

$ 8

^[2]

$ 1,521

$ 2,066

$ 1,521

$ 2,066

[1]	Due to rounding, the sum of the quarterly amounts may not equal the reported amounts for the year.
[2]	Amounts included in “Corporate and Discontinued Operations” consist of (i) assets (including all cash and cash equivalents) and depreciation related to corporate activities of continuing operations, and (ii) assets of discontinued operations amounting to $469 million at December 25, 2021 and $841 million at December 26, 2020.

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Income Taxes [Line Items]
Effective tax rate	19.00%	(66.00%)	29.00%
Effective income tax rate reconciliation, at federal statutory income tax rate, percent	21.00%
Unrecognized Tax Benefits	$ 13,000,000	$ 13,000,000	$ 13,000,000	$ 11,000,000
Net uncertain tax positions, if recognized affect effective tax rate	6,000,000
Unrecognized Tax Benefits results from positions if sustained offset by change in valuation allowance	7,000,000
Unrecognized tax benefits, accrued interest and penalties	7,000,000
Foreign
Income Taxes [Line Items]
Operating loss carry forwards	238,000,000
State
Income Taxes [Line Items]
Operating loss carry forwards	$ 866,000,000,000
State \| Minimum
Income Taxes [Line Items]
Operating loss carryforwards, expiration dates	2023
State \| Maximum
Income Taxes [Line Items]
Operating loss carryforwards, expiration dates	2040
State \| Expire in 2022
Income Taxes [Line Items]
Operating loss carry forwards	$ 52,000,000
Federal \| Capital loss carryover
Income Taxes [Line Items]
Capital loss carryover, amount to offset future capital gains	0
U.S. Federal Foreign
Income Taxes [Line Items]
Capital loss carryover, amount to offset future capital gains	$ 56,000,000
U.S. Federal Foreign \| Earliest Tax Year
Income Taxes [Line Items]
Tax credit carryforward, expiration year	2022
U.S. Federal Foreign \| Latest Tax Year
Income Taxes [Line Items]
Tax credit carryforward, expiration year	2024
State and Foreign
Income Taxes [Line Items]
Capital loss carryover, amount to offset future capital gains	$ 14,000,000
State and Foreign \| Earliest Tax Year
Income Taxes [Line Items]
Tax credit carryforward, expiration year	2023
State and Foreign \| Latest Tax Year
Income Taxes [Line Items]
Tax credit carryforward, expiration year	2028
State and Foreign \| Indefinite Carryforward
Income Taxes [Line Items]
Capital loss carryover, amount to offset future capital gains	$ 2,000,000
Deferred Income Taxes and Other Long-Term Liabilities
Income Taxes [Line Items]
Deferred income tax liabilities	$ 4,000,000	$ 4,000,000

Earnings (Loss) Per Share - Additional Information (Detail) shares in Millions		12 Months Ended
	May 11, 2020	Dec. 25, 2021 shares	Dec. 26, 2020 shares	Dec. 28, 2019 shares
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Reverse stock split	1-for-10		1-for-10
Reverse stock split ratio	0.1		0.1
Nonvested Stock Options and Shares
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Shares excluded from computation of diluted earnings per share			2	1
Nonvested Stock Options and Shares \| Maximum
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Shares excluded from computation of diluted earnings per share		1

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ (208)	$ (319)	$ 99
Other comprehensive income, net of tax, where applicable:
Foreign currency translation adjustments		2	21
Change in deferred pension, net of $6 million, $7 million and $6 million of deferred income taxes in 2021, 2020 and 2019, respectively	26	32	12
Total other comprehensive income, net of tax, where applicable	26	34	33
Comprehensive income (loss)	$ (182)	$ (285)	$ 132

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Amount after tax and reclassification adjustments of other comprehensive income (loss).

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Dec. 25, 2021	Jun. 26, 2021	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019	Dec. 31, 2008
Other Intangible Assets [Line Items]
Goodwill	$ 464,000,000		$ 464,000,000	$ 394,000,000
Trade Name	13,000,000		13,000,000	13,000,000
Amortization of intangible assets			9,000,000	6,000,000	$ 6,000,000
Impairment of definite-lived intangible assets			$ 0	0	0
Customer Relationships
Other Intangible Assets [Line Items]
Weighted average amortization period for the definite-lived intangible assets (in years)			10 years
Operating Segments \| Business Solutions Division
Other Intangible Assets [Line Items]
Goodwill, accumulated impairment loss				115,000,000		$ 349,000,000
Goodwill	318,000,000		$ 318,000,000	$ 316,000,000
Operating Segments \| CompuCom Division
Other Intangible Assets [Line Items]
Contract reporting unit margin percentage			16.00%
Goodwill impairment loss	112,000,000	$ 103,000,000
Goodwill	215,000,000		$ 215,000,000
Indefinite-lived intangible assets , fair value	$ 26,000,000		26,000,000
Impairment of other indefinite-lived intangible assets		$ 11,000,000			$ 2,000,000
Non cash impairment charges			$ 37,000,000

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Statement Of Income And Comprehensive Income [Abstract]
Change in deferred pension, deferred income taxes	$ 6	$ 7	$ 6

GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 25, 2021

GOODWILL AND OTHER INTANGIBLE ASSETS

NOTE 9. GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL

The components of goodwill by segment are provided in the following table:

(In millions)	Business Solutions Division		Retail Division		Other		Total
Balance as of December 26, 2020	$	316	$	78	$	—	$	394
Acquisitions		1		—		67		68
Purchase accounting adjustments		1		—		1		2
Balance as of December 25, 2021	$	318	$	78	$	68	$	464

Additions to goodwill relate to acquisitions made during 2021, as well as the impact of purchase accounting adjustments associated with 2021 and 2020 acquisitions. As disclosed in Note 2, these adjustments were insignificant individually and in the aggregate to the Company’s Consolidated Financial Statements. Goodwill balance in the Business Solutions Division in the table above is net of accumulated impairment loss of $349 million recognized in 2008 and $115 million recognized in 2020.

Goodwill and indefinite-lived intangible assets are tested for impairment annually as of the first day of fiscal month December or more frequently when events or changes in circumstances indicate that impairment may have occurred. The Company performed its fourth quarter 2021 annual goodwill impairment test using a quantitative assessment for its Contract, CompuCom, and Varis reporting units, and qualitative assessments for all other reporting units. The Contract reporting unit is a component of the Business Solutions Division segment, and the Varis reporting unit comprises the Varis segment, which was created in 2021 and is presented in Other. The CompuCom reporting unit is classified as discontinued operations; refer to Note 17 for further information.

The quantitative assessment for the Contract and Varis reporting units combined the income approach and the market approach valuation methodologies and concluded that the fair value of these reporting units exceed their carrying amounts. The margin of passage for the Contract reporting unit was 16%. The quantitative assessment for the CompuCom reporting unit was based on the fair value of the CompuCom Division, indicated by the terms of the sales and purchase agreement related to its sale, and resulted in an impairment charge of $112 million in the fourth quarter of 2021, reducing the goodwill for this reporting unit to zero. The Company had previously recorded a goodwill impairment charge of $103 million for the CompuCom reporting unit during the second quarter of 2021, based on an interim quantitative goodwill impairment test that was determined to be required due to the continued macroeconomic impacts of COVID-19 on CompuCom’s current and projected future results of operations as further described below. These non-cash goodwill impairment charges associated with the CompuCom reporting unit totaling $215 million are presented within the Discontinued operations, net of tax line for 2021 in the accompanying Consolidated Statements of Operations. At December 25, 2021, the CompuCom reporting unit does not have remaining goodwill in the accompanying Consolidated Balance Sheets.

The decline in the fair value of the CompuCom reporting unit has resulted from continued macroeconomic impacts of COVID-19, particularly as it relates to the disruptions to the operations of its business customers, which lowered the projected revenue growth rate and profitability level of the reporting unit. The duration of the impacts of the pandemic are expected to be longer than previously anticipated for CompuCom, which has significantly impacted the Company’s expectations on timing for its customers returning back to levels of historical operations, impacting annuity-based and project-based service revenues, as well as product revenues. In addition, the Company has experienced an increase in product costs due to supply constraints, which had a negative impact on its profitability levels, and is expected to further impact future periods. The consideration of incremental risk associated with the continued uncertainty related to the pace of the economic recovery was also a factor that contributed to the decline in the fair values of the reporting unit.

The fair value estimate for the CompuCom reporting unit during the second quarter of 2021 was based on a blended analysis of the present value of future discounted cash flows and market value approach. The significant estimates used in the discounted cash flow model included the Company’s weighted average cost of capital, projected cash flows and the long-term rate of growth. The assumptions were based on the actual historical performance of the reporting unit and took into account the recent and continued weakening of operating results as well as the anticipated rate of recovery, and implied risk premiums based on market prices of the Company’s equity and debt as of the assessment date. Significant estimates in the market approach model included identifying similar companies with comparable business factors such as size, growth, profitability, risk and return on investment and assessing comparable revenue and earnings multiples in estimating the fair value of the reporting unit. The fair value estimate for the

CompuCom reporting unit during the fourth quarter of 2021 was based on the estimated consideration for the sale of the CompuCom Division, and used the terms of the sales and purchase agreement related to its sale as key inputs, as noted above. The estimated fair value included consideration expected to be received, after accounting for adjustments allowed by the sales and purchase agreement for indebtedness, net working capital, and excess cash, as well as any contingent consideration.

The Company will continue to evaluate the recoverability of goodwill at the reporting unit level on an annual basis and whenever events or changes in circumstances indicate there may be a potential impairment. If the operating results of the Company’s reporting units deteriorate in the future, it may cause the fair value of one or more of the reporting units to fall below their carrying value, resulting in additional goodwill impairment charges.

INDEFINITE-LIVED INTANGIBLE ASSETS

The Company had $13 million of trade names as of both December 25, 2021 and December 26, 2020. These indefinite-lived intangible assets are included in Other intangible assets, net in the Consolidated Balance Sheets.

The Company performed its annual indefinite-lived intangible assets impairment test on the first day of fiscal month December in 2021. The CompuCom trade name, which is an indefinite-lived intangible asset, was tested for impairment using the relief from royalty method as part of this assessment, and was determined to be impaired as its carrying value exceeded its fair value by $26 million. The Company had previously performed an interim impairment test on the CompuCom trade name during the second quarter of 2021 due to indicators of impairment identified related to the CompuCom reporting unit. This interim test was also performed using the relief from royalty method and resulted in an impairment charge of $11 million in the second quarter of 2021. These non-cash impairment charges totaling $37 million are presented within the Discontinued operations, net of tax line for 2021 in the accompanying Consolidated Statements of Operations.

The Company recognized $2 million of impairment charges to its other indefinite-lived intangible assets in 2019.

DEFINITE INTANGIBLE ASSETS

Definite-lived intangible assets, which are included in Other intangible assets, net in the Consolidated Balance Sheets, are as follows:

	December 25, 2021
(In millions)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer relationships	$	122	$	(84	)	$	38
Technology		6		(2	)		4
Total	$	128	$	(86	)	$	42

	December 26, 2020
(In millions)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer relationships	$	122	$	(78	)	$	44
Technology		—		—			—
Total	$	122	$	(78	)	$	44

Definite-lived intangible assets generally are amortized using the straight-line method. The remaining weighted average amortization periods for customer relationships is 10 years.

Amortization of intangible assets was $9 million in 2021, $6 million in 2020 and $6 million in 2019. Intangible assets amortization expenses are included in the Consolidated Statements of Operations in Selling, general and administrative expenses.

Estimated future amortization expense for the intangible assets is as follows:

(In millions)
2022	$	9
2023		5
2024		3
2025		3
2026		3
Thereafter		19
Total	$	42

Definite-lived intangible assets are reviewed whenever events and circumstances indicate the carrying amount may not be recoverable and the remaining useful lives are appropriate. No impairment charges related to definite-lived intangible assets were recognized during 2021, 2020 and 2019.

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 25, 2021

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Assets and Liabilities

The following table presents information about financial instruments at the balance sheet dates indicated.

	December 25,				December 26,
	2021				2020
(In millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets:
Company-owned life insurance		137		137		147		147
Financial liabilities:
Long-term debt:
New Facilities loans under the Third Amended Credit Agreement, due 2025		100		100		100		100
Revenue bonds, due in varying amounts periodically through 2029		75		76		176		177
American & Foreign Power Company, Inc. 5% debentures, due 2030		15		16		15		14

LEASES

12 Months Ended

Dec. 25, 2021

Schedule of Components of Income (Loss) from Continuing Operations Before Income Taxes

LEASES

NOTE 11. LEASES

The Company leases retail stores and other facilities, vehicles, and equipment under operating lease agreements. Facility leases typically are for a fixed non-cancellable term with one or more renewal options. In addition to rent payments, the Company is required to pay certain variable lease costs such as real estate taxes, insurance and common-area maintenance on most of the facility leases. For leases beginning in 2019, the Company accounts for lease components (e.g., fixed payments including rent) and non-lease components (e.g., real estate taxes, insurance costs and common-area maintenance costs) as a single lease component. Certain leases contain provisions for additional rent to be paid if sales exceed a specified amount, though such payments have been immaterial during the periods presented, and are recognized as variable lease cost. The Company subleases certain real estate to third parties, consisting mainly of operating leases for space within the retail stores.

The components of lease expense were as follows:

(In millions)	2021			2020			2019
Finance lease cost:
Amortization of right-of-use assets	$	18		$	18		$	17
Interest on lease liabilities		3			4			5
Operating lease cost		350			402			419
Short-term lease cost		4			6			5
Variable lease cost		99			112			118
Sublease income		(2	)		(2	)		(2	)
Total lease cost	$	472		$	540		$	562

Supplemental cash flow information related to leases was as follows:

(In millions)	2021		2020		2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from finance leases	$	3	$	4	$	5
Operating cash flows from operating leases		408		447		473
Financing cash flows from finance leases		22		20		21
Right-of-use assets obtained in exchange for new finance lease liabilities		3		29		27
Right-of-use assets obtained in exchange for new operating lease liabilities		127		117		327

Supplemental balance sheets information related to leases was as follows:

	December 25,			December 26,
(In millions, except lease term and discount rate)	2021			2020
Property and equipment, net	$	39		$	59
Operating lease right-of-use assets		936			1,107
Accrued expenses and other current liabilities		304			334
Short-term borrowings and current maturities of long-term debt		17			21
Long-term debt, net of current maturities		35			57
Operating lease liabilities		753			935
Weighted-average remaining lease term – finance leases	4			5
Weighted-average remaining lease term – operating leases	5			5
Weighted-average discount rate – finance leases		5.0	%		5.4	%
Weighted-average discount rate – operating leases		5.8	%		6.4	%

Maturities of lease liabilities as of December 25, 2021 were as follows:

	December 25, 2021
	Operating			Finance
(In millions)	Leases⁽¹⁾			Leases⁽²⁾
2022	$	358		$	19
2023		283			15
2024		199			8
2025		134			7
2026		102			5
Thereafter		140			3
		1,216			57
Less imputed interest		(159	)		(5	)
Total	$	1,057		$	52

Reported as of December 25, 2021
Accrued expenses and other current liabilities	$	304		$	—
Short-term borrowings and current maturities of long-term debt		—			17
Long-term debt, net of current maturities		—			35
Operating lease liabilities		753			—
Total	$	1,057		$	52

(1)	Operating lease payments include $77 million related to options to extend lease terms that are reasonably certain of being exercised.

(2)	Finance lease payments include $1 million related to options to extend lease terms that are reasonably certain of being exercised.

Reconciliation of the Change in Fair Value of the Pension Plan Assets Calculated based on Level 3 Inputs (Detail) - Significant Unobservable Inputs (Level 3) - United Kingdom $ in Millions	12 Months Ended
	Dec. 25, 2021 USD ($)
Schedule of Pension Plan Assets by Fair Value [Line Items]
Balance at December 26, 2020	$ 20
Actual return on plan assets	(1)
Net sales	(17)
Balance at December 25, 2021	$ 2

Schedule of Quarterly Financial Data (Parenthetical) (Detail) $ in Millions		3 Months Ended								12 Months Ended
	May 11, 2020	Dec. 25, 2021 USD ($)	Sep. 25, 2021 USD ($)	Jun. 26, 2021 USD ($)	Mar. 27, 2021 USD ($)	Dec. 26, 2020 USD ($)	Sep. 26, 2020 USD ($)	Jun. 27, 2020 USD ($)	Mar. 28, 2020 USD ($)	Dec. 25, 2021 USD ($)	Dec. 26, 2020 USD ($)	Dec. 28, 2019 USD ($)
Quarterly Financial Information Disclosure [Abstract]
Merger, restructuring and other operating expenses, net		$ 14	$ 13	$ 11	$ 13	$ 13	$ 24	$ 53	$ 12	$ 51	$ 102	$ 86
Asset impairments		$ 2	$ 5	$ 1	$ 12	$ 8	$ 10	$ 153	$ 12	$ 20	$ 182	$ 56
Reverse stock split	1-for-10										1-for-10
Reverse stock split ratio	0.1										0.1

Major Component of Discontinued Operations, Net of Tax (Detail) - Discontinued Operations, Held-for-Sale - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Major components of discontinued operations before income taxes:
Sales	$ 802	$ 838	$ 980
Cost of goods and occupancy costs	645	657	771
Gross profit	157	181	209
Selling, general and administrative expenses	152	171	212
Asset impairments	252	248
Merger, restructuring and other operating expenses, net	(2)	20	30
Operating loss	(245)	(258)	(33)
Other income (expense), net	(1)	1
Loss from major components of discontinued operations before income taxes	(246)	(257)	(33)
Loss from classification to held for sale	(170)
Loss from discontinued operations before income taxes	(416)	(257)	(33)
Income tax benefit	(21)	(1)	(5)
Discontinued operations, net of tax	$ (395)	$ (256)	$ (28)

INCOME TAXES (Tables)

12 Months Ended

Dec. 25, 2021

Income Tax Disclosure [Abstract]

The components of income (loss) from continuing operations before income taxes consisted of the following:

(In millions)	2021		2020			2019
United States	$	173	$	(30	)	$	151
Foreign		58		(8	)		27
Total income (loss) from continuing operations before income taxes	$	231	$	(38	)	$	178

Schedule Income Tax Expense (Benefit) Related to Income (Loss) From Continuing Operations

The income tax expense (benefit) related to income (loss) from continuing operations consisted of the following:

(In millions)	2021		2020			2019
Current:
Federal	$	14	$	(7	)	$	(57	)
State		8		17			4
Foreign		5		4			7
Deferred:
Federal		13		19			84
State		2		(5	)		10
Foreign		2		(3	)		3
Total income tax expense	$	44	$	25		$	51

Reconciliation of Income Taxes at The Federal Statutory Rate to The Provision for Income Taxes

The following is a reconciliation of income taxes at the U.S. Federal statutory rate to the provision for income taxes:

(In millions)	2021			2020			2019
Federal tax computed at the statutory rate	$	48		$	(8	)	$	37
State taxes, net of Federal benefit		10			4			8
Foreign income taxed at rates other than Federal		(5	)		4			(2	)
Increase (decrease) in valuation allowance		(3	)		(3	)		8
Non-deductible Goodwill impairments		—			24			—
Other non-deductible expenses and settlements		5			4			3
Tax basis differences in investment in subsidiaries		—			—			—
Non-taxable income and additional deductible expenses		(3	)		(3	)		(4	)
Change in unrecognized tax benefits		—			—			2
Impact of stock compensation shortfall		(6	)		2			—
Other items, net		(2	)		1			(1	)
Income tax expense	$	44		$	25		$	51

Schedule of Components Deferred Income Tax Assets and Liabilities

The components of deferred income tax assets and liabilities consisted of the following:

	December 25,			December 26,
(In millions)	2021			2020
U.S. and foreign loss carryforwards	$	61		$	71
Operating lease right-of-use assets		273			327
Pension and other accrued compensation		47			52
Basis difference in subsidiary held for sale		23			—
Accruals for facility closings		2			2
Inventory		7			8
Self-insurance accruals		14			15
Deferred revenue		10			11
U.S. and foreign income tax credit carryforwards		70			78
Allowance for bad debts		5			5
Accrued expenses		18			19
Basis difference in fixed assets		36			36
Gross deferred tax assets		566			624
Valuation allowance		(93	)		(99	)
Deferred tax assets		473			525
Internal software		2			3
Operating lease liabilities		251			297
Intangibles		5			8
Undistributed foreign earnings		—			2
Deferred tax liabilities		258			310
Net deferred tax assets	$	215		$	215

Summary of Valuation Allowances

The following summarizes the activity related to valuation allowances for deferred tax assets:

(In millions)	2021			2020			2019
Beginning balance	$	99		$	100		$	92
Additions, charged to expense		—			2			8
Reductions		(6	)		(3	)		—
Ending balance	$	93		$	99		$	100

Summary of Activity Related to Unrecognized Tax Benefits

The following table summarizes the activity related to unrecognized tax benefits:

(In millions)	2021		2020		2019
Beginning balance	$	13	$	13	$	11
Increase related to current year tax positions		—		—		2
Ending balance	$	13	$	13	$	13

STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 25, 2021

Equity [Abstract]

Accumulated Other Comprehensive Loss Activity, Net of Tax

Accumulated other comprehensive loss activity, net of tax, where applicable, is provided in the following tables:

(In millions)	Foreign Currency Translation Adjustments			Change in Deferred Pension			Total
Balance at December 26, 2020	$	(27	)	$	(5	)	$	(32	)
Other comprehensive income activity		—			32			32
Tax impact		—			(6	)		(6	)
Total other comprehensive income, net of tax, where applicable		—			26			26
Balance at December 25, 2021	$	(27	)	$	21		$	(6	)

(In millions)	Foreign Currency Translation Adjustments			Change in Deferred Pension			Total
Balance at December 28, 2019	$	(29	)	$	(37	)	$	(66	)
Other comprehensive income activity		2			39			41
Tax impact		—			(7	)		(7	)
Total other comprehensive income, net of tax, where applicable		2			32			34
Balance at December 26, 2020	$	(27	)	$	(5	)	$	(32	)

Schedule of Fair Value of Assets and Liabilities (Detail) - USD ($) $ in Millions	Dec. 25, 2021	Dec. 26, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Company-owned life insurance	$ 137	$ 147
Long-Term Debt \| New Facilities loans Under Third Amended Credit Agreement due 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	100	100
Revenue bonds, due in varying amounts periodically through 2029 \| Long-Term Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	76	177
American & Foreign Power Company, Inc. 5% debentures, due 2030 \| Long-Term Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	16	14
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Company-owned life insurance	137	147
Carrying Amount \| Long-Term Debt \| New Facilities loans Under Third Amended Credit Agreement due 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	100	100
Carrying Amount \| Revenue bonds, due in varying amounts periodically through 2029 \| Long-Term Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	75	176
Carrying Amount \| American & Foreign Power Company, Inc. 5% debentures, due 2030 \| Long-Term Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 15	$ 15

Schedule of Goodwill by Segment (Detail) $ in Millions	12 Months Ended
Schedule of Goodwill by Segment (Detail) $ in Millions	Dec. 25, 2021 USD ($)
Goodwill [Line Items]
Balance as of December 26, 2020	$ 394
Acquisitions	68
Purchase accounting adjustments	2
Balance as of December 25, 2021	464
Other
Goodwill [Line Items]
Acquisitions	67
Purchase accounting adjustments	1
Balance as of December 25, 2021	68
Operating Segments \| Business Solutions Division
Goodwill [Line Items]
Balance as of December 26, 2020	316
Acquisitions	1
Purchase accounting adjustments	1
Balance as of December 25, 2021	318
Operating Segments \| Retail Division
Goodwill [Line Items]
Balance as of December 26, 2020	78
Balance as of December 25, 2021	$ 78

Debt - Additional Information (Detail)		3 Months Ended	12 Months Ended
Debt - Additional Information (Detail)	Apr. 17, 2020 USD ($) Sub-facility	Sep. 26, 2020 USD ($)	Dec. 25, 2021 USD ($)	Dec. 26, 2020 USD ($)	Dec. 31, 2021 USD ($)	Jun. 27, 2020 USD ($)
Debt Instrument [Line Items]
Loss on extinguishment and modification of debt				$ 12,000,000
Global Availability
Debt Instrument [Line Items]
Minimum availability level of borrowings to avoid cash settlement percentage			12.50%
Revenue bonds, due in varying amounts periodically through 2029
Debt Instrument [Line Items]
Senior secured notes, due date			2029	2029
American & Foreign Power Company, Inc. 5% debentures, due 2030
Debt Instrument [Line Items]
Senior secured notes, due date			2030	2030
Long-term debt, interest rate			5.00%	5.00%
Third Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity under credit facility	$ 1,300,000,000
Maturity date of debt	Apr. 17, 2025			Apr. 17, 2025
Borrowing under credit facility						$ 400,000,000
Minimum availability level of borrowings to avoid fixed charge coverage ratio test percentage			10.00%
Excess of debt default amount resulting termination of Facility			$ 25,000,000
Excess acquisition of ownership percentage resulting termination of Facility			40.00%
Debt issuance costs				$ 6,000,000
Repayment of credit agreement		$ 300,000,000
Loss on extinguishment and modification of debt	$ 12,000,000
Available credit under the facility			$ 877,000,000
Third Amended and Restated Credit Agreement \| Subsequent Event \| CompuCom
Debt Instrument [Line Items]
Available credit under the facility					$ 776,000,000
Third Amended and Restated Credit Agreement \| Federal Funds Rate Plus
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			0.50%
Third Amended and Restated Credit Agreement \| LIBOR
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			1.00%
Third Amended and Restated Credit Agreement \| Asset-based Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity under credit facility	1,200,000,000
Credit agreement, increased borrowing capacity	$ 250,000,000
Number of revolving loan sub-facilities \| Sub-facility	2
Revolving loans outstanding			$ 0
Third Amended and Restated Credit Agreement \| Asset-based First-in, Last-out Term Loan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity under credit facility	$ 100,000,000
Borrowing under credit facility			100,000,000
Third Amended and Restated Credit Agreement \| Revolving Loan Sub-facility One
Debt Instrument [Line Items]
Borrowing under credit facility	1,150,000,000
Third Amended and Restated Credit Agreement \| Revolving Loan Sub-facility One \| Letter Of Credit Sub Facility
Debt Instrument [Line Items]
Borrowing under credit facility	400,000,000
Third Amended and Restated Credit Agreement \| Revolving Loan Sub-facility One \| Swing Line Loan Facility
Debt Instrument [Line Items]
Borrowing under credit facility	115,000,000
Third Amended and Restated Credit Agreement \| Revolving Loan Sub-facility Two
Debt Instrument [Line Items]
Borrowing under credit facility	50,000,000
Third Amended and Restated Credit Agreement \| Revolving Loan Sub-facility Two \| Letter Of Credit Sub Facility
Debt Instrument [Line Items]
Borrowing under credit facility	25,000,000
Third Amended and Restated Credit Agreement \| Revolving Loan Sub-facility Two \| Swing Line Loan Facility
Debt Instrument [Line Items]
Borrowing under credit facility	5,000,000
Third Amended and Restated Credit Agreement \| Standby Letter of Credit
Debt Instrument [Line Items]
Borrowing under credit facility			$ 49,000,000
Term Loan Facility
Debt Instrument [Line Items]
Repayment of credit agreement	388,000,000
Borrowings and Interest Associated with Company Owned Life Insurance Policies
Debt Instrument [Line Items]
Repayment of credit agreement	$ 66,000,000

Assumptions Used in Calculating Funded Status (Detail) - United Kingdom	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on plan assets	2.03%	1.64%	1.76%
Discount rate	1.80%	1.40%	2.10%
Inflation	3.20%	2.70%	2.90%

DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 25, 2021

Discontinued Operations And Disposal Groups [Abstract]

Major Component of Discontinued Operations, Net of Tax and Major Classes of Assets and Liabilities of Disposal Group Classified as Held for Sale

The following table represents a reconciliation of the major components of Discontinued operations, net of tax presented in the Consolidated Statements of Operations.

(In millions)	2021			2020			2019
Major components of discontinued operations before income taxes:
Sales	$	802		$	838		$	980
Cost of goods and occupancy costs		645			657			771
Gross profit		157			181			209
Selling, general and administrative expenses		152			171			212
Asset impairments		252			248			—
Merger, restructuring and other operating expenses, net		(2	)		20			30
Operating loss		(245	)		(258	)		(33	)
Other income (expense), net		(1	)		1			—
Loss from major components of discontinued operations before income taxes		(246	)		(257	)		(33	)
Loss from classification to held for sale		(170	)		—			—
Loss from discontinued operations before income taxes		(416	)		(257	)		(33	)
Income tax benefit		(21	)		(1	)		(5	)
Discontinued operations, net of tax	$	(395	)	$	(256	)	$	(28	)

	December 25,			December 26,
(In millions)	2021			2020
Major classes of assets included in discontinued operations:
Cash and cash equivalents	$	23		$	—
Receivables, net		221			189
Inventories		20			14
Prepaid expenses and other current assets		15			16
Total current assets					219
Property and equipment, net		25			26
Operating lease right-of-use assets		66			62
Goodwill		—			214
Other intangible assets, net		255			301
Other assets		14			19
Total noncurrent assets					622
Less: valuation allowance		(170	)
Total assets of the disposal group classified as held for sale	$	469		$	841
Major classes of liabilities included in discontinued operations:
Trade accounts payable	$	83		$	62
Accrued expenses and other current liabilities		86			90
Total current liabilities					152
Deferred income taxes and other long-term liabilities		75			82
Operating lease liabilities		46			56
Total noncurrent liabilities					138
Total liabilities of the disposal group classified as held for sale	$	290		$	290

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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Definite Lived Intangible Assets Included in Other Intangible Assets Net (Detail) - USD ($) $ in Millions	Dec. 25, 2021	Dec. 26, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 128	$ 122
Accumulated Amortization	(86)	(78)
Net Carrying Amount	42	44
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	122	122
Accumulated Amortization	(84)	(78)
Net Carrying Amount	38	$ 44
Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	6
Accumulated Amortization	(2)
Net Carrying Amount	$ 4

Allocation of Pension Plan Assets by Category (Detail)	Dec. 25, 2021	Dec. 26, 2020
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets	100.00%	100.00%
Cash
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets	1.00%	1.00%
Common Collective Trust Funds
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets	99.00%	99.00%

Merger, Restructuring and Other Activity - Additional Information (Detail) $ in Millions	1 Months Ended		3 Months Ended	12 Months Ended				20 Months Ended
	May 31, 2021 USD ($)	May 31, 2020 USD ($) Employee	Mar. 27, 2021 Proposal	Dec. 25, 2021 USD ($) Store Company	Dec. 26, 2020 USD ($) Store Facility	Dec. 28, 2019 USD ($) Store	Dec. 29, 2018 USD ($)	Dec. 25, 2021 USD ($) Company
Merger Restructuring And Other Activity [Line Items]
Transaction and integration expenses				$ 0	$ 5		$ 8
Costs to implement restructuring plan				44	82
Restructuring cash expenditure				58	54
Number of proposal received \| Proposal			2
Proposal received to acquire issued and outstanding stock or certain assets in percentage			100.00%
Professional fees				5	21	$ 41
Third-Party Professional Fees
Merger Restructuring And Other Activity [Line Items]
Costs to implement restructuring plan					$ 3
Maximize B2B Restructuring Plan
Merger Restructuring And Other Activity [Line Items]
Costs to implement restructuring plan				$ 14				$ 95
Number of retail stores closed \| Store				111	70
Number of distribution facilities closed \| Facility					2
Gain on sale of retail stores assets				$ 3
Restructuring cash expenditure				24
Maximize B2B Restructuring Plan \| CompuCom Division \| Discontinued Operations
Merger Restructuring And Other Activity [Line Items]
Costs to implement restructuring plan								6
Maximize B2B Restructuring Plan \| Cash Expenditures
Merger Restructuring And Other Activity [Line Items]
Costs to implement restructuring plan								53
Maximize B2B Restructuring Plan \| Cash Expenditures \| CompuCom Division \| Discontinued Operations
Merger Restructuring And Other Activity [Line Items]
Costs to implement restructuring plan								2
Maximize B2B Restructuring Plan \| Severance and Related Employee Costs
Merger Restructuring And Other Activity [Line Items]
Costs to implement restructuring plan		$ 49		2
Maximize B2B Restructuring Plan \| Retail Store and Facility Closure Costs
Merger Restructuring And Other Activity [Line Items]
Costs to implement restructuring plan		34		18
Maximize B2B Restructuring Plan \| Other Costs Including Contract Termination Costs
Merger Restructuring And Other Activity [Line Items]
Costs to implement restructuring plan		$ 28		9	$ 27
Restructuring cash expenditure				13	17
Maximize B2B Restructuring Plan \| Third-Party Professional Fees
Merger Restructuring And Other Activity [Line Items]
Costs to implement restructuring plan				1
Maximize B2B Restructuring Plan \| Maximum
Merger Restructuring And Other Activity [Line Items]
Number of expected reduction in employee position \| Employee		13,100
Costs to implement restructuring plan		$ 111
Maximize B2B Restructuring Plan \| Maximum \| Cash Expenditures
Merger Restructuring And Other Activity [Line Items]
Costs to implement restructuring plan	$ 111	$ 111
Business Acceleration Program
Merger Restructuring And Other Activity [Line Items]
Costs to implement restructuring plan					19	68
Business Acceleration Program \| Other Costs Including Contract Termination Costs
Merger Restructuring And Other Activity [Line Items]
Costs to implement restructuring plan					20
Restructuring cash expenditure				1	24
Comprehensive Business Review
Merger Restructuring And Other Activity [Line Items]
Costs to implement restructuring plan						$ 8
Number of retail stores closed \| Store						208
Comprehensive Business Review \| Other Costs Including Contract Termination Costs
Merger Restructuring And Other Activity [Line Items]
Restructuring cash expenditure				1	$ 1
Planned Separation of Consumer Business
Merger Restructuring And Other Activity [Line Items]
Estimated additional costs				$ 100				$ 100
Number of independent company \| Company				2				2
Planned Separation of Consumer Business \| Other Costs Including Contract Termination Costs
Merger Restructuring And Other Activity [Line Items]
Costs to implement restructuring plan				$ 32
Restructuring cash expenditure				$ 30
Planned Separation of Consumer Business \| Third-Party Professional Fees
Merger Restructuring And Other Activity [Line Items]
Costs to implement restructuring plan	$ 32

STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 25, 2021

Equity [Abstract]

STOCKHOLDERS' EQUITY

NOTE 12. STOCKHOLDERS’ EQUITY

PREFERRED STOCK

As of each of December 25, 2021, and December 26, 2020, there were 1,000,000 shares of $0.01 par value per share of preferred stock authorized; no shares were issued and outstanding.

TREASURY STOCK

In May 2021, the Board of Directors approved a new stock repurchase program of up to $300 million of its common stock, available through June 30, 2022, which replaced the then existing $200 million stock repurchase program. On November 16, 2021, the Company entered into an accelerated share repurchase agreement (“ASR”) to repurchase shares of the Company’s common stock in exchange for an up-front payment $150 million and increased the authorization to $450 million. The total number of shares ultimately delivered under the ASR, and therefore the average repurchase price paid per share, will be determined based on the volume weighted-

average price of the Company’s stock during the purchase period less a discount. The repurchase period runs through June 2022. The Company received 2.8 million shares of its common stock at the initiation of the ASR, which has increased treasury stock by $120 million, and the $30 million additional up-front payment was accounted for as a reduction in additional paid in capital. The ASR is a forward contract indexed to the Company’s common stock and met all of the applicable criteria for equity classification; therefore, it was not accounted for as a derivative instrument. Expenses incurred in connection with the ASR were recorded as a charge to additional paid in capital. The Board of Directors reviewed the Company’s existing capital allocation programs in connection with the sale of CompuCom, and on December 31, 2021, authorized an additional $200 million for share repurchases under the existing stock repurchase program, for a total authorization of $650 million. The new authorization may be suspended or discontinued at any time. The exact timing of share repurchases will depend on market conditions and other factors, and will be funded through available cash balances.

Under the current stock repurchase program, the Company purchased approximately 6 million shares of its common stock at a cost of $277 million in 2021. As of December 25, 2021, $142 million remains available for stock repurchases under the current stock repurchase program.

At December 25, 2021, there were 16 million shares of common stock held in treasury. The Company’s Third Amended Credit Facility permits restricted payments, such as common stock repurchases, but may be limited if the Company does not meet the required minimum liquidity or fixed charge coverage ratio requirements. Refer to Note 10 for additional information about the Company’s compliance with covenants.

DIVIDENDS ON COMMON STOCK

In May 2020, in order to preserve liquidity during the COVID-19 pandemic and in light of the uncertainties as to its duration and economic impact, the Company’s Board of Directors suspended the Company’s quarterly cash dividend beginning in the second quarter of 2020. There was no quarterly cash dividend declared and paid in fiscal 2021. The Company’s quarterly cash dividend remains suspended. Prior to its suspension, dividends had been recorded as a reduction to additional paid-in capital as the Company is in an accumulated deficit position. The Company’s Third Amended Credit Agreement permits restricted payments, such as dividends, but may be limited if the Company does not meet the required minimum liquidity or fixed charge coverage ratio requirements. Refer to Note 10 for additional information about the Company’s compliance with covenants.

ACCUMULATED OTHER COMPREHENSIVE LOSS

Accumulated other comprehensive loss activity, net of tax, where applicable, is provided in the following tables:

(In millions)	Foreign Currency Translation Adjustments			Change in Deferred Pension			Total
Balance at December 26, 2020	$	(27	)	$	(5	)	$	(32	)
Other comprehensive income activity		—			32			32
Tax impact		—			(6	)		(6	)
Total other comprehensive income, net of tax, where applicable		—			26			26
Balance at December 25, 2021	$	(27	)	$	21		$	(6	)

(In millions)	Foreign Currency Translation Adjustments			Change in Deferred Pension			Total
Balance at December 28, 2019	$	(29	)	$	(37	)	$	(66	)
Other comprehensive income activity		2			39			41
Tax impact		—			(7	)		(7	)
Total other comprehensive income, net of tax, where applicable		2			32			34
Balance at December 26, 2020	$	(27	)	$	(5	)	$	(32	)

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

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Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Reconciliation of Measure of Division Operating Income to Consolidated Income (Loss) from Continuing Operations Before Income Taxes (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 25, 2021	Sep. 25, 2021	Jun. 26, 2021	Mar. 27, 2021	Dec. 26, 2020	Sep. 26, 2020	Jun. 27, 2020	Mar. 28, 2020	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Segment Reporting [Abstract]
Division operating income (loss)									$ 396	$ 390	$ 465
Asset impairments	$ (2)	$ (5)	$ (1)	$ (12)	$ (8)	$ (10)	$ (153)	$ (12)	(20)	(182)	(56)
Merger, restructuring and other operating expenses, net	$ (14)	$ (13)	$ (11)	$ (13)	$ (13)	$ (24)	$ (53)	$ (12)	(51)	(102)	(86)
Unallocated expenses									(91)	(100)	(99)
Interest income									1	4	22
Interest expense									(28)	(42)	(89)
Loss on extinguishment and modification of debt										(12)
Other income, net									24	6	21
Income (loss) from continuing operations before income taxes									$ 231	$ (38)	$ 178

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 25, 2021

STOCK-BASED COMPENSATION

NOTE 13. STOCK-BASED COMPENSATION

LONG-TERM INCENTIVE PLANS

During 2019, the Company’s Board of Directors adopted, and the shareholders approved, the Office Depot, Inc. 2019 Long-Term Incentive Plan (the “Plan”). The Plan replaces the Office Depot, Inc. 2017 Long-Term Incentive Plan, the Office Depot, Inc. 2015 Long-Term Incentive Plan, the Office Depot, Inc. 2007 Long-Term Incentive Plan, as amended, and the 2003 OfficeMax Incentive and Performance Plan (together, the “Prior Plans”). No additional awards were granted under the Prior Plans effective May 7, 2019, the effective date of the Plan. The Plan permits the issuance of stock options, nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, and other equity-based incentive awards. Employee share-based awards are generally issued in the first quarter of the year. Total compensation expense for share-based awards was $38 million in 2021, $41 million in 2020 and $33 million in 2019, and the total recognized tax benefit related thereto was $14 million in 2021, $3 million in 2020 and $6 million in 2019.

In accordance with the Plan and the Prior Plans (collectively, the “Stock Plans”), the Board of Directors will adjust the number of shares of common stock available for future grant, the number of shares of common stock underlying outstanding awards, the exercise price per share of outstanding stock options, and other terms of outstanding awards granted by the Stock Plans to reflect the effects of the 1-for-10 reverse stock split. Any fractional shares that would otherwise result from the reverse stock split adjustments related to outstanding equity awards will be eliminated through rounding in accordance with the Stock Plans. Refer to Note 1 for additional information about the 1-for-10 reverse stock split.

RESTRICTED STOCK AND RESTRICTED STOCK UNITS

In 2021, the Company granted 0.5 million shares of restricted stock and restricted stock units to eligible employees which included 30,000 shares granted to the Board of Directors. The Board of Directors are granted restricted stock units as part of their annual compensation which vest immediately on the grant date with distribution to occur following their separation from service with the Company. Restricted stock grants to Company employees typically vest annually over a three-year service period. A summary of the status of the Company’s nonvested shares and changes during 2021, 2020 and 2019 is presented below.

	2021					2020					2019
	Shares			Weighted Average Grant- Date Price		Shares			Weighted Average Grant- Date Price		Shares⁽¹⁾			Weighted Average Grant- Date Price⁽¹⁾
Outstanding at beginning of year		1,526,653		$	24.71		1,394,756		$	30.40		1,496,419		$	30.48
Granted		521,512			39.55		835,828			19.92		740,236			29.90
Vested		(593,249	)		23.72		(579,584	)		30.71		(593,440	)		30.88
Forfeited		(68,138	)		29.20		(124,347	)		28.60		(248,459	)		28.56
Outstanding at end of year		1,386,778		$	30.48		1,526,653		$	24.71		1,394,756		$	30.40

As of December 25, 2021, there was approximately $23 million of total unrecognized compensation cost related to nonvested restricted stock. This expense, net of forfeitures, is expected to be recognized over a weighted-average period of approximately 2.1 years. Total outstanding shares of 1.4 million include 0.2 million granted to members of the Board of Directors that have vested but will not be issued until separation from service and 1.2 million unvested shares granted to employees. The Company estimates that all 1.2 million unvested shares at year end will vest. The total fair value of shares at the time they vested during 2021 was $24.2 million.

PERFORMANCE-BASED INCENTIVE PROGRAM

The Company has a performance-based long-term incentive program consisting of performance stock units. Payouts under this program are based on achievement of certain financial targets, including the Company’s financial performance and total shareholder return performance set by the Board of Directors and are subject to additional service vesting requirements, generally three years from the grant date.

A summary of the activity in the performance-based long-term incentive program since inception is presented below.

	2021					2020					2019
	Shares			Weighted Average Grant- Date Price		Shares			Weighted Average Grant- Date Price		Shares⁽¹⁾			Weighted Average Grant- Date Price⁽¹⁾
Outstanding at beginning of year		2,458,978		$	24.22		1,994,111		$	29.05		1,913,397		$	28.83
Granted		1,298,868			41.44		932,344			19.42		1,026,743			31.00
Vested		(1,374,442	)		23.47		(151,905	)		41.80		(284,366	)		33.12
Forfeited		(207,573	)		28.71		(315,572	)		27.10		(661,663	)		28.87
Outstanding at end of year⁽²⁾		2,175,831		$	29.33		2,458,978		$	24.22		1,994,111		$	29.05

(1)

(2)

As of December 25, 2021, there was approximately $29 million of total unrecognized compensation expense related to the performance-based long-term incentive program. This expense, net of forfeitures, is expected to be recognized over a weighted-average period of approximately 2 years. Forfeitures in the table above include adjustments to the share impact of anticipated performance achievement. The Company estimates that 2.2 million unvested shares at year end will vest. The total fair value of shares at the time they vested during 2021 was $55 million.

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Millions		1 Months Ended	12 Months Ended
	May 11, 2020	May 31, 2021 USD ($) Location	Dec. 25, 2021 USD ($) Segment Store Customer	Dec. 26, 2020 USD ($) Customer	Dec. 28, 2019 USD ($) Customer
Summary Of Significant Accounting Policies [Line Items]
Number of reportable segments \| Segment			2
Number of retail stores \| Store			1,038
Percent of subsidiary shares owned			88.00%
Percentage of service revenue post discontinued operation			10.00%
Reverse stock split	1-for-10			1-for-10
Reverse stock split ratio	0.1			0.1
Professional fees			$ 5	$ 21	$ 41
Accounts payable and accrued expenses and other current liabilities not yet presented for payment				20
Current liabilities held for sale not yet presented for payment			1	3
Cash and cash equivalents			514	729
Trade receivables			$ 495	$ 442
Number of customers accounted for more than 10% of total sales \| Customer			0	0	0
Number of customers accounted for more than 10% of receivables \| Customer			0	0	0
Other receivables			$ 143	$ 117
Accrued payroll and benefits			148	120
Advertising expenses			139	177	$ 245
Prepaid advertising expenses			$ 4	3
Lessee, operating lease, existence of option to extend [true false]			true
Minimum
Summary Of Significant Accounting Policies [Line Items]
Extend renewal terms of the lease			5 years
Maximum
Summary Of Significant Accounting Policies [Line Items]
Extend renewal terms of the lease			25 years
Buildings \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of depreciable assets, years			15 years
Buildings \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of depreciable assets, years			30 years
Furniture, fixtures and equipment \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of depreciable assets, years			3 years
Furniture, fixtures and equipment \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of depreciable assets, years			10 years
Computer Software for Common Office Applications
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of depreciable assets, years			3 years
Computer Software for Larger Business Application
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of depreciable assets, years			5 years
Computer Software for Enterprise Wide Systems
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of depreciable assets, years			7 years
Software \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of depreciable assets, years			3 years
Software \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of depreciable assets, years			7 years
Trade Receivables
Summary Of Significant Accounting Policies [Line Items]
Trade receivables			$ 353	325
Allowance for doubtful accounts			9	10
Vendor Arrangements Receivables
Summary Of Significant Accounting Policies [Line Items]
Other receivables			104	94
Non-US
Summary Of Significant Accounting Policies [Line Items]
Cash and cash equivalents			108	$ 159
Non-US \| Current Asset Held For Sale
Summary Of Significant Accounting Policies [Line Items]
Cash and cash equivalents			$ 17
Spinoff
Summary Of Significant Accounting Policies [Line Items]
Number of retail locations \| Location		1,000
Shareholders equity ownership percentage		100.00%
Professional fees		$ 32
Estimated costs to execute separation of business		$ 100

Estimated Future Benefit Payments (Detail) - North America $ in Millions	Dec. 25, 2021 USD ($)
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
2022	$ 73
2023	71
2024	68
2025	65
2026	62
Next five years	265
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
2022	1
2023	1
2024	1
2025	1
2026	1
Next five years	$ 3

INCOME TAXES

12 Months Ended

Dec. 25, 2021

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 6. INCOME TAXES

The components of income (loss) from continuing operations before income taxes consisted of the following:

(In millions)	2021		2020			2019
United States	$	173	$	(30	)	$	151
Foreign		58		(8	)		27
Total income (loss) from continuing operations before income taxes	$	231	$	(38	)	$	178

The income tax expense (benefit) related to income (loss) from continuing operations consisted of the following:

(In millions)	2021		2020			2019
Current:
Federal	$	14	$	(7	)	$	(57	)
State		8		17			4
Foreign		5		4			7
Deferred:
Federal		13		19			84
State		2		(5	)		10
Foreign		2		(3	)		3
Total income tax expense	$	44	$	25		$	51

The following is a reconciliation of income taxes at the U.S. Federal statutory rate to the provision for income taxes:

(In millions)	2021			2020			2019
Federal tax computed at the statutory rate	$	48		$	(8	)	$	37
State taxes, net of Federal benefit		10			4			8
Foreign income taxed at rates other than Federal		(5	)		4			(2	)
Increase (decrease) in valuation allowance		(3	)		(3	)		8
Non-deductible Goodwill impairments		—			24			—
Other non-deductible expenses and settlements		5			4			3
Tax basis differences in investment in subsidiaries		—			—			—
Non-taxable income and additional deductible expenses		(3	)		(3	)		(4	)
Change in unrecognized tax benefits		—			—			2
Impact of stock compensation shortfall		(6	)		2			—
Other items, net		(2	)		1			(1	)
Income tax expense	$	44		$	25		$	51

During 2021 and 2020, the mix of income and losses across jurisdictions, although still applicable, has become less of a factor in influencing the Company’s effective tax rates due to limited international operations and improved operating results. The Company’s effective tax rates were 19%, (66%) and 29% in 2021, 2020 and 2019, respectively. For the year 2021, the Company’s effective rate was primarily impacted by the recognition of a tax windfall associated with stock-based compensation awards and recognition of tax benefits due to an agreement reached with the IRS related to a prior tax position. These factors, along with the impact of state taxes and the mix of income and losses across U.S. and non-U.S. jurisdictions, caused the Company’s effective tax rate to differ from the statutory rate of 21%. The Company’s effective tax rate for prior periods has varied considerably primarily due to the impact of goodwill impairment, state taxes, excess tax deficiencies associated with stock-based compensation awards and certain nondeductible items and the mix of income and losses across U.S. and non-U.S. jurisdictions. Changes in pretax income projections and the mix of income across jurisdictions could impact the effective tax rates in future quarters.

The Company continues to have a U.S. valuation allowance for certain U.S. Federal credits and state tax attributes, which relate to deferred tax assets that require either certain types of income or for income to be earned in certain jurisdictions in order to be realized. The Company will continue to assess the realizability of its deferred tax assets in the U.S. and remaining foreign jurisdictions in future periods. Changes in pretax income projections could impact this evaluation in future periods.

The Company operates in several foreign jurisdictions with income tax rates that differ from the U.S. Federal statutory rate, which resulted in an expense for 2020 presented in the effective tax rate reconciliation. Significant foreign tax jurisdictions for which the Company realized such expense are Canada and Puerto Rico after the sale of the other international operations.

The components of deferred income tax assets and liabilities consisted of the following:

	December 25,			December 26,
(In millions)	2021			2020
U.S. and foreign loss carryforwards	$	61		$	71
Operating lease right-of-use assets		273			327
Pension and other accrued compensation		47			52
Basis difference in subsidiary held for sale		23			—
Accruals for facility closings		2			2
Inventory		7			8
Self-insurance accruals		14			15
Deferred revenue		10			11
U.S. and foreign income tax credit carryforwards		70			78
Allowance for bad debts		5			5
Accrued expenses		18			19
Basis difference in fixed assets		36			36
Gross deferred tax assets		566			624
Valuation allowance		(93	)		(99	)
Deferred tax assets		473			525
Internal software		2			3
Operating lease liabilities		251			297
Intangibles		5			8
Undistributed foreign earnings		—			2
Deferred tax liabilities		258			310
Net deferred tax assets	$	215		$	215

As of December 25, 2021, and December 26, 2020, deferred income tax liabilities amounting to $4 million and $4 million, respectively, are included in deferred income taxes and other long-term liabilities.

As of December 25, 2021, the Company has utilized all of its U.S. Federal net operating loss (“NOL”) carryforwards. The Company has $238 million of foreign and $866 million of state NOL carryforwards. Of the state NOL carryforwards, $52 million will expire in 2022 and the remaining balance will expire between 2023 and 2040. The Company has no Federal capital loss carryover available to offset future capital gains generated as of year-end but has accrued for the anticipated tax loss that can be currently recognized related to the sale of CompuCom.

Additionally, the Company has $56 million of U.S. Federal tax credit carryforwards, which expire between 2022 and 2024, and $14 million of state and foreign tax credit carryforwards, $2 million of which can be carried forward indefinitely, and the remainder of which will expire between 2023 and 2028.

As of December 25, 2021, the Company has not triggered an “ownership change” as defined in Internal Revenue Code Section 382 or other similar provisions that would limit the use of NOL and tax credit carryforwards. However, the Company did acquire certain NOLs and other credit carryforwards that may be limited as a result of the purchase. Furthermore, if the Company were to experience an ownership change in future periods, its deferred tax assets and income tax expense may be negatively impacted. Deferred income taxes have been provided on all undistributed earnings of foreign subsidiaries.

The following summarizes the activity related to valuation allowances for deferred tax assets:

(In millions)	2021			2020			2019
Beginning balance	$	99		$	100		$	92
Additions, charged to expense		—			2			8
Reductions		(6	)		(3	)		—
Ending balance	$	93		$	99		$	100

The Company’s valuation allowance decreased during 2021 and 2020 due to the expiration of certain credits for which a valuation allowance had been established. During 2019, the Company released established valuation allowances on certain deferred tax assets related to certain credits and carryforwards that are not expected to be utilized prior to expiration. As of December 25, 2021, the Company continues to have a U.S. valuation allowance for certain U.S. Federal credits and certain state tax attributes, which relate to deferred tax assets that require either certain types of income or for income to be earned in certain jurisdictions in order to be realized. The Company will continue to assess the realizability of its deferred tax assets in the U.S. and remaining foreign jurisdictions in future periods. Changes in pretax income projections could impact this evaluation in future periods.

The following table summarizes the activity related to unrecognized tax benefits:

(In millions)	2021		2020		2019
Beginning balance	$	13	$	13	$	11
Increase related to current year tax positions		—		—		2
Ending balance	$	13	$	13	$	13

Included in the balance of $13 million at December 25, 2021, is $6 million of unrecognized tax benefits that, if recognized, would impact the effective tax rate. The other $7 million primarily results from tax positions that, if sustained, would be offset by changes in deferred tax assets. It is anticipated that no material tax positions will be resolved within the next 12 months. Additionally, the Company anticipates that it is reasonably possible that new issues will be raised or resolved by tax authorities that may require changes to the balance of unrecognized tax benefits; however, an estimate of such changes cannot be reasonably made.

The Company recognizes interest related to unrecognized tax benefits in interest expense and penalties in the provision for income taxes. The Company recognized immaterial interest and penalty expense in 2021, 2020 and 2019. The Company had approximately $7 million accrued for the payment of interest and penalties as of December 25, 2021.

The Company files a U.S. Federal income tax return and other income tax returns in various states and foreign jurisdictions. With few exceptions, the Company is no longer subject to U.S. Federal and state and local income tax examinations for years before 2019 and 2016, respectively. The acquired OfficeMax U.S. consolidated group is no longer subject to U.S. Federal income tax examination and with few exceptions, is no longer subject to U.S. state and local income tax examinations for years before 2016. The U.S. Federal income tax returns for 2020 are currently under review. Generally, the Company is subject to routine examination for years 2016 and forward in its international tax jurisdictions.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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Compensation And Retirement Disclosure [Abstract]

Components of Net Periodic Pension (Benefit) Cost (Detail) - United Kingdom - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 4	$ 5	$ 6
Expected return on plan assets	(6)	$ (5)	(7)
Settlement gain	(1)
Net periodic cost (benefit)	$ (3)		$ (1)

EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 25, 2021

Changes in Pension and Other Postretirement Benefit Obligations, Plan Assets and Funded Status

	Pension Benefits						Other Benefits
(In millions)	2021			2020			2021			2020
Changes in projected benefit obligation:
Obligation at beginning of period	$	924		$	906		$	14		$	13
Service cost		—			—			—			—
Interest cost		20			28						—
Assumption changes		(28	)		—			—			1
Actuarial (gain) loss		(12	)		68			—			—
Currency exchange rate change		—			—			—			1
Benefits paid		(74	)		(78	)		(1	)		(1	)
Obligation at end of period	$	830		$	924		$	13		$	14
Change in plan assets:
Fair value of plan assets at beginning of period	$	894		$	833		$	—		$	—
Actual return on plan assets		14			130			—			—
Employer contribution		2			9			1			1
Benefits paid		(74	)		(78	)		(1	)		(1	)
Fair value of plan assets at end of period		836			894			—			—
Net asset (liability) recognized at end of period	$	6		$	(30	)	$	(13	)	$	(14	)

(In millions)	2021			2020
Changes in projected benefit obligation:
Obligation at beginning of period	$	269		$	236
Service cost		—			—
Interest cost		4			5
Plan settlements		(7	)		—
Benefits paid		(5	)		(8	)
Actuarial (gain) loss		(1	)		26
Currency translation		(3	)		10
Obligation at end of period		257			269
Changes in plan assets:
Fair value of plan assets at beginning of period		360			312
Actual return on plan assets		12			41
Company contributions		2			2
Plan settlements		(7	)		—
Benefits paid		(4	)		(8	)
Currency translation		(5	)		13
Fair value of plan assets at end of period		358			360
Net asset recognized at end of period	$	101		$	91

Amount Recognized in Consolidated Balance Sheets Related to Defined Benefit Pension and Other Postretirement Benefit Plans

	Pension Benefits						Other Benefits
(In millions)	2021			2020			2021			2020
Noncurrent assets	$	18		$	—		$	—		$	—
Current liabilities		(2	)		(2	)		(1	)		(1	)
Noncurrent liabilities		(10	)		(28	)		(12	)		(13	)
Net amount recognized	$	6		$	(30	)	$	(13	)	$	(14	)

Accumulated Benefit Obligation in Excess of Plan Assets

	Pension Benefits						Other Benefits
(In millions)	2021			2020			2021			2020
Accumulated benefit obligation in excess of plan assets
Accumulated benefit obligation at end of period	$	(11	)	$	(924	)	$	(13	)	$	(14	)
Fair value of plan assets at end of period		—			894			—			—
Projected benefit obligation in excess of plan assets
Benefit obligation at end of period		(11	)		(924	)
Fair value of plan assets at end of period		—			894

Components of Net Periodic Cost (Benefit)

The components of net periodic cost (benefit) are as follows:

	Pension Benefits									Other Benefits
(In millions)	2021			2020			2019			2021		2020		2019
Service cost	$	—		$	—		$	7		$	—	$	—	$	—
Interest cost		20			28			36			—		—		—
Expected return on plan assets		(29	)		(32	)		(42	)		—		—		—
Net periodic cost (benefit)	$	(9	)	$	(4	)	$	1		$	—	$	—	$	—

The components of net periodic benefit are presented below:

(In millions)	2021			2020			2019
Service cost	$	—		$	—		$	—
Interest cost		4			5			6
Expected return on plan assets		(6	)		(5	)		(7	)
Settlement gain		(1	)		—			—
Net periodic pension benefit	$	(3	)	$	—		$	(1	)

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss (Income)

Other changes in plan assets and benefit obligations recognized in other comprehensive loss (income) are as follows:

	Pension Benefits									Other Benefits
(In millions)	2021			2020			2019			2021			2020		2019
Accumulated other comprehensive loss (income) at beginning of year	$	(21	)	$	9		$	35		$	1		$	—	$	(1	)
Net loss (gain)		(25	)		(30	)		(26	)		(1	)		1		1
Accumulated other comprehensive loss (income) at end of year	$	(46	)	$	(21	)	$	9		$	—		$	1	$	—

Weighted Average Assumptions Used in the Measurement of Benefit Obligations and Net Periodic Cost (Benefit)

The following table presents the key weighted average assumptions used in the measurement of the Company’s benefit obligations as of year-ends:

										Other Benefits
	Pension Benefits									United States									Canada
	2021			2020			2019			2021			2020			2019			2021			2020			2019
Discount rate		2.69	%		2.27	%		3.26	%		2.40	%		1.90	%		2.80	%		2.90	%		2.50	%		3.10	%

The following table presents the weighted average assumptions used in the measurement of net periodic benefit:

										Other Benefits
	Pension Benefits									United States									Canada
	2021			2020			2019			2021			2020			2019			2021			2020			2019
Discount rate		2.27	%		3.26	%		4.31	%		1.90	%		2.80	%		3.90	%		2.50	%		3.10	%		3.90	%
Expected long-term rate of return on plan assets		4.31	%		5.16	%		5.44	%		—	%		—	%		—	%		—	%		—	%		—	%

Assumptions used in calculating the funded status and net periodic benefit included:

	2021			2020			2019
Expected long-term rate of return on plan assets		2.03	%		1.64	%		1.76	%
Discount rate		1.80	%		1.40	%		2.10	%
Inflation		3.20	%		2.70	%		2.90	%

Assumed Healthcare Cost Trend Rates

The following table presents the assumed healthcare cost trend rates used in measuring the Company’s postretirement benefit obligations at year-ends:

	2021			2020			2019
Weighted average assumptions as of year-end:
Healthcare cost trend rate assumed for next year		6.20	%		6.10	%		6.20	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)		4.00	%		4.50	%		4.50	%
Year that the rate reaches the ultimate trend rate	2041			2029			2029

Allocation of Plan Assets Table

The allocation of pension plan assets by category at year-ends is as follows:

	2021			2020
Cash		1	%		1	%
Common collective trust funds		99	%		99	%
		100	%		100	%

The allocation of Plan assets is as follows:

	2021			2020
Cash		2	%		1	%
Equity securities		14	%		14	%
Fixed-income securities		84	%		85	%
Total		100	%		100	%

Schedule of Fair Value of Plan Assets by Assets Category

The following table presents the pension plan assets by level within the fair value hierarchy at year-ends.

(In millions)	Fair Value Measurements 2021
Asset Category	Total		Assets Measured at NAV ^(a)		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Plan assets measured at net asset value: ^(a)
Common collective trust funds:
U.S. small and mid-cap equity securities	$	7	$	7	$	—	$	—	$	—
U.S. large cap equity securities		29		29		—		—		—
International equity securities		42		42		—		—		—
Corporate bonds		485		485		—		—		—
Government securities		245		245		—		—		—
Other fixed-income		4		4		—		—		—
Cash		18		18		—		—		—
Total common collective trust funds		830		830		—		—		—
Total plan assets measured at net asset value		830		830		—		—		—
Plan assets measured in the fair value hierarchy:
Cash		6		—		6		—		—
Total plan assets measured in the fair value hierarchy		6		—		6		—		—
Total plan assets	$	836	$	830	$	6	$	—	$	—

^(a)

(In millions)	Fair Value Measurements 2020
Asset Category	Total		Assets Measured at NAV ^(a)		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Plan assets measured at net asset value: ^(a)
Common collective trust funds:
U.S. small and mid-cap equity securities	$	22	$	22	$	—	$	—	$	—
U.S. large cap equity securities		94		94		—		—		—
International equity securities		133		133		—		—		—
Corporate bonds		409		409		—		—		—
Government securities		214		214		—		—		—
Other fixed-income		3		3		—		—		—
Cash		13		13		—		—		—
Total common collective trust funds		888		888		—		—		—
Total plan assets measured at net asset value		888		888		—		—		—
Plan assets measured in the fair value hierarchy:
Cash		6		—		6		—		—
Total plan assets measured in the fair value hierarchy		6		—		6		—		—
Total plan assets	$	894	$	888	$	6	$	—	$	—

^(a)

The following table presents the pension plan assets by level within the fair value hierarchy.

(In millions)	Fair Value Measurements 2021
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash	$	9	$	9	$	—	$	—
Equity securities
Developed market equity funds		13		13		—		—
Emerging market equity funds		4		4		—		—
Mutual funds real estate		2		—		—		2
Mutual funds		30		—		30		—
Total equity securities		49		17		30		2
Fixed-income securities
UK debt funds		154		—		154		—
Liability term matching debt funds		115		—		115		—
Emerging market debt fund		2		—		2		—
High yield debt		29		—		29		—
Total fixed-income securities		300		—		300		—
Total	$	358	$	26	$	330	$	2

(In millions)	Fair Value Measurements 2020
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash	$	3	$	3	$	—	$	—
Equity securities
Developed market equity funds		11		11		—		—
Emerging market equity funds		4		4		—		—
Mutual funds real estate		20		—		—		20
Mutual funds		14		—		14		—
Total equity securities		49		15		14		20
Fixed-income securities
UK debt funds		140		—		140		—
Liability term matching debt funds		130		—		130		—
Emerging market debt fund		1		—		1		—
High yield debt		37		—		37		—
Total fixed-income securities		308		—		308		—
Total	$	360	$	18	$	322	$	20

Anticipated Benefit Payments

Anticipated benefit payments by year are as follows:

(In millions)	Pension Benefits		Other Benefits
2022	$	73	$	1
2023		71		1
2024		68		1
2025		65		1
2026		62		1
Next five years		265		3

Anticipated benefit payments for the UK pension plan, at 2021 year-end exchange rates, are as follows:

(In millions)	Benefit Payments
2022	$	12
2023		13
2024		13
2025		13
2026		14
Next five years		75

Reconciliation of the Change in Fair Value of the Pension Plan Assets Calculated based on Level 3 Inputs

The following is a reconciliation of the change in fair value of the pension plan assets calculated based on Level 3 inputs:

(In millions)	Total
Balance at December 26, 2020	$	20
Actual return on plan assets	$	(1	)
Net sales		(17	)
Balance at December 25, 2021	$	2

Discontinued Operations - Additional Information (Detail) - Securities Purchase Agreement - CompuCom Division $ in Millions	12 Months Ended
	Dec. 25, 2021 USD ($)
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Cash purchase price	$ 125
Interest bearing promissory note	55
Provision for payment	$ 125
Accrues interest of promissory note	6.00%
Capital investment percentage	15.00%
Dividend percentage	50.00%
Aggregate sale proceeds	$ 125
Estimated fair value	190
Cash purchase price	126
Earnout payment	9
Loss from classification to held for sale	$ 170
Minimum
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Purchase period	3 months
Maximum
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Purchase period	12 months

Commitments and Contingencies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Commitments and Contingencies Disclosure [Line Items]
Purchases under the agreement	$ 336,000,000	$ 326,000,000	$ 541,000,000
Loss of service revenue	6,000,000
Maximum expenses expected to incur	15,000,000
Loss contingency expenses incurred	13,000,000
Maximum purchase agreement includes standard indemnification provisions	10,000,000
Minimum
Commitments and Contingencies Disclosure [Line Items]
Estimated total loss of service revenue	5,000,000
Losses for environmental liabilities	15,000,000
Maximum
Commitments and Contingencies Disclosure [Line Items]
Estimated total loss of service revenue	8,000,000
Losses for environmental liabilities	$ 25,000,000

MERGER, RESTRUCTURING AND OTHER ACTIVITY (Tables)

12 Months Ended

Dec. 25, 2021

Merger Restructuring And Other Activity [Abstract]

Summary of Major Components of Merger, Restructuring and Other Operating Expenses, Net

The table below summarizes the major components of Merger, restructuring and other operating expenses, net.

(In millions)	2021			2020		2019
Merger and transaction related expenses
Severance and retention	$	—		$	—	$	1
Transaction and integration		—			4		7
Facility closure, contract termination and other expenses, net		—			1		—
Total Merger and transaction related expenses		—			5		8
Restructuring expenses
Severance		(2	)		41		26
Professional fees		1			21		41
Facility closure, contract termination, and other expenses, net		15			35		11
Total Restructuring expenses, net		14			97		78
Other operating expenses
Professional fees		37			—		—
Total Other operating expenses		37			—		—
Total Merger, restructuring and other operating expenses, net	$	51		$	102	$	86

Facility Closure and Severance Costs

(In millions)	Beginning Balance		Charges Incurred			Cash Payments			Ending Balance
2021
Termination benefits:
Maximize B2B Restructuring Plan		27		(2	)		(6	)		19
Business Acceleration Program		2		—			(2	)		—
Lease and contract obligations, accruals for facilities closures and other costs:
Maximize B2B Restructuring Plan		10		9			(13	)		6
Business Acceleration Program		1		—			(1	)		—
Comprehensive Business Review		2		—			(1	)		1
USR Parent, Inc. proposals		—		5			(5	)		—
Planned separation of consumer business		—		32			(30	)		2
Total	$	42	$	44		$	(58	)	$	28
2020
Termination benefits:
Merger-related accruals	$	—	$	—		$	—		$	—
Maximize B2B Restructuring Plan		—		35			(8	)		27
Business Acceleration Program		6		—			(4	)		2
Lease and contract obligations, accruals for facilities closures and other costs:
Merger-related accruals		—		—			—			—
Maximize B2B Restructuring Plan		—		27			(17	)		10
Business Acceleration Program		5		20			(24	)		1
Comprehensive Business Review		3		—			(1	)		2
Total	$	14	$	82		$	(54	)	$	42

Schedule of Components of Deferred Income Tax Assets and Liabilities (Detail) - USD ($) $ in Millions	Dec. 25, 2021	Dec. 26, 2020
Deferred Tax Assets Operating Loss Carryforwards Components [Abstract]
U.S. and foreign loss carryforwards	$ 61	$ 71
Operating lease right-of-use assets	273	327
Pension and other accrued compensation	47	52
Basis difference in subsidiary held for sale	23
Accruals for facility closings	2	2
Inventory	7	8
Self-insurance accruals	14	15
Deferred revenue	10	11
U.S. and foreign income tax credit carryforwards	70	78
Allowance for bad debts	5	5
Accrued expenses	18	19
Basis difference in fixed assets	36	36
Gross deferred tax assets	566	624
Valuation allowance	(93)	(99)
Deferred tax assets	473	525
Internal software	2	3
Operating lease liabilities	251	297
Intangibles	5	8
Undistributed foreign earnings		2
Deferred tax liabilities	258	310
Net deferred tax assets	$ 215	$ 215

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 25, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Goodwill by Segment

The components of goodwill by segment are provided in the following table:

(In millions)	Business Solutions Division		Retail Division		Other		Total
Balance as of December 26, 2020	$	316	$	78	$	—	$	394
Acquisitions		1		—		67		68
Purchase accounting adjustments		1		—		1		2
Balance as of December 25, 2021	$	318	$	78	$	68	$	464

Schedule of Amortizing Intangible Assets Net

Definite-lived intangible assets, which are included in Other intangible assets, net in the Consolidated Balance Sheets, are as follows:

	December 25, 2021
(In millions)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer relationships	$	122	$	(84	)	$	38
Technology		6		(2	)		4
Total	$	128	$	(86	)	$	42

	December 26, 2020
(In millions)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer relationships	$	122	$	(78	)	$	44
Technology		—		—			—
Total	$	122	$	(78	)	$	44

Estimated Future Amortization Expense for Intangible Assets

Estimated future amortization expense for the intangible assets is as follows:

(In millions)
2022	$	9
2023		5
2024		3
2025		3
2026		3
Thereafter		19
Total	$	42

Summary of Activity Related to Unrecognized Tax Benefit (Detail) $ in Millions	12 Months Ended
	Dec. 28, 2019 USD ($)
Income Tax Disclosure [Abstract]
Beginning balance	$ 11
Increase related to current year tax positions	2
Ending balance	$ 13

ACQUISITIONS

12 Months Ended

Dec. 25, 2021

Business Combinations [Abstract]

ACQUISITIONS

NOTE 2. ACQUISITIONS

Since 2017, the Company has been undergoing a strategic business transformation to pivot into an integrated B2B distribution platform, with the objective of expanding its product offerings to include value-added services for its customers and capture greater market share. As part of this transformation, the Company is evolving its B2B business to include a new digital procurement platform focused on transforming the B2B procurement and sourcing industry. On January 29, 2021, in connection with the Company’s development efforts in this area, the Company acquired BuyerQuest Holdings, Inc. (“BuyerQuest”), a business services software company with an eProcurement platform for approximately $71 million, subject to customary post-closing adjustments. The purchase consideration for BuyerQuest includes $61 million paid at closing, funded with $26 million of cash on hand and the issuance of 827,498 shares of the Company’s common stock, and up to $10 million contingent consideration that will be payable over a two-year period subject to BuyerQuest meeting certain performance conditions. The Company has subsequently adjusted the contingent consideration amount to $7 million, due to the first-year performance conditions not being met. This remaining contingent consideration non-current liability is presented in Deferred income taxes and other liabilities in the Consolidated Balance Sheets.

As part of its transformation, the Company continues to acquire profitable regional office supply distribution businesses to expand its reach and distribution network into geographic areas that were previously underserved. During the first quarter of 2021, the Company acquired one small independent regional office supply distribution business for approximately $2 million funded with cash on hand, subject to customary post-closing adjustments.

The acquisitions were treated as purchases in accordance with ASC 805, Business Combinations (“ASC 805”) which requires allocation of the purchase price to the estimated fair values of assets and liabilities acquired in the transaction including goodwill and other intangible assets. The Company has performed a purchase price allocation of the aggregate purchase price to the estimated fair values of assets and liabilities acquired in the transactions. The purchase price for BuyerQuest includes $6 million of technology intangibles assets and $67 million of goodwill. The purchase price allocation for the acquired office supply distribution business includes $1 million of goodwill. An immaterial amount of the aggregate purchase price was allocated to working capital accounts. These assets and liabilities are included in the Consolidated Balance Sheet as of December 25, 2021. As additional information is obtained about these assets and liabilities within the measurement period (not to exceed one year from the date of acquisition), the Company will refine its estimates of fair value to allocate the purchase price. The operating results of the acquired businesses are combined with the Company’s operating results subsequent to their purchase dates. The operating results of the acquired office supply distribution business are included in the Business Solution Division, and the operating results of BuyerQuest are part of the Company’s Varis segment, which is included Other, as described in Note 5. Certain disclosures set forth under ASC 805, including supplemental pro forma financial information, are not disclosed because the operating results of the acquired businesses, individually and in the aggregate, are not material to the Company.

Based on new information received, the preliminary purchase price allocations of the companies acquired in 2020 and 2021 have been adjusted during the respective measurement periods. These adjustments were insignificant individually and in the aggregate to the Company’s Consolidated Financial Statements. The measurement periods for acquisitions completed in 2020 closed within 2021. Under the guidance on accounting for business combinations, merger and integration costs are not included as components of consideration transferred, instead, they are accounted for as expenses in the period in which the costs are incurred. Transaction-related expenses are included in the Merger, restructuring and other operating expenses, net line in the Consolidated Statements of Operations. Refer to Note 3 for additional information about the merger and restructuring expenses incurred during 2021.

Estimated Future Amortization Expense Related to Capitalized Software (Detail) $ in Millions	Dec. 25, 2021 USD ($)
Finite Lived Intangible Assets Future Amortization Expense [Line Items]
2022	$ 9
2023	5
2024	3
2025	3
2026	3
Thereafter	19
Capitalized Software
Finite Lived Intangible Assets Future Amortization Expense [Line Items]
2022	38
2023	31
2024	23
2025	16
2026	$ 7

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 25, 2021

Segment Reporting [Abstract]

Summary of Significant Accounts and Balances by Segment, Reconciled to Consolidated Totals

A summary of significant accounts and balances by segment, reconciled to consolidated totals, after the elimination of discontinued operations for all periods is as follows.

(In millions)		Business Solutions Division		Retail Division		Other			Corporate and Discontinued Operations*		Consolidated Total
Sales	2021	$	4,597	$	3,837	$	31		$	—	$	8,465
	2020		4,683		4,167		22			—		8,872
	2019		5,279		4,363		25			—		9,667
Division operating income (loss)	2021		119		306		(29	)		—		396
	2020		116		275		(1	)		—		390
	2019		271		194		—			—		465
Capital expenditures	2021		27		18		14			14		73
	2020		25		28		—			5		58
	2019		43		68		—			29		140
Depreciation and amortization	2021		65		67		3			11		146
	2020		66		80		—			11		157
	2019		66		91		—			8		165
Charges for losses on receivables and inventories	2021		2		20		—			—		22
	2020		9		24		—			—		33
	2019		—		25		—			—		25
Assets	2021		1,494		1,760		90			1,521		4,865
	2020		1,581		1,962		5			2,066		5,614

Reconciliation of Measure of Division Operating Income to Consolidated Income (Loss) from Continuing Operations Before Income Taxes

A reconciliation of the measure of Division operating income to Consolidated income (loss) from continuing operations before income taxes is as follows:

(In millions)	2021			2020			2019
Division operating income	$	396		$	390		$	465
Add/(subtract):
Asset impairments		(20	)		(182	)		(56	)
Merger, restructuring and other operating expenses, net		(51	)		(102	)		(86	)
Unallocated expenses		(91	)		(100	)		(99	)
Interest income		1			4			22
Interest expense		(28	)		(42	)		(89	)
Loss on extinguishment and modification of debt		—			(12	)		—
Other income, net		24			6			21
Income (loss) from continuing operations before income taxes	$	231		$	(38	)	$	178

Acquisitions - Additional Information (Detail) $ in Millions		3 Months Ended
	Jan. 29, 2021 USD ($) shares	Mar. 27, 2021 USD ($) Business	Dec. 25, 2021 USD ($)	Dec. 26, 2020 USD ($)
Business Acquisition, Acquisition Related Costs [Line Items]
Goodwill			$ 464	$ 394
Buyer Quest
Business Acquisition, Acquisition Related Costs [Line Items]
Goodwill	$ 67
Buyer Quest \| Technology Intangible Assets
Business Acquisition, Acquisition Related Costs [Line Items]
Intangible assets acquired	$ 6
United States
Business Acquisition, Acquisition Related Costs [Line Items]
Business combination consideration transferred		$ 2
Number of business acquired \| Business		1
Goodwill			$ 1
United States \| Buyer Quest
Business Acquisition, Acquisition Related Costs [Line Items]
Date of acquisition	Jan. 29, 2021
Business combination consideration transferred	$ 71
Business combination consideration transferred payments with cash on hand and issuance of shares of common stock	61
Cash on hand	$ 26
Business combination issuance of shares of common stock \| shares	827,498
Business combination contingent consideration liability payment period	2 years
Contingent consideration, liability, adjusted amount	$ 7
United States \| Buyer Quest \| Maximum
Business Acquisition, Acquisition Related Costs [Line Items]
Contingent consideration, liability, amount recognized	$ 10

Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Retirement Savings Plans
Defined Benefit Plan Disclosure [Line Items]
Compensation expense relating to retirement savings plans	$ 16	$ 17	$ 21
Increase (Decrease) in Mortality Table
Defined Benefit Plan Disclosure [Line Items]
Increase (decrease) in pension obligations	3	(10)
Increase (Decrease) in Mortality Table \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Increase (decrease) in other postretirement obligations	1	(1)
Actuarial Gains
Defined Benefit Plan Disclosure [Line Items]
Increase (decrease) in pension obligations	$ (12)
Actuarial Gains \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Increase (decrease) in pension obligations		$ (1)
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected long-term return on plan assets	4.31%	5.16%	5.44%
North America
Defined Benefit Plan Disclosure [Line Items]
Expected long-term return on plan assets	3.64%
North America \| Maximum \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Plan asset target allocation	15.00%
North America \| Maximum \| Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Plan asset target allocation	95.00%
North America \| Minimum \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Plan asset target allocation	5.00%
North America \| Minimum \| Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Plan asset target allocation	85.00%
North America \| Change in Discount Rate Assumptions
Defined Benefit Plan Disclosure [Line Items]
Increase (decrease) in pension obligations	$ (31)	$ 78
North America \| Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Pension contributions, current period	2
Pension contributions, for 2022	$ 2
United Kingdom
Defined Benefit Plan Disclosure [Line Items]
Expected long-term return on plan assets	2.03%	1.64%	1.76%
Plan asset target allocation	100.00%	100.00%
Deferred (loss) gain included in accumulated other comprehensive income	$ 24	$ 18
Percentage of allowance expense on assets	0.17%
United Kingdom \| United Kingdom Government Securities
Defined Benefit Plan Disclosure [Line Items]
Incremental return on UK government securities	4.10%
United Kingdom \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Plan asset target allocation	14.00%	14.00%
United Kingdom \| Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Plan asset target allocation	84.00%	85.00%

Summary of Status of Nonvested Shares (Parenthetical) (Detail)		12 Months Ended
	May 11, 2020	Dec. 26, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reverse stock split	1-for-10	1-for-10
Reverse stock split ratio	0.1	0.1
Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reverse stock split	1-for-10
Reverse stock split ratio	0.1

Summary of Disaggregated Revenue by Division, Major Product and Service Categories (Detail) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 25, 2021

^[1]

Sep. 25, 2021

^[1]

Jun. 26, 2021

^[1]

Mar. 27, 2021

^[1]

Dec. 26, 2020

^[1]

Sep. 26, 2020

^[1]

Jun. 27, 2020

^[1]

Mar. 28, 2020

^[1]

Dec. 25, 2021

Dec. 26, 2020

Dec. 28, 2019

$ 2,042

$ 2,179

$ 2,070

$ 2,174

$ 2,085

$ 2,347

$ 1,947

$ 2,493

$ 8,465

$ 8,872

$ 9,667

Products, Supplies

3,815

4,006

4,760

Products, Technology

Products, Furniture and Other

2,758

3,014

2,989

1,302

1,281

1,217

Services, Copy and Print

Operating Segments | Business Solution Division

590

571

701

Operating Segments | Business Solution Division | Products, Supplies

4,597

4,683

5,279

Operating Segments | Business Solution Division | Products, Technology

2,423

2,545

3,001

Operating Segments | Business Solution Division | Products, Furniture and Other

1,165

1,195

1,238

Operating Segments | Business Solution Division | Services, Copy and Print

757

695

756

Operating Segments | Retail Division

252

248

284

Operating Segments | Retail Division | Products, Supplies

3,837

4,167

4,363

Operating Segments | Retail Division | Products, Technology

1,382

1,449

1,743

Operating Segments | Retail Division | Products, Furniture and Other

1,586

1,816

1,749

Operating Segments | Retail Division | Services, Copy and Print

531

579

454

338

323

417

Other

Other | Products, Supplies

Other | Products, Technology

Other | Products, Furniture and Other

$ 14

$ 7

[1]	Due to rounding, the sum of the quarterly amounts may not equal the reported amounts for the year.

Amounts Recognized in Consolidated Balance Sheets Related to Defined Benefit Pension and Other Postretirement Benefit Plans (Detail) - North America - USD ($) $ in Millions	Dec. 25, 2021	Dec. 26, 2020
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Noncurrent assets	$ 18
Current liabilities	(2)	$ (2)
Noncurrent liabilities	(10)	(28)
Net amount recognized	6	(30)
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Current liabilities	(1)	(1)
Noncurrent liabilities	(12)	(13)
Net amount recognized	$ (13)	$ (14)

Schedule of Components of Income (Loss) from Continuing Operations before Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Income Tax Disclosure [Abstract]
United States	$ 173	$ (30)	$ 151
Foreign	58	(8)	27
Income (loss) from continuing operations before income taxes	$ 231	$ (38)	$ 178

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 944
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-Section S99
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-Name Accounting Standards Codification
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Schedule of Defined Benefit Pension and Other Postretirement Benefit Plans with Projected Benefit Obligation and a And Accumulated Benefit Obligation In Excess of Plan Assets (Detail) - North America - USD ($) $ in Millions	Dec. 25, 2021	Dec. 26, 2020
Pension Benefits
Accumulated benefit obligation in excess of plan assets
Accumulated benefit obligation at end of period	$ (11)	$ (924)
Fair value of plan assets at end of period		894
Projected benefit obligation in excess of plan assets
Benefit obligation at end of period	(11)	(924)
Fair value of plan assets at end of period		894
Other Benefits
Accumulated benefit obligation in excess of plan assets
Accumulated benefit obligation at end of period	$ (13)	$ (14)

Schedule of Maturities of Lease Liabilities Under Operating and Finance Leases (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Leases [Line Items]
Operating lease payments	$ 408	$ 447	$ 473
Finance lease payments	22	$ 20	$ 21
Options to Extend Lease Terms
Leases [Line Items]
Operating lease payments	77
Finance lease payments	$ 1

Summary of Valuation Allowances (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Income Taxes [Line Items]
Beginning balance	$ 99
Ending balance	93	$ 99
Valuation Allowance of Deferred Tax Assets
Income Taxes [Line Items]
Beginning balance	99	100	$ 92
Additions, charged to expense		2	8
Reductions	(6)	(3)
Ending balance	$ 93	$ 99	$ 100

Schedule Income Tax Expense (Benefit) Related to Income (Loss) From Continuing Operations (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Income Tax Disclosure [Abstract]
Federal, Current	$ 14	$ (7)	$ (57)
State, Current	8	17	4
Foreign, Current	5	4	7
Federal, Deferred	13	19	84
State, Deferred	2	(5)	10
Foreign, Deferred	2	(3)	3
Income tax expense	$ 44	$ 25	$ 51

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Schedule of Fair Value of Assets and Liabilities (Parenthetical) (Detail)	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020
American & Foreign Power Company, Inc. 5% debentures, due 2030
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt, interest rate	5.00%	5.00%
Carrying Amount \| Long-Term Debt \| New Facilities loans Under Third Amended Credit Agreement due 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, due date	2025	2025
Carrying Amount \| Long-Term Debt \| Revenue bonds, due in varying amounts periodically through 2029
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, due date	2029	2029
Carrying Amount \| Long-Term Debt \| American & Foreign Power Company, Inc. 5% debentures, due 2030
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, due date	2030	2030
Long term debt, interest rate	5.00%	5.00%
Fair Value \| Long-Term Debt \| New Facilities loans Under Third Amended Credit Agreement due 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, due date	2025	2025
Fair Value \| Long-Term Debt \| Revenue bonds, due in varying amounts periodically through 2029
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, due date	2029	2029
Fair Value \| Long-Term Debt \| American & Foreign Power Company, Inc. 5% debentures, due 2030
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, due date	2030	2030
Long term debt, interest rate	5.00%	5.00%

Weighted Average Assumptions Used in the Measurement of Benefit Obligations (Detail)	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.69%	2.27%	3.26%
Other Benefits \| United States
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.40%	1.90%	2.80%
Other Benefits \| Canada
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.90%	2.50%	3.10%

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Total	BuyerQuest Acquisition	Adjustment for Adoption of Accounting Standard	Common Stock	Common Stock BuyerQuest Acquisition	Additional Paid-in Capital	Additional Paid-in Capital BuyerQuest Acquisition	Accumulated Other Comprehensive Loss	Accumulated Deficit	Accumulated Deficit Adjustment for Adoption of Accounting Standard	Treasury Stock
Balance at Dec. 29, 2018	$ 2,126			$ 1		$ 2,682		$ (99)	$ (173)		$ (285)
Balance, Shares at Dec. 29, 2018				61,417,070
Net income (loss)	99								99
Other comprehensive income	33							33
Exercise and release of incentive stock (including income tax benefits and withholding)	(8)					(8)
Exercise and release of incentive stock (including income tax benefits and withholding) (in shares)				625,407
Amortization of long-term incentive stock grants	33					33
Dividends paid on common stock	(55)					(55)
Repurchase of common stock	(40)										(40)
Balance at Dec. 28, 2019	2,173		$ (15)	$ 1		2,652		(66)	(89)	$ (15)	(325)
Balance, Shares at Dec. 28, 2019				62,042,477
Net income (loss)	(319)								(319)
Other comprehensive income	34							34
Exercise and release of incentive stock (including income tax benefits and withholding)	(5)					(5)
Exercise and release of incentive stock (including income tax benefits and withholding) (in shares)				508,778
Amortization of long-term incentive stock grants	41					41
Dividends paid on common stock	(13)					(13)
Repurchase of common stock	(30)										(30)
Balance at Dec. 26, 2020	1,880		$ (1)	$ 1		2,675		(32)	(409)	$ (1)	(355)
Balance, Shares at Dec. 26, 2020				62,551,255
Net income (loss)	(208)								(208)
Other comprehensive income	26							26
Exercise and release of incentive stock (including income tax benefits and withholding)	(26)					(26)
Exercise and release of incentive stock (including income tax benefits and withholding) (in shares)				1,326,226
Amortization of long-term incentive stock grants	38					38
Repurchase of common stock and advance payment for accelerated share repurchase	(307)					(30)					(277)
Common stock issuance related to theBuyerQuest acquisition		$ 35					$ 35
Common stock issuance related to the BuyerQuest acquisition, (in shares)					827,498
Repurchase of common stock	$ (277)
Repurchase of common stock (in shares)	(6,000,000)
Balance at Dec. 25, 2021	$ 1,438			$ 1		$ 2,692		$ (6)	$ (617)		$ (632)
Balance, Shares at Dec. 25, 2021				64,704,979

Schedule of Assets Held under Finance Leases (Detail) - USD ($) $ in Millions	Dec. 25, 2021	Dec. 26, 2020
Property, Plant and Equipment [Line Items]
Assets held under finance leases, Gross	$ 2,312	$ 2,318
Less accumulated depreciation	(1,835)	(1,776)
Total	477	542
Assets Held Under Finance Leases
Property, Plant and Equipment [Line Items]
Assets held under finance leases, Gross	162	181
Less accumulated depreciation	(123)	(122)
Total	39	59
Buildings
Property, Plant and Equipment [Line Items]
Assets held under finance leases, Gross	200	210
Buildings \| Assets Held Under Finance Leases
Property, Plant and Equipment [Line Items]
Assets held under finance leases, Gross	19	34
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Assets held under finance leases, Gross	775	784
Furniture, fixtures and equipment \| Assets Held Under Finance Leases
Property, Plant and Equipment [Line Items]
Assets held under finance leases, Gross	$ 143	$ 147

Summary of the Activity in the Performance-Based Long-Term Incentive Program Since Inception (Parenthetical) (Detail) shares in Millions		12 Months Ended
	May 11, 2020	Dec. 26, 2020 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reverse stock split	1-for-10	1-for-10
Reverse stock split ratio	0.1	0.1
Performance Based Stock Incentive Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reverse stock split	1-for-10
Reverse stock split ratio	0.1
Outstanding shares of awards granted that will be settled in cash		5.6

Schedule of Maturities of Lease Liabilities Under Operating and Finance Leases (Detail) - USD ($)
$ in Millions

Dec. 25, 2021

Dec. 26, 2020