Enhanced Investments - Financial Portal

Published: 2023-03-09 08:04:29 ET

EX-99.1 2 d476311dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

Supplemental Historical Segment Financial Information of The ODP Corporation


Annual Results FY20 - Total US GAAP	Office Depot		ODP Business Solutions		Varis			Veyer		Corporate, Shared Services and Eliminations			Total
Sales	$	5,335	$	3,578	$	0		$	6,344	$	(6,385	)	$	8,872
Cost of goods sold and occupancy costs		3,958		3,115		0			6,255		(6,407	)		6,921

Gross profit		1,377		463		0			89		22			1,951
Selling, general and administrative expenses		1,060		412		0			61		128			1,661
Asset impairments		0		0		0			0		182			182
Merger, restructuring and other operating expenses, net		0		0		0			0		102			102

Operating income	$	317	$	51	$	0		$	28	$	(390	)	$	6



Q1 FY21 - Total US GAAP	Office Depot		ODP Business Solutions		Varis			Veyer		Corporate, Shared Services and Eliminations			Total
Sales	$	1,325	$	855	$	0		$	1,516	$	(1,522	)	$	2,174
Cost of goods sold and occupancy costs		965		747		1			1,494		(1,528	)		1,679

Gross profit		360		108		(1	)		22		6			495
Selling, general and administrative expenses		252		105		4			15		25			401
Asset impairments		0		0		0			0		12			12
Merger, restructuring and other operating expenses, net		0		0		0			0		13			13

Operating income	$	108	$	3	$	(5	)	$	7	$	(44	)	$	69

Q2 FY21 - Total US GAAP	Office Depot		ODP Business Solutions		Varis			Veyer		Corporate, Shared Services and Eliminations			Total
Sales	$	1,161	$	914	$	1		$	1,473	$	(1,479	)	$	2,070
Cost of goods sold and occupancy costs		876		793		1			1,451		(1,483	)		1,638

Gross profit		285		121		0			22		4			432
Selling, general and administrative expenses		235		103		6			14		32			390
Asset impairments		0		0		0			0		1			1
Merger, restructuring and other operating expenses, net		0		0		0			0		11			11

Operating income	$	50	$	18	$	(6	)	$	8	$	(40	)	$	30



Q3 FY21 - Total US GAAP	Office Depot		ODP Business Solutions		Varis			Veyer		Corporate, Shared Services and Eliminations			Total
Sales	$	1,239	$	947	$	2		$	1,528	$	(1,537	)	$	2,179
Cost of goods sold and occupancy costs		894		814		2			1,507		(1,542	)		1,675

Gross profit		345		133		0			21		5			504
Selling, general and administrative expenses		237		99		10			14		22			382
Asset impairments		0		0		0			0		5			5
Merger, restructuring and other operating expenses, net		0		0		0			0		13			13

Operating income	$	108	$	34	$	(10	)	$	7	$	(35	)	$	104

Q4 FY21 - Total US GAAP	Office Depot		ODP Business Solutions		Varis			Veyer		Corporate, Shared Services and Eliminations			Total
Sales	$	1,139	$	910	$	2		$	1,474	$	(1,483	)	$	2,042
Cost of goods sold and occupancy costs		854		790		1			1,454		(1,489	)		1,610

Gross profit		285		120		1			20		6			432
Selling, general and administrative expenses		226		102		14			13		30			385
Asset impairments		0		0		0			0		2			2
Merger, restructuring and other operating expenses, net		0		0		0			0		14			14

Operating income	$	59	$	18	$	(13	)	$	7	$	(40	)	$	31

Annual Results FY21 - Total US GAAP	Office Depot		ODP Business Solutions		Varis			Veyer		Corporate, Shared Services and Eliminations			Total
Sales	$	4,864	$	3,626	$	5		$	5,991	$	(6,021	)	$	8,465
Cost of goods sold and occupancy costs		3,589		3,145		4			5,906		(6,042	)		6,602

Gross profit		1,275		481		1			85		21			1,863
Selling, general and administrative expenses		950		409		35			55		109			1,558
Asset impairments		0		0		0			0		20			20
Merger, restructuring and other operating expenses, net		0		0		0			0		51			51

Operating income	$	325	$	72	$	(34	)	$	30	$	(159	)	$	234


Q1 FY22 - Total US GAAP	Office Depot		ODP Business Solutions		Varis			Veyer		Corporate, Shared Services and Eliminations			Total
Sales	$	1,201	$	984	$	2		$	1,533	$	(1,542	)	$	2,178
Cost of goods sold and occupancy costs		871		858		1			1,511		(1,547	)		1,694

Gross profit		330		126		1			22		5			484
Selling, general and administrative expenses		234		107		16			14		25			396
Asset impairments		0		0		0			0		2			2
Merger, restructuring and other operating expenses, net		0		0		0			0		10			10

Operating income	$	96	$	19	$	(15	)	$	8	$	(32	)	$	76

Q2 FY22 - Total US GAAP	Office Depot		ODP Business Solutions		Varis			Veyer		Corporate, Shared Services and Eliminations			Total
Sales	$	1,039	$	1,000	$	1		$	1,416	$	(1,422	)	$	2,034
Cost of goods sold and occupancy costs		777		858		1			1,394		(1,427	)		1,603

Gross profit		262		142		0			22		5			431
Selling, general and administrative expenses		213		106		16			14		28			377
Asset impairments		0		0		0			0		3			3
Merger, restructuring and other operating expenses, net		0		0		0			0		23			23

Operating income	$	49	$	36	$	(16	)	$	8	$	(49	)	$	28

Q3 FY22 - Total US GAAP	Office Depot		ODP Business Solutions		Varis			Veyer		Corporate, Shared Services and Eliminations			Total
Sales	$	1,143	$	1,035	$	2		$	1,484	$	(1,492	)	$	2,172
Cost of goods sold and occupancy costs		841		879		1			1,462		(1,497	)		1,686

Gross profit		302		156		1			22		5			486
Selling, general and administrative expenses		219		108		18			13		33			391
Asset impairments		0		0		0			0		3			3
Merger, restructuring and other operating expenses, net		0		0		0			0		8			8

Operating income	$	83	$	48	$	(17	)	$	9	$	(39	)	$	84


Q4 FY22 - Total US GAAP	Office Depot		ODP Business Solutions		Varis			Veyer		Corporate, Shared Services and Eliminations			Total
Sales	$	1,104	$	1,005	$	2		$	1,450	$	(1,455	)	$	2,106
Cost of goods sold and occupancy costs		831		857		1			1,430		(1,459	)		1,660

Gross profit		273		148		1			20		4			446
Selling, general and administrative expenses		216		111		19			16		26			388
Asset impairments		0		0		0			0		6			6
Merger, restructuring and other operating expenses, net		0		0		0			0		(3	)		(3	)

Operating income	$	57	$	37	$	(18	)	$	4	$	(25	)	$	55

Annual Results FY22 - Total US GAAP	Office Depot		ODP Business Solutions		Varis			Veyer		Corporate, Shared Services and Eliminations			Total
Sales	$	4,487	$	4,024	$	7		$	5,883	$	(5,910	)	$	8,491
Cost of goods sold and occupancy costs		3,318		3,452		4			5,799		(5,930	)		6,643

Gross profit		1,169		572		3			84		20			1,848
Selling, general and administrative expenses		884		432		69			56		111			1,552
Asset impairments		0		0		0			0		14			14
Merger, restructuring and other operating expenses, net		0		0		0			0		39			39

Operating income	$	285	$	140	$	(66	)	$	28	$	(144	)	$	243

Amounts may not foot due to rounding. The sum of the quarterly amounts may not equal the reported amounts for the year due to rounding.

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.