Reconciliations of Non-GAAP Financial and Performance Measures

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					                          OFFICE DEPOT, INC.
           RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES

We report our results of operations using measures of financial performance prepared
in accordance with accounting principles generally accepted in the United States of
America ("GAAP"). We also disclose other non-GAAP financial measures that we use
to assess our returns and capital structure. These measures are used to assist
management in making business decisions to maximize stockholders' value.

Non-GAAP results are presented where that presentation will afford management and
investors an opportunity to make meaningful comparisons to results in prior periods.
The presentation of such non-GAAP information is not intended to suggest that such
information is superior to the presentation of GAAP information, but only to clarify some
information and assist the reader. We have included reconciliations of this information
to the most comparable GAAP measures in the tables included within this material.
                                 OFFICE DEPOT, INC.
                  RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
                     EARNINGS BEFORE INTEREST AND TAXES (EBIT)
        EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION & AMORTIZATION (EBITDA)
                                  (Dollars in millions)

 EBIT and EBITDA are non-GAAP financial measures. Management uses these measures, in addition
 to net earnings and operating profit, to assess the core operations of the business. Isolation of results
 without net financing costs and GAAP measures of asset allocations to period expense provides one
 measure of current operating activity. These measures should not be considered replacements for
 other performance measures determined under GAAP. We have also computed EBIT excluding
 certain charges and credits.




                                                          13 Weeks Ended               13 Weeks Ended
                                                           March 29, 2008               March 31, 2007
EBIT
Net earnings                                          $                68.8        $               153.8

Add:
  Interest, net                                                        13.9                         11.8
  Taxes                                                                31.0                         68.0
EBIT                                                  $               113.7        $               233.6

First Quarter Charges, pretax                                          10.7                         12.1

Adjusted EBIT                                         $               124.4        $               245.7

Sales                                                 $             3,962.0        $             4,093.6

EBIT Margin                                                            2.9%                         5.7%

Adjusted EBIT Margin                                                   3.1%                         6.0%

EBITDA

EBIT                                                  $               113.7        $               233.6

Add:
 Depreciation & Amortization                                           63.5                         71.7
EBITDA                                                $               177.2        $               305.3
                                             OFFICE DEPOT, INC.
                            RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
                                                 NET EARNINGS
                                (Dollars in millions, except per share amounts)


                                                                13 Weeks Ended              13 Weeks Ended
                                                                 March 29, 2008              March 31, 2007
Net earnings
Net earnings                                                $                68.8       $              153.8

Add:
First Quarter Charges, after tax                                              9.3                       11.7

Adjusted net earnings                                       $                78.1       $              165.5

Weighted average shares used                                                272.8                      280.1

Diluted EPS                                                 $                0.25       $               0.55
First Quarter Charges, after tax                                             0.04                       0.04

Adjusted diluted EPS                                        $                0.29       $               0.59



                 See discussion of Charges in our Form 10-K and Form 10-Q filed with the U.S.
                 Securities and Exchange Commission.
                                        OFFICE DEPOT, INC.
                         RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
                                        OPERATING PROFIT
                                        (Dollars in millions)


                                                          13 Weeks Ended              13 Weeks Ended
                                                           March 29, 2008              March 31, 2007
Operating Profit
Operating profit                                      $               105.2       $              223.8

Add:
First Quarter Charges, pretax                                          10.7                       12.1

Operating Profit, Adjusted                            $               115.9       $              235.9

Sales                                                 $             3,962.0       $             4,093.6

Operating Proft Margin                                                 2.7%                       5.5%

Operating Profit Margin, Adjusted                                      2.9%                       5.8%



              See discussion of Charges in our Form 10-K and Form 10-Q filed with the U.S.
              Securities and Exchange Commission.
                                  OFFICE DEPOT, INC.
                 RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
                        SELECT TRAILING 4 QUARTERS DATA
                     (Dollars in millions, except per share amounts)

                                                 Q1 2008                Q1 2007
                                           Trailing 4 Quarters    Trailing 4 Quarters

Sales                                      $          15,396.0    $          15,288.7

Net earnings                               $             310.6    $             527.7
Interest, net                                             55.8                   38.0
Taxes                                                     25.9                  206.6
EBIT                                                     392.3                  772.3
Charges, pretax                                           38.7                   56.6
Gain on Sale of Buildings, pretax                          -                    (21.4)
Loss on Extinguishment of Debt, pretax                     -                      5.7
Legal Settlement, pretax                                  (1.5)                  16.5
 Adjusted EBIT                             $             429.5    $             829.7

EBIT                                       $             392.3    $             772.3
Depreciation & Amortization                              273.2                  276.0
EBITDA                                     $             665.5    $           1,048.3
Charges, pretax (net of depreciation)                     28.1                   30.5
Gain on Sale of Buildings, pretax                          -                    (21.4)
Loss on Extinguishment of Debt, pretax                     -                      5.7
Legal Settlement, pretax                                  (1.5)                  16.5
 Adjusted EBITDA                           $             692.1    $           1,079.6

Net Earnings                               $             310.6    $             527.7
Charges, after tax                                        26.8                   39.5
Gain on Sale of Buildings, net of Loss
   on Extinguishment of Debt, after tax                    -                     (9.9)
Legal Settlement, after tax                               (0.9)                  10.0
 Adjusted earnings                         $             336.5    $             567.3

Diluted EPS                                $              1.13    $              1.86
Charges, after-tax                                        0.10                   0.14
Gain on Sale of Buildings, net of Loss
    on Extinguishment of Debt, after tax                   -                    (0.03)
Legal Settlement, after tax                                -                     0.03
 Adjusted EPS                              $              1.23    $              2.00

Diluted Shares                                           274.1                  283.2
                                  OFFICE DEPOT, INC.
                   RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
                                       NET DEBT
                                  (Dollars in millions)

                                                March 29, 2008          March 31, 2007

Cash and cash equivalents                   $             181.5     $             194.2
Short-term investments                                      -                       -
Short-term borrowings and current
        maturities of long-term debt                      (125.6)                  (42.1)
Long-term debt, net of current maturities                 (623.2)                 (568.1)

            Net debt                        $             (567.3)   $             (416.0)
                                                OFFICE DEPOT, INC.
                                  RECONCILIATION OF NON-GAAP FINANCIAL MEASURE
                                       RETURN ON INVESTED CAPITAL (ROIC)
                                                 (Dollars in millions)


 We define return on invested capital (ROIC) as net earnings from continuing operations before interest expense and the
 interest component of operating leases, net of income taxes, divided by average net assets, including the present value of
 operating leases. We believe that reporting ROIC provides investors with a measure of performance of our capital structure.
 ROIC is not a measure of financial performance under generally accepted accounting principles in the U.S., and may not be
 defined and calculated by other companies in the same manner. ROIC should not be considered in isolation or as an
 alternative to net earnings as an indicator of performance. We calculate ROIC using a 13 month average for the Invested
 Capital component; our calculation is as follows:




                                                                             March 29, 2008              March 31, 2007
                        Return Component
Earnings before income taxes                                             $                 336.5     $                 734.3

Adjustments:
    Interest expense                                                                        65.3                        42.4
    Capitalized leases                                                                     466.7                       424.9

Pre-tax earnings, ROIC adjusted                                          $                 868.5     $               1,201.6

Less: Tax expense on adjusted pre-tax earnings                                            (258.2)                     (353.1)

ROIC earnings                                                            $                 610.3     $                 848.5


Add:
    Charges, after tax                                                   $                  26.8     $                  39.5
    Gain on Sale of Buildings, net of Loss
      on Extinguishment of Debt, after tax                                                    -                         (9.9)
    Legal Settlement, after tax                                                              (0.9)                      10.0

Adjusted ROIC earnings                                                   $                 636.2     $                 888.1

                   Invested Capital Component

Average invested capital                                                 $               6,515.1     $               5,622.3

Adjusted ROIC                                                                               9.8%                       15.8%
                                                                            OFFICE DEPOT, INC. AND SUBSIDIARIES
                                                                           COMPARATIVE STATEMENTS OF EARNINGS
                                                                             (In millions, except per share amounts)
                                                                                            (Unaudited)


                                                                                       Q1 2008                                                                  Q1 2007
                                                             As reported               Charges                As adjusted**           As reported               Charges                As adjusted**

Sales                                                    $          3,962.0       $              -        $          3,962.0      $          4,093.6       $              -        $          4,093.6
Cost of goods sold and occupancy costs                              2,793.3                      -                   2,793.3                 2,824.5                      0.1                 2,824.4

  Gross profit                                                      1,168.7                      -                   1,168.7                 1,269.1                      (0.1)               1,269.2

Store and warehouse operating and selling expenses                    866.8                      7.4                   859.4                   885.7                      9.0                   876.7
Asset impairments                                                       -                        -                       -                       -                        -                       -
General and administrative expenses                                   198.6                      3.3                   195.3                   161.5                      3.0                   158.5
Amortization of deferred gain on building sale                         (1.9)                     -                      (1.9)                   (1.9)                     -                      (1.9)

  Operating profit                                                    105.2                    (10.7)                  115.9                   223.8                    (12.1)                  235.9

Other income (expense):
  Interest expense, net                                                (13.9)                    -                      (13.9)                  (11.8)                    -                      (11.8)
  Loss on extinguishment of debt                                         -                       -                        -                       -                       -                        -
  Miscellaneous income (expense), net                                    8.5                     -                        8.5                     9.8                     -                        9.8

  Earnings before income taxes                                         99.8                    (10.7)                  110.5                   221.8                    (12.1)                  233.9

Income taxes                                                           31.0                      (1.4)                  32.4                    68.0                      (0.4)                  68.4

Net Earnings                                             $             68.8       $              (9.3)    $             78.1      $            153.8       $            (11.7)     $            165.5

Net earnings per common share
  Diluted                                                $             0.25       $            (0.04)     $             0.29      $             0.55       $            (0.04)     $             0.59



                                                             See discussion of Charges in our Form 10-K and 10-Q filed with the US Securities and Exchange Commission.

** As adjusted amounts include non-GAAP financial measures. These measures are presented where that presentation will afford management and investors an opportunity to make meaningful
comparisons to results in prior periods. The presentation of such non-GAAP information is not intended to suggest that such information is superior to the presentation of GAAP information, but only
to clarify some information and assist the reader.

				
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