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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 26, 2020
Sep. 28, 2019
Sep. 26, 2020
Sep. 28, 2019
Statement of Comprehensive Income [Abstract]        
Net sales $ 5,848 $ 6,531 $ 16,747 $ 19,005
Cost of goods sold 4,874 5,375 14,036 15,655
Gross profit 974 1,156 2,711 3,350
Operating expenses:        
Distribution, selling and administrative costs 873 968 2,779 2,837
Restructuring Costs 23 0 39 0
Total operating expenses 896 968 2,818 2,837
Operating income (loss) 78 188 (107) 513
Other (income) expense—net (6) 1 (16) (3)
Interest expense—net 63 43 178 127
Income (loss) before income taxes 21 144 (269) 389
Income tax provision (benefit) 13 39 (53) 97
Income (loss) from continuing operations 8 105 (216) 292
Income from discontinued operations 0 1 0 1
Net income (loss) 8 106 (216) 293
Other comprehensive income (loss)—net of tax:        
Changes in retirement benefit obligations 0 3 1 5
Unrecognized gain (loss) on interest rate swaps 2 (1) (4) (15)
Comprehensive income (loss) 10 108 (219) 283
Net (loss) income 8 106 (216) 293
Series A Convertible Preferred Stock Dividends 10 0 15 0
Net (loss) income available to common shareholders $ (2) $ 106 $ (231) $ 293
Net (loss) income per share—basic        
Continuing operations $ (0.01) $ 0.48 $ (1.05) $ 1.33
Discontinued operations 0.00 0.01 0.00 0.01
Net (loss) income per share (0.01) 0.49 (1.05) 1.34
Net (loss) income per share—diluted:        
Continuing operations (0.01) 0.47 (1.05) 1.33
Discontinued operations 0.00 0.01 0.00 0.01
Net (loss) income per share $ (0.01) $ 0.48 $ (1.05) $ 1.34
Weighted-average common shares outstanding        
Basic 220 218 220 218
Diluted 220 220 220 219