XML 16 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jul. 03, 2021
Jun. 27, 2020
Jul. 03, 2021
Jun. 27, 2020
Statement of Comprehensive Income [Abstract]        
Net sales $ 7,663 $ 4,560 $ 13,958 $ 10,899
Cost of goods sold 6,494 3,889 11,786 9,162
Gross profit 1,169 671 2,172 1,737
Operating expenses:        
Distribution, selling and administrative costs 1,044 714 2,016 1,906
Restructuring Costs 1 16 4 16
Total operating expenses 1,045 730 2,020 1,922
Operating income (loss) 124 (59) 152 (185)
Other income—net (6) (4) (13) (10)
Interest expense—net 54 63 108 115
Loss on extinguishment of debt 0 0 23 0
Income (loss) before income taxes 76 (118) 34 (290)
Income tax provision (benefit) 21 (26) 3 (66)
Net income (loss) 55 (92) 31 (224)
Other comprehensive income (loss)—net of tax:        
Changes in retirement benefit obligations 0 1 0 1
Unrecognized gain (loss) on interest rate swaps 2 0 4 (6)
Comprehensive income (loss) 57 (91) 35 (229)
Net income (loss) 55 (92) 31 (224)
Series A convertible preferred stock dividends (9) (5) (24) (5)
Net income (loss) available to common shareholders $ 46 $ (97) $ 7 $ (229)
Net income (loss) per share        
Basic (Note 13) $ 0.21 $ (0.44) $ 0.03 $ (1.05)
Diluted (Note 13) $ 0.20 $ (0.44) $ 0.03 $ (1.05)
Weighted-average common shares outstanding        
Basic (Note 13) 222 220 221 219
Diluted (Note 13) 225 220 225 219