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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jul. 03, 2021
Jun. 27, 2020
Cash flows from operating activities:    
Net income (loss) $ 31 $ (224)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 195 207
Loss on disposal of property and equipment—net 0 1
Loss on extinguishment of debt 23 0
Amortization of deferred financing costs 7 9
Deferred tax provision (benefit) 6 (44)
Share-based compensation expense 23 19
(Benefit) provision for doubtful accounts (13) 106
Changes in operating assets and liabilities:    
(Increase) decrease in receivables (516) 257
(Increase) decrease in inventories—net (286) 142
Increase in prepaid expenses and other assets (24) (12)
Increase in accounts payable and cash overdraft liability 721 375
Increase (decrease) in accrued expenses and other liabilities 83 (66)
Net cash provided by operating activities 250 770
Cash flows from investing activities:    
Acquisition of businesses—net of cash 0 (973)
Proceeds from sales of divested assets 5 7
Proceeds from sales of property and equipment 1 1
Purchases of property and equipment (107) (131)
Net cash used in investing activities (101) (1,096)
Cash flows from financing activities:    
Proceeds from debt borrowings 900 3,645
Principal payments on debt and financing leases (1,161) (2,206)
Net proceeds from issuance of Series A convertible preferred stock 0 491
Dividends, Preferred Stock, Cash (9) 0
Debt financing costs and fees (18) (33)
Proceeds from employee stock purchase plan 10 11
Proceeds from exercise of stock options 12 1
Tax withholding payments for net share-settled equity awards (13) (5)
Net cash (used in) provided by financing activities (279) 1,904
Net (decrease) increase in cash, cash equivalents and restricted cash (130) 1,578
Cash, cash equivalents and restricted cash—beginning of period 829 98
Cash, cash equivalents and restricted cash—end of period 699 1,676
Supplemental disclosures of cash flow information:    
Interest paid—net of amounts capitalized 88 89
Income taxes paid—net 0 2
Property and equipment purchases included in accounts payable 27 14
Property and equipment transferred to assets held for sale 9 19
Leased assets obtained in exchange for financing lease liabilities 14 60
Leased assets obtained in exchange for operating lease liabilities 20 13
Cashless exercise of stock options 1 0
Paid-in-kind Series A convertible preferred stock dividends $ 15 $ 5