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 9 Months Ended
Oct. 02, 2021
Sep. 26, 2020
Oct. 02, 2021
Sep. 26, 2020
Statement of Comprehensive Income [Abstract]        
Net sales $ 7,890 $ 5,848 $ 21,848 $ 16,747
Cost of goods sold 6,649 4,874 18,435 14,036
Gross profit 1,241 974 3,413 2,711
Operating expenses:        
Distribution, selling and administrative costs 1,099 873 3,115 2,779
Restructuring Costs and Asset Impairment Charges 7 23 11 39
Total operating expenses 1,106 896 3,126 2,818
Operating income (loss) 135 78 287 (107)
Other income—net (6) (6) (19) (16)
Interest expense—net 50 63 158 178
Loss on extinguishment of debt 0 0 23 0
Income (loss) before income taxes 91 21 125 (269)
Income tax provision (benefit) 27 13 30 (53)
Net income (loss) 64 8 95 (216)
Other comprehensive income (loss)—net of tax:        
Changes in retirement benefit obligations 0 0 0 1
Unrecognized gain (loss) on interest rate swaps 1 2 5 (4)
Comprehensive income (loss) 65 10 100 (219)
Net income (loss) 64 8 95 (216)
Series A convertible preferred stock dividends (9) (10) (33) (15)
Net income (loss) available to common shareholders $ 55 $ (2) $ 62 $ (231)
Net income (loss) per share        
Basic (Note 13) $ 0.25 $ (0.01) $ 0.28 $ (1.05)
Diluted (Note 13) $ 0.24 $ (0.01) $ 0.28 $ (1.05)
Weighted-average common shares outstanding        
Basic (Note 13) 222 220 222 220
Diluted (Note 13) 225 220 225 220