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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Oct. 02, 2021
Sep. 26, 2020
Cash flows from operating activities:    
Net income (loss) $ 95 $ (216)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 286 316
Gain on disposal of property and equipment—net 0 (15)
Asset Impairment Charges 7 9
Loss on extinguishment of debt 23 0
Amortization of deferred financing costs 10 12
Deferred tax provision (benefit) 19 (65)
Share-based compensation expense 36 29
(Benefit) provision for doubtful accounts (18) 80
Changes in operating assets and liabilities:    
(Increase) decrease in receivables (530) 182
(Increase) decrease in inventories—net (292) 161
Decrease in prepaid expenses and other assets 9 30
Increase in accounts payable and cash overdraft liability 780 19
Increase (decrease) in accrued expenses and other liabilities 95 (9)
Net cash provided by operating activities 520 533
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 2 33
Purchases of property and equipment (173) (154)
Net cash used in investing activities (166) (1,087)
Cash flows from financing activities:    
Proceeds from debt borrowings 900 3,645
Principal payments on debt and financing leases (1,291) (2,640)
Net proceeds from issuance of Series A convertible preferred stock 0 491
Dividends, Preferred Stock, Cash (18) 0
Debt financing costs and fees (18) (33)
Proceeds from employee stock purchase plan 16 15
Proceeds from exercise of stock options 13 2
Tax withholding payments for net share-settled equity awards (13) (5)
Net cash (used in) provided by financing activities (411) 1,475
Net (decrease) increase in cash, cash equivalents and restricted cash (57) 921
Cash, cash equivalents and restricted cash—beginning of period 829 98
Cash, cash equivalents and restricted cash—end of period 772 1,019
Supplemental disclosures of cash flow information:    
Interest paid—net of amounts capitalized 134 122
Income taxes paid—net 0 3
Property and equipment purchases included in accounts payable 32 11
Property and equipment transferred to assets held for sale 11 24
Leased assets obtained in exchange for financing lease liabilities 24 63
Leased assets obtained in exchange for operating lease liabilities 24 21
Cashless exercise of stock options 1 0
Paid-in-kind Series A convertible preferred stock dividends $ 15 $ 5