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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jul. 02, 2022
Jul. 03, 2021
Jul. 02, 2022
Jul. 03, 2021
Statement of Comprehensive Income [Abstract]        
Net sales $ 8,827 $ 7,663 $ 16,625 $ 13,958
Cost of goods sold 7,444 6,494 14,047 11,786
Gross profit 1,383 1,169 2,578 2,172
Operating expenses:        
Distribution, selling and administrative costs 1,233 1,044 2,394 2,016
Restructuring costs and asset impairment charges 0 1 0 4
Total operating expenses 1,233 1,045 2,394 2,020
Operating income 150 124 184 152
Other income—net (5) (6) (11) (13)
Interest expense—net 60 54 115 108
Loss on extinguishment of debt 0 0 0 23
Income before income taxes 95 76 80 34
Income tax provision 25 21 17 3
Net income 70 55 63 31
Other comprehensive income —net of tax:        
Changes in retirement benefit obligations 0 0 0 0
Recognition of interest rate swaps 0 2 0 4
Comprehensive income 70 57 63 35
Net income 70 55 63 31
Series A convertible preferred stock dividends (9) (9) (18) (24)
Net income available to common shareholders $ 61 $ 46 $ 45 $ 7
Net income per share        
Earnings Per Share, Basic $ 0.27 $ 0.21 $ 0.20 $ 0.03
Earnings Per Share, Diluted $ 0.27 $ 0.20 $ 0.20 $ 0.03
Weighted-average common shares outstanding        
Weighted Average Number of Shares Outstanding, Basic 224 222 224 221
Weighted Average Number of Shares Outstanding, Diluted 226 225 226 225