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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jul. 02, 2022
Jul. 03, 2021
Cash flows from operating activities:    
Net income $ 63 $ 31
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 181 195
Gain on disposal of property and equipment—net (2) 0
Loss on extinguishment of debt 0 23
Amortization of deferred financing costs 6 7
Deferred tax provision 7 6
Share-based compensation expense 21 23
Benefit for doubtful accounts 0 (13)
Changes in operating assets and liabilities:    
Increase in receivables (363) (516)
Increase inventories—net (107) (286)
Increase in prepaid expenses and other assets (5) (24)
Increase in accounts payable and cash overdraft liability 450 721
Increase in accrued expenses and other liabilities 8 83
Net cash provided by operating activities 259 250
Proceeds from Divestiture of Businesses 0 5
Cash flows from investing activities:    
Proceeds from sales of property and equipment 3 1
Purchases of property and equipment (143) (107)
Net cash used in investing activities (140) (101)
Cash flows from financing activities:    
Proceeds from debt borrowings 1,032 900
Principal payments on debt and financing leases (1,087) (1,161)
Dividends, Preferred Stock, Cash (18) (9)
Debt financing costs and fees 0 (18)
Proceeds from employee stock purchase plan 12 10
Proceeds from exercise of stock options 7 12
Tax withholding payments for net share-settled equity awards (16) (13)
Net cash used in financing activities (70) (279)
Net increase (decrease) in cash, and cash equivalents and restricted cash 49 (130)
Cash, cash equivalents and restricted cash—beginning of period 148 829
Cash, cash equivalents and restricted cash—end of period 197 699
Supplemental disclosures of cash flow information:    
Interest paid—net of amounts capitalized 105 88
Income taxes paid—net 13 0
Property and equipment purchases included in accounts payable 26 27
Property and equipment transferred to assets held for sale 0 9
Leased assets obtained in exchange for financing lease liabilities 57 14
Leased assets obtained in exchange for operating lease liabilities 6 20
Cashless exercise of stock options 1 1
Paid-in-kind Series A convertible preferred stock dividends $ 0 $ 15