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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Oct. 01, 2022
Oct. 02, 2021
Oct. 01, 2022
Oct. 02, 2021
Statement of Comprehensive Income [Abstract]        
Net sales $ 8,917 $ 7,890 $ 25,542 $ 21,848
Cost of goods sold 7,457 6,649 21,504 18,435
Gross profit 1,460 1,241 4,038 3,413
Operating expenses:        
Distribution, selling and administrative costs 1,246 1,099 3,640 3,115
Restructuring costs and asset impairment charges 0 7 0 11
Total operating expenses 1,246 1,106 3,640 3,126
Operating income 214 135 398 287
Other income—net (5) (6) (16) (19)
Interest expense—net 65 50 180 158
Loss on extinguishment of debt 0 0 0 23
Income before income taxes 154 91 234 125
Income tax provision 45 27 62 30
Net income 109 64 172 95
Other comprehensive income —net of tax:        
Changes in retirement benefit obligations 0 0 0 0
Recognition of interest rate swaps 0 1 0 5
Comprehensive income 109 65 172 100
Net income 109 64 172 95
Series A convertible preferred stock dividends (9) (9) (27) (33)
Net income available to common shareholders $ 100 $ 55 $ 145 $ 62
Net income per share        
Earnings Per Share, Basic $ 0.44 $ 0.25 $ 0.65 $ 0.28
Earnings Per Share, Diluted $ 0.43 $ 0.24 $ 0.64 $ 0.28
Weighted-average common shares outstanding        
Weighted Average Number of Shares Outstanding, Basic 225 222 224 222
Weighted Average Number of Shares Outstanding, Diluted 251 225 226 225