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Consolidated Balance Sheets - USD ($)
$ in Millions
Apr. 01, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 292 $ 211
Accounts receivable, less allowances of $32 and $30 1,834 1,705
Vendor receivables, less allowances of $8 and $8 202 143
Inventories—net 1,625 1,616
Prepaid expenses 116 124
Assets held for sale 2 2
Other current assets 23 19
Total current assets 4,094 3,820
Property and equipment—net 2,172 2,171
Goodwill 5,625 5,625
Other intangibles—net 774 785
Other assets 373 372
Total assets 13,038 12,773
Current liabilities:    
Cash overdraft liability 199 175
Accounts payable 2,134 1,855
Accrued expenses and other current liabilities 602 650
Current portion of long-term debt 117 116
Total current liabilities 3,052 2,796
Long-term debt 4,693 4,738
Deferred tax liabilities 303 298
Other long-term liabilities 438 446
Total liabilities 8,486 8,278
Commitments and contingencies (Note 16)
Series A convertible preferred stock, $0.01 par value—25 shares authorized; 0.4 and 0.5 issued and outstanding as of April 1, 2023 and December 31, 2022, respectively 373 534
Shareholders’ equity:    
Common stock, $0.01 par value—600 shares authorized; 233.9 issued and 232.6 outstanding as of April 1, 2023, and 225.2 issued and 224.8 outstanding as of December 31, 2022 2 2
Additional paid-in capital 3,212 3,036
Retained earnings 1,085 1,010
Accumulated other comprehensive loss (72) (73)
Total shareholders’ equity 4,179 3,961
Total liabilities, mezzanine equity and shareholders’ equity 13,038 12,773
Treasury Stock, Value $ (48) $ (14)