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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Cash flows from operating activities:    
Net income $ 280 $ 264
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 213 193
Gain on disposal of property and equipment, net (1) (2)
Amortization of deferred financing costs 5 10
Deferred tax (benefit) provision (11) 1
Share-based compensation expense 30 28
Provision for doubtful accounts 15 16
Changes in operating assets and liabilities:    
Increase in receivables (181) (199)
Decrease in inventories 19 85
Decrease (increase) in prepaid expenses and other assets 13 (6)
Increase in accounts payable and cash overdraft liability 277 309
Decrease in accrued expenses and other liabilities (38) (46)
Net cash provided by operating activities 621 653
Cash flows from investing activities:    
Proceeds from sales of property and equipment 2 2
Purchases of property and equipment (156) (108)
Acquisition of businesses—net of cash received (214) 0
Net cash used in investing activities (368) (106)
Cash flows from financing activities:    
Principal payments on debt and financing leases (1,568) (446)
Principal payments on debt repricing (14) 0
Proceeds from debt repricing 14 0
Proceeds from debt borrowings 1,503 255
Dividends paid on Series A convertible preferred stock 0 (7)
Repurchase of common stock (54) (202)
Debt financing costs and fees (1) 0
Proceeds from employee stock purchase plan 14 13
Proceeds from exercise of stock options 9 22
Payments to Purchase Interest Rate Caps 0 (3)
Tax withholding payments for net share-settled equity awards (20) (11)
Net cash used in financing activities (117) (379)
Net increase in cash, and cash equivalents and restricted cash 136 168
Cash, cash equivalents and restricted cash—beginning of period 269 211
Cash, cash equivalents and restricted cash—end of period 405 379
Supplemental disclosures of cash flow information:    
Conversion of Series A Convertible Preferred Stock 0 534
Interest paid—net of amounts capitalized 147 147
Income taxes paid—net 57 67
Property and equipment purchases included in accounts payable 29 24
Leased assets obtained in exchange for financing lease liabilities 94 81
Leased assets obtained in exchange for operating lease liabilities 19 22
Cashless exercise of stock options $ 5 $ 1