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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Sep. 28, 2024
Sep. 30, 2023
Statement of Comprehensive Income [Abstract]        
Net sales $ 9,728 $ 9,106 $ 28,386 $ 26,661
Cost of goods sold 8,061 7,564 23,518 22,103
Gross profit 1,667 1,542 4,868 4,558
Operating expenses:        
Distribution, selling and administrative costs 1,379 1,312 4,050 3,819
Restructuring activity and asset impairment charges 9 0 21 0
Total operating expenses 1,388 1,312 4,071 3,819
Operating income 279 230 797 739
Other expense (income)—net 3 (1) 5 (4)
Interest expense—net 75 81 235 244
Loss on extinguishment of debt 0 21 0 21
Income before income taxes 201 129 557 478
Income tax provision 53 34 129 119
Net income 148 95 428 359
Other comprehensive income—net of tax:        
Changes in retirement benefit obligations 1 1 4 1
Derivative, Gain on Derivative 0 0 0 1
Comprehensive income 149 96 432 361
Net income 148 95 428 359
Series A convertible preferred stock dividends 0 0 0 (7)
Net income available to common shareholders $ 148 $ 95 $ 428 $ 352
Net income per share        
EPS basic (in dollars per share) $ 0.61 $ 0.38 $ 1.75 $ 1.49
EPS diluted (in dollars per share) $ 0.61 $ 0.38 $ 1.74 $ 1.43
Weighted-average common shares outstanding        
Basic weighted average shares outstanding (in shares) 241 247 244 237
Diluted weighted average shares outstanding (in shares) 244 249 247 251