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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 428 $ 359
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 327 290
Gain on disposal of property and equipment—net (1) (5)
Loss on extinguishment of debt 0 21
Amortization of deferred financing costs 8 14
Deferred tax (benefit) provision (33) 5
Share-based compensation expense 46 43
Provision for doubtful accounts 21 20
Changes in operating assets and liabilities:    
Increase in receivables (282) (291)
(Increase) decrease in inventories (6) 45
Decrease in prepaid expenses and other assets 52 (14)
Increase in accounts payable and cash overdraft liability 316 434
Increase in accrued expenses and other liabilities 15 14
Net cash provided by operating activities 891 935
Cash flows from investing activities:    
Proceeds from sales of property and equipment 3 8
Purchases of property and equipment (236) (167)
Acquisition of businesses—net of cash received (214) (142)
Net cash used in investing activities (447) (301)
Cash flows from financing activities:    
Principal payments on debt and financing leases (2,470) (535)
Repurchase of Senior Note Debt 0 (1,000)
Issuance of new Senior Note Debt 0 1,000
Principal payments on debt repricing (14) (43)
Proceeds from debt repricing 14 43
Proceeds from debt borrowings 2,454 255
Dividends paid on Series A convertible preferred stock 0 (7)
Repurchase of common stock (628) (229)
Debt financing costs and fees (1) (10)
Proceeds from employee stock purchase plan 19 19
Proceeds from exercise of stock options 14 23
Payments to Purchase Interest Rate Caps 0 (3)
Tax withholding payments for net share-settled equity awards (20) (12)
Net cash used in financing activities (632) (499)
Net (decrease) increase in cash, cash equivalents and restricted cash (188) 135
Cash, cash equivalents and restricted cash—beginning of period 269 211
Cash, cash equivalents and restricted cash—end of period 81 346
Supplemental disclosures of cash flow information:    
Conversion of Series A Convertible Preferred Stock 0 534
Interest paid—net of amounts capitalized 233 239
Income taxes paid—net 139 126
Property and equipment purchases included in accounts payable 23 25
Leased assets obtained in exchange for financing lease liabilities 126 108
Leased assets obtained in exchange for operating lease liabilities 32 27
Cashless exercise of stock options $ 5 $ 1