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Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Income Statement [Abstract]        
Net revenue $ 1,943 $ 1,589 $ 3,713 $ 3,075
Cost of goods sold 1,374 1,142 2,633 2,228
Gross profit 569 447 1,080 847
Operating expenses:        
Research and development expenses 41 21 76 46
Selling, general and administrative expenses 319 280 625 511
Intangible asset amortization 30 13 60 22
Restructuring, impairment and extinguishment costs 2 11 6 18
Total operating expenses 392 325 767 597
Income from operations 177 122 313 250
Indemnification Agreement expense 882 47 972 90
Other expenses, net 9 1 15 0
Interest expense, net 24 15 49 28
Net (loss) income before taxes (738) 59 (723) 132
Provision for income taxes 87 29 96 59
Net (loss) income (825) 30 (819) 73
Less: preferred stock dividends 8 2 17 2
Net (loss) income available to common stockholders, basic (833) 28 (836) 71
Net (loss) income available to common stockholders, diluted $ (833) $ 28 $ (836) $ 71
(Loss) earnings per common share:        
Basic (in dollars per share) $ (5.59) $ 0.19 $ (5.65) $ 0.49
Diluted (in dollars per share) $ (5.59) $ 0.19 $ (5.65) $ 0.48
Weighted average common shares outstanding:        
Basic (in shares) 149 146 148 146
Diluted (in shares) 149 149 148 148