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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 26, 2021
Jun. 27, 2020
Cash flows from operating activities:    
Net income $ 202 $ 31
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 153 252
Equity-based compensation 78 19
Deferred taxes 0 5
Foreign exchange (gain) loss, net (15) (6)
Other operating activities 29 27
Change in assets and liabilities:    
Accounts receivable, net 100 126
Deferred costs (32) (22)
Other assets (45) (14)
Other current liabilities 6 (29)
Deferred revenue 10 (27)
Other liabilities (38) (86)
Net cash provided by operating activities 448 288
Cash flows from investing activities:    
Acquisitions, net of cash acquired 0 (5)
Additions to property and equipment (14) (25)
Other investing activities (4) (3)
Net cash used in investing activities (18) (33)
Cash flows from financing activities:    
Proceeds from the issuance of Member units 0 1
Payment for the long-term debt (22) (21)
Distributions to members of FTW (148) (130)
Payment of dividends (33) 0
Payment of tax withholding for shares and units withheld (38) (2)
Payment of IPO related expenses (3) 0
Other financing activities 5 (10)
Net cash used in financing activities (239) (162)
Effect of exchange rate fluctuations on cash and cash equivalents (2) (3)
Change in cash and cash equivalents 189 90
Cash and cash equivalents, beginning of period 231 167
Cash and cash equivalents, end of period 420 257
Supplemental disclosures of noncash investing and financing activities and cash flow information:    
Acquisition of property and equipment included in current liabilities (6) (5)
Distributions to members of FTW included in liabilities (31) (1)
Dividends payable included in liabilities (19) 0
Other 0 3
Cash paid during the period for:    
Interest, net of cash flow hedges (101) (141)
Income taxes, net of refunds $ (29) $ (22)