Accrued Liabilities, Commitments and Contingencies (Tables)

6 Months Ended

Jun. 29, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Components of Accrued Liabilities

The components of Accrued liabilities are as follows (in millions):

	June 29, 2024		December 31, 2023
Incentive compensation	$	88	$	47
Unremitted cash collections due to banks on factored accounts receivable	74		112
Payroll and benefits	69		83
Customer rebates	50		40
Current portion of lease liabilities	41		42
Warranty	27		27
Freight and duty	13		10
Exit and restructuring	6		22
Settlement	—		45
Other	58		76
Accrued liabilities	$	426	$	504

Schedule of Accrued Warranty Obligations

The following table is a summary of the Company’s accrued warranty obligations (in millions):

	Six Months Ended
	June 29, 2024		July 1, 2023
Balance at the beginning of the period	$	27	$	26
Warranty expense	13		13
Warranties fulfilled	(13)		(14)
Balance at the end of the period	$	27	$	25