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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Apr. 01, 2023
Mar. 26, 2022
Cash flows from operating activities:    
Net income $ 72 $ 55
Net income from continuing operations 72 55
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 30 34
Amortization of debt discount and issuance costs 1  
Charges for losses on receivables and inventories 5 6
Asset impairments 4 2
Gain on disposition of assets, net (1) (3)
Compensation expense for share-based payments 9 9
Deferred income taxes and deferred tax asset valuation allowances 17 10
Changes in working capital and other operating activities 20 (83)
Net cash provided by operating activities of continuing operations 157 30
Net cash provided by operating activities 157 30 Close
Cash flows from investing activities:    
Capital expenditures (27) (21)
Businesses acquired, net of cash acquired (10)  
Proceeds from disposition of assets 1 6
Settlement of company-owned life insurance policies   1
Net cash used in investing activities of continuing operations (36) (14)
Net cash provided by investing activities of discontinued operations 5 67
Net cash provided by (used in) investing activities (31) 53 Close
Cash flows from financing activities:    
Net payments on long and short-term borrowings (5) (6)
Debt retirement (60) (43)
Debt issuance 100  
Share purchases for taxes, net of proceeds from employee share-based transactions (19) (14)
Repurchase of common stock for treasury (201)  
Other financing activities   (1)
Net Cash Provided by (Used in) Financing Activities, Continuing Operations, Total (185) (64)
Net cash used in financing activities (185) (64) Close
Effect of exchange rate changes on cash, cash equivalents and restricted cash   1 Close
Net increase (decrease) in cash, cash equivalents and restricted cash (59) 20 Close
Cash, cash equivalents and restricted cash at beginning of period 404 537
Cash, cash equivalents and restricted cash at end of period 345 557
Supplemental information on non-cash investing and financing activities    
Right-of-use assets obtained in exchange for new operating lease liabilities 70 35
Promissory note receivable obtained from disposition of discontinued operations 59 55
Earn-out receivable obtained from disposition of discontinued operations 9 9
Cash interest paid, net of amounts capitalized and non-recourse debt $ 4  
Other current receivable obtained from disposition of discontinued operations   $ 30