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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 30, 2023
Dec. 31, 2022
Dec. 25, 2021
Cash flows from operating activities:      
Net income (loss) $ 139 $ 166 $ (208)
Discontinued operations, net of tax   (12) (395)
Net income (loss) from continuing operations 139 178 187
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 115 131 146
Amortization of debt discount and issuance costs 2 2 2
Charges for losses on receivables and inventories 28 19 22
Asset impairments 85 14 20
Gain on disposition of assets, net (4) (4) (5)
Compensation expense for share-based payments 36 40 38
Deferred income taxes and deferred tax asset valuation allowances 40 40 (6)
Changes in assets and liabilities:      
Decrease (increase) in receivables 41 (42) (61)
Decrease in inventories 47 13 35
Net decrease in prepaid expenses, operating lease right-of-use assets, and other assets 277 282 281
Net increase in trade accounts payable, accrued expenses, operating lease liabilities, and other current and other long-term liabilities (474) (436) (312)
Other operating activities (1)   (3)
Total adjustments 192 59 157
Net cash provided by operating activities of continuing operations 331 237 344
Net cash provided by operating activities of discontinued operations     2
Net cash provided by operating activities 331 237 346 Close
Cash flows from investing activities:      
Capital expenditures (105) (99) (73)
Businesses acquired, net of cash acquired (16)   (29)
Proceeds from disposition of assets 109 8 5
Settlement of company-owned life insurance policies 5 5 22
Net cash used in investing activities of continuing operations (7) (86) (75)
Net cash provided by (used in) investing activities of discontinued operations 5 76 (4)
Net cash used in investing activities (2) (10) (79) Close
Cash flows from financing activities:      
Net payments on long and short-term borrowings (15) (21) (25)
Debt retirement (204) (43) (100)
Debt issuance 200    
Share purchases for taxes, net of proceeds from employee share-based transactions (26) (20) (26)
Repurchase of common stock for treasury and advance payment for accelerated share repurchase (295) (266) (307)
Other financing activities   (5) (1)
Net cash used in financing activities of continuing operations (340) (355) (459)
Net cash used in financing activities (340) (355) (459) Close
Effect of exchange rate changes on cash and cash equivalents 2 (5)   Close
Net decrease in cash, cash equivalents and restricted cash (9) (133) (192) Close
Cash, cash equivalents and restricted cash at beginning of period 404 537 729
Cash, cash equivalents and restricted cash at end of period 395 404 537
Less: cash and cash equivalents of discontinued operations     (23)
Cash, cash equivalents and restricted cash at end of period — continuing operations 395 404 514
Supplemental information on operating, investing, and financing activities      
Right-of-use assets obtained in exchange for new operating lease liabilities 375 228 127
Promissory note receivable obtained from disposition of discontinued operations 59 55  
Cash taxes paid, net 35 17 43
Earn-out receivable obtained from disposition of discontinued operations 9 9  
Right-of-use assets obtained in exchange for new finance lease liabilities 7 4 3
Cash interest paid, net of amounts capitalized and non-recourse debt $ 16 16 25
Other current and noncurrent receivables obtained from disposition of discontinued operations   9  
Transfer from additional paid-in capital to treasury stock for final settlement of the accelerated share repurchase agreement   $ 29  
Business acquired in exchange for common stock issuance     $ 35