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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 24, 2022
Cash flows from operating activities:    
Net Income (Loss) $ 176 $ 149
Income from discontinued operations, net of tax   7
Net income from continuing operations 176 142
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 87 100
Amortization of debt discount and issuance costs 1  
Charges for losses on receivables and inventories 16 15
Asset impairments 13 8
Gain on disposition of assets, net (3) (4)
Compensation expense for share-based payments 28 31
Deferred income taxes and deferred tax asset valuation allowances 39 33
Changes in working capital and other operating activities (96) (246)
Net cash provided by operating activities of continuing operations 261 79
Net cash provided by operating activities 261 79
Cash flows from investing activities:    
Capital expenditures (76) (68)
Businesses acquired, net of cash acquired (9)  
Proceeds from disposition of assets 105 6
Settlement of company-owned life insurance policies 3 3
Net cash provided by (used in) investing activities of continuing operations 23 (59)
Net cash provided by investing activities of discontinued operations 5 74
Net cash provided by investing activities 28 15
Cash flows from financing activities:    
Net payments on long and short-term borrowings (12) (16)
Debt retirement (204) (43)
Debt issuance 200  
Share purchases for taxes, net of proceeds from employee share-based transactions (26) (19)
Repurchase of common stock for treasury (264) (69)
Other financing activities   (4)
Net cash used in financing activities of continuing operations (306) (151)
Net cash used in financing activities (306) (151)
Effect of exchange rate changes on cash, cash equivalents and restricted cash   (6)
Net decrease in cash, cash equivalents and restricted cash (17) (63)
Cash, cash equivalents and restricted cash at beginning of period 404 537
Cash, cash equivalents and restricted cash at end of period 387 474
Supplemental information on non-cash investing and financing activities    
Right-of-use assets obtained in exchange for new operating lease liabilities 275 171
Promissory note receivable obtained from disposition of discontinued operations 59 55
Cash taxes paid, net 27  
Earn-out receivable obtained from disposition of discontinued operations 9 9
Cash interest paid, net of amounts capitalized and non-recourse debt 5  
Right-of-use assets obtained in exchange for new finance lease liabilities $ 4 2
Other current receivable obtained from disposition of discontinued operations   30
Transfer from additional paid-in capital to treasury stock for final settlement of the accelerated share repurchase agreement   $ 29