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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 25, 2016
Jun. 27, 2015
Jun. 25, 2016
Jun. 27, 2015
Sales $ 3,218 $ 3,440 $ 6,762 $ 7,317
Cost of goods sold and occupancy costs 2,471 2,626 5,159 5,566
Gross profit 747 814 1,603 1,751
Selling, general and administrative expenses 681 741 1,421 1,543
Asset impairments   4   9
Merger, restructuring, and other operating (income) expenses, net (187) 120 (143) 163
Operating income (loss) 253 (51) 325 36
Other income (expense):        
Interest income 6 6 12 12
Interest expense (25) (23) (48) (48)
Other income (expense), net   1   2
Income (loss) before income taxes 234 (67) 289 2
Income tax expense (benefit) 24 (9) 33 15
Net income (loss) $ 210 $ (58) $ 256 $ (13)
Net earnings (loss) per share        
Basic $ 0.38 $ (0.11) $ 0.47 $ (0.02)
Diluted $ 0.38 $ (0.11) $ 0.46 $ (0.02)