DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2016

Major Component of Discontinued Operations-Net of Tax, Assets and Liabilities of Discontinued Operations

The major components of Discontinued operations, net of tax presented in the Consolidated Statements of Operations for the years ended December 31, 2016, December 26, 2015 and December 27, 2014 include the following.

(In millions)	2016			2015			2014
Sales	$	2,564		$	2,758		$	3,386
Cost of goods sold and occupancy costs		2,019			2,119			2,586
Operating expenses		573			617			746
Asset impairments		90			—			32
Restructuring charges		11			90			69
Interest income		1			2			2
Interest expense		(5	)		(2	)		(2	)
Other income (expense), net		(2	)		—			(2	)
Loss on sale or held for sale classification		(223	)		—			—
Income tax expense (benefit)		(208	)		16			10
Discontinued operations, net of tax	$	(150	)	$	(84	)	$	(59	)

 Assets and liabilities of discontinued operations presented in the Consolidated Balance Sheets at December 31, 2016, and December 26, 2015 are included in the following table. As the sale of the OD European Business was completed before year end 2016, accordingly, the assets and liabilities of that business are not included as of December 31, 2016.

(In millions)	2016			2015
Assets
Cash and cash equivalents	$	44		$	209
Receivables, net		88			420
Inventories		82			292
Prepaid expenses and other current assets		4			35
Property and equipment, net		31			—
Other assets		6			—
Valuation allowance		(113	)		—
Current assets of discontinued operations	$	142		$	956
Property and equipment, net	$	—		$	119
Goodwill		—			15
Other assets		—			48
Non-current assets of discontinued operations	$	—		$	182
Liabilities
Trade accounts payable	$	60		$	331
Accrued expenses and other current liabilities		27			282
Income taxes payable		2			4
Short-term borrowings and current maturities of long-term debt		9			5
Deferred income taxes and other long-term liabilities		6			—
Current liabilities of discontinued operations	$	104		$	622
Deferred income taxes and other long-term liabilities	$	—		$	40
Long-term debt, net of current maturities		—			6
Non-current liabilities of discontinued operations	$	—		$	46