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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 24, 2016
Sep. 30, 2017
Sep. 24, 2016
Sales $ 2,620 $ 2,836 $ 7,659 $ 8,295
Cost of goods sold and occupancy costs 1,987 2,110 5,805 6,241
Gross profit 633 726 1,854 2,054
Selling, general and administrative expenses 503 569 1,509 1,694
Asset impairments   9 1 9
Merger, restructuring, and other operating (income) expenses, net 22 31 62 (122)
Operating income 108 117 282 473
Other income (expense):        
Interest income 6 6 17 17
Interest expense (13) (19) (39) (63)
Loss on extinguishment of debt   (15)   (15)
Other income (expense), net (1) 1 (2) 1
Income from continuing operations before income taxes 100 90 258 413
Income tax expense (benefit) 2 (240) 63 (211)
Net income from continuing operations 98 330 195 624
Discontinued operations, net of tax (6) (137) 38 (175)
Net income $ 92 $ 193 $ 233 $ 449
Basic earnings (loss) per share        
Continuing operations $ 0.19 $ 0.62 $ 0.38 $ 1.15
Discontinued operations (0.01) (0.26) 0.07 (0.32)
Net earnings per share 0.18 0.36 0.45 0.82
Diluted earnings (loss) per share        
Continuing operations 0.19 0.61 0.37 1.13
Discontinued operations (0.01) (0.25) 0.07 (0.32)
Net earnings per share 0.17 0.35 0.44 0.81
Dividends per common share $ 0.025 $ 0.025 $ 0.075 $ 0.025