DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Sep. 24, 2022

Discontinued Operations And Disposal Groups [Abstract]

Major Component of Discontinued Operations, Net of Tax and Major Classes of Assets and Liabilities of Disposal Group Classified as Held for Sale

The following table represents a reconciliation of the major components of discontinued operations, net of tax presented in the Condensed Consolidated Statements of Operations.

	Third Quarter					Year-to-Date
(In millions)	2022		2021			2022			2021
Major components of discontinued operations before income taxes:
Sales	$	—	$	201		$	—		$	610
Cost of goods and occupancy costs:		—		161			—			491
Gross profit		—		40			—			119
Selling, general and administrative expenses		—		29			—			117
Asset impairments				—			—			114
Merger, restructuring and other operating expenses, net		—		—			—			(2	)
Operating income (loss)		—		11			—			(110	)
Other income (expense):
Other income, net		—		—			—			(1	)
Income (loss) from major components of discontinued operations before income taxes		—		11			—			(111	)
Gain (loss) on disposal of discontinued operations		—		(1	)		6			(1	)
Income (loss) from discontinued operations before income taxes		—		10			6			(112	)
Income tax benefit		—		(18	)		(1	)		(23	)
Discontinued operations, net of tax	$	—	$	28		$	7		$	(89	)

The following table represents the major classes of assets and liabilities of the disposal group classified as held for sale presented in the Condensed Consolidated Balance Sheets as of December 25, 2021. The Company completed the sale of CompuCom on December 31, 2021, and therefore no assets or liabilities are included in discontinued operations as of September 24, 2022.

	December 25,
(In millions)	2021
Major classes of assets included in discontinued operations:
Cash and cash equivalents	$	23
Receivables, net		221
Inventories		20
Prepaid expenses and other current assets		15
Property and equipment, net		25
Operating lease right-of-use assets		66
Other intangible assets, net		255
Other assets		14
Less: valuation allowance		(170	)
Total assets of the disposal group classified as held for sale	$	469
Major classes of liabilities included in discontinued operations:
Trade accounts payable	$	83
Accrued expenses and other current liabilities		86
Deferred income taxes and other long-term liabilities		75
Operating lease liabilities		46
Total liabilities of the disposal group classified as held for sale	$	290