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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 25, 2021
Dec. 26, 2020
Cash flows from operating activities:      
Net income (loss) $ 166 $ (208) $ (319)
Discontinued operations, net of tax (12) (395) (256)
Net income (loss) from continuing operations 178 187 (63)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 131 146 157
Amortization of debt discount and issuance costs 2 2 3
Charges for losses on receivables and inventories 19 22 33
Asset impairments 14 20 182
(Gain) loss on disposition of assets, net (4) (5) 4
Loss on extinguishment and modification of debt     12
Compensation expense for share-based payments 40 38 41
Deferred income taxes and deferred tax asset valuation allowances 40 (6) 11
Changes in assets and liabilities:      
Decrease (increase) in receivables (42) (61) 185
Decrease in inventories 13 35 76
Net decrease in prepaid expenses, operating lease right-of-use assets, and other assets 282 281 304
Net increase in trade accounts payable, accrued expenses, operating lease liabilities, and other current and other long-term liabilities (436) (312) (519)
Other operating activities   (3) (1)
Total adjustments 59 157 488
Net cash provided by operating activities of continuing operations 237 344 425
Net cash provided by operating activities of discontinued operations   2 60
Net cash provided by operating activities 237 346 485
Cash flows from investing activities:      
Capital expenditures (99) (73) (58)
Businesses acquired, net of cash acquired   (29) (30)
Proceeds from collection of notes receivable     818
Proceeds from disposition of assets 8 5 3
Settlement of company-owned life insurance policies 5 22 13
Net cash provided by (used in) investing activities of continuing operations (86) (75) 746
Net cash provided by (used in) investing activities of discontinued operations 76 (4) (10)
Net cash provided by (used in) investing activities (10) (79) 736
Cash flows from financing activities:      
Net payments on long and short-term borrowings (21) (25) (341)
Debt retirement (43) (100) (1,196)
Debt issuance     400
Cash dividends on common stock     (13)
Share purchases for taxes, net of proceeds from employee share-based transactions (20) (26) (5)
Repurchase of common stock for treasury and advance payment for accelerated share repurchase (266) (307) (30)
Other financing activities (5) (1) (8)
Net cash used in financing activities of continuing operations (355) (459) (1,193)
Net cash used in financing activities (355) (459) (1,193)
Effect of exchange rate changes on cash and cash equivalents (5)   1
Net increase (decrease) in cash, cash equivalents and restricted cash (133) (192) 29
Cash, cash equivalents and restricted cash at beginning of period 537 729 700
Cash, cash equivalents and restricted cash at end of period 404 537 729
Less: cash and cash equivalents of discontinued operations   (23)  
Cash, cash equivalents and restricted cash at end of period — continuing operations 404 514 729
Supplemental information on operating, investing, and financing activities      
Right-of-use assets obtained in exchange for new finance lease liabilities 4 3 29
Right-of-use assets obtained in exchange for new operating lease liabilities 228 127 117
Cash taxes paid (refunded), net 17 43 (14)
Cash interest paid, net of amounts capitalized and Timber notes/Non-recourse debt 16 25 $ 40
Other current and noncurrent receivables obtained from disposition of discontinued operations 9    
Promissory note receivable obtained from disposition of discontinued operations 55    
Earn-out receivable obtained from disposition of discontinued operations 9    
Transfer from additional paid-in capital to treasury stock for final settlement of the accelerated share repurchase agreement $ 29    
Business acquired in exchange for common stock issuance   $ 35