(Loss) Earnings Per Share (Tables)

6 Months Ended

Jul. 02, 2022

Earnings Per Share [Abstract]

Schedule of Computation of (Loss) Earnings Per Share

(Loss) earnings per share (in millions, except share data):

	Three Months Ended				Six Months Ended
	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Basic:
Net (loss) income	$	(98)	$	219	$	107	$	447
Weighted-average shares outstanding (1)	52,138,470		53,449,143		52,642,348		53,460,495
Basic (loss) earnings per share	$	(1.87)	$	4.10	$	2.04	$	8.36
Diluted:
Net (loss) income	$	(98)	$	219	$	107	$	447
Weighted-average shares outstanding (1)	52,138,470		53,449,143		52,642,348		53,460,495
Dilutive shares (2)	—		459,152		391,381		469,608
Diluted weighted-average shares outstanding	52,138,470		53,908,295		53,033,729		53,930,103
Diluted (loss) earnings per share	$	(1.87)	$	4.07	$	2.02	$	8.29

(1) In periods of a net loss, restricted stock and performance share awards, which are participating securities, are excluded from weighted-average shares outstanding.

(2) In periods of net loss, all unvested share-based awards were anti-dilutive and therefore excluded from diluted shares.