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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Cash flows from operating activities:    
Net income $ 136 $ 115
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 41 43
Share-based compensation 51 17
Deferred income taxes (23) (21)
Unrealized gain on forward interest rate swaps 0 (20)
Other, net 1 1
Changes in operating assets and liabilities:    
Accounts receivable, net 84 (80)
Inventories, net 15 98
Other assets 3 (9)
Accounts payable (76) 13
Accrued liabilities (110) (28)
Deferred revenue 16 (9)
Income taxes 42 43
Settlement liability 0 (45)
Cash receipts on forward interest rate swaps 0 7
Other operating activities (2) 0
Net cash provided by operating activities 178 125
Cash flows from investing activities:    
Acquisition of businesses (62) 0
Purchases of property, plant and equipment (20) (14)
Proceeds from sale of short-term investments 0 3
Net cash used in investing activities (82) (11)
Cash flows from financing activities:    
Payments of debt 0 (284)
Proceeds from issuance of debt 0 151
Payments for repurchases of common stock (125) 0
Net payments related to share-based compensation plans (1) (3)
Change in unremitted cash collections from servicing factored receivables 2 9
Other financing activities 5 3
Net cash used in financing activities (119) (124)
Effect of exchange rate changes on cash and cash equivalents, including restricted cash 1 (1)
Net decrease in cash and cash equivalents, including restricted cash (22) (11)
Cash and cash equivalents, including restricted cash, at beginning of period 901 138
Cash and cash equivalents, including restricted cash, at end of period 879 127
Less restricted cash, included in Prepaid expenses and other current assets 0 0
Cash and cash equivalents at end of period 879 127
Supplemental disclosures of cash flow information:    
Income taxes paid 9 3
Interest paid inclusive of forward interest rate swaps $ 16 $ 30