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Discontinued Operations (Tables)
 12 Months Ended
Dec. 29, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Disposal Groups, Including Discontinued Operations
The following table presents the major components of net income from discontinued operations included in the consolidated statements of income.
Fiscal Year
202420232022
(in millions)
Sales$2,362 $3,337 $2,872 
Cost of sales2,037 2,980 2,623 
Gross profit 325 357 250 
Selling, general and administrative expenses151 164 144 
Operating gains
(15)(7)(2)
Operating profit188 199 108 
Interest expense4 11 9 
Non-operating losses— 3 2 
Income from discontinued operations before income taxes 184 185 97 
Income tax on discontinued operations (1)
13 30 27 
Net income from discontinued operations$172 $155 $70 
________________
(1)Income tax on discontinued operations for 2024 includes a $22 million income tax benefit recognized as a result of the carve-out of our European operations.

The following tables present the carrying amounts of the major classes of assets and liabilities of the discontinued operations included in the consolidated balance sheets.
Assets
December 29,
2024		December 31,
2023
Current assets:
Cash and cash equivalents$— $61 
Accounts receivable, net— 412 
Inventories, net
— 460 
Prepaid expenses and other current assets— 25 
Total current assets— 958 
Property, plant and equipment, net— 911 
Goodwill— 253 
Intangible assets, net— 114 
Other assets— 69 
Total long-term assets$— $1,347 
Liabilities
December 29,
2024		December 31,
2023
Current liabilities:
Accounts payable$— $182 
Current portion of long-term debt and finance lease obligations— 68 
Accrued expenses and other current liabilities— 156 
Total current liabilities— 406 
Deferred income taxes, net— 30 
Long-term debt and finance lease obligations— 8 
Other liabilities— 48 
Total long-term liabilities$— $86