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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 24, 2016
Sep. 26, 2015
Sep. 24, 2016
Sep. 26, 2015
Sales $ 2,836 $ 3,046 $ 8,295 $ 8,961
Cost of goods sold and occupancy costs 2,110 2,259 6,241 6,754
Gross profit 726 787 2,054 2,207
Selling, general and administrative expenses 569 626 1,694 1,852
Asset impairments 9 1 9 10
Merger, restructuring, and other operating (income) expenses, net 31 79 (122) 204
Operating income 117 81 473 141
Other income (expense):        
Interest income 6 5 17 16
Interest expense (19) (22) (63) (69)
Loss on extinguishment of debt (15)   (15)  
Other income (expense), net 1 (1) 1  
Income from continuing operations before income taxes 90 63 413 88
Income tax expense (benefit) (240) 21 (211) 28
Net income from continuing operations 330 42 624 60
Discontinued operations, net of tax (286) (36) (324) (67)
Net income (loss) $ 44 $ 6 $ 300 $ (7)
Basic earnings (loss) per share        
Continuing operations $ 0.62 $ 0.08 $ 1.15 $ 0.11
Discontinued operations (0.54) (0.07) (0.60) (0.12)
Net earnings (loss) per share 0.08 0.01 0.55 (0.01)
Diluted earnings (loss) per share        
Continuing operations 0.61 0.08 1.13 0.11
Discontinued operations (0.54) (0.07) (0.60) (0.12)
Net earnings (loss) per share 0.08 $ 0.01 0.54 $ (0.01)
Dividends per common share $ 0.025   $ 0.025