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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 29, 2018

Accounting Standards Update 2014-09

Impacts of Adoption of New Standard on Company's Balance Sheet and Statement of Operations

The following tables summarize the impact of adopting the new standard on the Company’s Condensed Consolidated Balance Sheet as of September 29, 2018 and Statement of Operations for the third quarter and year-to-date 2018. Adoption of the new standard had no impact to the cash flows from operating, financing, or investing activities in the Company’s Condensed Consolidated Statements of Cash Flows.

		Third Quarter of 2018								Year-to-Date 2018
(In millions)		As reported				As if the previous accounting guidance was in effect				As reported				As if the previous accounting guidance was in effect
Sales - Products		$	2,453			$	2,453			$	7,072			$	7,066
Sales - Services			434				443				1,273				1,320
Total Sales			2,887				2,896				8,345				8,386
Cost of goods sold and occupancy costs - Products			1,906				1,906				5,534				5,531
Cost of goods sold and occupancy costs - Services			295				304				862				909
Total Cost of goods sold and occupancy costs			2,201				2,210				6,396				6,440
Gross profit			686				686				1,949				1,946
Net income			60				60				118				116
Diluted earnings per share			0.11				0.11				0.21				0.21

		As of September 29, 2018
(In millions)		As reported				As if the previous accounting guidance was in effect
Receivables, net		$	950			$	955
Prepaid expenses and other current assets			112				102
Deferred income taxes			272				270
Accrued expenses and other current liabilities			1,048				1,043
Stockholders’ equity			2,197				2,197

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- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

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