MERGER, RESTRUCTURING AND OTHER ACTIVITY (Tables)

9 Months Ended

Sep. 25, 2021

Merger Restructuring And Other Activity [Abstract]

Summary of Major Components of Merger, Restructuring and Other Operating Expenses, Net

The table below summarizes the major components of Merger, restructuring and other operating expenses, net.

	Third Quarter					Year-to-Date
(In millions)	2021			2020		2021			2020
Merger and transaction related expenses
Transaction and integration	$	(1	)	$	—		—			5
Total Merger and transaction related expenses		(1	)		—		—			5
Restructuring expenses
Severance		(1	)		2		(2	)		39
Professional fees		—			10		1			21
Facility closure, contract termination, and other expenses, net		5			12		14			24
Total Restructuring expenses, net		4			24		13			84
Other operating expenses
Professional fees		10			—		24			—
Total Other operating expenses		10			—		24			—
Total Merger, restructuring and other operating expenses, net	$	13		$	24	$	37		$	89

Facility Closure and Severance Costs

The activity in the merger, restructuring and other accruals in year-to-date 2021 is presented in the table below. Certain merger, restructuring and other charges are excluded from the table because they are paid as incurred or non-cash, such as accelerated depreciation and gains and losses on asset dispositions.

	Balance as of								Balance as of
	December 26,		Charges (credits)			Cash			September 25,
(In millions)	2020		Incurred			Payments			2021
Termination benefits:
Maximize B2B Restructuring Plan		27		(2	)		(5	)		20
Business Acceleration Program		2		—			(2	)		—
Lease and contract obligations, accruals for facilities closures and other costs:
Maximize B2B Restructuring Plan		10		9			(9	)		10
Business Acceleration Program		1		—			(1	)		—
Comprehensive Business Review		2		—			(1	)		1
USR Parent, Inc. proposals		—		4			(4	)		—
Planned separation of consumer business		—		20			(19	)		1
Total	$	42	$	31		$	(41	)	$	32