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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 28, 2024
Dec. 30, 2023
Current assets:    
Cash and cash equivalents $ 166 $ 381
Receivables, net 466 485
Inventories 770 765
Prepaid expenses and other current assets 30 28
Current assets held for sale 6 80
Total current assets 1,438 1,739
Property and equipment, net 299 297
Operating lease right-of-use assets 954 983
Goodwill 411 403
Other intangible assets, net 48 45
Deferred income taxes 102 142
Other assets 277 278
Total assets 3,529 3,887
Current liabilities:    
Trade accounts payable 697 755
Accrued expenses and other current liabilities 835 915
Income taxes payable 2 6
Short-term borrowings and current maturities of long-term debt 9 9
Current liabilities held for sale   12
Total current liabilities 1,543 1,697
Deferred income taxes and other long-term liabilities 116 120
Pension and postretirement obligations, net 14 15
Long-term debt, net of current maturities 270 165
Operating lease liabilities, net of current portion 779 [1] 789
Total liabilities 2,722 2,786
Contingencies (Note 15)
Stockholders’ equity:    
Common stock - authorized 80,000,000 shares of $0.01 par value; issued shares - 67,414,115 at December 28, 2024 and 66,700,292 at December 30, 2023; outstanding shares - 29,814,959 at December 28, 2024 and 36,959,377 at December 30, 2023 1 1
Additional paid-in capital 2,771 2,752
Accumulated other comprehensive loss (124) (114)
Accumulated deficit (315) (312)
Treasury stock, at cost - 37,599,156 shares at December 28, 2024 and 29,740,915 shares at December 30, 2023 (1,526) (1,226)
Total stockholders’ equity 807 1,101
Total liabilities and stockholders’ equity $ 3,529 $ 3,887
[1] Operating lease payments include $1 million related to options to extend lease terms that are reasonably certain of being exercised.