v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Apr. 04, 2026
Mar. 29, 2025
Cash Flows From Operating Activities:    
Net income $ 38 $ 6
Adjustments to reconcile net income to net cash in operating activities:    
Depreciation and amortization 51 47
Restructuring expenses 6 4
Stock-based compensation expense 14 15
Other, net 0 6
Changes in assets and liabilities:    
Accounts receivable, net (42) (13)
Inventories, net (6) 17
Other current assets 6 9
Accounts payable (106) (101)
Accrued liabilities (114) (112)
Non-current obligations payable under the Indemnification Agreement 0 54
Other, net 8 3
Net cash used in operating activities (145) (65)
Cash Flows From Investing Activities:    
Capital expenditures (36) (31)
Net cash used in investing activities (36) (31)
Cash Flows From Financing Activities:    
Repayments of long-term debt (5) 0
Acquisition of treasury stock to cover stock award tax withholding (32) (15)
Preferred stock dividend payments (9) (9)
Other financing activities, net 4 2
Net cash used in financing activities (42) (22)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 1 3
Net decrease in cash, cash equivalents and restricted cash (222) (115)
Cash, cash equivalents and restricted cash at beginning of year 662 693
Cash, cash equivalents and restricted cash at end of year $ 440 $ 578