v3.26.1
CONDENSED COMBINED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
 6 Months Ended
Jul. 04, 2026
Jun. 28, 2025
Cash Flows From Operating Activities:    
Net income (loss) $ 5 $ (298)
Adjustments to reconcile net income to net cash in operating activities:    
Depreciation and amortization 59 57
Restructuring expenses 7 5
Stock-based compensation expense 12 12
Operating lease right-of-use-asset amortization 20 17
Other, net 4 1
Changes in assets and liabilities:    
Accounts receivable, net (96) (95)
Inventories, net (24) 6
Other current assets (15) (10)
Accounts payable (18) 36
Accrued liabilities (8) (18)
Lease liabilities (17) (17)
Obligations payable under the Indemnification Agreement 0 337
Other, net (5) (1)
Net cash (used in) provided by operating activities (76) 32
Cash Flows From Investing Activities:    
Capital expenditures (26) (21)
Related party loan activity, net 13 (1)
Other investing activities, net 1 0
Net cash used in investing activities (12) (22)
Cash Flows From Financing Activities:    
Proceeds from issuance of long-term debt 400 0
Net transfers from (to) parent 147 (35)
Proceeds from loans due to related parties 17 0
Net (decrease) increase in due to related parties related to cash pooling arrangements (65) 5
Other financing activities, net (1) 0
Net cash provided by (used in) financing activities 498 (30)
Effect of exchange rate changes on cash and cash equivalents (3) 7
Net increase (decrease) in cash, cash equivalents and restricted cash 407 (13)
Cash, cash equivalents and restricted cash at beginning of period 124 137
Cash, cash equivalents and restricted cash at end of period $ 531 $ 124