Investments and Fair Value Measurements (Tables)

9 Months Ended

Oct. 02, 2022

Fair Value Disclosures [Abstract]

Schedule of Marketable Securities

Net gains (losses) recognized in other (expense) income, net on our marketable equity securities were as follows:

In millions	Q3 2022		Q3 2021		YTD 2022		YTD 2021
Net gains (losses) recognized during the period on marketable equity securities	$	3	$	45	$	(66)	$	(23)
Less: Net losses recognized during the period on marketable equity securities sold during the period	—		—		—		(7)
Net unrealized gains (losses) recognized during the period on marketable equity securities still held at the reporting date	$	3	$	45	$	(66)	$	(16)

Schedule of Hierarchy for Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents the hierarchy for assets and liabilities measured at fair value on a recurring basis:

	October 2, 2022								January 2, 2022
In millions	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Money market funds (cash equivalents)	$	551	$	—	$	—	$	551	$	688	$	—	$	—	$	688
Marketable equity securities	41		—		—		41		107		—		—		107
Helix contingent value right	—		—		57		57		—		—		65		65
Deferred compensation plan assets	—		49		—		49		—		60		—		60
Total assets measured at fair value	$	592	$	49	$	57	$	698	$	795	$	60	$	65	$	920
Liabilities:
Contingent consideration liabilities	$	—	$	—	$	387	$	387	$	—	$	—	$	615	$	615
Deferred compensation plan liability	—		46		—		46		—		56		—		56
Total liabilities measured at fair value	$	—	$	46	$	387	$	433	$	—	$	56	$	615	$	671

Schedule of Changes in Estimated Fair Value of Acquisition Related Contingent Consideration Liabilities

Changes in the estimated fair value of our contingent consideration liabilities during YTD 2022 were as follows:

In millions
Balance as of January 2, 2022	$	615
Acquisition	2
Change in estimated fair value	(230)
Balance as of October 2, 2022	$	387