Derivative Instruments (Tables)

9 Months Ended

Oct. 02, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair value of the Company's interest rate swaps

The fair value of the interest rate swaps and foreign currency forward contracts was as follows:

	Asset derivatives
	Balance sheet line item	October 2, 2020		January 3, 2020
		(in millions)
Fair value interest rate swaps	Other assets	$	—	$	2
	Liability derivatives
	Balance sheet line item	October 2, 2020		January 3, 2020
		(in millions)
Cash flow interest rate swaps	Other long-term liabilities	$	114	$	75
Foreign currency forward contracts	Accounts payable and accrued liabilities	1		—

Schedule of effect of the Company's cash flow hedges on other comprehensive income and earnings

The effect of the cash flow hedges on other comprehensive income (loss) and earnings for the periods presented was as follows:

	Three Months Ended				Nine Months Ended
	October 2, 2020		September 27, 2019		October 2, 2020		September 27, 2019
	(in millions)
Total interest expense, net presented in the condensed consolidated statements of income in which the effects of cash flow hedges are recorded	$	44	$	28	$	133	$	99
Amount recognized in other comprehensive income (loss)	$	—	$	(13)	$	(62)	$	(62)
Amount reclassified from accumulated other comprehensive loss to interest expense, net	5		(2)		9		(6)