Changes in Accumulated Other Comprehensive Loss

12 Months Ended

Jan. 02, 2021

The following table presents changes in accumulated other comprehensive loss, by component, for the last three fiscal years:


	2020		2019		2018
Accumulated other comprehensive loss components
Retirement benefit obligations:
Balance as of beginning of year (1)	$	(52)	$	(97)	$	(103)
Other comprehensive income before reclassifications	29		44		6
Reclassification adjustments:
Amortization of net loss (2) (3)	1		4		3
Settlements (2) (3)	—		12		—
Total before income tax	30		60		9
Income tax provision	7		15		3
Current year comprehensive income, net of tax	23		45		6
Balance as of end of year (1)	$	(29)	$	(52)	$	(97)

Interest rate swaps:
Balance as of beginning of year (1)	$	(2)	$	13	$	8
Change in fair value of interest rate swaps	(11)		(14)		10
Amounts reclassified to interest expense	6		(6)		(3)
Total before income tax	(5)		(20)		7
Income tax (benefit) provision	(2)		(5)		2
Current year comprehensive (loss) income, net of tax	(3)		(15)		5
Balance as of end of year (1)	$	(5)	$	(2)	$	13
Accumulated other comprehensive loss as of end of year(1)	$	(34)	$	(54)	$	(84)

(1) Amounts are presented net of tax.

(2) Included in the computation of net periodic benefit costs. See Note 20, Retirement Plans, for additional information.

(3) Included in other (income) expense—net in the Company's Consolidated Statements of Comprehensive Income.