Changes in Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 28, 2025

Equity [Abstract]

Changes in Accumulated Other Comprehensive Income (Loss)

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table presents changes in accumulated other comprehensive income (loss) by component for the periods presented:

	13 weeks ended				26 weeks ended
	June 28, 2025		June 29, 2024		June 28, 2025		June 29, 2024
Accumulated other comprehensive income (loss) components
Retirement benefit obligations:
Balance as of beginning of period (1)	$	42	$	(114)	$	42	$	(116)
Reclassification adjustments:
Amortization of net loss(2) (3)	—		1		—		3
Balance as of end of period(1)	$	42	$	(113)	$	42	$	(113)
Interest rate Caps:
Balance at beginning of period(1)	$	1	$	1	$	1	$	1
Change in fair value of interest rate caps	—		—		—		—
Balance at end of period(1)	$	1	$	1	$	1	$	1
Accumulated other comprehensive income (loss) at end of period(1)	$	43	$	(112)	$	43	$	(112)

(1)    Amounts are presented net of tax.

(2)    Included in the computation of net periodic benefit costs.

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

Included in the retirement benefit obligations balance for the 13 weeks and 26 weeks ended June 28, 2025 is $45 million of tax effects, $44 million of which represents tax effects on items within accumulated other comprehensive income (loss) related to the Tax Cuts and Jobs Act of 2017 and the presence of a valuation allowance in certain historical periods. The Company expects the tax effects to remain in accumulated other comprehensive income (loss) until the Retirement Plan ceases to exist.