Derivative Financial Instruments (Tables)

6 Months Ended

Jul. 01, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Consolidated Balance Sheets and Pre-Tax Gain (Loss) in Accumulated Other Comprehensive Loss

The following table summarizes the fair value and presentation of derivative instruments in the Unaudited Consolidated Balance Sheets as well as the changes in fair value recorded in accumulated other comprehensive loss:

	Fair Value of Derivative Assets
(in millions)	Financial Statement Line Item	July 1, 2023		December 31, 2022
Derivatives designated as hedging instruments:
Interest rate swaps	Other current assets	$	23	$	23
Interest rate swaps	Other assets	20		22
Total derivative assets designated as hedging instruments		$	43	$	45
Unrealized gain	Accumulated other comprehensive loss	$	40	$	42

Effect of Derivative Instruments Designated as Cash Flow Hedges

The following table summarizes the effect of derivative instruments designated as cash flow hedges in other comprehensive income and the Unaudited Consolidated Statements of Operations:

	Three Months Ended				Six Months Ended
(in millions)	July 1, 2023		July 2, 2022		July 1, 2023		July 2, 2022
Gains recorded in accumulated other comprehensive loss, beginning of period:	$	35	$	29	$	42	$	6
Current period (loss) gain recognized in/reclassified from other comprehensive income	5		1		(2)		24
Gains recorded in accumulated other comprehensive loss, end of period	$	40	$	30	$	40	$	30