Accrued and Other Liabilities (Tables)

6 Months Ended

Jul. 02, 2023

Other Liabilities Disclosure [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities consisted of:

(Dollars in Millions)	2022		2021
Accrued expenses	$	447	$	535
Accrued compensation and benefits	272		266
Lease liability	35		47
Other accrued liabilities	152		176
Accrued liabilities	$	906	$	1,024

Accrued liabilities consisted of:

(Dollars in Millions)	July 2, 2023		January 1, 2023
Accrued expenses	$	470	$	447
Accrued compensation and benefits	275		272
Lease liability	47		35
Other accrued liabilities (1)	409		152
Accrued liabilities	$	1,201	$	906

Schedule of Other Liabilities

Other liabilities consisted of:

(Dollars in Millions)	2022		2021
Accrued income taxes - noncurrent (Note 11)	$	584	$	603
Noncurrent lease liability	81		82
Other noncurrent accrued liabilities	62		71
Other liabilities	$	727	$	756

Other liabilities consisted of:

(Dollars in Millions)	July 2, 2023		January 1, 2023
Accrued income taxes - noncurrent	$	234	$	584
Noncurrent lease liability	120		81
Other noncurrent accrued liabilities (1)	239		62
Other liabilities	$	593	$	727

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(1) The increase in Other current and noncurrent accrued liabilities relates primarily to the agreements entered into with the Parent in connection with the Separation Agreement, which went into effect in the second quarter of 2023. See Note 8, “Related Parties” for more information.