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Pensions and Other Benefit Plans (Tables)
 12 Months Ended
Jan. 02, 2022
Retirement Benefits [Abstract]  
Components of Net Periodic Benefit Cost Net periodic benefit costs for the Company’s defined benefit retirement plans and other benefit plans for 2021, 2020 and 2019 include the following components:
 Retirement PlansOther Benefit Plans
(Dollars in Millions)202120202019202120202019
Service cost$1,421 1,380 1,163 309 287 274 
Interest cost770 955 1,096 81 133 185 
Expected return on plan assets(2,645)(2,461)(2,322)(7)(7)(6)
Amortization of prior service cost (181)2 4 (31)(31)(31)
Recognized actuarial losses (gains)1,257 891 579 151 142 129 
Curtailments and settlements1 23 73 — — — 
Net periodic benefit cost$623 790 593 503 524 551 
Rates Used to Develop Actuarial Present Value of Projected Benefit Obligation The following table represents the weighted-average actuarial assumptions:
 Retirement PlansOther Benefit Plans
Worldwide Benefit Plans202120202019202120202019
Net Periodic Benefit Cost
Service cost discount rate2.14 %2.82 3.63 2.09 3.04 4.45 
Interest cost discount rate2.34 %3.13 4.13 2.33 3.08 4.25 
Rate of increase in compensation levels4.01 %4.00 3.99 4.25 4.25 4.29 
Expected long-term rate of return on plan assets7.71 %8.12 8.31 
Benefit Obligation
Discount rate2.49 %2.14 2.91 2.68 2.23 3.39 
Rate of increase in compensation levels4.01 %4.00 4.01 4.21 4.27 4.29 
Assumed Health Care Cost Trend Rates The following table displays the assumed healthcare cost trend rates, for all individuals:
Healthcare Plans20212020
Healthcare cost trend rate assumed for next year5.33 %5.68 %
Rate to which the cost trend rate is assumed to decline (ultimate trend)3.73 %4.49 %
Year the rate reaches the ultimate trend rate2046 2040 
Schedule of Net Funded Status The following table sets forth information related to the benefit obligation and the fair value of plan assets at fiscal year-end 2021 and 2020 for the Company’s defined benefit retirement plans and other post-retirement plans:
 Retirement PlansOther Benefit Plans
(Dollars in Millions)2021202020212020
Change in Benefit Obligation
Projected benefit obligation — beginning of year$43,300 37,188 5,028 5,076 
Service cost1,421 1,380 309 287 
Interest cost770 955 81 133 
Plan participant contributions67 61 — — 
Amendments(1)
5 (1,780)— — 
Actuarial (gains) losses(2)
(2,132)5,716 (188)(75)
Divestitures & acquisitions(2)(88)— — 
Curtailments, settlements & restructuring(7)(24)— — 
Benefits paid from plan(1,157)(1,111)(348)(396)
Effect of exchange rates(683)1,003 (4)3 
Projected benefit obligation — end of year$41,582 43,300 4,878 5,028 
Change in Plan Assets
Plan assets at fair value — beginning of year$38,195 32,201 90 115 
Actual return on plan assets4,439 5,524 17 14 
Company contributions969 870 343 357 
Plan participant contributions67 61 — — 
Settlements(7)(13)— — 
Divestitures & acquisitions(2)(84)— — 
Benefits paid from plan assets(1,157)(1,111)(348)(396)
Effect of exchange rates(574)747 — — 
Plan assets at fair value — end of year$41,930 38,195 102 90 
Funded status — end of year$348 (5,105)(4,776)(4,938)
Amounts Recognized in the Company’s Balance Sheet consist of the following:
Non-current assets$4,436 656 — — 
Current liabilities(115)(125)(438)(418)
Non-current liabilities(3,973)(5,636)(4,338)(4,520)
Total recognized in the consolidated balance sheet — end of year$348 (5,105)(4,776)(4,938)
Amounts Recognized in Accumulated Other Comprehensive Income consist of the following:
Net actuarial loss$5,539 10,860 1,113 1,463 
Prior service cost (credit)(1)
(1,610)(1,797)(13)(44)
Unrecognized net transition obligation— — — — 
Total before tax effects$3,929 9,063 1,100 1,419 
Accumulated Benefit Obligations — end of year$39,049 40,356 
(1)In January 2021, the Company announced that, effective on January 1, 2026, all eligible U.S. non-union employees, regardless of hire date, will earn benefits under the Retirement Value formula. This amendment does not affect the benefits accrued under the Final Average Pay formula for service before January 1, 2026.
(2)The actuarial gain for retirement plans in 2021 was primarily related to increases in discount rates; the actuarial losses for retirement plans in 2020 were primarily related to decreases in discount rates.
 Retirement PlansOther Benefit Plans
(Dollars in Millions)2021202020212020
Amounts Recognized in Net Periodic Benefit Cost and Other Comprehensive Income
Net periodic benefit cost$623 790 503 524 
Net actuarial (gain) loss(3,927)2,616 (199)(81)
Amortization of net actuarial loss(1,257)(891)(151)(142)
Prior service cost (credit)5 (1,780)— — 
Amortization of prior service (cost) credit181 (2)31 31 
Effect of exchange rates(136)293 — 1 
Total loss/(income) recognized in other comprehensive income, before tax$(5,134)236 (319)(191)
Total recognized in net periodic benefit cost and other comprehensive income$(4,511)1,026 184 333 
Information Related to the Benefit Obligation and the Fair Value of Plan Assets
The following table displays the funded status of the Company's U.S. Qualified & Non-Qualified pension plans and international funded and unfunded pension plans at December 31, 2021 and December 31, 2020, respectively:
U.S. PlansInternational Plans
Qualified PlansNon-Qualified PlansFunded PlansUnfunded Plans
(Dollars in Millions)20212020202120202021202020212020
Plan Assets$27,944 25,554 — — 13,986 12,641 — — 
Projected Benefit Obligation25,041 25,466 2,703 2,748 13,428 14,541 410 545 
Accumulated Benefit Obligation23,985 24,158 2,479 2,495 12,212 13,210 373 493 
Over (Under) Funded Status
Projected Benefit Obligation$2,903 88 (2,703)(2,748)558 (1,900)(410)(545)
Accumulated Benefit Obligation3,959 1,396 (2,479)(2,495)1,774 (569)(373)(493)
Projected Future Benefit Payments from Company's Retirement and Other Benefit Plans The following table displays the projected future benefit payments from the Company’s retirement and other benefit plans:
(Dollars in Millions)202220232024202520262027-2031
Projected future benefit payments
Retirement plans$1,317 1,386 1,421 1,496 1,572 9,279 
Other benefit plans $447 459 472 485 434 2,379 
Projected Future Minimum Contributions to the Company's U.S. and International Unfunded Retirement Plans The following table displays the projected future minimum contributions to the unfunded retirement plans. These amounts do not include any discretionary contributions that the Company may elect to make in the future.
(Dollars in Millions)202220232024202520262027-2031
Projected future contributions$114 119 126 133 139 794 
Company' Retirement Plan Asset Allocation and Target Allocations The Company’s retirement plan asset allocation at the end of 2021 and 2020 and target allocations for 2022 are as follows:
Percent of
Plan Assets		Target
Allocation
 202120202022
Worldwide Retirement Plans
Equity securities65 %66 %61 %
Debt securities35 34 39 
Total plan assets100 %100 %100 %
Schedule of Defined Benefit Plans Disclosures
The following table sets forth the Retirement Plans' investments measured at fair value as of December 31, 2021 and December 31, 2020:
Quoted Prices
in Active
Markets for
Identical Assets		Significant
Other
Observable
Inputs
Significant
Unobservable
Inputs(1)
Investments Measured at Net Asset Value
 (Level 1)(Level 2)(Level 3)Total Assets
(Dollars in Millions)2021202020212020202120202021202020212020
Short-term investment funds$102 127 1,033 763 — — — — 1,135 890 
Government and agency securities— — 7,016 5,023 — — — — 7,016 5,023 
Debt instruments— — 3,505 3,931 — — — — 3,505 3,931 
Equity securities14,107 14,375 2 2 — — — — 14,109 14,377 
Commingled funds— — 5,496 4,690 105 160 8,708 8,236 14,309 13,086 
Other assets— — 34 11 15 21 1,807 856 1,856 888 
Investments at fair value$14,209 14,502 17,086 14,420 120 181 10,515 9,092 41,930 38,195 

(1) The activity for the Level 3 assets is not significant for all years presented.