ACCUMULATED OTHER COMPREHENSIVE LOSS ("AOCI")

12 Months Ended

Jan. 01, 2021

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS ("AOCI")

NOTE 22: ACCUMULATED OTHER COMPREHENSIVE LOSS (“AOCI”)

The components of AOCI are summarized below:

(In millions)	Foreign currency translation		Net unrealized losses on hedging derivatives		Unrecognized postretirement obligations		Total AOCI
Balance at June 28, 2019	$	(106)	$	(38)	$	(563)	$	(707)
Other comprehensive income (loss), before income taxes	25		(23)		231		233
Income taxes	—		6		(53)		(47)
Other comprehensive income (loss) before reclassifications to earnings, net of income taxes	25		(17)		178		186
Losses reclassified to earnings(1)	—		—		18		18
Income taxes	—		—		(5)		(5)
Losses reclassified to earnings, net of income taxes	—		—		13		13
Other comprehensive income (loss), net of income taxes	25		(17)		191		199
Balance at January 3, 2020	(81)		(55)		(372)		(508)
Other comprehensive income (loss), before income taxes	16		(41)		(418)		(443)
Income taxes	—		10		105		115
Other comprehensive income (loss) before reclassifications to earnings, net of income taxes	16		(31)		(313)		(328)
Losses (gains) reclassified to earnings(1)	7		8		(21)		(6)
Income taxes	—		(2)		5		3
Losses (gains) reclassified to earnings, net of income taxes	7		6		(16)		(3)
Other comprehensive income (loss), net of income taxes	23		(25)		(329)		(331)
Balance at January 1, 2021	$	(58)	$	(80)	$	(701)	$	(839)

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(1)Losses (gains) reclassified to earnings are included in the “Revenue from product sales and services,” “Business divestiture-related (losses) gains,” “Interest expense” and “Non-operating income” line items in our Consolidated Statement of Income.