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PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)
 12 Months Ended
Jan. 01, 2021
Retirement Benefits [Abstract]  
Schedule of Fair Value of Deferred Compensation Plan Investments and Liabilities by Category and Fair Value Hierarchy Level
The following table provides the fair value of our deferred compensation plan investments and liabilities by category and by fair value hierarchy level:
January 1, 2021January 3, 2020
(In millions)TotalLevel 1TotalLevel 1
Assets
Deferred compensation plan assets:(1)
Equity and fixed income securities$67 $67 $58 $58 
Investments measured at NAV:
Corporate-owned life insurance31 29 
Total fair value of deferred compensation plan assets$98 $87 
Liabilities
Deferred compensation plan liabilities:(2)
Equity securities and mutual funds$4 $4 $2 $2 
Investments measured at NAV:
Common/collective trusts and guaranteed investment contracts116 69 
Total fair value of deferred compensation plan liabilities$120 $71 
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(1)Represents diversified assets held in a “rabbi trust” associated with our non-qualified deferred compensation plans, which we include in the “Other current
assets” and “Other non-current assets” line items in our Consolidated Balance Sheet, and which are measured at fair value.
(2)Primarily represents obligations to pay benefits under certain non-qualified deferred compensation plans, which we include in the “Compensation and
benefits” and “Other long-term liabilities” line items in our Consolidated Balance Sheet. Under these plans, participants designate
investment options (including stock and fixed-income funds), which serve as the basis for measurement of the notional value of their accounts.
Schedule of Funded Status of Defined Benefit Plans and Balance Sheet Information The following table provides a summary of the funded status of our defined benefit plans and the presentation of such balances within our Consolidated Balance Sheet:
 January 1, 2021January 3, 2020
(In millions)PensionOther
Benefits		TotalPensionOther
Benefits		Total
Fair value of plan assets$9,301 $299 $9,600 $8,618 $274 $8,892 
Projected benefit obligation(11,045)(387)(11,432)(10,268)(369)(10,637)
Funded status$(1,744)$(88)$(1,832)$(1,650)$(95)$(1,745)
Consolidated Balance Sheet line item amounts:
Other non-current assets$88 $8 $96 $91 $1 $92 
Compensation and benefits(10)(8)(18)(10)(8)(18)
Liabilities of disposal group held for sale(4)— (4)— — — 
Defined benefit plans(1,818)(88)(1,906)(1,731)(88)(1,819)
Schedule of Pre-tax Amounts Recorded in Accumulated Other Comprehensive Loss The following table provides a summary of pre-tax amounts recorded within accumulated other comprehensive loss:
 January 1, 2021January 3, 2020
(In millions)PensionOther
Benefits		TotalPensionOther
Benefits		Total
Net actuarial loss (gain)$1,215 $(28)$1,187 $819 $(34)$785 
Net prior service (credit) cost(253)7 (246)(282)(1)(283)
$962 $(21)$941 $537 $(35)$502 
Schedule of Roll-forward of Projected Benefit Obligation
The following table provides a roll-forward of the projected benefit obligations for our defined benefit plans:
 January 1, 2021January 3, 2020
(In millions)PensionOther
Benefits		TotalPensionOther
Benefits		Total
Change in benefit obligation
Benefit obligation at beginning of fiscal year$10,268 $369 $10,637 $6,123 $221 $6,344 
Benefit obligation assumed in L3Harris Merger— — — 4,474 156 4,630 
Service cost65 2 67 42 1 43 
Interest cost273 10 283 149 5 154 
Actuarial loss1,035 24 1,059 301 7 308 
Amendments1 8 9 (292)— (292)
Benefits paid(569)(26)(595)(342)(21)(363)
Settlements — — — (5)— (5)
Special termination benefits1 — 1 — — — 
Expenses paid(42)— (42)(43)— (43)
Curtailments— — — (35)— (35)
Foreign currency exchange rate changes11 — 11 3 — 3 
Plan participants’ contributions2 — 2 1 — 1 
Divestiture— — — (108)— (108)
Benefit obligation at end of fiscal year$11,045 $387 $11,432 $10,268 $369 $10,637 
Schedule of Roll-forward of Plan Assets
The following table provides a roll-forward of the assets and the ending funded status of our defined benefit plans:
 January 1, 2021January 3, 2020
(In millions)PensionOther
Benefits		TotalPensionOther
Benefits		Total
Change in plan assets
Plan assets at beginning of fiscal year$8,618 $274 $8,892 $4,958 $201 $5,159 
Plan assets acquired in L3Harris Merger— — — 3,183 68 3,251 
Actual return on plan assets1,263 40 1,303 548 18 566 
Employer contributions20 11 31 406 8 414 
Benefits paid(569)(26)(595)(342)(21)(363)
Settlements— — — (5)— (5)
Expenses paid(42)— (42)(43)— (43)
Foreign currency exchange rate changes9 — 9 4 — 4 
Plan participants' contributions2 — 2 1 — 1 
Divestiture— — — (92)— (92)
Plan assets at end of fiscal year$9,301 $299 $9,600 $8,618 $274 $8,892 
Funded status at end of fiscal year$(1,744)$(88)$(1,832)$(1,650)$(95)$(1,745)
Schedule of Accumulated Benefit Obligations The following tables provide information for benefit plans with accumulated benefit obligations in excess of plan assets and benefit plans with projected benefit obligations in excess of plan assets:
January 1, 2021January 3, 2020
(In millions)PensionOther
Benefits		PensionOther
Benefits
Accumulated benefit obligation$10,469 N/A$9,656 N/A
Fair value of plan assets8,658 N/A7,931 N/A
January 1, 2021January 3, 2020
(In millions)PensionOther
Benefits		PensionOther
Benefits
Projected benefit obligation$10,522 $181 $9,700 $322 
Fair value of plan assets8,689 $85 7,959 224 
Schedule of Net Benefit Costs
The following table provides the components of net periodic benefit income and other amounts recognized in other comprehensive income in fiscal 2020, the two quarters ended January 3, 2020, and in fiscal 2019 and 2018 as they pertain to our defined benefit plans:
Pension
Fiscal Year EndedTwo Quarters EndedFiscal Years Ended
(In millions)January 1, 2021January 3, 2020June 28, 2019June 29, 2018
Net periodic benefit income
Service cost$65 $42 $36 $39 
Interest cost273 149 209 195 
Expected return on plan assets(630)(314)(382)(369)
Amortization of net actuarial loss10 1 — — 
Amortization of prior service credit(28)(5)— — 
Cost for special termination benefits1 — — — 
Effect of curtailments or settlements(1)
— (18)1 — 
Net periodic benefit income$(309)$(145)$(136)$(135)
Other changes in plan assets and benefit obligations recognized in other comprehensive loss
Net actuarial loss (gain)$403 $55 $625 $(106)
Prior service cost (credit)1 (292)3 2 
Amortization of net actuarial loss(10)(5)— — 
Amortization of prior service credit (cost)28 5 (1)— 
Currency translation adjustment2 — — — 
Recognized net loss due to divestiture— (13)— — 
Total change recognized in other comprehensive loss424 (250)627 (104)
Total impact from net periodic benefit cost and changes in other comprehensive loss$115 $(395)$491 $(239)
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(1)Effective January 1, 2020, for certain acquired L3 U.S. defined benefit pension plans, benefit accruals were frozen and replaced with a 1% cash balance benefit formula for certain employees who were not considered highly compensated on December 31, 2018. During the two quarters ended January 3, 2020, we recognized a $23 million curtailment gain as a result of this change, and a $5 million settlement loss resulting from the payout of the liabilities of a non-qualified benefit plan due to the change in control provisions.
Other Benefits
Fiscal Year EndedTwo Quarters EndedFiscal Years Ended
(In millions)January 1, 2021January 3, 2020June 28, 2019June 29, 2018
Net periodic benefit income
Service cost$2 $1 $— $1 
Interest cost10 5 8 7 
Expected return on plan assets(21)(10)(16)(16)
Amortization of net actuarial gain(3)(3)(6)(1)
Net periodic benefit income$(12)$(7)$(14)$(9)
Other changes in plan assets and benefit obligations recognized in other comprehensive loss
Net actuarial loss (gain)$4 $(1)$4 $(20)
Prior service cost 8 — — — 
Amortization of net actuarial gain3 3 6 1 
Total change recognized in other comprehensive loss
15 2 10 (19)
Total impact from net periodic benefit cost and changes in other comprehensive loss
$3 $(5)$(4)$(28)
Schedule of Weighted-average Assumptions Used
The following tables provide the weighted-average assumptions used to determine projected benefit obligations and net periodic benefit cost, as they pertain to our defined benefit pension plans:
Obligation assumptions as of:January 1, 2021January 3, 2020
Discount rate2.31 %3.14 %
Rate of future compensation increase3.01 %2.80 %
Cash balance interest crediting rate3.50 %3.50 %
Cost assumptions for fiscal periods ended:January 1, 2021January 3, 2020June 28, 2019June 29, 2018
Discount rate to determine service cost 2.87 %3.11 %3.89 %3.48 %
Discount rate to determine interest cost2.74 %2.94 %3.75 %3.28 %
Expected return on plan assets7.68 %7.68 %7.66 %7.66 %
Rate of future compensation increase2.80 %2.97 %2.76 %2.76 %
Cash balance interest crediting rate3.50 %3.50 %3.50 %3.50 %
The following table provides the weighted-average assumptions used to determine projected benefit obligations and net periodic benefit cost, as they pertain to our other postretirement defined benefit plans:
Obligation assumptions as of:January 1, 2021January 3, 2020
Discount rate2.10 %2.97 %
Rate of future compensation increaseN/AN/A
Cost assumptions for fiscal periods ended:January 1, 2021January 3, 2020June 28, 2019June 29, 2018
Discount rate to determine service cost 3.25 %3.47 %4.14 %3.62 %
Discount rate to determine interest cost2.55 %2.74 %3.62 %3.04 %
Rate of future compensation increaseN/AN/AN/AN/A
Schedule of Strategic Target Assets Allocation and Fair Value of Plan Assets
The following table provides the current strategic target asset allocation ranges by asset category:
 Target Asset
Allocation
Equity investments40 %—60%
Fixed income investments25 %—35%
Alternative investments10 %—25%
Cash and cash equivalents0 %—10%
The following tables provide the fair value of plan assets held by our defined benefit plans by asset category and by fair value hierarchy level:
 January 1, 2021
(In millions)TotalLevel 1Level 2Level 3
Asset Category
Equities:
Domestic equities$1,513 $1,513 $— $— 
International equities1,280 1,280 — — 
Real Estate Investment Trusts197 197 — — 
Fixed income:
Corporate bonds1,447 — 1,422 25 
Government securities485 — 485 — 
Securitized assets150 — 150 — 
Fixed income funds119 119 — — 
Other2 — — 2 
Cash and cash equivalents202 20 182 — 
Total5,395 $3,129 $2,239 $27 
Investments Measured at NAV
Equity funds3,088 
Fixed income funds532 
Hedge funds 321 
Private equity funds312 
Other1 
Total Investments Measured at NAV4,254 
Payables, net(49)
Total fair value of plan assets$9,600 
January 3, 2020
(In millions)TotalLevel 1Level 2Level 3
Asset Category
Equities:
Domestic equities$2,968 $2,968 $— $— 
International equities1,217 1,217 — — 
Real Estate Investment Trusts211 211 — — 
Fixed income:
Corporate bonds1,176 — 1,159 17 
Government securities489 — 489 — 
Securitized assets131 — 131 — 
Fixed income funds101 101 — — 
Other2 — — 2 
Cash and cash equivalents691 17 674 — 
Total6,986 $4,514 $2,453 $19 
Investments Measured at NAV
Equity funds933 
Fixed income funds323 
Hedge funds 342 
Private equity funds302 
Other1 
Total Investments Measured at NAV1,901 
Receivables, net5 
Total fair value of plan assets$8,892 
Schedule of Expected Benefit Payments
The following table provides the projected timing of payments for benefits earned to date and benefits expected to be earned for future service by current active employees under our defined benefit plans.
(In millions)Pension
Other
    Benefits(1)
Total
Fiscal Years:
2021$581 $31 $612 
2022584 30 614 
2023585 29 614 
2024585 28 613 
2025583 26 609 
2026 — 20302,872 111 2,983 
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(1)Projected payments for Other Benefits reflect net payments from the Company, which include subsidies that reduce the gross payments by less than 10 percent.