GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

3 Months Ended

Mar. 29, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Carrying Amounts of Goodwill

The assignment of goodwill and changes in the carrying amount of goodwill, by business segment, are as follows:

(In millions)	SAS		IMS		CS		AR		Total
Balance at December 29, 2023(1)	$	6,110	$	6,564	$	4,940	$	2,365	$	19,979
Goodwill from AJRD acquisition(2)	—		—		—		108		108
Currency translation adjustments	(8)		(8)		(1)		—		(17)
Balance at March 29, 2024	$	6,102	$	6,556	$	4,939	$	2,473	$	20,070

_______________

(1)During fiscal 2023, we assigned $534 million of goodwill associated with the pending divestiture of Commercial Aviation Solutions (“CAS Disposal Group”) to “Assets of business held for sale” in our Condensed Consolidated Balance Sheet. See Note 13: Acquisitions, Divestitures and Asset Sales in our Fiscal 2023 Form 10-K for additional information regarding divestitures and businesses held for sale.

(2)Represents a measurement period adjustment associated with the acquisition of Aerojet Rocketdyne Holdings, Inc. (“AJRD”) in the quarter ended March 29, 2024. See Note O: Acquisitions and Divestitures in these Notes for further information.

Schedule of Indefinite-Lived Intangible Assets

Other identifiable intangible assets, net are summarized below:

	March 29, 2024						December 29, 2023
(In millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount(1)
Customer relationships	$	8,907	$	2,923	$	5,984	$	8,892	$	2,733	$	6,159
Developed technologies	854		432		422		856		413		443
Trade names — divisions	185		54		131		185		50		135
Other, including contract backlog	4		4		—		4		4		—
Total finite-lived identifiable intangible assets	9,950		3,413		6,537		9,937		3,200		6,737
Trade names — corporate	1,803		—		1,803		1,803		—		1,803
Total identifiable intangible assets, net	$	11,753	$	3,413	$	8,340	$	11,740	$	3,200	$	8,540

_______________

(1)During fiscal 2023, we assigned $263 million of intangible assets associated with the pending divestiture of the CAS Disposal Group to "Assets of business held for sale" in our Condensed Consolidated Balance Sheet. See Note 13: Acquisitions, Divestitures and Asset Sales in our Fiscal 2023 Form 10-K for additional information regarding divestitures and businesses held for sale.

Schedule of Finite-Lived Intangible Assets

Other identifiable intangible assets, net are summarized below:

	March 29, 2024						December 29, 2023
(In millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount(1)
Customer relationships	$	8,907	$	2,923	$	5,984	$	8,892	$	2,733	$	6,159
Developed technologies	854		432		422		856		413		443
Trade names — divisions	185		54		131		185		50		135
Other, including contract backlog	4		4		—		4		4		—
Total finite-lived identifiable intangible assets	9,950		3,413		6,537		9,937		3,200		6,737
Trade names — corporate	1,803		—		1,803		1,803		—		1,803
Total identifiable intangible assets, net	$	11,753	$	3,413	$	8,340	$	11,740	$	3,200	$	8,540

_______________

(1)During fiscal 2023, we assigned $263 million of intangible assets associated with the pending divestiture of the CAS Disposal Group to "Assets of business held for sale" in our Condensed Consolidated Balance Sheet. See Note 13: Acquisitions, Divestitures and Asset Sales in our Fiscal 2023 Form 10-K for additional information regarding divestitures and businesses held for sale.

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Future estimated amortization expense for identifiable intangible assets is as follows:

	(In millions)
Next 12 months	$	835
Months 13-24	766
Months 25-36	632
Months 37-48	562
Months 49-60	468
Thereafter	3,274
Total	$	6,537