ACCUMULATED OTHER COMPREHENSIVE LOSS ("AOCL")

9 Months Ended

Sep. 27, 2024

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS ("AOCL")

NOTE J: ACCUMULATED OTHER COMPREHENSIVE LOSS (“AOCL”)

At September 27, 2024 and December 29, 2023, AOCL was $194 million and $198 million, respectively. Changes in AOCL, net of tax, consisted of $27 million of other comprehensive income before reclassifications, primarily from currency translation gains, and $23 million of net gains reclassified to earnings, primarily associated with amortization of unrecognized postretirement benefit plan obligations.

At September 29, 2023 and December 30, 2022, AOCL was $321 million and $288 million, respectively. Changes in AOCL, net of tax, consisted of $4 million of other comprehensive loss before reclassifications, primarily from currency translation losses, partially offset by net unrealized gains on hedging derivatives, and $29 million of net gains reclassified to earnings, primarily associated with amortization of unrecognized postretirement benefit plan obligations.

See Note H: Retirement Benefits in these Notes and Note 9: Retirement Benefits in our Fiscal 2023 Form 10-K for additional information regarding our postretirement benefit plans.