GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 27, 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, were as follows:

(In millions)	SAS		IMS		CS		AR		Total
Balance at December 29, 2023	$	6,110	$	6,564	$	4,940	$	2,365	$	19,979
Goodwill from AJRD acquisition (1)	—		—		—		537		537
Impairment of goodwill(2)	(14)		—		—		—		(14)
Goodwill decrease from divestitures(2)	(79)		—		—		—		(79)
Currency translation adjustments	14		(3)		(1)		—		10
Balance at September 27, 2024	$	6,031	$	6,561	$	4,939	$	2,902	$	20,433

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(1)Represents the effect of measurement period adjustments associated with the acquisition of Aerojet Rocketdyne Holdings, Inc. (“AJRD”) during the three quarters ended September 27, 2024. See Note O: Acquisitions and Divestitures in these Notes for further information.

(2)Goodwill allocation and impairment recognized in connection with the Antenna Disposal Group divestiture. See Note O: Acquisitions and Divestitures in these Notes and our Form 10-Q for the quarter ended June 28, 2024 for further information related to the Antenna Disposal Group divestiture and associated goodwill allocation and impairment testing, respectively.

Schedule of Indefinite-Lived Intangible Assets

Intangible assets, net are summarized below:

	September 27, 2024						December 29, 2023
(In millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relationships	$	8,852	$	(3,290)	$	5,562	$	8,892	$	(2,733)	$	6,159
Developed technologies	853		(469)		384		856		(413)		443
Trade names	185		(61)		124		185		(50)		135
Other, including contract backlog	3		(2)		1		4		(4)		—
Total finite-lived intangible assets	9,893		(3,822)		6,071		9,937		(3,200)		6,737
Trade name — indefinite-lived	1,803		—		1,803		1,803		—		1,803
Total intangible assets, net	$	11,696	$	(3,822)	$	7,874	$	11,740	$	(3,200)	$	8,540

Schedule of Finite-Lived Intangible Assets

Intangible assets, net are summarized below:

	September 27, 2024						December 29, 2023
(In millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relationships	$	8,852	$	(3,290)	$	5,562	$	8,892	$	(2,733)	$	6,159
Developed technologies	853		(469)		384		856		(413)		443
Trade names	185		(61)		124		185		(50)		135
Other, including contract backlog	3		(2)		1		4		(4)		—
Total finite-lived intangible assets	9,893		(3,822)		6,071		9,937		(3,200)		6,737
Trade name — indefinite-lived	1,803		—		1,803		1,803		—		1,803
Total intangible assets, net	$	11,696	$	(3,822)	$	7,874	$	11,740	$	(3,200)	$	8,540

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Future estimated amortization expense for intangible assets is as follows:

	(In millions)
Next 12 months	$	791
Months 13-24	718
Months 25-36	569
Months 37-48	518
Months 49-60	440
Thereafter	3,035
Total	$	6,071