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Retirement Plans (Tables)
 12 Months Ended
Dec. 28, 2024
Retirement Benefits [Abstract]  
Components of Net Periodic Benefit Cost (Income)
The components of net periodic benefit cost (income) and other amounts recognized in other comprehensive income (loss) (OCI) are as follows:
Pension BenefitsPostretirement Benefits
Other than Pensions
(In millions)202420232022202420232022
Net periodic benefit cost (income)
Service cost$69 $67 $108 $1 $2 $2 
Interest cost362 364 272 7 8 6 
Expected return on plan assets(635)(610)(609)— — — 
Amortization of prior service cost (credit)9 11 13 (1)(3)(5)
Amortization of net actuarial loss (gain)3 1 87 (8)(8)(4)
Net periodic benefit cost (income)*$(192)$(167)$(129)$(1)$(1)$(1)
Other changes in plan assets and benefit obligations recognized in OCI
Current year actuarial loss (gain)$(561)$109 $(246)$(7)$(7)$(39)
Current year prior service cost19 7 4 — — — 
Amortization of net actuarial gain (loss)(3)(1)(87)8 8 4 
Amortization of prior service credit (cost)(9)(11)(13)1 3 5 
Total recognized in OCI, before taxes$(554)$104 $(342)$2 $4 $(30)
Total recognized in net periodic benefit cost (income) and OCI$(746)$(63)$(471)$1 $3 $(31)
* Excludes the cost associated with the defined contribution component that is included in certain of our U.S.-based defined benefit pension plans, of $10 million in 2024, and $11 million for both 2023 and 2022.
Changes In The Projected Benefit Obligation And In The Fair Value of Plan Assets The changes in the projected benefit obligation and in the fair value of plan assets, along with our funded status, are as follows:
Pension BenefitsPostretirement Benefits
Other than Pensions
(In millions)December 28, 2024December 30, 2023December 28, 2024December 30, 2023
Change in projected benefit obligation
Projected benefit obligation at beginning of year$7,205 $6,848 $136 $150 
Service cost69 67 1 2 
Interest cost362 364 7 8 
Plan participants’ contributions— — 3 3 
Actuarial losses (gains)(392)330 (7)(7)
Benefits paid(454)(444)(19)(20)
Plan amendment19 7 — — 
Foreign exchange rate changes and other(21)33 — — 
Projected benefit obligation at end of year$6,788 $7,205 $121 $136 
Change in fair value of plan assets
Fair value of plan assets at beginning of year$8,413 $7,943 
Actual return on plan assets806 832 
Employer contributions34 36 
Benefits paid(454)(444)
Foreign exchange rate changes and other(27)46 
Fair value of plan assets at end of year$8,772 $8,413 
Funded status at end of year$1,984 $1,208 $(121)$(136)
Amounts Recognized In Our Balance Sheets
Amounts recognized in our balance sheets are as follows:
Pension BenefitsPostretirement Benefits
Other than Pensions
(In millions)December 28, 2024December 30, 2023December 28, 2024December 30, 2023
Non-current assets$2,311 $1,569 $— $— 
Current liabilities(29)(28)(15)(17)
Non-current liabilities(298)(333)(106)(119)
Recognized in Accumulated other comprehensive loss, pre-tax:
Net loss (gain)167 730 (69)(69)
Prior service cost (credit)52 42 (1)(3)
Pension Plans With Accumulated Benefit Obligations Exceeding The Fair Value Of Plan Assets
Pension plans with accumulated benefit obligation exceeding the fair value of plan assets are as follows:
(In millions)December 28, 2024December 30, 2023
Accumulated benefit obligation$316 $336 
Fair value of plan assets— — 
Pension Plans With Projected Benefit Obligations Exceeding The Fair Value of Plan Assets
Pension plans with projected benefit obligation exceeding the fair value of plan assets are as follows:
(In millions)December 28, 2024December 30, 2023
Projected benefit obligation$327 $652 
Fair value of plan assets— 292 
Weighted-average Assumptions Used For Pension and Postretirement Plans
The weighted-average assumptions we use for our pension and postretirement plans are as follows:
Pension BenefitsPostretirement Benefits
Other than Pensions
202420232022202420232022
Net periodic benefit cost
Discount rate5.19%5.51%2.99%5.40%5.70%2.80%
Expected long-term rate of return on assets7.16%7.14%7.10%
Rate of compensation increase3.97%3.97%3.95%
Benefit obligations at year-end
Discount rate5.73%5.19%5.51%5.75%5.40%5.70%
Rate of compensation increase3.97%3.97%3.97%
Interest crediting rate for cash balance plans5.25%5.25%5.25%
Target Allocation Ranges Our target allocation ranges are as follows:
U.S. Plan Assets
Domestic equity securities17 %to33%
International equity securities6 %to17%
Global equities5 %to17%
Debt securities27 %to38%
Real estate7 %to13%
Private investment partnerships7 %to13%
Non-U.S. Plan Assets
Equity securities55 %to75%
Debt securities25 %to45%
Real estate— %to13%
Fair Value of Total Pension Plan Assets
The fair value of our pension plan assets by major category and valuation method is as follows:
December 28, 2024December 30, 2023
(In millions)Level 1Level 2Level 3Not
Subject to
Leveling		Level 1Level 2Level 3Not
Subject to
Leveling
Cash and equivalents$159 $1 $— $— $231 $1 $— $— 
Equity securities:
Domestic3,151 — — 307 2,754 — — 299 
International1,028 — — 290 1,061 — — 281 
Mutual funds194 — — — 117 — — — 
Debt securities:
National, state and local governments899 60 — 13 679 142 — 88 
Corporate debt46 618 — 148 164 610 — 90 
Private investment partnerships— — — 974 — — — 1,000 
Real estate— — 479 405 — — 508 388 
Total$5,477 $679 $479 $2,137 $5,006 $753 $508 $2,146 
Reconciliation for Fair Value Measurements That Use Significant Unobservable Inputs
The table below presents a reconciliation of the fair value measurements for owned real estate properties, which use significant unobservable inputs (Level 3):
(In millions)20242023
Balance at beginning of year$508 $569 
Unrealized losses, net(25)(60)
Realized gains, net16 10 
Purchases, sales and settlements, net(20)(11)
Balance at end of year$479 $508 
Estimated Future Benefit Payments Which Reflect Expected Future Service To Be Paid By The Plans Benefit payments that we expect to pay on an undiscounted basis are as follows:
(In millions)20252026202720282029
2030-2034
Pension benefits$459 $467 $476 $484 $491 $2,510 
Postretirement benefits other than pensions16 15 14 13 13 50