Nonoperating Income (Expense)

9 Months Ended

Sep. 30, 2016

Component of Operating Income [Abstract]

Nonoperating Income (Expense)

NONOPERATING INCOME (EXPENSE)

The Company received $265 million of cash proceeds from the sale of marketable equity securities during the first quarter of 2016. The Company recorded a pretax gain related to this sale of $223 million ($140 million after-tax or $0.20 per diluted share) during the nine month period ended September 30, 2016.

During the three and nine month periods ended October 2, 2015, the Company received $43 million of cash proceeds from the sales of marketable equity securities. The Company recorded a pretax gain related to these sales of $12 million ($8 million after-tax or $0.01 per diluted share) for the three and nine month periods.

Refer to Note 6 for information related to the $188 million of make-whole premiums associated with the early extinguishment of the Company’s Redeemed Notes. The Company recorded a loss on extinguishment of these borrowings, net of certain deferred gains, of $179 million ($112 million after-tax or $0.16 per diluted share) in the three and nine month periods ended September 30, 2016.