General (Tables)

6 Months Ended

Jul. 02, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Components Of Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) by component are summarized below ($ in millions). Foreign currency translation adjustments generally relate to indefinite investments in non-U.S. subsidiaries, as well as the impact from the Company’s hedges of its net investment in foreign operations, including the Company’s cross-currency swap derivatives, net of any income tax impacts.

	Foreign Currency Translation Adjustments		Pension and Postretirement Plan Benefit Adjustments			Unrealized Gain (Loss) on Available-For-Sale Securities Adjustments		Cash Flow Hedge Adjustments			Total
For the Three-Month Period Ended July 2, 2021:
Balance, April 2, 2021	$	(177)	$	(918)		$	—	$	(227)		$	(1,322)
Other comprehensive income (loss) before reclassifications:
Increase (decrease)	419		—			(1)		192			610
Income tax impact	(10)		—			—		—			(10)
Other comprehensive income (loss) before reclassifications, net of income taxes	409		—			(1)		192			600
Amounts reclassified from accumulated other comprehensive income (loss):
Increase (decrease)	—		15		(a)	—		36		(b)	51
Income tax impact	—		(4)			—		—			(4)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	—		11			—		36			47
Net current period other comprehensive income (loss), net of income taxes	409		11			(1)		228			647
Balance, July 2, 2021	$	232	$	(907)		$	(1)	$	1		$	(675)
For the Three-Month Period Ended July 3, 2020:
Balance, April 3, 2020	$	(2,327)	$	(773)		$	—	$	309		$	(2,791)
Other comprehensive income (loss) before reclassifications:
Increase (decrease)	1,071		—			—		(354)			717
Income tax impact	6		—			—		74			80
Other comprehensive income (loss) before reclassifications, net of income taxes	1,077		—			—		(280)			797
Amounts reclassified from accumulated other comprehensive income (loss):
Increase (decrease)	—		11		(a)	—		156		(b)	167
Income tax impact	—		(3)			—		(33)			(36)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	—		8			—		123			131
Net current period other comprehensive income (loss), net of income taxes	1,077		8			—		(157)			928
Balance, July 3, 2020	$	(1,250)	$	(765)		$	—	$	152		$	(1,863)

(a) This accumulated other comprehensive income (loss) component is included in the computation of net periodic pension cost (refer to Notes 9 and 11 for additional details).

(b) Reflects reclassification to earnings related to hedges of certain long-term debt (refer to Note 8 for additional details).

	Foreign Currency Translation Adjustments		Pension and Postretirement Plan Benefit Adjustments			Unrealized Gain (Loss) on Available-For-Sale Securities Adjustments		Cash Flow Hedge Adjustments			Total
For the Six-Month Period Ended July 2, 2021:
Balance, December 31, 2020	$	745	$	(928)		$	—	$	(185)		$	(368)
Other comprehensive income (loss) before reclassifications:
Increase (decrease)	(498)		—			(1)		302			(197)
Income tax impact	(15)		—			—		—			(15)
Other comprehensive income (loss) before reclassifications, net of income taxes	(513)		—			(1)		302			(212)
Amounts reclassified from accumulated other comprehensive income (loss):
Increase (decrease)	—		28		(a)	—		(116)		(b)	(88)
Income tax impact	—		(7)			—		—			(7)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	—		21			—		(116)			(95)
Net current period other comprehensive income (loss), net of income taxes	(513)		21			(1)		186			(307)
Balance, July 2, 2021	$	232	$	(907)		$	(1)	$	1		$	(675)
For the Six-Month Period Ended July 3, 2020:
Balance, December 31, 2019	$	(2,173)	$	(781)		$	(1)	$	(113)		$	(3,068)
Other comprehensive income (loss) before reclassifications:
Increase (decrease)	939		—			1		297			1,237
Income tax impact	(16)		—			—		(45)			(61)
Other comprehensive income (loss) before reclassifications, net of income taxes	923		—			1		252			1,176
Amounts reclassified from accumulated other comprehensive income (loss):
Increase (decrease)	—		22		(a)	—		17		(b)	39
Income tax impact	—		(6)			—		(4)			(10)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	—		16			—		13			29
Net current period other comprehensive income (loss), net of income taxes	923		16			1		265			1,205
Balance, July 3, 2020	$	(1,250)	$	(765)		$	—	$	152		$	(1,863)

(a) This accumulated other comprehensive income (loss) component is included in the computation of net periodic pension cost (refer to Notes 9 and 11 for additional details).

(b) Reflects reclassification to earnings related to hedges of certain long-term debt (refer to Note 8 for additional details).