General (Tables)

9 Months Ended

Oct. 01, 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 October 1, 2021:
Balance, July 2, 2021	$	232	$	(907)		$	(1)	$	1		$	(675)
Other comprehensive income (loss) before reclassifications:
Increase (decrease)	(387)		—			—		87			(300)
Income tax impact	(9)		—			—		—			(9)
Other comprehensive income (loss) before reclassifications, net of income taxes	(396)		—			—		87			(309)
Amounts reclassified from accumulated other comprehensive income (loss):
Increase (decrease)	—		15		(a)	—		(89)		(b)	(74)
Income tax impact	—		(3)			—		—			(3)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	—		12			—		(89)			(77)
Net current period other comprehensive income (loss), net of income taxes	(396)		12			—		(2)			(386)
Balance, October 1, 2021	$	(164)	$	(895)		$	(1)	$	(1)		$	(1,061)
For the Three-Month Period Ended October 2, 2020:
Balance, July 3, 2020	$	(1,250)	$	(765)		$	—	$	152		$	(1,863)
Other comprehensive income (loss) before reclassifications:
Increase (decrease)	909		—			—		(305)			604
Income tax impact	14		—			—		48			62
Other comprehensive income (loss) before reclassifications, net of income taxes	923		—			—		(257)			666
Amounts reclassified from accumulated other comprehensive income (loss):
Increase (decrease)	—		12		(a)	—		167		(b)	179
Income tax impact	—		(3)			—		—			(3)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	—		9			—		167			176
Net current period other comprehensive income (loss), net of income taxes	923		9			—		(90)			842
Balance, October 2, 2020	$	(327)	$	(756)		$	—	$	62		$	(1,021)

(a) This accumulated other comprehensive income (loss) component is included in the computation of net periodic pension cost (refer to Notes 9 and 12 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 Nine-Month Period Ended October 1, 2021:
Balance, December 31, 2020	$	745	$	(928)		$	—	$	(185)		$	(368)
Other comprehensive income (loss) before reclassifications:
Increase (decrease)	(885)		—			(1)		389			(497)
Income tax impact	(24)		—			—		—			(24)
Other comprehensive income (loss) before reclassifications, net of income taxes	(909)		—			(1)		389			(521)
Amounts reclassified from accumulated other comprehensive income (loss):
Increase (decrease)	—		43		(a)	—		(205)		(b)	(162)
Income tax impact	—		(10)			—		—			(10)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	—		33			—		(205)			(172)
Net current period other comprehensive income (loss), net of income taxes	(909)		33			(1)		184			(693)
Balance, October 1, 2021	$	(164)	$	(895)		$	(1)	$	(1)		$	(1,061)
For the Nine-Month Period Ended October 2, 2020:
Balance, December 31, 2019	$	(2,173)	$	(781)		$	(1)	$	(113)		$	(3,068)
Other comprehensive income (loss) before reclassifications:
Increase (decrease)	1,848		—			1		(8)			1,841
Income tax impact	(2)		—			—		3			1
Other comprehensive income (loss) before reclassifications, net of income taxes	1,846		—			1		(5)			1,842
Amounts reclassified from accumulated other comprehensive income (loss):
Increase (decrease)	—		34		(a)	—		184		(b)	218
Income tax impact	—		(9)			—		(4)			(13)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	—		25			—		180			205
Net current period other comprehensive income (loss), net of income taxes	1,846		25			1		175			2,047
Balance, October 2, 2020	$	(327)	$	(756)		$	—	$	62		$	(1,021)

(a) This accumulated other comprehensive income (loss) component is included in the computation of net periodic pension cost (refer to Notes 9 and 12 for additional details).

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