Stockholders' Equity and Stock-Based Compensation (Tables)

3 Months Ended

Mar. 28, 2025

Share-Based Payment Arrangement [Abstract]

Summary of Share Activity

The following table summarizes the Company’s share activity (shares in millions):

	Three-Month Period Ended
	March 28, 2025	March 29, 2024
Common stock - shares issued:
Balance, beginning of period	884.3	880.5
Common stock-based compensation awards	1.3	1.8
Balance, end of period	885.6	882.3

Components of Stock-Based Compensation Program

The following summarizes the components of the Company’s stock-based compensation expense ($ in millions):

	Three-Month Period Ended
	March 28, 2025		March 29, 2024
RSUs/PSUs:
Pretax compensation expense	$	35	$	32
Income tax benefit	(7)		(6)
RSU/PSU expense, net of income taxes	28		26
Stock options:
Pretax compensation expense	26		28
Income tax benefit	(5)		(6)
Stock option expense, net of income taxes	21		22
Total stock-based compensation:
Pretax compensation expense	61		60
Income tax benefit	(12)		(12)
Total stock-based compensation expense, net of income taxes	$	49	$	48

Components of Accumulated Other Comprehensive Income (Loss)

The changes in accumulated OCI by component are summarized below ($ in millions).

	Foreign Currency Translation Adjustments		Pension and Postretirement Plan Benefit Adjustments			Cash Flow Hedge Adjustments			Accumulated Comprehensive Income (Loss)
For the Three-Month Period Ended March 28, 2025:
Balance, December 31, 2024	$	(2,904)	$	(300)		$	(14)		$	(3,218)
OCI before reclassifications:
Increase (decrease)	1,436		—			39			1,475
Income tax impact	13		—			—			13
OCI before reclassifications, net of income taxes	1,449		—			39			1,488
Reclassification adjustments:
Increase (decrease)	—		2		(a)	117		(b)	119
Income tax impact	—		(1)			—			(1)
Reclassification adjustments, net of income taxes	—		1			117			118
Net OCI, net of income taxes	1,449		1			156			1,606
Balance, March 28, 2025	$	(1,455)	$	(299)		$	142		$	(1,612)
For the Three-Month Period Ended March 29, 2024:
Balance, December 31, 2023	$	(1,446)	$	(401)		$	99		$	(1,748)
OCI before reclassifications:
Increase (decrease)	(935)		—			23			(912)
Income tax impact	(13)		—			—			(13)
OCI before reclassifications, net of income taxes	(948)		—			23			(925)
Reclassification adjustments:
Increase (decrease)	—		3		(a)	(73)		(b)	(70)
Income tax impact	—		(1)			—			(1)
Reclassification adjustments, net of income taxes	—		2			(73)			(71)
Net OCI, net of income taxes	(948)		2			(50)			(996)
Balance, March 29, 2024	$	(2,394)	$	(399)		$	49		$	(2,744)

(a) This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost (refer to Note 7 for additional details).

(b) Reflects reclassification to earnings related to cash flow hedges of certain long-term debt (refer to Note 11 for additional details).