Stockholders' Equity and Stock-Based Compensation (Tables)

3 Months Ended

Mar. 27, 2026

Share-Based Payment Arrangement [Abstract]

Share Repurchase Program

The Company’s Board of Directors has approved the following programs to repurchase shares of the Company’s common stock:

Name of program	Date of Board of Director approval	Number of shares of Company common stock approved for repurchase	Number of shares remaining available for repurchase as of March 27, 2026
2024 Repurchase Program	July 22, 2024	20,000,000	2,000,000
2025 Repurchase Program	September 9, 2025	35,000,000	35,000,000

Summary of Share Activity

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

	Three-Month Period Ended
	March 27, 2026	March 28, 2025
Common stock - shares issued:
Balance, beginning of period	886.9	884.3
Common stock-based compensation awards	1.1	1.3
Balance, end of period	888.0	885.6

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 27, 2026		March 28, 2025
RSUs/PSUs:
Pretax compensation expense	$	36	$	35
Income tax benefit	(7)		(7)
RSU/PSU expense, net of income taxes	29		28
Stock options:
Pretax compensation expense	22		26
Income tax benefit	(5)		(5)
Stock option expense, net of income taxes	17		21
Total stock-based compensation:
Pretax compensation expense	58		61
Income tax benefit	(12)		(12)
Total stock-based compensation expense, net of income taxes	$	46	$	49

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 27, 2026:
Balance, December 31, 2025	$	(239)	$	(185)		$	217		$	(207)
OCI before reclassifications:
Increase (decrease)	(383)		—			58			(325)
Income tax impact	(11)		—			—			(11)
OCI before reclassifications, net of income taxes	(394)		—			58			(336)
Reclassification adjustments:
Increase (decrease)	—		1		(a)	(51)		(b)	(50)
Income tax impact	—		—			—			—
Reclassification adjustments, net of income taxes	—		1			(51)			(50)
Net OCI, net of income taxes	(394)		1			7			(386)
Balance, March 27, 2026	$	(633)	$	(184)		$	224		$	(593)
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)

(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).