Other Comprehensive Income (Loss)

9 Months Ended

Oct. 01, 2022

Equity [Abstract]

Other Comprehensive Income (Loss)

Note 10 : Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) by component and related tax effects in the first nine months of 2022 were as follows:

(In Millions)	Unrealized Holding Gains (Losses) on Derivatives		Actuarial Valuation and Other Pension Expenses		Translation Adjustments and Other		Total
Balance as of December 25, 2021	$	211	$	(1,114)	$	23	$	(880)
Other comprehensive income (loss) before reclassifications	(1,575)		—		(38)		(1,613)
Amounts reclassified out of accumulated other comprehensive income (loss)	205		34				239
Tax effects	192		3		8		203
Other comprehensive income (loss)	(1,178)		37		(30)		(1,171)
Balance as of October 1, 2022	$	(967)	$	(1,077)	$	(7)	$	(2,051)

We estimate that we will reclassify approximately $623 million (before taxes) of net derivative losses included in accumulated other comprehensive income (loss) into earnings within the next 12 months.