REPORTABLE SEGMENTS (Tables)

9 Months Ended

Sep. 27, 2025

Segment Reporting [Abstract]

Reconciliation of Revenue from Segments to Consolidated

Reportable segment results including details of the significant expense categories provided to the CODM for the quarter and year-to-date periods ended September 27, 2025 and September 28, 2024 were as follows:

Quarter ended September 27, 2025	Reportable segments
(millions)	North America		Europe		Latin America		AMEA		Corporate		Consolidated
Net sales	$	1,627	$	653	$	308	$	672	$	—	$	3,260
Cost of goods sold	1,018		448		219		498		(7)		2,176
Selling, general, and administrative expense	268		132		74		105		53		632
Operating profit	$	341	$	73	$	15	$	69	$	(46)	$	452
Year-to-date period ended September 27, 2025	Reportable segments
(millions	North America		Europe		Latin America		AMEA		Corporate		Consolidated
Net sales	$	4,840	$	1,883	$	883	$	1,940	$	—	$	9,546
Cost of goods sold	$	3,002	$	1,264	$	609	$	1,427	$	11	$	6,313
Selling, general, and administrative expense	$	857	$	363	$	204	$	308	$	181	$	1,913
Operating profit	$	981	$	256	$	70	$	205	$	(192)	$	1,320

Quarter ended September 28, 2024	Reportable segments
(millions)	North America		Europe		Latin America		AMEA		Corporate		Consolidated
Net sales	$	1,673	$	660	$	311	$	590	$	(1)	$	3,233
Cost of goods sold	1,074		416		209		420		(62)		2,057
Selling, general, and administrative expense	302		143		73		105		97		720
Operating profit	$	297	$	101	$	29	$	65	$	(36)	$	456
Year-to-date period ended September 28, 2024	Reportable segments
(millions)	North America		Europe		Latin America		AMEA		Corporate		Consolidated
Net Sales	$	5,019	$	1,898	$	958	$	1,754	$	(4)	$	9,625
Cost of goods sold	$	3,146	$	1,282	$	643	$	1,244	$	(58)	$	6,257
Selling, general, and administrative expense	$	902	$	376	$	213	$	310	$	225	$	2,026
Operating profit	$	971	$	240	$	102	$	200	$	(171)	$	1,342

Schedule of Reportable Segment Information

	Quarter ended				Year-to-date period ended
(millions)	September 27, 2025		September 28, 2024		September 27, 2025		September 28, 2024
Depreciation and amortization
North America (a)	$	40	$	42	$	125	$	153
Europe (a)	27		23		73		108
Latin America	10		8		30		25
AMEA	15		16		43		41
Total Reportable Segments	92		89		271		327
Corporate	2		3		6		6
Consolidated	$	94	$	92	$	277	$	333
Interest expense
North America	$	—	$	1	$	—	$	5
Europe	7		17		23		52
Latin America	2		2		4		5
AMEA	2		5		12		15
Corporate	49		50		147		164
Consolidated	$	60	$	75	$	186	$	241
Income taxes
Europe	$	10	$	9	$	30	$	26
Latin America	4		7		$	13	$	32
AMEA	14		12		$	43	$	37
Corporate & North America	61		6		$	159	$	118
Consolidated	$	89	$	34	$	245	$	213

(a) Year-to-date period ended September 28, 2024, includes asset impairment charges as discussed in Note 10.

Schedule Of Total Assets And Additions To Long Lived Assets By Segment

	Quarter ended				Year-to-date period ended
(millions)	September 27, 2025		September 28, 2024		September 27, 2025		September 28, 2024
Additions to property
North America	$	57	$	55	$	162	$	175
Europe	43		35		140		104
Latin America	10		24		59		74
AMEA	28		24		92		75
Corporate	6		5		15		12
Consolidated	$	144	$	143	$	468	$	440

Revenue from External Customers by Products and Services

Supplemental product information is provided below for net sales to external customers:

	Quarter ended				Year-to-date period ended
(millions)	September 27, 2025		September 28, 2024		September 27, 2025		September 28, 2024
Snacks	$	2,027	$	2,069	$	5,932	$	6,153
Cereal	678		690		1,995		2,066
Frozen	275		276		821		828
Noodles and other	280		198		798		578
Consolidated	$	3,260	$	3,233	$	9,546	$	9,625