Derivative Instruments and Fair Value Measurements (Tables)

6 Months Ended

Jun. 29, 2013

Derivative Instruments and Fair Value Measurements [Abstract]

Schedule of Total Notional Amounts of the Company's Derivative Instruments [Table Text Block]

		June 29,		December 29,
(millions)		2013		2012
Foreign currency exchange contracts	$	519	$	570
Interest rate contracts		2,400		2,150
Commodity contracts		372		320
Total	$	3,291	$	3,040

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis [Table Text Block]

The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheet on a recurring basis as of June 29, 2013 and December 29, 2012:
Derivatives designated as hedging instruments
			June 29, 2013						December 29, 2012
			Level		Level		Total		Level		Level		Total
(millions)			1		2				1		2
Assets:
Foreign currency exchange contracts:
	Other prepaid assets	$	-	$	10	$	10	$	-	$	4	$	4
Interest rate contracts (a):
	Other assets		-		-		-		-		64		64
Total assets		$	-	$	10	$	10	$	-	$	68	$	68
Liabilities:
Foreign currency exchange contracts:
	Other current liabilities	$	-	$	(4)	$	(4)	$	-	$	(3)	$	(3)
Interest rate contracts:
	Other liabilities		-		(59)		(59)		-		-		-
Commodity contracts:
	Other current liabilities		-		(11)		(11)		-		(11)		(11)
	Other liabilities		-		(23)		(23)		-		(27)		(27)
Total liabilities		$	-	$	(97)	$	(97)	$	-	$	(41)	$	(41)
(a) The fair value of the related hedged portion of the Company's long-term debt, a level 2 liability, was $2.5 billion as of June 29, 2013 and $2.3 billion as of December 29, 2012.
Derivatives not designated as hedging instruments
			June 29, 2013						December 29, 2012
			Level		Level		Total		Level		Level		Total
(millions)			1		2				1		2
Assets:
Foreign currency exchange contracts:
	Other prepaid assets	$	-	$	1	$	1	$	-	$	-	$	-
Commodity contracts:
	Other prepaid assets		4		-		4		5		-		5
Total assets		$	4	$	1	$	5	$	5	$	-	$	5
Liabilities:
Commodity contracts:
	Other current liabilities	$	(19)	$	-	$	(19)	$	(3)	$	-	$	(3)
Total liabilities		$	(19)	$	-	$	(19)	$	(3)	$	-	$	(3)

Schedule of the Effect of Derivative Instruments on the Consolidated Statement of Income [Table Text Block]

The effect of derivative instruments on the Consolidated Statements of Income and Comprehensive Income for the quarters ended June 29, 2013 and June 30, 2012 was as follows:
Derivatives in fair value hedging relationships
										Location of gain		Gain (loss)
										(loss) recognized		recognized in
(millions)										in income		income (a)
												Jun. 29,		Jun. 30,
												2013		2012
Foreign currency exchange contracts										Other income (expense), net	$	-	$	(16)
Interest rate contracts										Interest expense		-		(1)
Total											$	-	$	(17)
(a) Includes the ineffective portion and amount excluded from effectiveness testing.
Derivatives in cash flow hedging relationships
					Location of gain		Gain (loss)			Location of gain		Gain (loss)
		Gain (loss)			(loss) reclassified		reclassified from			(loss) recognized		recognized in
(millions)		recognized in AOCI			from AOCI		AOCI into income			in income (a)		income (a)
		Jun. 29,		Jun. 30,			Jun. 29,		Jun. 30,			Jun. 29,		Jun. 30,
		2013		2012			2013		2012			2013		2012
Foreign currency exchange contracts	$	3	$	1	COGS	$	3	$	-	Other income (expense), net	$	-	$	-
Foreign currency exchange contracts		-		1	SGA expense		-		1	Other income (expense), net		-		-
Interest rate contracts		-		-	Interest expense		1		1	N/A		-		-
Commodity contracts		(2)		(2)	COGS		(2)		(7)	Other income (expense), net		-		-
Total	$	1	$	-		$	2	$	(5)		$	-	$	-
(a) Includes the ineffective portion and amount excluded from effectiveness testing.
Derivatives in net investment hedging relationships
												Gain (loss)
												recognized in
(millions)												AOCI
												Jun. 29,		Jun. 30,
												2013		2012
Foreign currency exchange contracts											$	-	$	12
Total											$	-	$	12
Derivatives not designated as hedging instruments
										Location of gain		Gain (loss)
										(loss) recognized		recognized in
(millions)										in income		income
												Jun. 29,		Jun. 30,
												2013		2012
Foreign currency exchange contracts										COGS	$	1	$	-
Interest rate contracts										Interest expense		-		(27)
Commodity contracts										COGS		(8)		-
Total											$	(7)	$	(27)

The effect of derivative instruments on the Consolidated Statement of Income for the year-to-date periods ended June 29, 2013 and June 30, 2012 were as follows:
Derivatives in fair value hedging relationships
										Location of gain		Gain (loss)
										(loss) recognized		recognized in
(millions)										in income		income(a)
												Jun. 29,		Jun. 30,
												2013		2012
Foreign currency exchange contracts										Other income (expense), net	$	3	$	(1)
Interest rate contracts										Interest expense		1		-
Total											$	4	$	(1)
(a) Includes the ineffective portion and amount excluded from effectiveness testing.
Derivatives in cash flow hedging relationships
					Location of gain		Gain (loss)			Location of gain		Gain (loss)
		Gain (loss)			(loss) reclassified		reclassified from			(loss) recognized		recognized in
(millions)		recognized in AOCI			from AOCI		AOCI into income			in income (a)		income(a)
		Jun. 29,		Jun. 30,			Jun. 29,		Jun. 30,			Jun. 29,		Jun. 30,
		2013		2012			2013		2012			2013		2012
Foreign currency exchange contracts	$	12	$	(1)	COGS	$	5	$	-	Other income (expense), net	$	-	$	-
Foreign currency exchange contracts		1		1	SGA expense		-		1	Other income (expense), net		-		-
Interest rate contracts		-		-	Interest expense		2		2	N/A		-		-
Commodity contracts		(1)		(8)	COGS		(5)		(12)	Other income (expense), net		-		-
Total	$	12	$	(8)		$	2	$	(9)		$	-	$	-
(a) Includes the ineffective portion and amount excluded from effectiveness testing.
Derivatives in net investment hedging relationships
												Gain (loss)
												recognized in
(millions)												AOCI
												Jun. 29,		Jun. 30,
												2013		2012
Foreign currency exchange contracts											$	-	$	6
Total											$	-	$	6
Derivatives not designated as hedging instruments
										Location of gain		Gain (loss)
										(loss) recognized		recognized in
(millions)										in income		income
												Jun. 29,		Jun. 30,
												2013		2012
Foreign currency exchange contracts										COGS	$	1	$	-
Interest rate contracts										Interest expense		-		(1)
Commodity contracts										COGS		(24)		-
Total											$	(23)	$	(1)

Schedule of Fair Value of Long-term Debt [Table Text Block]

(millions)		Fair Value		Carrying Value
Current maturities of long-term debt	$	293	$	293
Long-term debt		6,792		6,337
Total	$	7,085	$	6,630