Equity (Tables)

6 Months Ended

Jun. 30, 2018

Equity [Abstract]

Schedule of Earnings Per Share

Quarters ended June 30, 2018 and July 1, 2017:

(millions, except per share data)	Net income		Average shares outstanding	Earnings per share
2018
Basic	$	596	347	$	1.72
Dilutive potential common shares			1	(0.01		)
Diluted	$	596	348	$	1.71
2017
Basic	$	283	349	$	0.81
Dilutive potential common shares			3	(0.01		)
Diluted	$	283	352	$	0.80

Year-to-date periods ended June 30, 2018 and July 1, 2017:

(millions, except per share data)	Net income		Average shares outstanding	Earnings per share
2018
Basic	$	1,040	346	$	3.00
Dilutive potential common shares			2	(0.01		)
Diluted	$	1,040	348	$	2.99
2017
Basic	$	549	350	$	1.57
Dilutive potential common shares			3	(0.01		)
Diluted	$	549	353	$	1.56

Reclassifications Out of AOCI

Reclassifications out of AOCI for the quarter and year-to-date periods ended June 30, 2018 and July 1, 2017, consisted of the following:

(millions)
Details about AOCI components	Amount reclassified from AOCI						Line item impacted within Income Statement
	Quarter ended June 30, 2018			Year-to-date period ended June 30, 2018
(Gains) losses on cash flow hedges:
Foreign currency exchange contracts	$	—		$	—		COGS
Interest rate contracts	2			4			Interest expense
	$	2		$	4		Total before tax
	(1		)	(1		)	Tax expense (benefit)
	$	1		$	3		Net of tax
Amortization of postretirement and postemployment benefits:
Net experience loss	$	(1	)	$	(2	)	OIE
	$	(1	)	$	(2	)	Total before tax
	—			—			Tax expense (benefit)
	$	(1	)	$	(2	)	Net of tax
Total reclassifications	$	—		$	1		Net of tax

(millions)
Details about AOCI components	Amount reclassified from AOCI					Line item impacted within Income Statement
	Quarter ended July 1, 2017		Year-to-date period ended July 1, 2017
(Gains) losses on cash flow hedges:
Foreign currency exchange contracts	$	—	$	(1	)	COGS
Foreign currency exchange contracts	—		—			SGA
Interest rate contracts	2		5			Interest expense
Commodity contracts	—		—			COGS
	$	2	$	4		Total before tax
	—		(1		)	Tax expense (benefit)
	$	2	$	3		Net of tax
Amortization of postretirement and postemployment benefits:
Net experience loss	$	—	$	1		See Note 8 for further details
Prior service cost	—		—			See Note 8 for further details
	$	—	$	1		Total before tax
	—		—			Tax expense (benefit)
	$	—	$	1		Net of tax
Total reclassifications	$	2	$	4		Net of tax

Summary of Accumulated Other Comprehensive Income (Loss)

(millions)	June 30, 2018			December 30, 2017
Foreign currency translation adjustments	$	(1,473	)	$	(1,426	)
Cash flow hedges — unrealized net gain (loss)	(56		)	(61		)
Postretirement and postemployment benefits:
Net experience loss	32			34
Prior service cost	(4		)	(4		)
Total accumulated other comprehensive income (loss)	$	(1,501	)	$	(1,457	)