Equity (Tables)

9 Months Ended

Sep. 29, 2018

Equity [Abstract]

Schedule of Earnings Per Share

Quarters ended September 29, 2018 and September 30, 2017:

(millions, except per share data)	Net income		Average shares outstanding	Earnings per share
2018
Basic	$	380	347	$	1.10
Dilutive potential common shares			2	(0.01		)
Diluted	$	380	349	$	1.09
2017
Basic	$	288	345	$	0.83
Dilutive potential common shares			3	—
Diluted	$	288	348	$	0.83

Year-to-date periods ended September 29, 2018 and September 30, 2017:

(millions, except per share data)	Net income		Average shares outstanding	Earnings per share
2018
Basic	$	1,420	346	$	4.10
Dilutive potential common shares			3	(0.03		)
Diluted	$	1,420	349	$	4.07
2017
Basic	$	837	348	$	2.40
Dilutive potential common shares			3	(0.02		)
Diluted	$	837	351	$	2.38

Reclassifications Out of AOCI

Reclassifications out of AOCI for the quarter and year-to-date periods ended September 29, 2018 and September 30, 2017, consisted of the following:

(millions)
Details about AOCI components	Amount reclassified from AOCI						Line item impacted within Income Statement
	Quarter ended September 29, 2018			Year-to-date period ended September 29, 2018
(Gains) losses on cash flow hedges:
Foreign currency exchange contracts	$	—		$	—		COGS
Interest rate contracts	2			6			Interest expense
	$	2		$	6		Total before tax
	(1		)	(2		)	Tax expense (benefit)
	$	1		$	4		Net of tax
Amortization of postretirement and postemployment benefits:
Net experience loss	$	(1	)	$	(3	)	OIE
	$	(1	)	$	(3	)	Total before tax
	—			—			Tax expense (benefit)
	$	(1	)	$	(3	)	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 September 30, 2017			Year-to-date period ended September 30, 2017
(Gains) losses on cash flow hedges:
Foreign currency exchange contracts	$	—		$	(1	)	COGS
Interest rate contracts	3			8			Interest expense
	$	3		$	7		Total before tax
	(1		)	(2		)	Tax expense (benefit)
	$	2		$	5		Net of tax
Amortization of postretirement and postemployment benefits:
Net experience loss	$	—		$	1		See Note 8 for further details
	$	—		$	1		Total before tax
	—			—			Tax expense (benefit)
	$	—		$	1		Net of tax
Total reclassifications	$	2		$	6		Net of tax

Summary of Accumulated Other Comprehensive Income (Loss)

(millions)	September 29, 2018			December 30, 2017
Foreign currency translation adjustments	$	(1,483	)	$	(1,426	)
Cash flow hedges — unrealized net gain (loss)	(55		)	(61		)
Postretirement and postemployment benefits:
Net experience loss	31			34
Prior service cost	(5		)	(4		)
Total accumulated other comprehensive income (loss)	$	(1,512	)	$	(1,457	)