Equity (Tables)

6 Months Ended

Jul. 03, 2021

Reclassifications out of Accumulated other comprehensive income (AOCI) for the quarter and year-to-date periods ended July 3, 2021 and June 27, 2020, consisted of the following:


(millions)
Details about AOCI components	Amount reclassified from AOCI				Line item impacted within Income Statement
	Quarter ended July 3, 2021		Year-to-date period ended July 3, 2021
(Gains) losses on cash flow hedges:


Interest rate contracts (a)	$	10	$	15	Interest expense

	$	10	$	15	Total before tax
	(3)		(4)		Tax expense (benefit)
	$	7	$	11	Net of tax
Amortization of postretirement and postemployment benefits:
Net experience (gain) loss (b)	$	(1)	$	(2)	OIE

	$	(1)	$	(2)	Total before tax
	1		1		Tax expense (benefit)
	$	—	$	(1)	Net of tax





Total reclassifications	$	7	$	10	Net of tax



(millions)
Details about AOCI components	Amount reclassified from AOCI				Line item impacted within Income Statement
	Quarter ended June 27, 2020		Year-to-date period ended June 27, 2020
(Gains) losses on cash flow hedges:


Interest rate contracts (a)	$	5	$	7	Interest expense

	$	5	$	7	Total before tax
	(2)		(2)		Tax expense (benefit)
	$	3	$	5	Net of tax
Amortization of postretirement and postemployment benefits:
Net experience loss (b)	$	(1)	$	(2)	OIE
Prior service cost (b)	(1)		(1)		OIE
	$	(2)	$	(3)	Total before tax
	1		1		Tax expense (benefit)
	$	(1)	$	(2)	Net of tax





Total reclassifications	$	2	$	3	Net of tax

Summary of Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive income (loss), net of tax, as of July 3, 2021 and January 2, 2021 consisted of the following:


(millions)	July 3, 2021		January 2, 2021
Foreign currency translation adjustments	$	(1,637)	$	(1,668)
Cash flow hedges — unrealized net gain (loss)	(17)		(57)
Postretirement and postemployment benefits:
Net experience gain (loss)	1		2
Prior service credit (cost)	(12)		(12)
Available-for-sale securities unrealized net gain (loss)	2		3
Total accumulated other comprehensive income (loss)	$	(1,663)	$	(1,732)