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Equity
 3 Months Ended
Oct. 02, 2021
Equity [Abstract]  
Equity Equity
Earnings per share
Basic earnings per share is determined by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is similarly determined, except that the denominator is increased to include the number of additional common shares that would have been outstanding if all dilutive potential common shares had been issued. Dilutive potential common shares consist principally of employee stock options issued by the Company, restricted stock units, and certain contingently issuable performance shares. There were 8 million and 11 million anti-dilutive potential common shares excluded from the calculation for the quarter and year-to-date periods ended October 2, 2021. There were 7 million anti-dilutive potential common shares excluded from the calculation for the quarter and year-to-date periods ended September 26, 2020. Please refer to the Consolidated Statement of Income for basic and diluted earnings per share for the quarter and year-to-date periods ended October 2, 2021 and September 26, 2020.

Share repurchases
In February 2020, the board of directors approved a new authorization to repurchase up to $1.5 billion of our common stock through December 2022. During the quarter ended October 2, 2021, the Company did not repurchase any shares of common stock. During the year-to-date period ended October 2, 2021, the Company repurchased approximately 4 million shares of common stock for a total of $240 million. During the quarter and year-to-date periods ended September 26, 2020, the Company did not repurchase any shares of common stock.
Comprehensive income
Comprehensive income includes net income and all other changes in equity during a period except those resulting from investments by or distributions to shareholders. Other comprehensive income consists of foreign currency translation adjustments, fair value adjustments associated with cash flow hedges, adjustments for net experience losses and prior service cost related to employee benefit plans, and adjustments for unrealized gains and losses on available-for-sale securities, net of related tax effects.
Reclassifications out of Accumulated other comprehensive income (AOCI) for the quarter and year-to-date periods ended October 2, 2021 and September 26, 2020, consisted of the following:
(millions)
  
  
  
Details about AOCI
components		Amount reclassified
from AOCI		Line item impacted
within Income Statement
 Quarter ended
October 2, 2021		Year-to-date period ended
October 2, 2021
  
(Gains) losses on cash flow hedges:
Interest rate contracts (a)$4 $19 Interest expense
$4 $19 Total before tax
(1)(5)Tax expense (benefit)
$3 $14 Net of tax
Amortization of postretirement and postemployment benefits:
Net experience (gain) loss (b)$— $(2)OIE
$— $(2)Total before tax
— 1 Tax expense (benefit)
$— $(1)Net of tax
(Gains) losses on available-for-sale securities:
Corporate bonds (a)$(2)$(2)OIE
$(2)$(2)Total before tax
— — Tax expense (benefit)
$(2)$(2)Net of tax
Total reclassifications$1 $11 Net of tax
(millions)      
Details about AOCI
components		Amount reclassified
from AOCI		Line item impacted
within Income Statement
 Quarter ended
September 26, 2020		Year-to-date period ended
September 26, 2020		  
(Gains) losses on cash flow hedges:
Interest rate contracts (a)$4 $11 Interest expense
$4 $11 Total before tax
(1)(3)Tax expense (benefit)
$3 $8 Net of tax
Amortization of postretirement and postemployment benefits:
Net experience loss (b)$— $(2)OIE
Prior service cost (b)— (1)OIE
$— $(3)Total before tax
— 1 Tax expense (benefit)
$— $(2)Net of tax
Total reclassifications$3 $6 Net of tax
(a) See Derivative instruments and fair value measurements note
(b) See Employee benefits note
Accumulated other comprehensive income (loss), net of tax, as of October 2, 2021 and January 2, 2021 consisted of the following:
(millions)October 2,
2021		January 2,
2021
Foreign currency translation adjustments$(1,670)$(1,668)
Cash flow hedges — unrealized net gain (loss)(12)(57)
Postretirement and postemployment benefits:
Net experience gain (loss)1 2 
Prior service credit (cost)(12)(12)
Available-for-sale securities unrealized net gain (loss)— 3 
Total accumulated other comprehensive income (loss)$(1,693)$(1,732)