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DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 28, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Total Notional Amounts of the Company's Derivative Instruments
(millions)20242023
Foreign currency exchange contracts$3,243 $3,141 
Cross-currency contracts2,030 1,707 
Interest rate contracts1,050 2,289 
Commodity contracts285 201 
Total$6,608 $7,338 
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheet on a recurring basis as of December 28, 2024 and December 30, 2023:
Derivatives designated as hedging instruments
  
20242023
(millions)Level 1Level 2TotalLevel 1Level 2Total
Assets:
Cross-currency contracts:
Other current assets$— $47 $47 $— $12 $12 
Other Assets— 51 51 — 4 4 
Total assets$— $98 $98 $— $16 $16 
Liabilities:
Cross-currency contracts:
Other current liabilities$— $(2)$(2)$— $(17)$(17)
Other liabilities— (9)(9)— (15)(15)
Interest rate contracts (a):
Other current liabilities— — — — (44)(44)
Other liabilities— (41)(41)— (45)(45)
Total liabilities$— $(52)$(52)$— $(121)$(121)
(a)The fair value of the related hedged portion of the Company’s long-term debt, a level 2 liability, was approximately $0.4 billion as of December 28, 2024 and $1.1 billion as of December 30, 2023, respectively.
Derivatives not designated as hedging instruments
  
20242023
(millions)Level 1Level 2TotalLevel 1Level 2Total
Assets:
Foreign currency exchange contracts:
  Other current assets$— $65 $65 $— $51 $51 
Other assets— 2 2 — 4 4 
Interest rate contracts:
Other current assets— 6 6 — 9 9 
Other assets— 1 1 — 4 4 
Commodity contracts:
Other current assets4 — 4 2 — 2 
Total assets$4 $74 $78 $2 $68 $70 
Liabilities:
Foreign currency exchange contracts:
  Other current liabilities$— $(33)$(33)$— $(54)$(54)
Other liabilities— (1)(1)— (6)(6)
Interest rate contracts:
Other current liabilities— (8)(8)— (11)(11)
Other liabilities— (1)(1)— (6)(6)
Commodity contracts:
Other current liabilities(7)— (7)(2)— (2)
Total liabilities$(7)$(43)$(50)$(2)$(77)$(79)
Schedule of Derivative Instruments in Statement of Financial Position Fair Value
The following amounts were recorded on the Consolidated Balance Sheet related to cumulative basis adjustments for existing fair value hedges as of December 28, 2024 and December 30, 2023.
(millions)Line Item in the Consolidated Balance Sheet in which the hedged item is includedCarrying amount of the hedged liabilitiesCumulative amount of fair value hedging adjustment included in the carrying amount of the hedged liabilities (a)
December 28,
2024		December 30,
2023		December 28,
2024		December 30,
2023
Interest rate contractsCurrent maturities of long-term debt$627 $655 $1 $(8)
Interest rate contractsLong-term debt$1,005 $1,666 $(43)$(43)
(a)The fair value adjustment related to current maturities of long-term debt includes $1 million and $2 million from discontinued hedging relationships as of December 28, 2024, and December 30, 2023, respectively. The hedged long-term debt includes $(1) million and $3 million of hedging adjustment on discontinued hedging relationships as of December 28, 2024 and December 30, 2023, respectively.
Offsetting Assets
As of December 28, 2024
  
  
  
  
Gross Amounts Not
Offset in the
Consolidated Balance
Sheet
  
  
Amounts
Presented in
the
Consolidated
Balance
Sheet		Financial
Instruments		Cash
Collateral
Received/
Posted		Net
Amount
Total asset derivatives$176 $(88)$61 $149 
Total liability derivatives$(102)$88 $14 $— 
 
As of December 30, 2023
  
  
  Gross Amounts Not
Offset in the
Consolidated Balance
Sheet		 
  
Amounts
Presented in
the
Consolidated
Balance
Sheet		Financial
Instruments		Cash
Collateral
Received/
Posted		Net
Amount
Total asset derivatives$86 $(84)$— $2 
Total liability derivatives$(200)$84 $68 $(48)
Offsetting Liabilities
As of December 28, 2024
  
  
  
  
Gross Amounts Not
Offset in the
Consolidated Balance
Sheet
  
  
Amounts
Presented in
the
Consolidated
Balance
Sheet		Financial
Instruments		Cash
Collateral
Received/
Posted		Net
Amount
Total asset derivatives$176 $(88)$61 $149 
Total liability derivatives$(102)$88 $14 $— 
 
As of December 30, 2023
  
  
  Gross Amounts Not
Offset in the
Consolidated Balance
Sheet		 
  
Amounts
Presented in
the
Consolidated
Balance
Sheet		Financial
Instruments		Cash
Collateral
Received/
Posted		Net
Amount
Total asset derivatives$86 $(84)$— $2 
Total liability derivatives$(200)$84 $68 $(48)
Schedule of the Effect of Derivative Instrument on the Consolidated Statement of Income
The effect of derivative instruments on the Consolidated Statement of Income for the years ended December 28, 2024, December 30, 2023 and December 31, 2022:
Derivatives and non-derivatives in net investment hedging relationships
(millions)Gain (loss)
recognized in
AOCI		Gain (loss) excluded from assessment of hedge effectivenessLocation of gain (loss) in income of excluded component
  
202420232022202420232022
Foreign currency denominated long-term debt$82 $(57)$164 $— $— $— 
Cross-currency contracts96 (71)123 40 53 39 Interest expense
Total$178 $(128)$287 $40 $53 $39 
 
Derivatives not designated as hedging instruments
 
(millions)Location of gain
(loss)
recognized in
income		Gain (loss)
recognized in
income
  
  
202420232022
Foreign currency exchange contractsCOGS$66 $(6)$35 
Foreign currency exchange contractsSGA expense(5)(12)4 
Foreign currency exchange contractsOIE4 (10)(4)
Interest rate contractsInterest expense— — 4 
Commodity contractsCOGS(67)(110)43 
Total $(2)$(138)$82 

The effect of fair value and cash flow hedge accounting on the Consolidated Income Statement for the years ended December 28, 2024, December 30, 2023 and December 31, 2022:
December 28, 2024December 30, 2023December 31, 2022
(millions)Interest expenseInterest expenseInterest expense
Total amounts of income and expense line items presented in the Consolidated Income Statement in which the effects of fair value or cash flow hedges are recorded$311 $303 $201 
Gain (loss) on fair value hedging relationships:
Interest contracts:
Hedged items(9)(26)89 
Derivatives designated as hedging instruments15 30 (85)
Gain (loss) on cash flow hedging relationships:
Interest contracts:
Amount of gain (loss) reclassified from AOCI into income(3)(9)2