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Tax Matters (Tables)
 6 Months Ended
Jul. 01, 2018
Income Tax Disclosure [Abstract]  
Schedule of Tax Provision (Benefit) on Other Comprehensive Income/(Loss)
The following table provides the components of Tax provision/(benefit) on other comprehensive income/(loss):
 
 
Three Months Ended
 
Six Months Ended
(MILLIONS OF DOLLARS)
 
July 1,
2018

 
July 2,
2017

 
July 1,
2018

 
July 2,
2017

Foreign currency translation adjustments, net(a)
 
$
101

 
$
(109
)
 
$
67

 
$
(130
)
Unrealized holding gains/(losses) on derivative financial instruments, net
 
8

 
(1
)
 
4

 
2

Reclassification adjustments for (gains)/losses included in net income
 
72

 
(88
)
 
65

 
(140
)
Reclassification adjustments of certain tax effects from AOCI to Retained earnings(b)
 
—

 
—

 
1

 
—

 
 
79

 
(89
)
 
70

 
(138
)
Unrealized holding gains/(losses) on available-for-sale securities, net
 
(48
)
 
18

 
(28
)
 
55

Reclassification adjustments for (gains)/losses included in net income
 
20

 
(7
)
 
(2
)
 
4

Reclassification adjustments for tax on unrealized gains from AOCI to Retained earnings(c)
 
—

 
—

 
(45
)
 
—

 
 
(29
)
 
11

 
(76
)
 
59

Benefit plans: actuarial gains/(losses), net
 
(13
)
 
22

 
25

 
22

Reclassification adjustments related to amortization
 
14

 
43

 
28

 
92

Reclassification adjustments related to settlements, net
 
7

 
(4
)
 
15

 
8

Reclassification adjustments of certain tax effects from AOCI to Retained earnings(b)
 
—

 
—

 
637

 
—

Other
 
27

 
(17
)
 
6

 
(13
)
 
 
34

 
43

 
712

 
110

Benefit plans: prior service costs and other, net
 
—

 
—

 
—

 
—

Reclassification adjustments related to amortization
 
(11
)
 
(17
)
 
(22
)
 
(33
)
Reclassification adjustments related to curtailments, net
 
4

 
(1
)
 
(3
)
 
(4
)
Reclassification adjustments of certain tax effects from AOCI to Retained earnings(b)
 
—

 
—

 
(144
)
 
—

Other
 
(6
)
 
—

 
—

 
—

 
 
(13
)
 
(19
)
 
(168
)
 
(38
)
Tax provision/(benefit) on other comprehensive income/(loss)
 
$
173

 
$
(163
)
 
$
605

 
$
(138
)

(a) 
Taxes are not provided for foreign currency translation adjustments relating to investments in international subsidiaries that will be held indefinitely.
(b) 
For additional information on the adoption of a new accounting standard related to reclassification of certain tax effects from AOCI, see Note 1B.
(c) 
For additional information on the adoption of a new accounting standard related to financial assets and liabilities, see Note 1B.