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OTHER COMPREHENSIVE INCOME
6 Months Ended
Dec. 27, 2025
Other Comprehensive Income (Loss), Net of Tax [Abstract]  
OTHER COMPREHENSIVE INCOME OTHER COMPREHENSIVE INCOME
Comprehensive income is net earnings plus certain other items that are recorded directly to shareholders’ equity, such as foreign currency translation adjustment, amounts related to certain hedging arrangements, amounts related to pension and other postretirement plans and changes in marketable securities. Comprehensive income was $430 million and $176 million for the second quarter of fiscal 2026 and fiscal 2025, respectively. Comprehensive income was $876 million and $839 million for the first 26 weeks of fiscal 2026 and 2025, respectively.

A summary of the components of other comprehensive income (loss) and the related tax effects for each of the periods presented is as follows:
  13-Week Period Ended Dec. 27, 2025
 Location of
Expense (Income) Recognized in
Net Earnings
Before Tax
Amount
TaxNet of Tax
Amount
  (In millions)
Foreign currency translation:
Foreign currency translation adjustmentN/A$53 $— $53 
Hedging instruments:
Other comprehensive income (loss) before reclassification adjustments:
Change in cash flow hedges
Operating expenses
(15)(4)(11)
Change in net investment hedges N/A(11)(3)(8)
Total other comprehensive income before reclassification adjustments(26)(7)(19)
Reclassification adjustments:    
Amortization of cash flow hedgesInterest expense— 
Reclassification adjustments:    
Amortization of actuarial loss, netOther expense (income), net
Total reclassification adjustments
Total other comprehensive income (loss)$36 $(5)$41 
  13-Week Period Ended Dec. 28, 2024
 Location of
Expense (Income) Recognized in
Net Earnings
Before Tax
Amount
TaxNet of Tax
Amount
  (In millions)
Foreign currency translation:
Foreign currency translation adjustmentN/A$(257)$— $(257)
Currency translation adjustment as a result of
    disposition of a foreign subsidiary
Operating expense— 
Hedging instruments:
Other comprehensive income (loss) before reclassification adjustments:
Change in excluded component of fair value
  hedge
Other expense (income), net(2)— (2)
Change in cash flow hedgesOperating expenses
Change in net investment hedgesN/A22 16 
Total other comprehensive income before reclassification adjustments27 20 
Reclassification adjustments:
Amortization of cash flow hedgesInterest expense— 
Pension and other postretirement benefit plans:    
Reclassification adjustments:    
Amortization of actuarial loss, netOther expense (income), net
Total reclassification adjustments
Marketable securities:
Change in marketable securitiesN/A(3)(1)(2)
Total other comprehensive income (loss)$(222)$$(230)
  26-Week Period Ended Dec. 27, 2025
 Location of
Expense (Income) Recognized in
Net Earnings
Before Tax
Amount
TaxNet of Tax
Amount
  (In millions)
Foreign currency translation:
Foreign currency translation adjustmentN/A$(12)$— $(12)
Hedging instruments:
Other comprehensive income (loss) before reclassification adjustments:
Change in cash flow hedgesOperating expenses(2)(1)(1)
Change in net investment hedges N/A
Total other comprehensive (loss) before reclassification adjustments
Reclassification adjustments:
Amortization of cash flow hedgesInterest expense— 
Pension and other postretirement benefit plans:
Other comprehensive income before reclassification adjustments:
Net actuarial gain arising in the current year
Reclassification adjustments:
Amortization of actuarial loss, netOther expense (income), net15 11 
Total reclassification adjustments15 11 
Marketable securities:
Change in marketable securitiesOther expense (income), net— 
Total other comprehensive income (loss)$16 $$10 
  26-Week Period Ended Dec. 28, 2024
 Location of
Expense (Income) Recognized in
Net Earnings
Before Tax
Amount
TaxNet of Tax
Amount
  (In millions)
Foreign currency translation:
Foreign currency translation adjustmentN/A$(89)$— $(89)
Currency translation adjustment as a result of
    disposition of a foreign subsidiary
Operating expense— 
Hedging instruments:
Other comprehensive income (loss) before reclassification adjustments:
Change in excluded component of fair value
  hedge
Other expense (income), net(2)— (2)
Change in cash flow hedgesOperating expense(13)(5)(8)
Change in net investment hedgesN/A
Total other comprehensive (loss) before reclassification adjustments(11)(4)(7)
Reclassification adjustments:
Amortization of cash flow hedgesInterest expense
Pension and other postretirement benefit plans:
Other comprehensive income before reclassification adjustments:
Net actuarial gain arising in the current year31 23 
Reclassification adjustments:
Amortization of actuarial loss, netOther expense (income), net14 10 
Total reclassification adjustments14 10 
Marketable securities:
Change in marketable securitiesN/A— 
Total other comprehensive income (loss)$(48)$$(57)
The following tables provide a summary of the changes in accumulated other comprehensive (loss) income for the periods presented:

 13-Week Period Ended Dec. 27, 2025
 Foreign Currency TranslationHedging,
net of tax
Pension and Other Postretirement Benefit Plans,
net of tax
Marketable Securities, net of taxTotal
 (In millions)
Balance as of Sep. 27, 2025$(185)$(35)$(909)$— $(1,129)
Equity adjustment from foreign currency translation53 — — — 53 
Amortization of cash flow hedges— — — 
Change in net investment hedges— (8)— — (8)
Change in cash flow hedges— (11)— — (11)
Amortization of unrecognized net actuarial losses— — — 
Balance as of Dec. 27, 2025$(132)$(53)$(903)$— $(1,088)


 13-Week Period Ended Dec. 28, 2024
 Foreign Currency TranslationHedging,
net of tax
Pension and Other Postretirement Benefit Plans,
net of tax
Marketable Securities, net of taxTotal
 (In millions)
Balance as of Sep. 28, 2024
$(239)$(36)$(889)$(2)$(1,166)
Equity adjustment from foreign currency translation(257)— — — (257)
Currency translation adjustment as a result of disposition of a foreign subsidiary
— — — 
Amortization of cash flow hedges— — — 
Change in net investment hedges— 16 — — 16 
Change in cash flow hedges— — — 
Change in excluded component of fair value hedge
— (2)— — (2)
Amortization of unrecognized net actuarial losses— — — 
Change in marketable securities— — — (2)(2)
Balance as of Dec. 28, 2024
$(494)$(14)$(884)$(4)$(1,396)
 26-Week Period Ended Dec. 27, 2025
 Foreign Currency TranslationHedging,
net of tax
Pension and Other Postretirement Benefit Plans,
net of tax
Marketable Securities,
net of tax
Total
 (In millions)
Balance as of Jun. 28, 2025$(120)$(59)$(918)$(1)$(1,098)
Equity adjustment from foreign currency translation(12)— — — (12)
Amortization of cash flow hedges— — — 
Change in net investment hedges— — — 
Change in cash flow hedges— (1)— — (1)
Amortization of unrecognized net actuarial losses— — 11 — 11 
Net actuarial loss arising in the current year— — — 
Change in marketable securities— — — 
Balance as of Dec. 27, 2025$(132)$(53)$(903)$— $(1,088)


 26-Week Period Ended Dec. 28, 2024
 Foreign Currency TranslationHedging,
net of tax
Pension and Other Postretirement Benefit Plans,
net of tax
Marketable Securities, net of taxTotal
 (In millions)
Balance as of Jun. 29, 2024$(407)$(10)$(917)$(5)$(1,339)
Equity adjustment from foreign currency translation(89)— — — (89)
Currency translation adjustment as a result of disposition of a foreign subsidiary— — — 
Amortization of cash flow hedges— — — 
Change in net investment hedges— — — 
Change in cash flow hedges— (8)— — (8)
Change in excluded component of fair value hedge
— (2)— — (2)
Amortization of unrecognized net actuarial losses— — 10 — 10 
Net actuarial gain arising in the current year— — 23 — 23 
Change in marketable securities— — — 
Balance as of Dec. 28, 2024$(494)$(14)$(884)$(4)$(1,396)