OTHER COMPREHENSIVE INCOME

9 Months Ended

Mar. 28, 2026

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 $373 million and $542 million for

the third quarter of fiscal 2026 and fiscal 2025, respectively. Comprehensive income was $1.2 billion and $1.4 billion for the

first 39 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 Mar. 28, 2026
	Location of Expense (Income) Recognized in Net Earnings	Before Tax Amount	Tax	Net of Tax Amount
		(In millions)
Foreign currency translation:
Foreign currency translation adjustment	N/A	$(62)	$—	$(62)
Hedging instruments:
Other comprehensive income (loss) before reclassification adjustments:
Change in cash flow hedges	Operating expenses	83	21	62
Change in net investment hedges	N/A	36	9	27
Total other comprehensive income before reclassification adjustments		119	30	89
Reclassification adjustments:
Amortization of cash flow hedges	Interest expense	1	—	1
Reclassification adjustments:
Amortization of actuarial loss, net	Other expense (income), net	8	2	6
Total reclassification adjustments		8	2	6
Marketable securities:
Change in marketable securities	Other expense (income), net	(1)	—	(1)
Total other comprehensive income (loss)		$65	$32	$33


		13-Week Period Ended Mar. 29, 2025
	Location of Expense (Income) Recognized in Net Earnings	Before Tax Amount	Tax	Net of Tax Amount
		(In millions)
Foreign currency translation:
Foreign currency translation adjustment	N/A	$136	$—	$136
Hedging instruments:
Other comprehensive income (loss) before reclassification adjustments:
Change in cash flow hedges	Operating expenses	4	1	3
Change in net investment hedges	N/A	(8)	(2)	(6)
Total other comprehensive income before reclassification adjustments		(4)	(1)	(3)
Reclassification adjustments:
Amortization of cash flow hedges	Interest expense	1	—	1
Pension and other postretirement benefit plans:
Reclassification adjustments:
Amortization of actuarial loss, net	Other expense (income), net	7	2	5
Total reclassification adjustments		7	2	5
Marketable securities:
Change in marketable securities	N/A	2	—	2
Total other comprehensive income (loss)		$142	$1	$141


		39-Week Period Ended Mar. 28, 2026
	Location of Expense (Income) Recognized in Net Earnings	Before Tax Amount	Tax	Net of Tax Amount
		(In millions)
Foreign currency translation:
Foreign currency translation adjustment	N/A	$(74)	$—	$(74)
Hedging instruments:
Other comprehensive income (loss) before reclassification adjustments:
Change in cash flow hedges	Operating expenses	81	20	61
Change in net investment hedges	N/A	43	11	32
Total other comprehensive (loss) before reclassification adjustments		124	31	93
Reclassification adjustments:
Amortization of cash flow hedges	Interest expense	3	—	3
Pension and other postretirement benefit plans:
Other comprehensive income before reclassification adjustments:
Net actuarial gain arising in the current year		5	1	4
Reclassification adjustments:
Amortization of actuarial loss, net	Other expense (income), net	23	6	17
Total reclassification adjustments		23	6	17
Total other comprehensive income (loss)		$81	$38	$43


		39-Week Period Ended Mar. 29, 2025
	Location of Expense (Income) Recognized in Net Earnings	Before Tax Amount	Tax	Net of Tax Amount
		(In millions)
Foreign currency translation:
Foreign currency translation adjustment	N/A	$49	$—	$49
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 hedges	Operating expense	(9)	(4)	(5)
Change in net investment hedges	N/A	(4)	(1)	(3)
Total other comprehensive (loss) before reclassification adjustments		(15)	(5)	(10)
Reclassification adjustments:
Amortization of cash flow hedges	Interest expense	5	1	4
Pension and other postretirement benefit plans:
Other comprehensive income before reclassification adjustments:
Net actuarial gain arising in the current year		31	8	23
Reclassification adjustments:
Amortization of actuarial loss, net	Other expense (income), net	21	6	15
Total reclassification adjustments		21	6	15
Marketable securities:
Change in marketable securities	N/A	3	—	3
Total other comprehensive income (loss)		$94	$10	$84

The following tables provide a summary of the changes in accumulated other comprehensive (loss) income for the

periods presented:


	13-Week Period Ended Mar. 28, 2026
	Foreign Currency Translation	Hedging, net of tax	Pension and Other Postretirement Benefit Plans, net of tax	Marketable Securities, net of tax	Total
	(In millions)
Balance as of Dec. 27, 2025	$(132)	$(53)	$(903)	$—	$(1,088)
Equity adjustment from foreign currency translation	(62)	—	—	—	(62)
Amortization of cash flow hedges	—	1	—	—	1
Change in net investment hedges	—	27	—	—	27
Change in cash flow hedges	—	62	—	—	62
Amortization of unrecognized net actuarial losses	—	—	6	—	6
Change in marketable securities	—	—	—	(1)	(1)
Balance as of Mar. 28, 2026	$(194)	$37	$(897)	$(1)	$(1,055)


	13-Week Period Ended Mar. 29, 2025
	Foreign Currency Translation	Hedging, net of tax	Pension and Other Postretirement Benefit Plans, net of tax	Marketable Securities, net of tax	Total
	(In millions)
Balance as of Dec. 28, 2024	$(494)	$(14)	$(884)	$(4)	$(1,396)
Equity adjustment from foreign currency translation	136	—	—	—	136
Amortization of cash flow hedges	—	1	—	—	1
Change in net investment hedges	—	(6)	—	—	(6)
Change in cash flow hedges	—	3	—	—	3
Amortization of unrecognized net actuarial losses	—	—	5	—	5
Change in marketable securities	—	—	—	2	2
Balance as of Mar. 29, 2025	$(358)	$(16)	$(879)	$(2)	$(1,255)



	39-Week Period Ended Mar. 28, 2026
	Foreign Currency Translation	Hedging, 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	(74)	—	—	—	(74)
Amortization of cash flow hedges	—	3	—	—	3
Change in net investment hedges	—	32	—	—	32
Change in cash flow hedges	—	61	—	—	61
Amortization of unrecognized net actuarial losses	—	—	17	—	17
Net actuarial loss arising in the current year	—	—	4	—	4
Balance as of Mar. 28, 2026	$(194)	$37	$(897)	$(1)	$(1,055)


	39-Week Period Ended Mar. 29, 2025
	Foreign Currency Translation	Hedging, net of tax	Pension and Other Postretirement Benefit Plans, net of tax	Marketable Securities, net of tax	Total
	(In millions)
Balance as of Jun. 29, 2024	$(407)	$(10)	$(917)	$(5)	$(1,339)
Equity adjustment from foreign currency translation	49	—	—	—	49
Amortization of cash flow hedges	—	4	—	—	4
Change in net investment hedges	—	(3)	—	—	(3)
Change in cash flow hedges	—	(5)	—	—	(5)
Change in excluded component of fair value hedge	—	(2)	—	—	(2)
Amortization of unrecognized net actuarial losses	—	—	15	—	15
Net actuarial gain arising in the current year	—	—	23	—	23
Change in marketable securities	—	—	—	3	3
Balance as of Mar. 29, 2025	$(358)	$(16)	$(879)	$(2)	$(1,255)