Comprehensive Income and Shareholders' Equity

9 Months Ended

Oct. 01, 2022

Stockholders' Equity Note [Abstract]

Comprehensive Income and Shareholders' Equity

Note 9.    Comprehensive Income and Shareholders' Equity

Comprehensive Income (Loss)

Changes in each component of accumulated other comprehensive items, net of tax, are as follows:

(In millions)	Currency translation adjustment		Unrealized losses on hedging instruments		Pension and other postretirement benefit liability adjustment		Total
Balance at December 31, 2021	$	(2,065)	$	(35)	$	(229)	$	(2,329)
Other comprehensive items before reclassifications	(632)		—		13		(619)
Amounts reclassified from accumulated other comprehensive items	10		2		8		20
Net other comprehensive items	(622)		2		21		(599)
Balance at October 1, 2022	$	(2,687)	$	(33)	$	(208)	$	(2,928)

Shareholders’ Equity

In the fourth quarter of 2022, the company repurchased $1.00 billion of the company’s common stock (2.0 million shares).