Income Taxes (Tables)

3 Months Ended

Mar. 29, 2025

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The provision for income taxes in the accompanying statements of income differs from the provision calculated by applying the statutory federal income tax rate to income before provision for income taxes due to the following:

	Three months ended
(In millions)	March 29, 2025			March 30, 2024
Statutory federal income tax rate	21		%	21		%
Provision for income taxes at statutory rate	$	340		$	334
Increases (decreases) resulting from:
Foreign rate differential	(30)			(38)
Income tax credits	(45)			(89)
Global intangible low-taxed income	10			12
Foreign-derived intangible income	(27)			(22)
Excess tax benefits from stock options and restricted stock units	(10)			(33)
Provision for (reversal of) tax reserves, net	(28)			185
Intra-entity transfers	—			(102)
Domestication transaction	(125)			—
Provision for (reversal of) valuation allowances, net	(12)			47
Withholding taxes	3			4
Tax return reassessments and settlements	3			(29)
State income taxes, net of federal tax	14			19
Other, net	2			(6)
Provision for/(benefit from) income taxes	$	95		$	281

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:

(In millions)	2025
Balance at beginning of year	$	525
Additions for tax positions of current year	8
Reductions for tax positions of prior years	(8)
Balance at end of period	$	525