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Other Income (Expense), Net | 3 Months Ended
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Apr. 02, 2021
Other Income and Expenses [Abstract] |
Other Income (Expense), Net | OTHER INCOME (EXPENSE), NET
| Three-Month Period Ended |  |
| April 2, 2021 |  | April 3, 2020 |  |  |  |
Other components of net periodic benefit costs | $ | 11 |  |  | $ | 5 |  |  |  |  |
Investment gains/(losses) | 116 |  |  | (7) |  |  |  |  |
Gain on sale of product lines | 13 |  |  | — |  |  |  |  |
Total other income (expense), net | $ | 140 |  |  | $ | (2) |  |  |  |  |
Other Components of Net Periodic Benefit Costs The Company disaggregates the service cost component of net periodic benefit costs of the noncontributory defined benefit pension plans and other postretirement employee benefit plans and presents the other components of net periodic benefit cost in other income (expense), net. These other components include the assumed rate of return on plan assets, partially offset by amortization of actuarial losses and interest and aggregated to a gain of $11 million for the three-month period ended April 2, 2021 compared to a gain of $5 million for the three-month period ended April 3, 2020. Investment Gains/(Losses) The Company estimates the fair value of investments in equity securities using the Fair Value Alternative and records adjustments to fair value within net earnings. Additionally, the Company is a limited partner in partnerships that invest primarily in early stage companies. While the partnerships record these investments at fair value, the Company’s investments in the partnerships are accounted for under the equity method of accounting. During the three-month periods ended April 2, 2021 and April 3, 2020, the Company recorded realized and unrealized gains of $116 million (consisting of $27 million realized gains and $89 million unrealized gains) and unrealized losses of $7 million, respectively, related to changes in the fair value of these investments and the equity in earnings of the partnerships. The gains were triggered by initial public offerings and other observable price changes in the investments, as well as the acquisition by the Company of one of the early stage companies. Gain on Sale of Product Lines During the first quarter of 2021, the Company divested certain product lines for a cash purchase price, net of cash transferred and transaction costs, of $26 million and recognized a pretax gain on sale of $13 million ($10 million after-tax). The divested product lines generated revenues in the Environmental & Applied Solutions segment of approximately $88 million in 2020. The divestiture of these product lines did not represent a strategic shift with a major effect on the Company’s operations and financial results and therefore is not reported as a discontinued operation.

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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 720 -URI http://asc.fasb.org/topic&trid=2122503 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 610 -URI http://asc.fasb.org/topic&trid=49130413 + Details
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