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Hedging Transactions And Derivative Financial Instruments (Tables) | 9 Months Ended
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Oct. 01, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Instruments, Gain (Loss) | The following table summarizes the notional values as of October 1, 2021 and October 2, 2020 and pretax impact of changes in the fair values of instruments designated as net investment hedges and cash flow hedges in accumulated other comprehensive income (“OCI”) for the three and nine-month periods ended October 1, 2021 and October 2, 2020 ($ in millions):
| Original Notional Amount |  | Notional Amount Outstanding |  | Gain (Loss) Recognized in OCI |  | Amounts Reclassified from OCI
For the Three-Month Period Ended October 1, 2021: |  |  |  |  |  |  |
Net investment hedges: |  |  |  |  |  |  |
Foreign currency contracts | $ | 2,875 |  |  | $ | 2,000 |  |  | $ | 34 |  |  | $ | — |
Foreign currency denominated debt | 4,864 |  |  | 4,864 |  |  | 52 |  |  | — |
Cash flow hedges: |  |  |  |  |  |  |
Foreign currency contracts | 4,000 |  |  | 4,000 |  |  | 87 |  |  | (90) |
Interest rate swaps | 850 |  |  | — |  |  | — |  |  | 1 |
Total | $ | 12,589 |  |  | $ | 10,864 |  |  | $ | 173 |  |  | $ | (89) |
For the Three-Month Period Ended October 2, 2020: |  |  |  |  |  |  |
Net investment hedges: |  |  |  |  |  |  |
Foreign currency contracts: | $ | 2,875 |  |  | $ | 2,000 |  |  | $ | (57) |  |  | $ | — |
Foreign currency denominated debt | 6,619 |  |  | 6,619 |  |  | (209) |  |  | — |
Cash flow hedges: |  |  |  |  |  |  |
Foreign currency contracts | 4,000 |  |  | 4,000 |  |  | (305) |  |  | 166
Interest rate swaps | 850 |  |  | — |  |  | — |  |  | 1
Total | $ | 14,344 |  |  | $ | 12,619 |  |  | $ | (571) |  |  | $ | 167 |
For the Nine-Month Period Ended October 1, 2021: |  |  |  |  |  |  |
Net investment hedges: |  |  |  |  |  |  |
Foreign currency contracts | $ | 2,875 |  |  | $ | 2,000 |  |  | $ | 100 |  |  | $ | — |
Foreign currency denominated debt | 4,864 |  |  | 4,864 |  |  | 236 |  |  | — |
Cash flow hedges: |  |  |  |  |  |  |
Foreign currency contracts | 4,000 |  |  | 4,000 |  |  | 389 |  |  | (207) |
Interest rate swaps | 850 |  |  | — |  |  | — |  |  | 2 |
Total | $ | 12,589 |  |  | $ | 10,864 |  |  | $ | 725 |  |  | $ | (205) |
For the Nine-Month Period Ended October 2, 2020: |  |  |  |  |  |  |
Net investment hedges: |  |  |  |  |  |  |
Foreign currency contracts: | $ | 2,875 |  |  | $ | 2,000 |  |  | $ | 10 |  |  | $ | — |
Foreign currency denominated debt | 6,619 |  |  | 6,619 |  |  | (242) |  |  | — |
Cash flow hedges: |  |  |  |  |  |  |
Foreign currency contracts | 4,000 |  |  | 4,000 |  |  | (8) |  |  | 182 |
Interest rate swaps | 850 |  |  | — |  |  | — |  |  | 2 |
Total | $ | 14,344 |  |  | $ | 12,619 |  |  | $ | (240) |  |  | $ | 184 |
Schedule of Notional Amounts of Outstanding Derivative Positions | The following table summarizes the notional values as of October 1, 2021 and October 2, 2020 and pretax impact of changes in the fair values of instruments designated as net investment hedges and cash flow hedges in accumulated other comprehensive income (“OCI”) for the three and nine-month periods ended October 1, 2021 and October 2, 2020 ($ in millions):
| Original Notional Amount |  | Notional Amount Outstanding |  | Gain (Loss) Recognized in OCI |  | Amounts Reclassified from OCI
For the Three-Month Period Ended October 1, 2021: |  |  |  |  |  |  |
Net investment hedges: |  |  |  |  |  |  |
Foreign currency contracts | $ | 2,875 |  |  | $ | 2,000 |  |  | $ | 34 |  |  | $ | — |
Foreign currency denominated debt | 4,864 |  |  | 4,864 |  |  | 52 |  |  | — |
Cash flow hedges: |  |  |  |  |  |  |
Foreign currency contracts | 4,000 |  |  | 4,000 |  |  | 87 |  |  | (90) |
Interest rate swaps | 850 |  |  | — |  |  | — |  |  | 1 |
Total | $ | 12,589 |  |  | $ | 10,864 |  |  | $ | 173 |  |  | $ | (89) |
For the Three-Month Period Ended October 2, 2020: |  |  |  |  |  |  |
Net investment hedges: |  |  |  |  |  |  |
Foreign currency contracts: | $ | 2,875 |  |  | $ | 2,000 |  |  | $ | (57) |  |  | $ | — |
Foreign currency denominated debt | 6,619 |  |  | 6,619 |  |  | (209) |  |  | — |
Cash flow hedges: |  |  |  |  |  |  |
Foreign currency contracts | 4,000 |  |  | 4,000 |  |  | (305) |  |  | 166
Interest rate swaps | 850 |  |  | — |  |  | — |  |  | 1
Total | $ | 14,344 |  |  | $ | 12,619 |  |  | $ | (571) |  |  | $ | 167 |
For the Nine-Month Period Ended October 1, 2021: |  |  |  |  |  |  |
Net investment hedges: |  |  |  |  |  |  |
Foreign currency contracts | $ | 2,875 |  |  | $ | 2,000 |  |  | $ | 100 |  |  | $ | — |
Foreign currency denominated debt | 4,864 |  |  | 4,864 |  |  | 236 |  |  | — |
Cash flow hedges: |  |  |  |  |  |  |
Foreign currency contracts | 4,000 |  |  | 4,000 |  |  | 389 |  |  | (207) |
Interest rate swaps | 850 |  |  | — |  |  | — |  |  | 2 |
Total | $ | 12,589 |  |  | $ | 10,864 |  |  | $ | 725 |  |  | $ | (205) |
For the Nine-Month Period Ended October 2, 2020: |  |  |  |  |  |  |
Net investment hedges: |  |  |  |  |  |  |
Foreign currency contracts: | $ | 2,875 |  |  | $ | 2,000 |  |  | $ | 10 |  |  | $ | — |
Foreign currency denominated debt | 6,619 |  |  | 6,619 |  |  | (242) |  |  | — |
Cash flow hedges: |  |  |  |  |  |  |
Foreign currency contracts | 4,000 |  |  | 4,000 |  |  | (8) |  |  | 182 |
Interest rate swaps | 850 |  |  | — |  |  | — |  |  | 2 |
Total | $ | 14,344 |  |  | $ | 12,619 |  |  | $ | (240) |  |  | $ | 184 |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The Company’s derivative instruments, as well as its nonderivative debt instruments designated and qualifying as net investment hedges, were classified in the Company’s Consolidated Condensed Balance Sheets as follows ($ in millions):
| October 1, 2021 |  | December 31, 2020
Derivative liabilities: |  |  |
Accrued expenses and other liabilities | $ | 133 |  |  | $ | 622 |
Nonderivative hedging instruments: |  |  |
Long-term debt | 4,864 |  |  | 4,573 |

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