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v3.25.1

Stockholders' Equity and Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 28, 2025
Share-Based Payment Arrangement [Abstract] |
Summary of Share Activity | The following table summarizes the Company’s share activity (shares in millions):
| Three-Month Period Ended |  |
| March 28, 2025 |  | March 29, 2024 |  |  |  |
Common stock - shares issued: |  |  |  |  |  |  |
Balance, beginning of period | 884.3 |  |  | 880.5 |  |  |  |  |
Common stock-based compensation awards | 1.3 |  |  | 1.8 |  |  |  |  |
Balance, end of period | 885.6 |  |  | 882.3 |  |  |  |  |
Components of Stock-Based Compensation Program | The following summarizes the components of the Company’s stock-based compensation expense ($ in millions):
| Three-Month Period Ended |  |
| March 28, 2025 |  | March 29, 2024 |  |  |  |
RSUs/PSUs: |  |  |  |  |  |  |
Pretax compensation expense | $ | 35 |  |  | $ | 32 |  |  |  |  |
Income tax benefit | (7) |  |  | (6) |  |  |  |  |
RSU/PSU expense, net of income taxes | 28 |  |  | 26 |  |  |  |  |
Stock options: |  |  |  |  |  |  |
Pretax compensation expense | 26 |  |  | 28 |  |  |  |  |
Income tax benefit | (5) |  |  | (6) |  |  |  |  |
Stock option expense, net of income taxes | 21 |  |  | 22 |  |  |  |  |
Total stock-based compensation: |  |  |  |  |  |  |
Pretax compensation expense | 61 |  |  | 60 |  |  |  |  |
Income tax benefit | (12) |  |  | (12) |  |  |  |  |
Total stock-based compensation expense, net of income taxes | $ | 49 |  |  | $ | 48 |  |  |  |  |
Components of Accumulated Other Comprehensive Income (Loss) | The changes in accumulated OCI by component are summarized below ($ in millions).
| Foreign Currency Translation Adjustments |  | Pension and Postretirement Plan Benefit Adjustments |  |  |  | Cash Flow Hedge Adjustments |  | Accumulated Comprehensive Income (Loss)
For the Three-Month Period Ended March 28, 2025: |  |  |  |  |  |  |  |  |
Balance, December 31, 2024 | $ | (2,904) |  |  | $ | (300) |  |  |  |  | $ | (14) |  |  | $ | (3,218) |
OCI before reclassifications: |  |  |  |  |  |  |  |  |
Increase (decrease) | 1,436 |  |  | — |  |  |  |  | 39 |  |  | 1,475 |
Income tax impact | 13 |  |  | — |  |  |  |  | — |  |  | 13 |
OCI before reclassifications, net of income taxes | 1,449 |  |  | — |  |  |  |  | 39 |  |  | 1,488 |
Reclassification adjustments: |  |  |  |  |  |  |  |  |
Increase (decrease) | — |  |  | 2 |  | (a) |  |  | 117 |  | (b) | 119 |
Income tax impact | — |  |  | (1) |  |  |  |  | — |  |  | (1) |
Reclassification adjustments, net of income taxes | — |  |  | 1 |  |  |  |  | 117 |  |  | 118 |
Net OCI, net of income taxes | 1,449 |  |  | 1 |  |  |  |  | 156 |  |  | 1,606 |
Balance, March 28, 2025 | $ | (1,455) |  |  | $ | (299) |  |  |  |  | $ | 142 |  |  | $ | (1,612) |
For the Three-Month Period Ended March 29, 2024: |  |  |  |  |  |  |  |  |
Balance, December 31, 2023 | $ | (1,446) |  |  | $ | (401) |  |  |  |  | $ | 99 |  |  | $ | (1,748) |
OCI before reclassifications: |  |  |  |  |  |  |  |  |
Increase (decrease) | (935) |  |  | — |  |  |  |  | 23 |  |  | (912) |
Income tax impact | (13) |  |  | — |  |  |  |  | — |  |  | (13) |
OCI before reclassifications, net of income taxes | (948) |  |  | — |  |  |  |  | 23 |  |  | (925) |
Reclassification adjustments: |  |  |  |  |  |  |  |  |
Increase (decrease) | — |  |  | 3 |  | (a) |  |  | (73) |  | (b) | (70) |
Income tax impact | — |  |  | (1) |  |  |  |  | — |  |  | (1) |
Reclassification adjustments, net of income taxes | — |  |  | 2 |  |  |  |  | (73) |  |  | (71) |
Net OCI, net of income taxes | (948) |  |  | 2 |  |  |  |  | (50) |  |  | (996) |
Balance, March 29, 2024 | $ | (2,394) |  |  | $ | (399) |  |  |  |  | $ | 49 |  |  | $ | (2,744) |
(a) This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost (refer to Note 7 for additional details). (b) Reflects reclassification to earnings related to cash flow hedges of certain long-term debt (refer to Note 11 for additional details).

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