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STOCKHOLDERS' EQUITY (Tables) | 9 Months Ended
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Sep. 26, 2021
Equity [Abstract] |
Schedule of Changes in the Balance of AOCL, Net of Tax | Changes in the balance of AOCL, net of tax, consisted of the following (in millions):
|  | Postretirement Benefit Plans |  | Other, net |  | AOCL
Balance at December 31, 2020 |  | $ | (16,155) |  |  | $ | 34 |  |  | $ | (16,121) |
Other comprehensive income (loss) before reclassifications (a) |  | 2,258 |  |  | (55) |  |  | 2,203 |
Amounts reclassified from AOCL |  |  |  |  |  |
Pension settlement charge (b) |  | 1,310 |  |  | — |  |  | 1,310 |
Recognition of net actuarial losses (c) |  | 579 |  |  | — |  |  | 579 |
Amortization of net prior service credits (c) |  | (192) |  |  | — |  |  | (192) |
Other |  | — |  |  | 4 |  |  | 4 |
Total reclassified from AOCL |  | 1,697 |  |  | 4 |  |  | 1,701 |
Total other comprehensive income (loss) |  | 3,955 |  |  | (51) |  |  | 3,904 |
Balance at September 26, 2021 |  | $ | (12,200) |  |  | $ | (17) |  |  | $ | (12,217) |
Balance at December 31, 2019 |  | $ | (15,528) |  |  | $ | (26) |  |  | $ | (15,554) |
Other comprehensive loss before reclassifications |  | — |  |  | (40) |  |  | (40) |
Amounts reclassified from AOCL |  |  |  |  |  |
Recognition of net actuarial losses (c) |  | 517 |  |  | — |  |  | 517 |
Amortization of net prior service credits (c) |  | (187) |  |  | — |  |  | (187) |
Other |  |  |  | 5 |  |  | 5 |
Total reclassified from AOCL |  | 330 |  |  | 5 |  |  | 335 |
Total other comprehensive income (loss) |  | 330 |  |  | (35) |  |  | 295 |
Balance at September 27, 2020 |  | $ | (15,198) |  |  | $ | (61) |  |  | $ | (15,259) |
(a)Changes in AOCL before reclassifications related to our postretirement benefit plans represent the net actuarial gains from the interim remeasurement of certain defined benefit pension plans required as a result of the purchase of group annuity contracts to transfer $4.9 billion of our gross defined benefit pension obligations and related plan assets to an insurance company on August 3, 2021. See “Note 7 - Postretirement Benefit Plans”. (b)During the quarter ended September 26, 2021, we recognized a noncash, non-operating pension settlement charge of $1.7 billion ($1.3 billion, or $4.72 per share, after-tax) in connection with the purchase of group annuity contracts to transfer $4.9 billion of our gross defined benefit pension obligations and related plan assets to an insurance company on August 3, 2021. See “Note 7 - Postretirement Benefit Plans”. (c)Reclassifications from AOCL related to our postretirement benefit plans were recorded as a component of FAS expense (income) for each period presented. See “Note 7 - Postretirement Benefit Plans”. These amounts include $107 million and $110 million, net of tax, for the quarters ended September 26, 2021 and September 27, 2020, which are comprised of the recognition of net actuarial losses of $171 million and $173 million for the quarters ended September 26, 2021 and September 27, 2020, and the amortization of net prior service credits of $64 million and $63 million for the quarters ended September 26, 2021 and September 27, 2020.

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