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STOCKHOLDERS' EQUITY
 9 Months Ended
Sep. 25, 2022
Equity [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS’ EQUITY
Repurchases of Common Stock
During the nine months ended September 25, 2022, we repurchased 11.1 million shares of our common stock for $3.8 billion, including pursuant to accelerated share repurchase (ASR) agreements and open market purchases. As previously disclosed, in January 2022, we received 2.2 million shares of our common stock for no additional consideration upon final settlement of the ASR we entered into in the fourth quarter of 2021. In addition, we repurchased 4.7 million shares for $2.0 billion under an ASR agreement that we entered into in the first quarter of 2022. Some of the shares repurchased during the third quarter of 2022 were settled subsequent to the end of the quarter.
The total remaining authorization for future common share repurchases under our share repurchase program was $117 million as of September 25, 2022. On October 17, 2022, the Board of Directors authorized an increase to the program by $14 billion. As we repurchase our common shares, we reduce common stock for the $1 of par value of the shares repurchased, with the excess purchase price over par value recorded as a reduction of additional paid-in capital. If additional paid-in capital is reduced to zero, we record the remainder of the excess purchase price over par value as a reduction of retained earnings.
Dividends
We declared cash dividends totaling $2.2 billion ($8.40 per share) during the nine months ended September 25, 2022. Subsequent to the third quarter of 2022, on September 30, 2022, the company authorized a fourth quarter dividend payment of $3.00 per share, representing an increase of $0.20 per share. The total amount declared may differ from the total amount of dividends paid during a period due to the timing of dividend-equivalents paid on RSUs and PSUs. These dividend-equivalents are accrued during the vesting period and are paid upon the vesting of the RSUs and PSUs, which primarily occurs in the first quarter each year.
Accumulated Other Comprehensive Loss
Changes in the balance of AOCL, net of tax, consisted of the following (in millions):
Postretirement
Benefit Plans		Other, netAOCL
Balance at December 31, 2021$(10,964)$(42)$(11,006)
Other comprehensive income (loss) before reclassifications (a)
1,860 (254)1,606 
Amounts reclassified from AOCL
Pension settlement charge (b)
1,156 — 1,156 
Recognition of net actuarial losses (c)
295 — 295 
Amortization of net prior service credits (c)
(202)— (202)
Other— 17 17 
Total reclassified from AOCL1,249 17 1,266 
Total other comprehensive income (loss)3,109 (237)2,872 
Balance at September 25, 2022$(7,855)$(279)$(8,134)
Balance at December 31, 2020$(16,155)$34 $(16,121)
Other comprehensive income (loss) before reclassifications (a)
2,258 (55)2,203 
Amounts reclassified from AOCL
Pension settlement charge (b)
1,310 — 1,310 
Recognition of net actuarial losses (c)
579 — 579 
Amortization of net prior service credits (c)
(192)— (192)
Other— 4 4 
Total reclassified from AOCL1,697 4 1,701 
Total other comprehensive income (loss)3,955 (51)3,904 
Balance at September 26, 2021$(12,200)$(17)$(12,217)
(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 primarily as a result of the purchase of group annuity contracts to transfer $4.3 billion and $4.9 billion of our gross defined benefit pension obligations and related plan assets to an insurance company on June 24, 2022 and August 3, 2021.
(b)During the nine months ended September 25, 2022 and September 26, 2021, we recognized a noncash, non-operating pension settlement charge of $1.5 billion ($1.2 billion, or $4.33 per share, after-tax) and $1.7 billion ($1.3 billion, or $4.72 per share, after-tax). See “Note 6 - Postretirement Benefit Plans”.
(c)These amounts include $(2) million and $107 million, net of tax, for the quarters ended September 25, 2022 and September 26, 2021, which are comprised of the recognition of net actuarial losses of $65 million and $171 million for the quarters ended
September 25, 2022 and September 26, 2021, and the amortization of net prior service credits of $67 million and $64 million for the quarters ended September 25, 2022 and September 26, 2021.