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STOCKHOLDERS' EQUITY (Tables) | 9 Months Ended
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Sep. 24, 2023
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, 2022 |  | $ | (7,866) |  |  | $ | (157) |  |  | $ | (8,023) |
Other comprehensive income (loss) before reclassifications |  | — |  |  | (41) |  |  | (41) |
Amounts reclassified from AOCL |  |  |  |  |  |
Amortization of net actuarial losses (b) |  | 88 |  |  | — |  |  | 88 |
Amortization of net prior service credits (b) |  | (199) |  |  | — |  |  | (199) |
Other |  | — |  |  | 29 |  |  | 29 |
Total reclassified from AOCL |  | (111) |  |  | 29 |  |  | (82) |
Total other comprehensive (loss) income |  | (111) |  |  | (12) |  |  | (123) |
Balance at September 24, 2023 |  | $ | (7,977) |  |  | $ | (169) |  |  | $ | (8,146) |
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 (a) |  | 1,156 |  |  | — |  |  | 1,156 |
Amortization of net actuarial losses (b) |  | 295 |  |  | — |  |  | 295 |
Amortization of net prior service credits (b) |  | (202) |  |  | — |  |  | (202) |
Other |  | — |  |  | 17 |  |  | 17 |
Total reclassified from AOCL |  | 1,249 |  |  | 17 |  |  | 1,266 |
Total other comprehensive income (loss) |  | 3,109 |  |  | (237) |  |  | 2,872 |
Balance at September 25, 2022 |  | $ | (7,855) |  |  | $ | (279) |  |  | $ | (8,134) |
(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 $4.3 billion of our gross defined benefit pension obligations and related plan assets to an insurance company on June 24, 2022. See “Note 6 - Postretirement Benefit Plans.” Also as a result, during the quarter ended June 26, 2022, we recognized a noncash, non-operating pension settlement charge of $1.5 billion ($1.2 billion, or $4.33 per share, after-tax). (b)These amounts include $(37) million and $(2) million, net of tax, for the quarters ended September 24, 2023 and September 25, 2022, which are comprised of the amortization of net actuarial losses of $30 million and $65 million for the quarters ended September 24, 2023 and September 25, 2022, and net prior service credits of $67 million in both the quarters ended September 24, 2023 and September 25, 2022.

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