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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of Provision For Income Tax | The provisions for current and deferred income taxes are summarized as follows:
| Fiscal Years Ended |  | Two Quarters Ended |  | Fiscal Year Ended
(In millions) | December 31, 2021 |  | January 1, 2021 |  | January 3, 2020 |  | June 28, 2019
Current: |  |  |  |  |  |  |
United States | $ | 415 |  |  | $ | 337 |  |  | $ | 11 |  |  | $ | 105 |
International | 70 |  |  | 76 |  |  | 37 |  |  | 9 |
State and local | 65 |  |  | 45 |  |  | 16 |  |  | 8 |
| 550 |  |  | 458 |  |  | 64 |  |  | 122 |
Deferred: |  |  |  |  |  |  |
United States | (55) |  |  | (150) |  |  | 33 |  |  | 15 |
International | (34) |  |  | (73) |  |  | (15) |  |  | (3) |
State and local | (21) |  |  | (1) |  |  | (9) |  |  | 26 |
| (110) |  |  | (224) |  |  | 9 |  |  | 38 |
| $ | 440 |  |  | $ | 234 |  |  | $ | 73 |  |  | $ | 160 |
Schedule of Provision for Income Taxes | The total income tax provision is summarized as follows:
| Fiscal Years Ended |  | Two Quarters Ended |  | Fiscal Year Ended
(In millions) | December 31, 2021 |  | January 1, 2021 |  | January 3, 2020 |  | June 28, 2019
Continuing operations | $ | 440 |  |  | $ | 234 |  |  | $ | 73 |  |  | $ | 160 |
Discontinued operations | — |  |  | — |  |  | — |  |  | (1) |
Total income tax provision | $ | 440 |  |  | $ | 234 |  |  | $ | 73 |  |  | $ | 159 |
Schedule of Reconciliation of United States Statutory Income Tax Rate To Our Effective Income Tax Rate | A reconciliation of the U.S. statutory income tax rate to our effective income tax rate follows:
| Fiscal Years Ended |  | Two Quarters Ended |  | Fiscal Year Ended
| December 31, 2021 |  | January 1, 2021 |  | January 3, 2020 |  | June 28, 2019
U.S. statutory income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State taxes | 1.8 |  |  | 3.2 |  |  | 1.4 |  |  | 2.4 |
International income | 0.4 |  |  | 0.4 |  |  | 0.9 |  |  | (0.5) |
Non-deductible goodwill impairment | 0.6 |  |  | 5.8 |  |  | — |  |  | — |
Research and development tax credit | (5.9) |  |  | (9.2) |  |  | (4.7) |  |  | (4.5) |
Foreign derived intangibles income deduction | (1.4) |  |  | (1.3) |  |  | (0.8) |  |  | (1.3) |
Change in valuation allowance | 0.9 |  |  | 0.5 |  |  | (4.8) |  |  | (1.8) |
Impact of divestitures | 4.1 |  |  | — |  |  | — |  |  | — |
Equity-based compensation(1) | (1.1) |  |  | (1.0) |  |  | (5.4) |  |  | (2.1) |
Settlement of tax audits | (1.1) |  |  | (1.8) |  |  | — |  |  | — |
Other items | — |  |  | 0.1 |  |  | 0.4 |  |  | 1.2 |
Effective income tax rate | 19.3 | % |  | 17.7 | % |  | 8.0 | % |  | 14.4 | %
_______________ (1)Includes non-deductible equity-based compensation and excess tax benefits from equity-based compensation.
Schedule of Components of Deferred Income Tax Assets Liabilities | The components of deferred income tax assets (liabilities) were as follows:
(In millions) | December 31, 2021 |  | January 1, 2021 |  |
Deferred tax assets: |  |  |  |  |
Accruals | $ | 288 |  |  | $ | 315 |  |  |
Tax loss and credit carryforwards | 174 |  |  | 155 |  |  |
Pension and other post-employment benefits | 107 |  |  | 457 |  |  |
Operating lease obligation | 245 |  |  | 202 |  |  |
Other | 329 |  |  | 313 |  |  |
Valuation allowance(1) | (257) |  |  | (165) |  |  |
Deferred tax assets, net | 886 |  |  | 1,277 |  |  |
Deferred tax liabilities: |  |  |  |  |
Property, plant and equipment | (103) |  |  | (91) |  |  |
Acquired intangibles | (1,663) |  |  | (1,934) |  |  |
Operating lease right-of-use asset | (218) |  |  | (182) |  |  |
Other | (161) |  |  | (188) |  |  |
Deferred tax liabilities | (2,145) |  |  | (2,395) |  |  |
Net deferred tax assets (liabilities) | $ | (1,259) |  |  | $ | (1,118) |  |  |
_______________ (1)The valuation allowance has been established to offset certain domestic and foreign deferred tax assets due to uncertainty regarding our ability to realize them in the future. The net increase in our valuation allowance in fiscal 2021 was $92 million.
Schedule of Deferred Tax Assets, Net of Valuation Allowance | Net deferred tax assets (liabilities) were classified as follows in our Consolidated Balance Sheet:
(In millions) | December 31, 2021 |  | January 1, 2021 |  |
Non-current deferred income tax assets | $ | 85 |  |  | $ | 119 |  |  |
Non-current deferred income tax liabilities | (1,344) |  |  | (1,237) |  |  |
| $ | (1,259) |  |  | $ | (1,118) |  |  |
Schedule of Reconciliation of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:
| Fiscal Years Ended |  | Two Quarters Ended |  | Fiscal Year Ended
(In millions) | December 31, 2021 |  | January 1, 2021 |  | January 3, 2020 |  | June 28, 2019
Balance at beginning of period | $ | 542 |  |  | $ | 438 |  |  | $ | 204 |  |  | $ | 102 |
Additions based on tax positions taken during current period | 115 |  |  | 60 |  |  | 35 |  |  | 31 |
Additions based on tax positions taken during prior periods | 11 |  |  | 21 |  |  | — |  |  | 80 |
Additions for tax positions related to acquired entities | — |  |  | 116 |  |  | 226 |  |  | — |
Decreases based on tax positions taken during prior periods | (64) |  |  | (82) |  |  | (7) |  |  | (9) |
Decreases from lapse in statutes of limitations | (15) |  |  | (3) |  |  | (20) |  |  | — |
Decreases from settlements | (2) |  |  | (8) |  |  | — |  |  | — |
Balance at end of period | $ | 587 |  |  | $ | 542 |  |  | $ | 438 |  |  | $ | 204 |

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