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FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended
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Mar. 29, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents assets and liabilities measured at fair value on a recurring basis (at least annually) at March 29, 2024 and December 29, 2023:
| March 29, 2024 |  | December 29, 2023
(In millions) | Total |  | Level 1 |  | Total |  | Level 1
Assets |  |  |  |  |  |  |
Deferred compensation plan assets:(1) |  |  |  |  |  |  |
Equity and fixed income securities | $ | 112 |  |  | $ | 112 |  |  | $ | 106 |  |  | $ | 106 |
Investments measured at NAV: |  |  |  |  |  |  |
Corporate-owned life insurance | 38 |  |  |  |  | 37 |  |  |
Total fair value of deferred compensation plan assets | $ | 150 |  |  |  |  | $ | 143 |  |  |
Liabilities |  |  |  |  |  |  |
Deferred compensation plan liabilities:(2) |  |  |  |  |  |  |
Equity securities and mutual funds | $ | 10 |  |  | $ | 10 |  |  | $ | 18 |  |  | $ | 18 |
Investments measured at NAV: |  |  |  |  |  |  |
Common/collective trusts and guaranteed investment contracts | 289 |  |  |  |  | 274 |  |  |
Total fair value of deferred compensation plan liabilities | $ | 299 |  |  |  |  | $ | 292 |  |  |
_______________ (1)Represents diversified assets held in “rabbi trusts” primarily associated with our non-qualified deferred compensation plans, which we include in the “Other current assets” and “Other non-current assets” line items in our Condensed Consolidated Balance Sheet, and which are measured at fair value. (2)Primarily represents obligations to pay benefits under certain non-qualified deferred compensation plans, which we include in the “Compensation and benefits” and “Other long-term liabilities” line items in our Condensed Consolidated Balance Sheet. Under these plans, participants designate investment options (including stock and fixed-income funds), which serve as the basis for measurement of the notional value of their accounts.
Schedule of Fair Value, Long-term Debt | The following table presents the carrying amounts and estimated fair values of long-term debt that is not carried at fair value in our Condensed Consolidated Balance Sheet:
| March 29, 2024 |  | December 29, 2023
(In millions) | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
Term Loan 2025(1) | $ | — |  |  | $ | — |  |  | $ | 2,250 |  |  | $ | 2,250 |
All other long-term debt, net (including current portion)(2) | 11,505 |  |  | 11,258 |  |  | 9,273 |  |  | 9,199 |
Long-term debt, including the current portion of long-term debt, net | $ | 11,505 |  |  | $ | 11,258 |  |  | $ | 11,523 |  |  | $ | 11,449 |
_______________ (1)The carrying value of Term Loan 2025 approximates fair value due to its variable interest rate. (2)The fair value was estimated using a market approach based on quoted market prices for our debt traded in the secondary market. If measured at fair value, it would be categorized in Level 2 of the fair value hierarchy.

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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