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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables) | 6 Months Ended
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Jun. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Changes in Carrying Amounts of Goodwill | The assignment of goodwill and changes in the carrying amount of goodwill, by business segment, were as follows:
(In millions) | SAS |  | IMS |  | CS |  | AR |  | Total
Balance at December 29, 2023 | $ | 6,110 |  |  | $ | 6,564 |  |  | $ | 4,940 |  |  | $ | 2,365 |  |  | $ | 19,979 |
Goodwill from AJRD acquisition(1) | — |  |  | — |  |  | — |  |  | 496 |  |  | 496 |
Impairment of goodwill | (14) |  |  | — |  |  | — |  |  | — |  |  | (14) |
Goodwill decrease from divestitures | (79) |  |  | — |  |  | — |  |  | — |  |  | (79) |
Currency translation adjustments | (4) |  |  | (10) |  |  | (1) |  |  | — |  |  | (15) |
Balance at June 28, 2024 | $ | 6,013 |  |  | $ | 6,554 |  |  | $ | 4,939 |  |  | $ | 2,861 |  |  | $ | 20,367 |
_______________ (1)Represents the effect of measurement period adjustments associated with the acquisition of Aerojet Rocketdyne Holdings, Inc. (“AJRD”) during the two quarters ended June 28, 2024. See Note O: Acquisitions and Divestitures in these Notes for further information.
Schedule of Indefinite-Lived Intangible Assets | Other identifiable intangible assets, net are summarized below:
| June 28, 2024 |  | December 29, 2023
(In millions) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Customer relationships | $ | 8,843 |  |  | $ | (3,095) |  |  | $ | 5,748 |  |  | $ | 8,892 |  |  | $ | (2,733) |  |  | $ | 6,159 |
Developed technologies | 851 |  |  | (450) |  |  | 401 |  |  | 856 |  |  | (413) |  |  | 443 |
Trade names — divisions | 185 |  |  | (57) |  |  | 128 |  |  | 185 |  |  | (50) |  |  | 135 |
Other, including contract backlog | 2 |  |  | (2) |  |  | — |  |  | 4 |  |  | (4) |  |  | — |
Total finite-lived identifiable intangible assets | 9,881 |  |  | (3,604) |  |  | 6,277 |  |  | 9,937 |  |  | (3,200) |  |  | 6,737 |
Trade names — corporate | 1,803 |  |  | — |  |  | 1,803 |  |  | 1,803 |  |  | — |  |  | 1,803 |
Total identifiable intangible assets, net | $ | 11,684 |  |  | $ | (3,604) |  |  | $ | 8,080 |  |  | $ | 11,740 |  |  | $ | (3,200) |  |  | $ | 8,540 |
Schedule of Finite-Lived Intangible Assets | Other identifiable intangible assets, net are summarized below:
| June 28, 2024 |  | December 29, 2023
(In millions) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Customer relationships | $ | 8,843 |  |  | $ | (3,095) |  |  | $ | 5,748 |  |  | $ | 8,892 |  |  | $ | (2,733) |  |  | $ | 6,159 |
Developed technologies | 851 |  |  | (450) |  |  | 401 |  |  | 856 |  |  | (413) |  |  | 443 |
Trade names — divisions | 185 |  |  | (57) |  |  | 128 |  |  | 185 |  |  | (50) |  |  | 135 |
Other, including contract backlog | 2 |  |  | (2) |  |  | — |  |  | 4 |  |  | (4) |  |  | — |
Total finite-lived identifiable intangible assets | 9,881 |  |  | (3,604) |  |  | 6,277 |  |  | 9,937 |  |  | (3,200) |  |  | 6,737 |
Trade names — corporate | 1,803 |  |  | — |  |  | 1,803 |  |  | 1,803 |  |  | — |  |  | 1,803 |
Total identifiable intangible assets, net | $ | 11,684 |  |  | $ | (3,604) |  |  | $ | 8,080 |  |  | $ | 11,740 |  |  | $ | (3,200) |  |  | $ | 8,540 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | Future estimated amortization expense for identifiable intangible assets is as follows:
| (In millions)
Next 12 months | $ | 826 |
Months 13-24 | 758 |
Months 25-36 | 590 |
Months 37-48 | 552 |
Months 49-60 | 451 |
Thereafter | 3,100 |
Total | $ | 6,277 |

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