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Equity | 12 Months Ended
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Jan. 02, 2021
Equity [Abstract] |
Equity | EQUITY Earnings per share Basic earnings per share is determined by dividing net income attributable to Kellogg Company by the weighted average number of common shares outstanding during the period. Diluted earnings per share is similarly determined, except that the denominator is increased to include the number of additional common shares that would have been outstanding if all dilutive potential common shares had been issued. Dilutive potential common shares consist principally of employee stock options issued by the Company, restricted stock units, and to a lesser extent, certain contingently issuable performance shares. The total number of anti-dilutive potential common shares excluded from the reconciliation for each period was (shares in millions): 2020-7.3; 2019-14.0; 2018-6.5. Stock transactions The Company issues shares to employees and directors under various equity-based compensation and stock purchase programs, as further discussed in Note 9. The number of shares issued and outstanding during the periods presented was (shares in millions): 2020–9; 2019–15; 2018–8. In February 2020, the board of directors approved a new authorization to repurchase up to $1.5 billion of the Company's common stock through December 2022. During 2020, the Company didn't repurchase any shares of common stock. During 2019, the Company repurchased 4 million shares of common stock for a total of $220 million. Comprehensive income Comprehensive income includes net income and all other changes in equity during a period except those resulting from investments by or distributions to shareholders. Other comprehensive income for all years presented consists of foreign currency translation adjustments, fair value adjustments associated with cash flow hedges and adjustments for net experience gains (losses) and prior service credit (cost) related to employee benefit plans. During the year ended December 28, 2019, the Company modified assumptions for a U.S. postemployment benefit plan. As a result, a net experience gain (loss) was recognized in other comprehensive income with an offsetting reduction in the accumulated postemployment benefit obligation. See Note 10 and Note 11 for further details. Reclassifications from Accumulated Other Comprehensive Income (AOCI) for the year ended January 2, 2021, December 28, 2019, and December 29, 2018, consisted of the following:
Details about AOCI Components |  | Amount reclassified from AOCI |  | Line item impacted within Income Statement
(millions) |  | 2020 |  | 2019 |  | 2018 |  |
(Gains) and losses on cash flow hedges: |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | 14 |  |  | $ | 4 |  |  | $ | 8 |  |  | Interest expense
|  | $ | 14 |  |  | $ | 4 |  |  | $ | 8 |  |  | Total before tax
|  | (4) |  |  | (1) |  |  | (2) |  |  | Tax expense (benefit)
|  | $ | 10 |  |  | $ | 3 |  |  | $ | 6 |  |  | Net of tax
Amortization of postretirement and postemployment benefits: |  |  |  |  |  |  |  |
Net experience (gains) |  | $ | (3) |  |  | $ | (5) |  |  | $ | (5) |  |  | OIE
Prior service (credit) cost |  | (1) |  |  | (1) |  |  | — |  |  | OIE
|  | $ | (4) |  |  | $ | (6) |  |  | $ | (5) |  |  | Total before tax
|  | 1 |  |  | 1 |  |  | 1 |  |  | Tax expense (benefit)
|  | $ | (3) |  |  | $ | (5) |  |  | $ | (4) |  |  | Net of tax
(Gains) losses on available-for-sale securities |  |  |  |  |  |  |  |
Corporate bonds |  | $ | — |  |  | $ | (4) |  |  | $ | — |  |  | OIE
|  | $ | — |  |  | $ | (4) |  |  | $ | — |  |  | Total before tax
|  | — |  |  | — |  |  | — |  |  | Tax expense (benefit)
|  | $ | — |  |  | $ | (4) |  |  | $ | — |  |  | Net of tax
Total reclassifications |  | $ | 7 |  |  | $ | (6) |  |  | $ | 2 |  |  | Net of tax
Accumulated other comprehensive income (loss) as of January 2, 2021 and December 28, 2019 consisted of the following:
(millions) |  | January 2, 2021 |  | December 28, 2019
Foreign currency translation adjustments |  | $ | (1,668) |  |  | $ | (1,399) |
Cash flow hedges — unrealized net gain (loss) |  | (57) |  |  | (60) |
Postretirement and postemployment benefits: |  |  |  |
Net experience gain (loss) |  | 2 |  |  | 7 |
Prior service credit (cost) |  | (12) |  |  | 4 |
Available-for-sale securities unrealized net gain (loss) |  | 3 |  |  | — |
Total accumulated other comprehensive income (loss) |  | $ | (1,732) |  |  | $ | (1,448) |

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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