XML 22 R11.htm IDEA: XBRL DOCUMENT
v3.21.1

Equity | 3 Months Ended
--- | ---
Apr. 03, 2021
Equity [Abstract] |
Equity | Equity Earnings per share Basic earnings per share is determined by dividing net income 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. There were 12 million and 7 million anti-dilutive potential common shares excluded from the calculation for the quarters ended April 3, 2021 and March 28, 2020, respectively. Please refer to the Consolidated Statement of Income for basic and diluted earnings per share for the quarters ended April 3, 2021 and March 28, 2020. Share repurchases In February 2020, the board of directors approved a new authorization to repurchase up to $1.5 billion of our common stock through December 2022. During the quarter ended April 3, 2021, the Company repurchased approximately 4 million shares of common stock for a total of $240 million. During the quarter ended March 28, 2020, the Company did not repurchase any shares of common stock. 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 consists of foreign currency translation adjustments, fair value adjustments associated with cash flow hedges, adjustments for net experience losses and prior service cost related to employee benefit plans, and adjustments for unrealized gains and losses on available-for-sale securities, net of related tax effects. Reclassifications out of Accumulated other comprehensive income (AOCI) for the quarters ended April 3, 2021 and March 28, 2020, consisted of the following:
(millions) |  |  |
Details about AOCI components | Amount reclassified from AOCI | Line item impacted within Income Statement
| Quarter ended April 3, 2021 | Quarter ended March 28, 2020 |
(Gains) losses on cash flow hedges: |  |  |
Interest rate contracts (a) | $ | 5 |  | $ | 2 |  | Interest expense
| $ | 5 |  | $ | 2 |  | Total before tax
| (1) |  | — |  | Tax expense (benefit)
| $ | 4 |  | $ | 2 |  | Net of tax
Amortization of postretirement and postemployment benefits: |  |  |
Net experience (gain) loss (b) | $ | (1) |  | $ | (1) |  | OIE
| $ | (1) |  | $ | (1) |  | Total before tax
| — |  | — |  | Tax expense (benefit)
| $ | (1) |  | $ | (1) |  | Net of tax
Total reclassifications | $ | 3 |  | $ | 1 |  | Net of tax
(a) See Derivative instruments and fair value measurements note (b) See Employee benefits note
Accumulated other comprehensive income (loss), net of tax, as of April 3, 2021 and January 2, 2021 consisted of the following:
(millions) | April 3, 2021 | January 2, 2021
Foreign currency translation adjustments | $ | (1,659) |  | $ | (1,668) |
Cash flow hedges — unrealized net gain (loss) | 4 |  | (57) |
Postretirement and postemployment benefits: |  |
Net experience gain (loss) | 1 |  | 2 |
Prior service credit (cost) | (12) |  | (12) |
Available-for-sale securities unrealized net gain (loss) | 1 |  | 3 |
Total accumulated other comprehensive income (loss) | $ | (1,665) |  | $ | (1,732) |

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration