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EQUITY | 12 Months Ended
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Dec. 30, 2023
Equity [Abstract] |
Equity | EQUITY Earnings per share Basic earnings per share is determined by dividing net income attributable to Kellanova 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): 2023-3.9; 2022-2.9; 2021-10.6. Stock transactions The Company issues shares to employees and directors under various equity-based compensation and stock purchase programs, as further discussed in Note 10. 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. In December 2022, the board of directors approved a new authorization to repurchase up to $1.5 billion of our common stock through December 2025. During 2023, the Company repurchased 3 million shares of common stock for a total of $170 million. During 2022, the Company repurchased 5 million shares of common stock for a total of $300 million. During 2021, the Company repurchased 4 million shares of common stock for a total of $240 million. As of December 30, 2023, approximately $1.3 billion remains available under the December 2022 stock repurchase program. 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, which are recorded in interest expense within the statement of income, upon reclassification from Accumulated Other Comprehensive Income (AOCI), adjustments for net experience gains (losses), prior service credit (costs) related to employee benefit plans and adjustments for unrealized (gains) losses on available-for-sale securities, which are recorded in other income (expense) within the statement of income, upon reclassification from AOCI. The related tax effects of these items are recorded in income tax expense within the statement of income, upon reclassification from AOCI. Accumulated other comprehensive income (loss) as of December 30, 2023 and December 31, 2022 consisted of the following:
(millions) |  | December 30, 2023 |  | December 31, 2022
Foreign currency translation adjustments |  | $ | (2,326) |  |  | $ | (2,111) |
Net investment hedges gain (loss) |  | 186 |  |  | 282 |
Cash flow hedges — net deferred gain (loss) |  | 143 |  |  | 150 |
Postretirement and postemployment benefits: |  |  |  |
Net experience gain (loss) |  | 1 |  |  | 2 |
Prior service credit (cost) |  | (45) |  |  | (27) |
Available-for-sale securities unrealized net gain (loss) |  | — |  |  | (4) |
Total accumulated other comprehensive income (loss) |  | $ | (2,041) |  |  | $ | (1,708) |

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