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Pension (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2022
Retirement Benefits [Abstract] |
Schedule of Changes in Benefit Obligations |
| January 3, 2022 |
Plan assets | $ | 2,615 |
| January 3, 2022 |
Projected benefit obligation ("PBO") funded status |  |
Fair value of plan assets | $ | 2,615 |
Benefit obligations |  | (2,041 | )
Funded status of plans | $ | 574 |
Summary of Supplemental Condensed Consolidated Balance Sheets Information Related to Pension | Supplemental condensed consolidated balance sheets information related to pension is as follows:
| January 3, 2022 |
Pension and post-retirement benefits | $ | 626 |
Other accrued liabilities |  | — |
Other noncurrent liabilities |  | (52 | )
Net amount recognized | $ | 574 |
Information for Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets | Information for pension plans with accumulated benefit obligations in excess of plan assets:
|  | January 3, 2022 |
PBO |  | $ | 78 |
Accumulated benefit obligation |  |  | 64 |
Fair value of plan assets |  |  | 26 |
Information for Pension Plans with Projected Benefit Obligations in Excess of Plan Assets | Information for pension plans with projected benefit obligations in excess of plan assets:
|  | January 3, 2022 |
PBO |  | $ | 78 |
Accumulated benefit obligation |  |  | 64 |
Fair value of plan assets |  |  | 26 |
Components of Net Periodic Pension Benefit | The components of the net periodic pension benefit for the defined benefit pension plans are as follows:
|  | Three Months Ended June 30, 2022 |  |  | Six Months Ended June 30, 2022 |
Service cost |  | $ | 4 |  |  | $ | 6 |
Interest cost |  |  | 8 |  |  |  | 17 |
Expected return on plan assets |  |  | (18 | ) |  |  | (38 | )
Net periodic pension benefit |  | $ | (6 | ) |  | $ | (15 | )
Major Assumptions Used to Determine Benefit Obligation | Major assumptions used in determining the benefit obligation and net periodic benefit cost for pension plans are presented in the following table as weighted averages:
| Three and Six Months Ended June 30, 2022 |
| Benefit Obligation |  |  | Net Periodic Benefit Cost |
Discount rates: |  |  |  |  |
PBO |  | 1.9 | % |  |  | 1.9 | %
Interest cost |  | — |  |  |  | 1.7 | %
Service cost |  | — |  |  |  | 2.2 | %
Salary scale |  | 2.9 | % |  |  | 2.9 | %
Expected return on plan assets |  | — |  |  |  | 3.1 | %
Summary of Fair Value of Pension Plan Assets by Asset Category | The fair value of the pension plan assets by asset category are as follows:
| Quoted Prices in |  | Significant |  | Significant |  |  |  |  |
| Active Markets for |  | Observable |  | Unobservable |  | Not |  |  |
| Identical Assets |  | Inputs |  | Inputs |  | Subject to |  |  |
Asset Category | Level 1 |  | Level 2 |  | Level 3 |  | Leveling |  | Total |
Public equities: |  |  |  |  |  |  |  |  |  |
Global equity funds at net asset value 1 | $ | — |  | $ | — |  | $ | — |  | $ | 238 |  | $ | 238 |
Fixed income securities: |  |  |  |  |  |  |  |  |  |
Governments |  | — |  |  | 1,608 |  |  | — |  |  | 69 |  |  | 1,677 |
Corporate bonds |  | — |  |  | 638 |  |  | — |  |  | — |  |  | 638 |
Fixed income securities 1 |  | — |  |  | — |  |  | — |  |  | 106 |  |  | 106 |
Real estate 1,2 |  | — |  |  | — |  |  | — |  |  | 11 |  |  | 11 |
Other 1,3 |  | — |  |  | (212 | ) |  | — |  |  | 59 |  |  | (153 | )
Cash & cash equivalents 1,4 |  | — |  |  | 33 |  |  | — |  |  | 65 |  |  | 98 |
Subtotal | $ | — |  | $ | 2,067 |  | $ | — |  | $ | 548 |  | $ | 2,615 |
Other assets & liabilities 5 |  |  |  |  |  |  |  |  |  | — |
Total at January 3, 2022 |  |  |  |  |  |  |  |  | $ | 2,615 |
(1) In accordance with ASU 2015-07 Fair Value Measurement (Topic 820) certain investments that are measured at fair value using net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented for the total pension assets. (2) Represents investments in real estate, including commingled funds and directly held properties. (3) Represents insurance contracts and global risk balanced commingled funds consisting mainly of equity, bonds and some commodities. (4) Represents short-term commercial paper, bonds, and other cash or cash-like investments. (5) Represents trust receivables and payables that are not leveled.

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- Definition Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the change in the benefit obligation of pension plans and/or other employee benefit plans from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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