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Shareholders' Equity (Tables) | 9 Months Ended
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Sep. 29, 2018
Shareholders' Equity |
Schedule of Shareholder's equity |
(In millions) | Common Stock | Capital Surplus | Treasury Stock | Retained Earnings | Accumulated Other Comprehensive Loss | Total Shareholders’ Equity
Balance at December 30, 2017 | $ | 33 | $ | 1,669 | $ | (48) | $ | 5,368 | $ | (1,375) | $ | 5,647
Adoption of ASC 606 |  | — |  | — |  | — |  | 90 |  | — |  | 90
Balance at December 31, 2017 |  | 33 |  | 1,669 |  | (48) |  | 5,458 |  | (1,375) |  | 5,737
Net income |  | — |  | — |  | — |  | 976 |  | — |  | 976
Other comprehensive income |  | — |  | — |  | — |  | — |  | 78 |  | 78
Share-based compensation activity |  | — |  | 150 |  | — |  | — |  | — |  | 150
Dividends declared |  | — |  | — |  | — |  | (15) |  | — |  | (15)
Purchases of common stock |  | — |  | — |  | (1,383) |  | — |  | — |  | (1,383)
Balance at September 29, 2018 | $ | 33 | $ | 1,819 | $ | (1,431) | $ | 6,419 | $ | (1,297) | $ | 5,543
Balance at December 31, 2016 | $ | 34 | $ | 1,599 | $ | — | $ | 5,546 | $ | (1,605) | $ | 5,574
Net income |  | — |  | — |  | — |  | 413 |  | — |  | 413
Other comprehensive income |  | — |  | — |  | — |  | — |  | 186 |  | 186
Share-based compensation activity |  | — |  | 112 |  | — |  | — |  | — |  | 112
Dividends declared |  | — |  | — |  | — |  | (16) |  | — |  | (16)
Purchases of common stock |  | — |  | — |  | (451) |  | — |  | — |  | (451)
Balance at September 30, 2017 | $ | 34 | $ | 1,711 | $ | (451) | $ | 5,943 | $ | (1,419) | $ | 5,818
Schedule of components of Accumulated Other Comprehensive Loss |
(In millions) | Pension and Postretirement Benefits Adjustments | Foreign Currency Translation Adjustments | Deferred Gains (Losses) on Hedge Contracts | Accumulated Other Comprehensive Loss
For the nine months ended September 29, 2018 |  |  |  |  |  |  |  |
Beginning of period | $ | (1,396) | $ | 11 | $ | 10 | $ | (1,375)
Other comprehensive income before reclassifications |  | — |  | (26) |  | — |  | (26)
Reclassified from Accumulated other comprehensive loss |  | 100 |  | 6 |  | (2) |  | 104
Other comprehensive income |  | 100 |  | (20) |  | (2) |  | 78
End of period | $ | (1,296) | $ | (9) | $ | 8 | $ | (1,297)
For the nine months ended September 30, 2017 |  |  |  |  |  |  |  |
Beginning of period | $ | (1,505) | $ | (96) | $ | (4) | $ | (1,605)
Other comprehensive income before reclassifications |  | — |  | 98 |  | 10 |  | 108
Reclassified from Accumulated other comprehensive loss |  | 70 |  | — |  | 8 |  | 78
Other comprehensive income |  | 70 |  | 98 |  | 18 |  | 186
End of period | $ | (1,435) | $ | 2 | $ | 14 | $ | (1,419)
Schedule of before and after-tax components of other comprehensive income |
| September 29, 2018 | September 30, 2017
(In millions) |  | Pre-Tax Amount |  | Tax (Expense) Benefit |  | After-Tax Amount |  | Pre-Tax Amount |  | Tax (Expense) Benefit |  | After-Tax Amount
Three Months Ended |  |  |  |  |  |  |  |  |  |  |  |
Pension and postretirement benefits adjustments: |  |  |  |  |  |  |  |  |  |  |  |
Amortization of net actuarial loss* | $ | 38 | $ | (9) | $ | 29 | $ | 34 | $ | (12) | $ | 22
Amortization of prior service cost* |  | 2 |  | — |  | 2 |  | 2 |  | (1) |  | 1
Business disposition |  | 7 |  | — |  | 7 |  | — |  | — |  | —
Pension and postretirement benefits adjustments, net |  | 47 |  | (9) |  | 38 |  | 36 |  | (13) |  | 23
Deferred gains (losses) on hedge contracts: |  |  |  |  |  |  |  |  |  |  |  |
Current deferrals |  | 3 |  | (1) |  | 2 |  | 9 |  | (2) |  | 7
Reclassification adjustments |  | (2) |  | 1 |  | (1) |  | 3 |  | — |  | 3
Deferred gains (losses) on hedge contracts, net |  | 1 |  | — |  | 1 |  | 12 |  | (2) |  | 10
Foreign currency translation adjustments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments |  | 1 |  | — |  | 1 |  | 31 |  | 3 |  | 34
Business disposition |  | 6 |  | — |  | 6 |  | — |  | — |  | —
Foreign currency translation adjustments, net |  | 7 |  | — |  | 7 |  | 31 |  | 3 |  | 34
Total | $ | 55 | $ | (9) | $ | 46 | $ | 79 | $ | (12) | $ | 67
Nine Months Ended |  |  |  |  |  |  |  |  |  |  |  |
Pension and postretirement benefits adjustments: |  |  |  |  |  |  |  |  |  |  |  |
Amortization of net actuarial loss* | $ | 115 | $ | (27) | $ | 88 | $ | 102 | $ | (36) | $ | 66
Amortization of prior service cost* |  | 6 |  | (1) |  | 5 |  | 6 |  | (2) |  | 4
Business disposition |  | 7 |  | — |  | 7 |  | — |  | — |  | —
Pension and postretirement benefits adjustments, net |  | 128 |  | (28) |  | 100 |  | 108 |  | (38) |  | 70
Deferred gains (losses) on hedge contracts: |  |  |  |  |  |  |  |  |  |  |  |
Current deferrals |  | 1 |  | (1) |  | — |  | 14 |  | (4) |  | 10
Reclassification adjustments |  | (3) |  | 1 |  | (2) |  | 9 |  | (1) |  | 8
Deferred gains (losses) on hedge contracts, net |  | (2) |  | — |  | (2) |  | 23 |  | (5) |  | 18
Foreign currency translation adjustments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments |  | (25) |  | (1) |  | (26) |  | 91 |  | 7 |  | 98
Business disposition |  | 6 |  | — |  | 6 |  | — |  | — |  | —
Foreign currency translation adjustments, net |  | (19) |  | (1) |  | (20) |  | 91 |  | 7 |  | 98
Total | $ | 107 | $ | (29) | $ | 78 | $ | 222 | $ | (36) | $ | 186
*These components of Other comprehensive income are included in the computation of net periodic pension cost. See Note 11 of our 2017 Annual Report on Form 10-K for additional information.

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