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Shareholders' Equity (Tables) | 12 Months Ended
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Dec. 28, 2024
Equity [Abstract] |
Schedule of Capital Stock | Outstanding common stock activity is presented below:
(In thousands) | 2024 | 2023 | 2022
Balance at beginning of year | 192,898 |  | 206,161 |  | 216,935 |
Share repurchases | (12,890) |  | (16,169) |  | (13,075) |
Share-based compensation activity | 2,956 |  | 2,906 |  | 2,301 |
Balance at end of year | 182,964 |  | 192,898 |  | 206,161 |
Schedule of Weighted-Average Shares Outstanding for Basic and Diluted EPS | The weighted-average shares outstanding for basic and diluted EPS are as follows:
(In thousands) | 2024 | 2023 | 2022
Basic weighted-average shares outstanding | 188,318 |  | 199,719 |  | 212,809 |
Dilutive effect of stock options | 1,989 |  | 2,055 |  | 2,164 |
Diluted weighted-average shares outstanding | 190,307 |  | 201,774 |  | 214,973 |
Schedule of Components of Accumulated Other Comprehensive Income (Loss) | The components of Accumulated other comprehensive loss are presented below:
(In millions) | Pension and Postretirement Benefits Adjustments | Foreign Currency Translation Adjustments | Deferred Gains (Losses) on Hedge Contracts | Accumulated Other Comprehensive Loss
Balance at December 31, 2022 | $ | (516) |  | $ | (94) |  | $ | (2) |  | $ | (612) |
Other comprehensive loss before reclassifications | (82) |  | 45 |  | (1) |  | (38) |
Reclassified from Accumulated other comprehensive loss | — |  | — |  | 6 |  | 6 |
Balance at December 30, 2023 | $ | (598) |  | $ | (49) |  | $ | 3 |  | $ | (644) |
Other comprehensive income before reclassifications | 418 |  | (74) |  | (9) |  | 335 |
Reclassified from Accumulated other comprehensive loss | 1 |  | 3 |  | 1 |  | 5 |
Balance at December 28, 2024 | $ | (179) |  | $ | (120) |  | $ | (5) |  | $ | (304) |
Schedule of Before and After Tax Components of Other Comprehensive Income (Loss) | The before and after-tax components of other comprehensive income (loss) are presented below:
| 2024 | 2023 | 2022
(In millions) | Pre-Tax Amount | Tax (Expense) Benefit | After- Tax Amount | Pre-Tax Amount | Tax (Expense) Benefit | After- Tax Amount | Pre-Tax Amount | Tax (Expense) Benefit | After- Tax Amount
Pension and postretirement benefits adjustments: |  |  |  |  |  |  |  |  |
Unrealized gains (losses) | $ | 568 |  | $ | (136) |  | $ | 432 |  | $ | (102) |  | $ | 25 |  | $ | (77) |  | $ | 285 |  | $ | (67) |  | $ | 218 |
Amortization of net actuarial (gain) loss* | (5) |  | 1 |  | (4) |  | (7) |  | 2 |  | (5) |  | 83 |  | (20) |  | 63 |
Amortization of prior service cost* | 8 |  | (3) |  | 5 |  | 8 |  | (3) |  | 5 |  | 8 |  | (2) |  | 6 |
Recognition of prior service cost | (19) |  | 5 |  | (14) |  | (7) |  | 2 |  | (5) |  | (4) |  | — |  | (4) |
Pension and postretirement benefits adjustments, net | 552 |  | (133) |  | 419 |  | (108) |  | 26 |  | (82) |  | 372 |  | (89) |  | 283 |
Foreign currency translation adjustments: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (74) |  | — |  | (74) |  | 45 |  | — |  | 45 |  | (103) |  | — |  | (103) |
Other | 3 |  | — |  | 3 |  | — |  | — |  | — |  | — |  | — |  | — |
Foreign currency translation adjustments, net | (71) |  | — |  | (71) |  | 45 |  | — |  | 45 |  | (103) |  | — |  | (103) |
Deferred gains (losses) on hedge contracts: |  |  |  |  |  |  |  |  |
Current deferrals | (11) |  | 2 |  | (9) |  | (2) |  | 1 |  | (1) |  | (7) |  | 4 |  | (3) |
Reclassification adjustments | 2 |  | (1) |  | 1 |  | 8 |  | (2) |  | 6 |  | — |  | — |  | — |
Deferred gains (losses) on hedge contracts, net | (9) |  | 1 |  | (8) |  | 6 |  | (1) |  | 5 |  | (7) |  | 4 |  | (3) |
Total | $ | 472 |  | $ | (132) |  | $ | 340 |  | $ | (57) |  | $ | 25 |  | $ | (32) |  | $ | 262 |  | $ | (85) |  | $ | 177 |
* These components of other comprehensive income (loss) are included in the computation of net periodic pension cost. See Note 14 for additional information.

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