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Accounts Receivable and Finance Receivables (Tables) | 3 Months Ended
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Mar. 29, 2025
Receivables [Abstract] |
Accounts Receivable | Accounts receivable is composed of the following:
(In millions) | March 29, 2025 | December 28, 2024
Commercial | $ | 792 |  | $ | 738 |
U.S. Government contracts | 167 |  | 230 |
| 959 |  | 968 |
Allowance for credit losses | (19) |  | (19) |
Total accounts receivable, net | $ | 940 |  | $ | 949 |
Finance Receivables | Finance receivables are presented in the following table:
(In millions) | March 29, 2025 | December 28, 2024
Finance receivables | $ | 629 |  | $ | 622 |
Allowance for credit losses | (19) |  | (19) |
Total finance receivables, net | $ | 610 |  | $ | 603 |
Finance Receivables Categorized Based On Credit Quality Indicators | Finance receivables categorized based on the credit quality indicators and by the delinquency aging category are summarized as follows:
(Dollars in millions) | March 29, 2025 | December 28, 2024
Performing | $ | 626 | $ | 612
Nonaccrual | 3 | 10
Nonaccrual as a percentage of finance receivables | 0.48% | 1.61%
Current and less than 31 days past due | $ | 623 | $ | 609
31-60 days past due | 6 | 13
60+ days contractual delinquency as a percentage of finance receivables | —% | —%
Finance Receivables By Delinquency Aging Category | Finance receivables categorized based on the credit quality indicators and by the delinquency aging category are summarized as follows:
(Dollars in millions) | March 29, 2025 | December 28, 2024
Performing | $ | 626 | $ | 612
Nonaccrual | 3 | 10
Nonaccrual as a percentage of finance receivables | 0.48% | 1.61%
Current and less than 31 days past due | $ | 623 | $ | 609
31-60 days past due | 6 | 13
60+ days contractual delinquency as a percentage of finance receivables | —% | —%

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- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-11B Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13 + Details
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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 29 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-29 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-5 + Details
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- Definition Tabular disclosure of aging analysis for financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7A -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-7A Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-7 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-14 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 80 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479294/326-20-55-80 + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(4)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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