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Income Taxes (Tables)

12 Months Ended

Jan. 02, 2022

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) before Income Taxes by Region

Income (loss) before income taxes summarized by region was as follows:

In millions			2021						2020						2019
United States			$	(115)					$	313					$	242
Foreign			999						543						876
Total income before income taxes			$	884					$	856					$	1,118

Schedule of Provision for Income Taxes

The provision for income taxes consisted of the following:

In millions			2021						2020						2019
Current:
Federal			$	54					$	25					$	32
State			37						13						7
Foreign			107						45						84
Total current provision			$	198					$	83					$	123
Deferred:
Federal			$	(50)					$	30					$	1
State			(23)						94						(1)
Foreign			(3)						(7)						5
Total deferred (benefit) expense			(76)						117						5
Total tax provision			$	122					$	200					$	128

Schedule of Reconciliation of Provision for Income Taxes to Amount Computed by Applying the Federal Statutory Rate

The provision for income taxes reconciles to the amount computed by applying the federal statutory rate to income before taxes as follows:

In millions			2021						2020						2019
Tax at federal statutory rate			$	186					$	180					$	235
State, net of federal benefit			13						19						18
Research and other credits			(23)						(19)						(37)
Change in valuation allowance			33						69						(2)
Impact of foreign operations			(80)						(47)						(57)
Impact of foreign derived intangible income (FDII) deduction			(12)						(11)						(4)
Cost sharing adjustment			—						28						—
Investments in consolidated variable interest entities			—						(2)						(5)
Stock compensation			(10)						(18)						(20)
Officer compensation			13						7						5
Impact of acquisition related items			(16)						—						—
Other			18						(6)						(5)
Total tax provision			$	122					$	200					$	128

Schedule of Significant Components of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities were as follows:

In millions			January 2, 2022						January 3, 2021
Deferred tax assets:
Net operating losses			$	513					$	26
Tax credits			128						70
Other accruals and reserves			39						21
Stock compensation			23						17
Other amortization			225						17
Operating lease liabilities			173						156
Other			36						53
Total gross deferred tax assets			1,137						360
Valuation allowance on deferred tax assets			(134)						(81)
Total deferred tax assets			$	1,003					$	279
Deferred tax liabilities:
Purchased intangible amortization			$	(828)					$	(27)
Convertible debt			(11)						(20)
Property and equipment			(21)						(34)
Operating lease right-of-use assets			(129)						(108)
Investments			(29)						(137)
Other			(12)						(6)
Total deferred tax liabilities			(1,030)						(332)
Deferred tax liabilities, net			$	(27)					$	(53)

Schedule of the Gross Amount of Uncertain Tax Positions

The following table summarizes the gross amount of our uncertain tax positions:

In millions			January 2, 2022						January 3, 2021						December 29, 2019
Balance at beginning of year			$	80					$	79					$	88
Increases related to prior year tax positions			19						2						1
Decreases related to prior year tax positions			(1)						—						—
Increases related to current year tax positions			39						12						12
Decreases related to lapse of statute of limitations			(6)						(13)						(22)
Balance at end of year			$	131					$	80					$	79

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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