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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 29, 2024
Income Tax Disclosure [Abstract] |
Schedule of (Loss) Income before Income Taxes by Region | Loss before income taxes summarized by region was as follows:
In millions | 2024 |  | 2023 |  | 2022
United States | $ | (1,834) |  |  | $ | (1,735) |  |  | $ | (4,942) |
Foreign | 655 |  |  | 618 |  |  | 606 |
Total loss before income taxes | $ | (1,179) |  |  | $ | (1,117) |  |  | $ | (4,336) |
Schedule of Provision for Income Taxes | The provision for income taxes consisted of the following:
In millions | 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |
Federal | $ | 6 |  |  | $ | (5) |  |  | $ | (11) |
State | 18 |  |  | 6 |  |  | 27 |
Foreign | 137 |  |  | 77 |  |  | 75 |
Total current provision | 161 |  |  | 78 |  |  | 91 |
Deferred: |  |  |  |  |
Federal | (59) |  |  | (13) |  |  | 40 |
State | (56) |  |  | (26) |  |  | (47) |
Foreign | (2) |  |  | 5 |  |  | (16) |
Total deferred benefit | (117) |  |  | (34) |  |  | (23) |
Total tax provision | $ | 44 |  |  | $ | 44 |  |  | $ | 68 |
Schedule of Reconciliation of Provision for (Loss) 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 loss before income taxes as follows:
In millions | 2024 |  | 2023 |  | 2022
Tax at federal statutory rate | $ | (248) |  |  | $ | (235) |  |  | $ | (911) |
State, net of federal benefit | (38) |  |  | (16) |  |  | (9) |
Research and other credits | (32) |  |  | (42) |  |  | (46) |
Change in valuation allowance | 29 |  |  | 48 |  |  | 62 |
Impact of R&D expense capitalization | 52 |  |  | 86 |  |  | 87 |
Impact of net operating losses on GILTI, U.S. foreign tax credits, and Pillar Two global minimum top-up tax | 90 |  |  | 61 |  |  | 60 |
Impact of foreign operations | 3 |  |  | (50) |  |  | (81) |
Stock compensation | 16 |  |  | 31 |  |  | 20 |
Accrual of European Commission fine | (99) |  |  | 3 |  |  | 96 |
Goodwill impairment | 308 |  |  | 149 |  |  | 822 |
Impact of acquisition related items | (46) |  |  | 8 |  |  | (27) |
Other | 9 |  |  | 1 |  |  | (5) |
Total tax provision | $ | 44 |  |  | $ | 44 |  |  | $ | 68 |
Schedule of Significant Components of Deferred Tax Assets and Liabilities | Significant components of deferred tax assets and liabilities were as follows:
In millions | December 29, 2024 |  | December 31, 2023
Deferred tax assets: |  |  |
Net operating losses | $ | 189 |  |  | $ | 392 |
Tax credits | 252 |  |  | 211 |
Other accruals and reserves | 40 |  |  | 49 |
Stock compensation | 34 |  |  | 15 |
Capitalized U.S. R&D expenses | 181 |  |  | 158 |
Other amortization | 42 |  |  | 115 |
Operating lease liabilities | 112 |  |  | 146 |
Property and equipment | 17 |  |  | 4 |
Investments | 23 |  |  | 7 |
Other | 63 |  |  | 56 |
Total gross deferred tax assets | 953 |  |  | 1,153 |
Valuation allowance on deferred tax assets | (278) |  |  | (251) |
Total deferred tax assets | 675 |  |  | 902 |
Deferred tax liabilities: |  |  |
Purchased intangible amortization | (35) |  |  | (734) |
Operating lease right-of-use assets | (57) |  |  | (88) |
Other | (25) |  |  | (25) |
Total deferred tax liabilities | (117) |  |  | (847) |
Deferred tax assets, net | $ | 558 |  |  | $ | 55 |
Schedule of Unrecognized Tax Benefits Roll Forward | The following table summarizes the gross amount of our uncertain tax positions:
In millions | December 29, 2024 |  | December 31, 2023 |  | January 1, 2023
Balance at beginning of year | $ | 210 |  |  | $ | 153 |  |  | $ | 131 |
Increases related to prior year tax positions | 2 |  |  | 27 |  |  | 12 |
Decreases related to prior year tax positions | (2) |  |  | (2) |  |  | (3) |
Increases related to current year tax positions | 23 |  |  | 42 |  |  | 42 |
Decreases related to lapse of statute of limitations | (1) |  |  | (10) |  |  | (29) |
Balance at end of year | $ | 232 |  |  | $ | 210 |  |  | $ | 153 |

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