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Pension and Other Retirement Plans (Tables) | 12 Months Ended
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Dec. 29, 2024
Retirement Benefits [Abstract] |
Schedule of Funded Status of Plan | The following table presents a reconciliation of the pension benefit obligation, plan assets and the funded status of our pension plans:
| December 29, 2024 |  | December 31, 2023
| (in millions)
Change in benefit obligation: |  |  |
Benefit obligation at beginning of year | $ | 1,829 |  |  | $ | 1,815 |
Service cost | 12 |  |  | 13 |
Interest cost | 99 |  |  | 98 |
Benefits paid | (116) |  |  | (118) |
Actuarial (gain) loss | (24) |  |  | 21 |
Benefit obligation at end of year | 1,799 |  |  | 1,829 |
Change in plan assets: (1) |  |  |
Fair value of plan assets at beginning of year | 1,551 |  |  | 1,518 |
Actual return on plan assets | 6 |  |  | 129 |
Employer contributions | 56 |  |  | 22 |
Benefits paid | (116) |  |  | (118) |
Fair value of plan assets at end of year | 1,498 |  |  | 1,551 |
Funded status | $ | 302 |  |  | $ | 278 |
Amounts recognized in the consolidated balance sheets: |  |  |
Net long-term pension liability | 279 |  |  | 255 |
Accrued expenses and other current liabilities | 23 |  |  | 22 |
Net amount recognized at end of year | $ | 302 |  |  | $ | 278 |
________________ (1)Excludes the assets and related activity of our non-qualified defined benefit pension plans. The fair value of assets related to our non-qualified plans was $141 million and $128 million as of December 29, 2024 and December 31, 2023, respectively. These assets are recorded in prepaid expenses and other current assets, and other assets within the consolidated balance sheets.
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) | The following table presents the pre-tax unrecognized items included as components of accumulated other comprehensive loss related to our defined benefit pension plans as of the dates indicated:
| December 29, 2024 |  | December 31, 2023
| (in millions)
Unrecognized actuarial loss | $ | (552) |  |  | $ | (489) |
Unrecognized prior service cost | (2) |  |  | (3) |
Schedule of Net Benefit Costs | The following table presents the components of the net periodic pension cost (benefit) for the periods indicated:
| Fiscal Year
| 2024 |  | 2023 |  | 2022
| (in millions)
Service cost | $ | 12 |  |  | $ | 13 |  |  | $ | 23 |
Interest cost | 99 |  |  | 98 |  |  | 77 |
Expected return on plan assets | (107) |  |  | (107) |  |  | (128) |
Amortization | 18 |  |  | 18 |  |  | 22 |
Net periodic pension cost (benefit) | $ | 22 |  |  | $ | 22 |  |  | $ | (7) |
Defined Benefit Plan, Assumptions | The following table shows our weighted average assumptions for the periods indicated:
| Fiscal Year
| 2024 |  | 2023 |  | 2022
Discount rate to determine net periodic pension cost (benefit) | 5.57 | % |  | 5.58 | % |  | 3.07 | %
Discount rate to determine benefit obligation | 5.78 |  |  | 5.57 |  |  | 5.57 |
Expected long-term rate of return on plan assets | 7.05 |  |  | 7.25 |  |  | 6.00 |
Rate of compensation increase | 4.00 |  |  | 4.00 |  |  | 4.00 |
Defined Benefit Plan, Plan Assets, Category | The following table presents the fair value of our qualified pension plan assets by major asset category. The allocation of our pension plan assets is based on the target range presented in the following table.
Asset category: |  | December 29, 2024 |  | December 31, 2023 |  | Target Range
|  | (in millions) |
Cash and cash equivalents, net of unsettled transactions |  | $ | 198 |  |  | $ | 159 |  |  | 0-15%
Equity securities |  | 511 |  |  | 508 |  |  | 30-50%
Debt securities |  | 493 |  |  | 582 |  |  | 30-50%
Alternative assets |  | 296 |  |  | 302 |  |  | 2-25%
Total plan assets |  | $ | 1,498 |  |  | $ | 1,551 |  |  |
Schedule of Expected Benefit Payments | Expected future benefit payments for our defined benefit pension plans are as follows:
Fiscal Year |  | (in millions)
2025 |  | $ | 122 |
2026 |  | 120 |
2027 |  | 123 |
2028 |  | 126 |
2029 |  | 126 |
2030 - 2034 |  | 659 |
Multiemployer Plan | The following table summarizes information about the multiemployer plans in which we participate, including our contributions to the plans. Our contributions to these plans did not exceed 5% of total plan contributions for any plan year presented.
|  |  |  | Fiscal Years |  |
Plan |  | EIN / PN (1) |  | 2024 |  | 2023 |  | 2022 |  | Expiration Dates of Collective Bargaining Agreements
|  |  |  | (in millions) |  |
United Food and Commercial Workers International Union Industry Pension Fund |  | 51-6055922 / 001 |  | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |  |  | Multiple (2)
Central Pension Fund of the International Union of Operating Engineers and Participating Employers |  | 36-6052390 / 001 |  | — |  |  | — |  |  | — |  |  | October 2028
IAM National Pension Fund National Pension Plan |  | 51-6031295 / 002 |  | — |  |  | — |  |  | — |  |  | February 2026
Total contributions to multiemployer plans |  |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | 2 |  |  |
________________ (1)Represents the Employer Identification Number and the three-digit plan number assigned to a plan by the Internal Revenue Service. (2)We have multiple collective bargaining agreements associated with the United Food and Commercial Workers International Union Industry Pension Fund. These agreements are currently scheduled to expire between January 2026 and May 2028.

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