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EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 28, 2024

Retirement Benefits [Abstract]

Changes in Pension and Other Postretirement Benefit Obligations, Plan Assets and Funded Status

The following table provides a reconciliation of changes in the projected benefit obligation and the fair value of plan assets, as well as the funded status of the plans to amounts recognized on the Company’s Consolidated Balance Sheets.

		Pension Benefits								Other Benefits
(In millions)		2024				2023				2024				2023
Changes in projected benefit obligation:
Obligation at beginning of period		$	592			$	627			$	8			$	9
Interest cost			29				32				—				—
Assumption changes			(16	)			3				—				—
Actuarial gain			—				(2	)			—				—
Benefits paid			(65	)			(68	)			(1	)			(1	)
Obligation at end of period		$	540			$	592			$	7			$	8
Change in plan assets:
Fair value of plan assets at beginning of period		$	607			$	625			$	—			$	—
Actual return on plan assets			8				48				—				—
Employer contribution			2				2				1				1
Benefits paid			(65	)			(68	)			(1	)			(1	)
Fair value of plan assets at end of period			552				607				—				—
Net asset (liability) recognized at end of period		$	12			$	15			$	(7	)		$	(8	)

The following table provides a reconciliation of changes in the projected benefit obligation, the fair value of plan assets and the funded status of the plan to amounts recognized on the Company’s Consolidated Balance Sheets.

(In millions)		2024				2023
Changes in projected benefit obligation:
Obligation at beginning of period		$	167			$	141
Interest cost			7				8
Benefits paid			(7	)			(7	)
Actuarial loss/(gain)			(18	)			17
Currency translation			(2	)			8
Obligation at end of period			147				167
Changes in plan assets:
Fair value of plan assets at beginning of period			167				189
Actual return on plan assets			(13	)			(24	)
Company contributions			1				—
Benefits paid			(7	)			(7	)
Currency translation			(2	)			9
Fair value of plan assets at end of period			146				167
Net asset (liability) recognized at end of period		$	(1	)		$	—

The UK pension plan is in a net liability position and included in Pension and postretirement obligations, net in the Consolidated Balance Sheets at December 28, 2024. There was no net funded amount as of December 30, 2023.

Amount Recognized in Consolidated Balance Sheets Related to Defined Benefit Pension and Other Postretirement Benefit Plans

The following table shows the amounts recognized in the Consolidated Balance Sheets related to the Company’s North America defined benefit pension and other postretirement benefit plans as of year-ends:

		Pension Benefits								Other Benefits
(In millions)		2024				2023				2024				2023
Noncurrent assets		$	20			$	23			$	—			$	—
Current liabilities			(1	)			(1	)			(1	)			(1	)
Noncurrent liabilities			(7	)			(7	)			(6	)			(7	)
Net amount recognized		$	12			$	15			$	(7	)		$	(8	)

Accumulated Benefit Obligation in Excess of Plan Assets

The following table provides the accumulated benefit obligation for the Company’s North America defined benefit pension and other postretirement benefit plans with a projected benefit obligation and an accumulated benefit obligation in excess of plan assets as of year ends:

		Pension Benefits								Other Benefits
(In millions)		2024				2023				2024				2023
Accumulated benefit obligation in excess of plan assets
Accumulated benefit obligation at end of period		$	(8	)		$	(8	)		$	(7	)		$	(8	)
Fair value of plan assets at end of period			—				—				—				—
Projected benefit obligation in excess of plan assets
Benefit obligation at end of period			(8	)			(8	)
Fair value of plan assets at end of period			—				—

Components of Net Periodic Cost (Benefit)

The components of net periodic benefit are as follows:

		Pension Benefits												Other Benefits
(In millions)		2024				2023				2022				2024				2023				2022
Interest cost		$	29			$	32			$	21			$	—			$	—			$	—
Expected return on plan assets			(29	)			(34	)			(26	)			—				—				—
Amortization of net gains			(1	)			(6	)			—				—				—				—
Net periodic benefit		$	(1	)		$	(8	)		$	(5	)		$	—			$	—			$	—

The components of net periodic cost (benefit) are presented below:

(In millions)		2024				2023				2022
Interest cost		$	7			$	8			$	4
Expected return on plan assets			(6	)			(8	)			(6	)
Amortization of net losses			2				—				—
Net periodic pension cost (benefit)		$	3			$	—			$	(2	)

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income

Other changes in plan assets and benefit obligations recognized in other comprehensive income are as follows:

		Pension Benefits												Other Benefits
(In millions)		2024				2023				2022				2024				2023				2022
Accumulated other comprehensive loss (income) at    beginning of year		$	(38	)		$	(31	)		$	(46	)		$	(3	)		$	(2	)		$	—
Net loss (gain)			4				(13	)			15				—				(1	)			(2	)
Amortization of net losses			1				6				—				1				—				—
Accumulated other comprehensive income at    end of year		$	(33	)		$	(38	)		$	(31	)		$	(2	)		$	(3	)		$	(2	)

Weighted Average Assumptions Used in the Measurement of Benefit Obligations and Net Periodic Cost (Benefit)

The following table presents the key weighted average assumptions used in the measurement of the Company’s benefit obligations as of year-ends:

														Other Benefits
		Pension Benefits												United States												Canada
		2024				2023				2022				2024				2023				2022				2024				2023				2022
Discount rate			5.56	%			5.14	%			5.37	%			5.30	%			4.70	%			4.90	%			4.60	%			4.60	%			5.10	%

The following table presents the weighted average assumptions used in the measurement of net periodic benefit:

														Other Benefits
		Pension Benefits												United States												Canada
		2024				2023				2022				2024				2023				2022				2024				2023				2022
Discount rate			5.14	%			5.37	%			2.69	%			4.70	%			4.90	%			2.40	%			4.60	%			5.10	%			2.90	%
Expected long-term rate of return    on plan assets			4.99	%			5.17	%			3.64	%			—	%			—	%			—	%			—	%			—	%			—	%

Assumptions used in calculating the funded status and net periodic cost (benefit) included:

		2024				2023				2022
Expected long-term rate of return on plan assets			4.20	%			3.20	%			3.47	%
Discount rate			5.00	%			4.00	%			5.00	%
Inflation			3.00	%			2.90	%			3.00	%

Assumed Healthcare Cost Trend Rates

The following table presents the assumed healthcare cost trend rates used in measuring the Company’s postretirement benefit obligations at year-ends:

		2024				2023				2022
Weighted average assumptions as of year-end:
Healthcare cost trend rate assumed for next year			5.20	%			5.30	%			6.10	%
Rate to which the cost trend rate is assumed to decline (the ultimate    trend rate)			4.30	%			4.30	%			4.00	%
Year that the rate reaches the ultimate trend rate		2037				2037				2041

Allocation of Plan Assets Table

The allocation of pension plan assets by category at year-ends is as follows:

		2024				2023
Cash			1	%			1	%
Common collective trust funds			99	%			99	%
			100	%			100	%

The allocation of Plan assets is as follows:

		2024				2023
Cash			—	%			1	%
Insurance contract			100	%			99	%
Total			100	%			100	%

Schedule of Fair Value of Plan Assets by Assets Category

The following table presents the pension plan assets by level within the fair value hierarchy at year-ends.

(In millions)		Fair Value Measurements 2024
Asset Category		Total				Assets Measured at NAV (a)				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Plan assets measured at net asset value: (a)
Common collective trust funds:
U.S. small and mid-cap equity securities		$	4			$	4			$	—			$	—			$	—
U.S. large cap equity securities			18				18				—				—				—
International equity securities			27				27				—				—				—
Corporate bonds			240				240				—				—				—
Government securities			243				243				—				—				—
Cash			15				15				—				—				—
Total common collective trust funds			547				547				—				—				—
Total plan assets measured at net asset value			547				547				—				—				—
Plan assets measured in the fair value    hierarchy:
Cash			5				—				5				—				—
Total plan assets measured in the fair value    hierarchy			5				—				5				—				—
Total plan assets		$	552			$	547			$	5			$	—			$	—

(a)Fair values of Common collective trust funds are estimated using net asset value per unit as a practical expedient which are excluded from the disclosure requirement to classify amounts in the fair value hierarchy in connection with the adoption of Accounting Standards Update (ASU) 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent).

(In millions)		Fair Value Measurements 2023
Asset Category		Total				Assets Measured at NAV (a)				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Plan assets measured at net asset value: (a)
Common collective trust funds:
U.S. small and mid-cap equity securities		$	5			$	5			$	—			$	—			$	—
U.S. large cap equity securities			21				21				—				—				—
International equity securities			32				32				—				—				—
Corporate bonds			282				282				—				—				—
Government securities			241				241				—				—				—
Cash			21				21				—				—				—
Total common collective trust funds			602				602				—				—				—
Total plan assets measured at net asset value			602				602				—				—				—
Plan assets measured in the fair value    hierarchy:
Cash			5				—				5				—				—
Total plan assets measured in the fair value    hierarchy			5				—				5				—				—
Total plan assets		$	607			$	602			$	5			$	—			$	—

(a)Fair values of Common collective trust funds are estimated using net asset value per unit as a practical expedient which are excluded from the disclosure requirement to classify amounts in the fair value hierarchy in connection with the adoption of Accounting Standards Update (ASU) 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent).

The following table presents the pension plan assets by level within the fair value hierarchy.

(In millions)		Fair Value Measurements 2024
Asset Category		Total				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Insurance contract			146				—				—				146
Total		$	146			$	—			$	—			$	146

(In millions)		Fair Value Measurements 2023
Asset Category		Total				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Cash		$	2			$	2			$	—			$	—
Insurance contract			165				—				—				165
Total		$	167			$	2			$	—			$	165

Anticipated Benefit Payments

Anticipated benefit payments by year are as follows:

(In millions)		Pension Benefits				Other Benefits
2025		$	64			$	1
2026			61				1
2027			58				1
2028			55				1
2029			52				1
Next five years			215				3

Anticipated benefit payments for the UK pension plan, at 2024 year-end exchange rates, are as follows:

(In millions)		Benefit Payments
2025		$	7
2026			7
2027			7
2028			7
2029			8
Next five years			42

Reconciliation of the Change in Fair Value of the Pension Plan Assets Calculated based on Level 3 Inputs

The following is a reconciliation of the change in fair value of the pension plan assets calculated based on Level 3 inputs:

(In millions)		Total
Balance at December 30, 2023		$	165
Realized loss			(19	)
Balance at December 28, 2024		$	146

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