XML 38 R27.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Derivative instruments (Tables) | 6 Months Ended
--- | ---
Jun. 29, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Notional Amounts of Outstanding Derivative Positions | Total notional amounts of the Company’s derivative instruments as of June 29, 2024 and December 30, 2023 were as follows:
(millions) | June 29, 2024 | December 30, 2023
Foreign currency exchange contracts | $ | 251 |  | $ | — |
Commodity contracts | 77 |  | — |
Total | $ | 328 |  | $ | — |
Schedule of Derivative Assets at Fair Value | The following table presents assets and liabilities that were measured at fair value in the Unaudited Consolidated Balance Sheet on a recurring basis as of June 29, 2024 and December 30, 2023:
| June 29, 2024 |  | December 30, 2023
(millions) | Level 1 | Level 2 | Total |  | Level 1 | Level 2 | Total
Liabilities: |  |  |  |  |  |  |
Foreign currency exchange contracts: |  |  |  |  |  |  |
Other current liabilities | $ | — |  | $ | 1 |  | $ | 1 |  |  | $ | — |  | $ | — |  | $ | — |
Commodity contracts: |  |  |  |  |  |  |
Other current liabilities | 1 |  | — |  | 1 |  |  | — |  | — |  | — |
Total liabilities | $ | 1 |  | $ | 1 |  | $ | 2 |  |  | $ | — |  | $ | — |  | $ | — |
Schedule of Derivative Liabilities at Fair Value | The following table presents assets and liabilities that were measured at fair value in the Unaudited Consolidated Balance Sheet on a recurring basis as of June 29, 2024 and December 30, 2023:
| June 29, 2024 |  | December 30, 2023
(millions) | Level 1 | Level 2 | Total |  | Level 1 | Level 2 | Total
Liabilities: |  |  |  |  |  |  |
Foreign currency exchange contracts: |  |  |  |  |  |  |
Other current liabilities | $ | — |  | $ | 1 |  | $ | 1 |  |  | $ | — |  | $ | — |  | $ | — |
Commodity contracts: |  |  |  |  |  |  |
Other current liabilities | 1 |  | — |  | 1 |  |  | — |  | — |  | — |
Total liabilities | $ | 1 |  | $ | 1 |  | $ | 2 |  |  | $ | — |  | $ | — |  | $ | — |
Schedule of the Effect of Derivative Instruments on the Consolidated Statements of Income and Comprehensive Income | The effect of derivative instruments on the Company's Unaudited Consolidated Statement of Income for the quarters ended June 29, 2024 and July 1, 2023 was as follows:
| Gain (loss) recognized in cost of goods sold | Gain (loss) recognized in other income (expense), net
(millions) | June 29, 2024 | July 1, 2023 | June 29, 2024 | July 1, 2023
Commodity contracts | $ | (1) |  | $ | (7) |  | $ | — |  | $ | — |
Foreign currency derivatives | $ | (2) |  | $ | (1) |  | $ | — |  | $ | — |
The effect of derivative instruments on the Company's Unaudited Consolidated Statement of Income for the year-to-date periods ended June 29, 2024 and July 1, 2023 was as follows:
| Gain (loss) recognized in cost of goods sold | Gain (loss) recognized in other income (expense), net
(millions) | June 29, 2024 | July 1, 2023 | June 29, 2024 | July 1, 2023
Commodity contracts | $ | (1) |  | $ | (13) |  | $ | — |  | $ | — |
Foreign currency derivatives | $ | (2) |  | $ | 1 |  | $ | — |  | $ | — |

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative assets at fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDerivativeAssetsAtFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative liabilities at fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration