v3.25.2
Income Taxes (Tables)
 12 Months Ended
Dec. 28, 2024
Income Tax Contingency [Line Items]  
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]
The components of income before income taxes are as follows:
202420232022
United States$2,590 $4,120 $7,305 
Foreign9,356 7,297 3,400 
$11,946 $11,417 $10,705 
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
The provision for income taxes consisted of the following:
202420232022
Current:
U.S. Federal$1,033 $1,133 $1,137 
Foreign1,406 1,201 1,027 
State255 309 246 
2,694 2,643 2,410 
Deferred:
U.S. Federal(306)(109)22 
Foreign(10)(212)(709)
State(58)(60)4 
(374)(381)(683)
$2,320 $2,262 $1,727 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
A reconciliation of the U.S. Federal statutory tax rate to our annual tax rate is as follows:
202420232022
U.S. Federal statutory tax rate21.0 %21.0 %21.0 %
State income tax, net of U.S. Federal tax benefit1.3 1.8 1.8 
Lower taxes on foreign results(2.5)(2.5)(1.5)
One-time mandatory transition tax - TCJ Act— — 0.8 
Juice Transaction— (0.1)(2.4)
Tax settlements— — (3.0)
Other, net(0.4)(0.4)(0.6)
Annual tax rate19.4 %19.8 %16.1 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
Deferred tax liabilities and assets are comprised of the following:
20242023
Deferred tax liabilities
Debt guarantee of wholly-owned subsidiary$578 $578 
Property, plant and equipment1,868 1,978 
Recapture of net operating losses488 492 
Pension liabilities 112 167 
Right-of-use assets772 660 
Investment in TBG— 93 
Other301 350 
Gross deferred tax liabilities4,119 4,318 
Deferred tax assets
Net carryforwards6,737 6,877 
Intangible assets other than nondeductible goodwill1,599 1,758 
Share-based compensation148 137 
Retiree medical benefits104 114 
Other employee-related benefits415 412 
Deductible state tax and interest benefits202 176 
Lease liabilities773 660 
Capitalized research and development256 210 
Other948 1,031 
Gross deferred tax assets11,182 11,375 
Valuation allowances(6,185)(6,478)
Deferred tax assets, net4,997 4,897 
Net deferred tax (assets)/liabilities$(878)$(579)
A summary of our valuation allowance activity is as follows:
202420232022
Balance, beginning of year$6,478 $5,013 $4,628 
(Benefit)/provision(198)1,419 492 
Other (deductions)/additions(95)46 (107)
Balance, end of year$6,185 $6,478 $5,013 
Summary of Income Tax Contingencies [Table Text Block] Our major taxing jurisdictions and the related open tax audits are as follows:
Jurisdiction
Years Open to AuditYears Currently Under Audit
United States
2014-20232014-2019
Mexico
2014-20232014-2019
United Kingdom
2021-2023None
Canada (Domestic)
2018-20232019
Canada (International)
2012-20232012-2019
Russia
2021-2023None
Reserves Rollforward
A reconciliation of unrecognized tax benefits is as follows:
20242023
Balance, beginning of year$2,093 $1,867 
Additions for tax positions related to the current year210 225 
Additions for tax positions from prior years108 123 
Reductions for tax positions from prior years(46)(51)
Settlement payments(24)(16)
Statutes of limitations expiration(31)(33)
Translation and other(26)(22)
Balance, end of year$2,284 $2,093