v3.25.2
FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 27, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis The following table summarizes our deferred compensation plan assets and liabilities:
June 27, 2025January 3, 2025
(In millions)TotalLevel 1TotalLevel 1
Assets(1)
Equity and fixed income securities$238 $238 $219 $219 
Investments measured at NAV:
Corporate-owned life insurance35 41 
Fair value of deferred compensation plan assets$273 $260 
Liabilities(2)
Equity securities$11 $11 $10 $10 
Investments measured at NAV:
Common/collective trusts and guaranteed investment contracts367 357 
Fair value of deferred compensation plan liabilities$378 $367 
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(1)Represents diversified assets held in rabbi trusts primarily associated with certain non-qualified deferred compensation plans, which we include in the “Other current assets” and “Other non-current assets” line items in our Condensed Consolidated Balance Sheet.
(2)Primarily represents obligations to pay benefits under certain non-qualified deferred compensation plans, which we include in the “Compensation and benefits” and “Other non-current liabilities” line items in our Condensed Consolidated Balance Sheet. Under the plans, participants designate investment options (including stock and fixed-income funds), which serve as the basis for measurement of the notional value of their accounts.