v3.26.1
STRATEGIC INVESTMENT IN SUBSIDIARY (Tables)
6 Months Ended
Jul. 03, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Fair Values by Balance Sheet Grouping
Fair values recognized upon initial issuance in our Condensed Consolidated Balance Sheet are summarized below:
(In millions)
April 17, 2026
Subsidiary Series A preferred stock conversion feature$130 
Subsidiary warrants186 
Redeemable subsidiary Series A convertible preferred stock1,070 
Schedule of Redeemable Noncontrolling Interest
The Redeemable subsidiary Series A convertible preferred stock recognized in our Condensed Consolidated Balance Sheet after consideration of the aforementioned items is summarized below:
(In millions)
Balance as of April 17, 2026
$1,070 
Deferred tax liability(89)
Transaction costs(27)
Subsidiary preferred stock deemed dividend14 
Balance as of July 3, 2026
$968