v3.26.1
Accumulated Other Comprehensive Income (Loss)
 6 Months Ended
Jul. 04, 2026
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)

13. Accumulated Other Comprehensive Income (Loss)

The following tables reflect the changes in accumulated other comprehensive income (loss) by component for the three months and six months ended July 4, 2026 and July 5, 2025 (in millions):

 

 

 

Three-Month (13-Week) Period Ended

 

 

 

July 4, 2026

 

 

 

Gains and (Losses) on

 

 

Foreign Currency

 

 

Adjustment to Early

 

 

 

 

 

 

Hedging Derivatives

 

 

Gains (Losses)

 

 

Retiree Medical Plan

 

 

Total

 

Accumulated other comprehensive
  income (loss) at April 4, 2026

 

$

(15

)

 

$

(196

)

 

$

5

 

 

$

(206

)

Other comprehensive income
   (loss) before
   reclassifications

 

 

(8

)

 

 

(21

)

 

 

-

 

 

 

(29

)

Amounts reclassified from
   accumulated other
   comprehensive income (loss)
   into earnings (1)

 

 

21

 

 

 

-

 

 

 

-

 

 

 

21

 

Net current-period other
   comprehensive income (loss)

 

 

13

 

 

 

(21

)

 

 

-

 

 

 

(8

)

Accumulated other comprehensive
   income (loss) at July 4, 2026

 

$

(2

)

 

$

(217

)

 

$

5

 

 

$

(214

)

 

 

Six-Month (26-Week) Period Ended

 

 

 

July 4, 2026

 

 

 

Gains and (Losses) on

 

 

Foreign Currency

 

 

Adjustment to Early

 

 

 

 

 

 

Hedging Derivatives

 

 

Gains (Losses)

 

 

Retiree Medical Plan

 

 

Total

 

Accumulated other comprehensive
   income (loss) at
   December 31, 2025

 

$

(13

)

 

$

(186

)

 

$

5

 

 

$

(194

)

Other comprehensive income
   (loss) before reclassifications

 

 

(25

)

 

 

(31

)

 

 

-

 

 

 

(56

)

Amounts reclassified from
   accumulated other
   comprehensive income (loss)
   into earnings (1)

 

 

36

 

 

 

-

 

 

 

-

 

 

 

36

 

Net current-period other
   comprehensive income (loss)

 

 

11

 

 

 

(31

)

 

 

-

 

 

 

(20

)

Accumulated other comprehensive
   income (loss) at July 4, 2026

 

$

(2

)

 

$

(217

)

 

$

5

 

 

$

(214

)

 

(1)
Includes $20 million and $36 million net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net losses on commodity contracts in the second quarter and first six months of 2026, respectively. The tax impact of those reclassifications was $7 million and $11 million in the second quarter and first six months of 2026, respectively.

 

 

 

Three-Month (13-Week) Period Ended

 

 

 

July 5, 2025

 

 

 

Gains and (Losses) on

 

 

Foreign Currency

 

 

Adjustment to Early

 

 

 

 

 

 

Hedging Derivatives

 

 

Gains (Losses)

 

 

Retiree Medical Plan

 

 

Total

 

Accumulated other comprehensive
   income (loss) at April 5, 2025

 

$

14

 

 

$

(223

)

 

$

11

 

 

$

(198

)

Other comprehensive income (loss)
   before reclassifications

 

 

(16

)

 

 

43

 

 

 

-

 

 

 

27

 

Amounts reclassified from
   accumulated other
   comprehensive income (loss)
   into earnings (2)

 

 

4

 

 

 

-

 

 

 

-

 

 

 

4

 

Net current-period other
   comprehensive income (loss)

 

 

(12

)

 

 

43

 

 

 

-

 

 

 

31

 

Accumulated other comprehensive
   income (loss) at July 5, 2025

 

$

2

 

 

$

(180

)

 

$

11

 

 

$

(167

)

 

 

 

Six-Month (26-Week) Period Ended

 

 

 

July 5, 2025

 

 

 

Gains and (Losses) on

 

 

Foreign Currency

 

 

Adjustment to Early

 

 

 

 

 

 

Hedging Derivatives

 

 

Gains (Losses)

 

 

Retiree Medical Plan

 

 

Total

 

Accumulated other comprehensive
   income (loss) at
   December 31, 2024

 

$

1

 

 

$

(220

)

 

$

11

 

 

$

(208

)

Other comprehensive income (loss)
   before reclassifications

 

 

(6

)

 

 

40

 

 

 

-

 

 

 

34

 

Amounts reclassified from
   accumulated other
   comprehensive income (loss)
   into earnings (2)

 

 

7

 

 

 

-

 

 

 

-

 

 

 

7

 

Net current-period other
   comprehensive income (loss)

 

 

1

 

 

 

40

 

 

 

-

 

 

 

41

 

Accumulated other comprehensive
   income (loss) at July 5, 2025

 

$

2

 

 

$

(180

)

 

$

11

 

 

$

(167

)

 

Includes $4 million and $7 million net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net losses on commodity contracts in the second quarter and first six months of 2025, respectively. The tax impact of those reclassifications was $1 million and $2 million in the second quarter and first six months of 2025, respectively.