v3.26.3
Stockholders' Equity and Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 25, 2026
Share-Based Payment Arrangement [Abstract]  
Share Repurchase Program
The Company’s Board of Directors has approved the following programs to repurchase shares of the Company’s common stock:
Name of programDate of Board of Directors approvalNumber of shares of Company common stock approved for repurchase
Number of shares remaining available for repurchase as of September 25, 2026
2024 Repurchase ProgramJuly 22, 202420,000,000 — 
2025 Repurchase ProgramSeptember 9, 202535,000,000 32,000,000 
Summary of Share Activity
The following table summarizes the activity of the Company’s issued shares (shares in millions):
Three-Month Period EndedNine-Month Period Ended
September 25, 2026September 26, 2025September 25, 2026September 26, 2025
Common stock - shares issued:
Balance, beginning of period888.2 885.9 886.9 884.3 
Common stock-based compensation awards0.6 0.4 1.9 2.0 
Balance, end of period888.8 886.3 888.8 886.3 
Components of Stock-Based Compensation Program
The following summarizes the components of the Company’s stock-based compensation expense ($ in millions):
Three-Month Period EndedNine-Month Period Ended
September 25, 2026September 26, 2025September 25, 2026September 26, 2025
RSUs/PSUs:
Pretax compensation expense$82 $49 $182 $137 
Income tax benefit(17)(10)(37)(28)
RSU/PSU expense, net of income taxes65 39 145 109 
Stock options:
Pretax compensation expense33 34 84 98 
Income tax benefit(7)(7)(18)(20)
Stock option expense, net of income taxes26 27 66 78 
Total stock-based compensation:
Pretax compensation expense115 83 266 235 
Income tax benefit(24)(17)(55)(48)
Total stock-based compensation expense, net of income taxes$91 $66 $211 $187 
Components of Accumulated Other Comprehensive Income (Loss)
The changes in accumulated OCI by component are summarized below ($ in millions).
Foreign Currency Translation AdjustmentsPension and Postretirement Plan Benefit AdjustmentsCash Flow Hedge AdjustmentsAccumulated Comprehensive Income (Loss)
For the Three-Month Period Ended September 25, 2026:
Balance, June 26, 2026$(782)$(184)$171 $(795)
OCI before reclassifications:
Increase (decrease)(56)— (20)(76)
Income tax impact3 — — 3 
OCI before reclassifications, net of income taxes(53)— (20)(73)
Reclassification adjustments:
Increase (decrease)— 2 (a)2 (b)4 
Income tax impact— — (1)(1)
Reclassification adjustments, net of income taxes— 2 1 3 
Net OCI, net of income taxes(53)2 (19)(70)
Balance, September 25, 2026$(835)$(182)$152 $(865)
For the Three-Month Period Ended September 26, 2025:
Balance, June 27, 2025$(427)$(297)$155 $(569)
OCI before reclassifications:
Increase (decrease)(65)— 49 (16)
Income tax impact(6)— — (6)
OCI before reclassifications, net of income taxes(71)— 49 (22)
Reclassification adjustments:
Increase (decrease)— 2 (a)— (b)2 
Income tax impact— — (1)(1)
Reclassification adjustments, net of income taxes— 2 (1)1 
Net OCI, net of income taxes(71)2 48 (21)
Balance, September 26, 2025
$(498)$(295)$203 $(590)
Foreign Currency Translation AdjustmentsPension and Postretirement Plan Benefit AdjustmentsCash Flow Hedge AdjustmentsAccumulated Comprehensive Income (Loss)
For the Nine-Month Period Ended September 25, 2026:
Balance, December 31, 2025$(239)$(185)$217 $(207)
OCI before reclassifications:
Increase (decrease)(589)— 13 (576)
Income tax impact(7)— — (7)
OCI before reclassifications, net of income taxes(596)— 13 (583)
Reclassification adjustments:
Increase (decrease)— 4 (a)(77)(b)(73)
Income tax impact— (1)(1)(2)
Reclassification adjustments, net of income taxes— 3 (78)(75)
Net OCI, net of income taxes(596)3 (65)(658)
Balance, September 25, 2026$(835)$(182)$152 $(865)
For the Nine-Month Period Ended September 26, 2025:
Balance, December 31, 2024$(2,904)$(300)$(14)$(3,218)
OCI before reclassifications:
Increase (decrease)2,350 — (112)2,238 
Income tax impact56 — — 56 
OCI before reclassifications, net of income taxes2,406 — (112)2,294 
Reclassification adjustments:
Increase (decrease)— 6 (a)330 (b)336 
Income tax impact— (1)(1)(2)
Reclassification adjustments, net of income taxes— 5 329 334 
Net OCI, net of income taxes2,406 5 217 2,628 
Balance, September 26, 2025
$(498)$(295)$203 $(590)
(a) This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost (refer to Note 8 for additional details).
(b) Reflects reclassification to earnings related to cash flow hedges of certain long-term debt (refer to Note 12 for additional details).