v3.26.3
Shareholders' Equity (Tables)
 9 Months Ended
Oct. 03, 2026
Equity [Abstract]  
Schedule of Shareholder's Equity
A reconciliation of Shareholders’ equity is presented below:
(In millions)Common
Stock		Capital
Surplus		Treasury
Stock		Retained
Earnings		Accumulated
Other
Comprehensive
Income (Loss)		Total
Shareholders'
Equity
Three months ended October 3, 2026
Beginning of period$22 $2,126 $(434)$6,245 $95 $8,054 
Net income— — — 270 — 270 
Other comprehensive income— — — — 1 1 
Share-based compensation activity— 35 — — — 35 
Dividends declared— — — (3)— (3)
Purchases of common stock, including excise tax*— — (241)— — (241)
End of period$22 $2,161 $(675)$6,512 $96 $8,116 
Three months ended September 27, 2025
Beginning of period$23 $2,041 $(514)$6,052 $(169)$7,433 
Net income— — — 234 — 234 
Other comprehensive loss— — — — (4)(4)
Share-based compensation activity— 42 — — — 42 
Dividends declared— — — (4)— (4)
Purchases of common stock, including excise tax*— — (208)— — (208)
End of period$23 $2,083 $(722)$6,282 $(173)$7,493 
Nine months ended October 3, 2026
Beginning of period$22 $1,995 $(55)$5,784 $129 $7,875 
Net income— — — 738 — 738 
Other comprehensive loss— — — — (33)(33)
Share-based compensation activity— 166 — — — 166 
Dividends declared— — — (10)— (10)
Purchases of common stock, including excise tax*— — (620)— — (620)
End of period$22 $2,161 $(675)$6,512 $96 $8,116 
Nine months ended September 27, 2025
Beginning of period$23 $1,960 $(82)$5,607 $(304)$7,204 
Net income— — — 686 — 686 
Other comprehensive income— — — — 131 131 
Share-based compensation activity— 123 — — — 123 
Dividends declared— — — (11)— (11)
Purchases of common stock, including excise tax*— — (640)— — (640)
End of period$23 $2,083 $(722)$6,282 $(173)$7,493 
* Includes amounts accrued for excise tax imposed on common share repurchases that totaled $2 million and $4 million for the third quarter and first nine months of 2026, respectively, and $2 million and $5 million for the third quarter and first nine months of 2025, respectively.
Schedule of Weighted-Average Shares Outstanding for Basic and Diluted EPS
The weighted-average shares outstanding for basic and diluted EPS are as follows:
Three Months EndedNine Months Ended
(In thousands)October 3,
2026		September 27,
2025		October 3,
2026		September 27,
2025
Basic weighted-average shares outstanding171,269 177,677 173,111 180,005 
Dilutive effect of stock options1,263 1,473 1,461 1,298 
Diluted weighted-average shares outstanding172,532 179,150 174,572 181,303 
Schedule of Components of Accumulated Other Comprehensive Income (Loss)
The components of Accumulated other comprehensive income (loss) are presented below:
(In millions)Pension and
Postretirement
Benefits
Adjustments		Foreign
Currency
Translation
Adjustments		Deferred
Gains (Losses)
on Hedge
Contracts		Accumulated
Other
Comprehensive
Income (Loss)
Balance at January 3, 2026$119 $12 $(2)$129 
Other comprehensive loss before reclassifications— (32)(3)(35)
Reclassified from Accumulated other comprehensive income2 — — 2 
Balance at October 3, 2026$121 $(20)$(5)$96 
Balance at December 28, 2024$(179)$(120)$(5)$(304)
Other comprehensive income before reclassifications— 132 (2)130 
Reclassified from Accumulated other comprehensive loss— (2)3 1 
Balance at September 27, 2025$(179)$10 $(4)$(173)
Schedule of Before and After-Tax Components of Other Comprehensive Income (Loss)
The before and after-tax components of Other comprehensive income (loss) are presented below:
October 3, 2026September 27, 2025
(In millions)Pre-Tax
Amount		Tax
(Expense)
Benefit		After-tax
Amount		Pre-Tax
Amount		Tax
(Expense)
Benefit		After-tax
Amount
Three Months Ended
Pension and postretirement benefits adjustments:
Amortization of net actuarial gain*$(3)$1 $(2)$(2)$— $(2)
Amortization of prior service cost*3 (1)2 2 — 2 
Pension and postretirement benefits adjustments, net— — — — — — 
Foreign currency translation adjustments(2)— (2)(1)— (1)
Deferred gains (losses) on hedge contracts:
Current deferrals4 — 4 (7)2 (5)
Reclassification adjustments2 (3)(1)2 — 2 
Deferred gains (losses) on hedge contracts, net6 (3)3 (5)2 (3)
Total$4 $(3)$1 $(6)$2 $(4)
Nine Months Ended
Pension and postretirement benefits adjustments:
Amortization of net actuarial gain*$(8)$3 $(5)$(6)$1 $(5)
Amortization of prior service cost*9 (2)7 6 (1)5 
Pension and postretirement benefits adjustments, net1 1 2 — — — 
Foreign currency translation adjustments:
Foreign currency translation adjustments(32)— (32)132 — 132 
Business disposition— — — (2)— (2)
Foreign currency translation adjustments, net(32)— (32)130 — 130 
Deferred gains (losses) on hedge contracts:
Current deferrals(5)2 (3)(2)— (2)
Reclassification adjustments7 (7)— 4 (1)3 
Deferred gains (losses) on hedge contracts, net2 (5)(3)2 (1)1 
Total$(29)$(4)$(33)$132 $(1)$131 
* These components of other comprehensive income (loss) are included in the computation of net periodic pension cost (income). See Note 14 of our 2025 Annual Report on Form 10-K for additional information.