| Accumulated Other Comprehensive Loss |
Accumulated Other Comprehensive Loss The following tables summarize the changes in the accumulated balances for each component of Accumulated other comprehensive loss during the fiscal three and nine months ended September 27, 2026 and September 28, 2025:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in Millions) | | Foreign Currency Translation | | Employee Benefit Plans | | (Loss) Gain on Derivatives and Hedges(1) | | | | Total Accumulated Other Comprehensive Loss | | June 28, 2026 | | $ | (5,230) | | | $ | (121) | | | $ | (3) | | | | | $ | (5,354) | | | Other comprehensive (loss) income before reclassifications | | (55) | | | — | | | (10) | | | | | (65) | | Amounts reclassified to the Condensed Consolidated Statement of Operations | | — | | | 1 | | | 10 | | | | | 11 | | | Net current period Other comprehensive (loss) income | | (55) | | | 1 | | | — | | | | | (54) | | | September 27, 2026 | | $ | (5,285) | | | $ | (120) | | | $ | (3) | | | | | $ | (5,408) | | | | | | | | | | | | | | June 29, 2025 | | $ | (4,975) | | | $ | (138) | | | $ | 41 | | | | | $ | (5,072) | | | Other comprehensive (loss) income before reclassifications | | (65) | | — | | 9 | | | | | (56) | | Amounts reclassified to the Condensed Consolidated Statement of Operations | | — | | | 7 | | | (9) | | | | | (2) | | | Net current period Other comprehensive (loss) income | | (65) | | | 7 | | | — | | | | | (58) | | | September 28, 2025 | | $ | (5,040) | | | $ | (131) | | | $ | 41 | | | | | $ | (5,130) | |
(1) For each of the fiscal three months ended September 27, 2026 and September 28, 2025, the Company recorded a total after-tax change in Accumulated other comprehensive loss of $0 million related to its cash flow hedge portfolio. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in Millions) | | Foreign Currency Translation | | Employee Benefit Plans | | Gain (Loss) on Derivatives and Hedges(1) | | | | Total Accumulated Other Comprehensive Loss | | December 28, 2025 | | $ | (4,862) | | | $ | (125) | | | $ | 28 | | | | | $ | (4,959) | | | Other comprehensive (loss) income before reclassifications | | (423) | | | 2 | | | (35) | | | | | (456) | | Amounts reclassified to the Condensed Consolidated Statement of Operations | | — | | | 3 | | | 4 | | | | | 7 | | | Net current period Other comprehensive (loss) income | | (423) | | | 5 | | | (31) | | | | | (449) | | | September 27, 2026 | | $ | (5,285) | | | $ | (120) | | | $ | (3) | | | | | $ | (5,408) | | | | | | | | | | | | | | December 29, 2024 | | $ | (6,040) | | | $ | (130) | | | $ | 24 | | | | | $ | (6,146) | | | Other comprehensive income (loss) before reclassifications | | 1,000 | | | (10) | | | 41 | | | | | 1,031 | | Amounts reclassified to the Condensed Consolidated Statement of Operations | | — | | | 9 | | | (24) | | | | | (15) | | | Net current period Other comprehensive income (loss) | | 1,000 | | | (1) | | | 17 | | | | | 1,016 | | | September 28, 2025 | | $ | (5,040) | | | $ | (131) | | | $ | 41 | | | | | $ | (5,130) | |
(1) For the fiscal nine months ended September 27, 2026 and September 28, 2025, the Company recorded a total after-tax change in Accumulated other comprehensive loss of $(31) million and $17 million, respectively, related to its cash flow hedge portfolio.
Amounts in Accumulated other comprehensive loss are presented net of the related tax impact. Foreign currency translation is not adjusted for income taxes where it relates to permanent investments in international operations. For additional details on comprehensive income, see the Condensed Consolidated Statements of Comprehensive Income.
The provision (benefit) for taxes allocated to the components of Accumulated other comprehensive loss before reclassification for the fiscal three and nine months ended September 27, 2026 and September 28, 2025 was as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fiscal Three Months Ended | | | | | | | | | | | | | | Fiscal Nine Months Ended | | (Dollars in Millions) | | September 27, 2026 | | September 28, 2025 | | | | | | | | | | | | | | September 27, 2026 | | September 28, 2025 | | | | Foreign currency translation | | $ | (1) | | | $ | 8 | | | | | | | | | | | | | | | $ | 14 | | | $ | (15) | | | | | Employee benefit plans | | — | | | 1 | | | | | | | | | | | | | | | 1 | | | (3) | | | | | (Loss) gain on derivatives and hedges | | (2) | | | 2 | | | | | | | | | | | | | | | (8) | | | 8 | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total (benefit) provision for taxes recognized in Accumulated other comprehensive loss | | $ | (3) | | | $ | 11 | | | | | | | | | | | | | | | $ | 7 | | | $ | (10) | | | |
The provision (benefit) for taxes allocated to the reclassifications from Accumulated other comprehensive loss to the Condensed Consolidated Statements of Operations was not significant for the fiscal three and nine months ended September 27, 2026 and September 28, 2025.
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