v3.26.3
Financial Instruments - Derivative Financial Instruments and Hedging Activities (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 27, 2026
Sep. 28, 2025
Sep. 27, 2026
Sep. 28, 2025
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Amount of Gains/(Losses) Recognized in OID [1] $ 12 $ 15 $ (34) $ 103
Derivative, Amount of Gains/(Losses), Cash Flow Hedge, Recognized in OCI 104 (1) 189 (396)
Amount of Gains/(Losses) Recognized in OCI [1] 175 181 747 (1,528)
Derivative, Amount of Gains/(Losses) Reclassified from OCI into OID and COS [2] 42 (177) 44 242
Amount of Gains/(Losses) Reclassified from OCI into OID and COS [1] 102 (120) 217 392
Designated as Hedging Instrument [Member] | Foreign currency long-term debt [Member]        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Non-Derivative, Amount of Gains/(Losses) Recognized in OCI [1],[3] 0 5 (2) (97)
Non-Derivative, Amount of Gains/(Losses) Reclassified from OCI into OID and COS [1],[3] 0 0 0 0
Designated as Hedging Instrument [Member] | Foreign currency short-term borrowings [Member]        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Non-Derivative, Amount of Gains/(Losses) Recognized in OCI [1],[3] 2 0 28 0
Non-Derivative, Amount of Gains/(Losses) Reclassified from OCI into OID and COS [1],[3] 0 0 0 0
Derivative Financial Instruments Not Designated as Hedges [Member] | Foreign exchange contracts [Member]        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Derivative, Amount of Gains/(Losses) Recognized in OID [1] 10 15 (34) 103
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Interest rate contracts [Member]        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Derivative, Amount of Gains/(Losses), Cash Flow Hedge, Recognized in OCI [1] 0 0 0 0
Derivative, Amount of Gains/(Losses) Reclassified from OCI into OID and COS [1] 0 0 0 0
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign exchange contracts [Member]        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Derivative, Amount of Gains/(Losses), Cash Flow Hedge, Recognized in OCI [1],[4] 99 (11) 160 (438)
Derivative, Amount of Gains/(Losses) Recognized in OCI, excluded from effectiveness testing and amortized into earnings [1],[5] 5 10 29 42
Derivative, Amount of Gains/(Losses) Reclassified from OCI into OID and COS [1],[4] 36 (187) 14 200
Derivative, Amount of Gains/(Losses) Reclassified from OCI into OID and COS, excluded from effectiveness testing [1],[5] 6 10 29 42
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Interest rate contracts [Member]        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Derivative, Amount of Gains/(Losses), Fair Value Hedge, Recognized in OID [1] (478) 13 (574) 228
Derivative, Amount of Gains/(Losses), Hedged Item, Recognized in OID [1] 480 (13) 574 (228)
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign exchange contracts [Member]        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Derivative, Amount of Gains/(Losses) Recognized in OCI, excluded from effectiveness testing and amortized into earnings [1],[5] 57 89 110 237
Derivative, Amount of Gains/(Losses), Net Investment Hedge, Recognized in OCI [1] 12 88 422 (1,273)
Derivative, Amount of Gains/(Losses) Reclassified from OCI into OID and COS, excluded from effectiveness testing [1],[5] 60 56 173 150
Derivative, Amount of Gains/(Losses) Reclassified from OCI into OID and COS [1] $ 0 $ 0 $ 0 $ 0
[1] OID = Other (income)/deductions—net, included in Other (income)/deductions—net in the condensed consolidated statements of operations. COS = Cost of Sales, included in Cost of sales in the condensed consolidated statements of operations. OCI = Other comprehensive income/(loss), included in the condensed consolidated statements of comprehensive income/(loss).
[2] Reclassified into Other (income)/deductions—net and Cost of sales. See Note 7E.
[3] Long-term debt includes foreign currency borrowings, which are used in net investment hedges; the related carrying values as of September 27, 2026 and December 31, 2025 were $854 million and $879 million, respectively.
[4] The amounts reclassified from OCI into COS were:
•a net gain of $14 million in the third quarter of 2026;
•a net loss of $6 million in the first nine months of 2026;
•a net loss of $23 million in the third quarter of 2025; and
•a net gain of $69 million in the first nine months of 2025.
The remaining amounts were reclassified from OCI into OID. Based on quarter-end foreign exchange rates that are subject to change, we expect to reclassify a pre-tax gain of $53 million within the next 12 months into income. The maximum length of time over which we are hedging our exposure to the variability in future foreign exchange cash flows is approximately 17 years and relates to foreign currency debt.
[5] The amounts reclassified from OCI were reclassified into OID.