XML 119 R97.htm IDEA: XBRL DOCUMENT v3.22.0.1
PENSION AND OTHER POSTRETIREMENT BENEFITS - Narrative (Details)
6 Months Ended 12 Months Ended
Jan. 03, 2020
USD ($)
Dec. 30, 2022
Dec. 31, 2021
USD ($)
Jan. 01, 2021
USD ($)
Jun. 28, 2019
USD ($)
Jun. 29, 2018
USD ($)
Jun. 30, 2017
USD ($)
Dec. 31, 2030
Jan. 01, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]                  
Percentage match of the employee contribution     6.00%            
Matching contributions charged to expense $ 105,000,000   $ 230,000,000 $ 225,000,000 $ 85,000,000        
Fair value of plan assets 8,892,000,000   9,924,000,000 9,600,000,000          
Projected benefit obligation 10,637,000,000   $ 10,355,000,000 11,432,000,000          
Combine gains and losses as percentage of expected year end obligations (less than)     0.01            
Accumulated benefit obligation for all defined benefit pension plans     $ 10,000,000,000            
Gain on pension plan curtailment 23,000,000   1,000,000 0 $ 0        
Pre-tax curtailment gain as result of employee terminations     $ 3,000,000            
Ultimate per capita cost of healthcare assumed (percent)     6.70%            
Employer contributions     $ 19,000,000 31,000,000          
Required employer contributions in fiscal 2022 and beyond     0            
U.S.                  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]                  
Fair value of plan assets     8,200,000,000            
Projected benefit obligation     8,600,000,000            
Pension                  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]                  
Fair value of plan assets 8,618,000,000   9,604,000,000 9,301,000,000          
Projected benefit obligation $ 10,268,000,000   10,007,000,000 $ 11,045,000,000          
Pre-tax loss on pension plan settlements     4,000,000            
Reduction in pension plan assets transferred to annuity     250,000,000            
Reduction in pension benefit obligations for plan assets transferred to annuity     $ 250,000,000            
Discount rate     2.75% 2.31%          
Cash balance interest crediting rate     3.50% 3.50%          
Expected return on plan assets rate 7.68%   7.43% 7.68% 7.66%        
Employer contributions     $ 17,000,000 $ 20,000,000          
Pension | U.S.                  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]                  
Percentage of total projected benefit obligation     86.00%            
Discount rate     2.75%            
Cash balance interest crediting rate     3.50%            
Expected return on plan assets rate     7.50%            
Employer contributions $ 302,000,000         $ 700,000,000 $ 700,000,000    
Pension | U.S. | L3                  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]                  
Cash balance benefit percentage                 1.00%
Gain on pension plan curtailment 23,000,000                
Pre-tax loss on pension plan settlements $ 5,000,000                
Frozen Equity Pension Plan | U.S.                  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]                  
Cash balance interest crediting rate     3.25%            
Forecast                  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]                  
Ultimate per capita cost of healthcare assumed (percent)               4.70%  
Forecast | U.S.                  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]                  
Expected return on plan assets rate   7.50%              
Forecast | Pension                  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]                  
Expected return on plan assets rate   7.43%              
Forecast | Pension | U.S.                  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]                  
Expected return on plan assets rate   7.50%              
Private equity funds                  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]                  
Defined benefit plans, future unfunded commitments on NAV equity funds investments     $ 504,000,000 518,000,000          
Real estate funds                  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]                  
Defined benefit plans, future unfunded commitments on NAV equity funds investments     $ 100,000,000 0          
Minimum redemption notice period permitted on NAV equity funds investments     90 days            
Alternative investments                  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]                  
Defined benefit plans, future unfunded commitments on NAV equity funds investments     $ 0 $ 0          
Minimum redemption notice period permitted on NAV equity funds investments     90 days