ACCUMULATED OTHER COMPREHENSIVE LOSS ("AOCL")

12 Months Ended

Dec. 29, 2023

ACCUMULATED OTHER COMPREHENSIVE LOSS ("AOCL")

NOTE 12: ACCUMULATED OTHER COMPREHENSIVE LOSS (“AOCL”)

The components of AOCL are summarized below:


(In millions)	Foreign currency translation		Net unrealized losses on hedging derivatives		Unrecognized postretirement obligations		Total AOCL

Balance at December 30, 2022	$	(237)	$	(79)	$	28	$	(288)
Other comprehensive income, before reclassifications to earnings and income taxes	36		14		95		145
Income taxes	—		(4)		(24)		(28)
Other comprehensive income before reclassifications to earnings, net of income taxes	36		10		71		117
Losses (gains) reclassified to earnings, before income taxes(1)	—		5		(41)		(36)
Income taxes	—		(1)		10		9
Losses (gains) reclassified to earnings, net of income taxes	—		4		(31)		(27)
Other comprehensive income, net of income taxes	36		14		40		90
Balance at December 29, 2023	$	(201)	$	(65)	$	68	$	(198)

Balance at December 31, 2021	$	(118)	$	(89)	$	61	$	(146)
Other comprehensive loss, before reclassifications to earnings and income taxes	(124)		(10)		(33)		(167)
Income taxes	5		2		7		14
Other comprehensive loss before reclassifications to earnings, net of income taxes	(119)		(8)		(26)		(153)
Losses (gains) reclassified to earnings, before income taxes(1)	—		22		(9)		13
Income taxes	—		(4)		2		(2)
Losses (gains) reclassified to earnings, net of income taxes	—		18		(7)		11
Other comprehensive (loss) income, net of income taxes	(119)		10		(33)		(142)
Balance at December 30, 2022	$	(237)	$	(79)	$	28	$	(288)

Balance at January 1, 2021	$	(58)	$	(80)	$	(701)	$	(839)
Other comprehensive (loss) income, before reclassifications to earnings and income taxes	(63)		(4)		1,013		946
Income taxes	—		1		(255)		(254)
Other comprehensive (loss) income before reclassifications to earnings, net of income taxes	(63)		(3)		758		692
Losses (gains) reclassified to earnings, before income taxes(1)	3		(8)		6		1
Income taxes	—		2		(2)		—
Losses (gains) reclassified to earnings, net of income taxes	3		(6)		4		1
Other comprehensive (loss) income, net of income taxes	(60)		(9)		762		693
Balance at December 31, 2021	$	(118)	$	(89)	$	61	$	(146)

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(1)Losses (gains) reclassified to earnings are included in the “Revenue”, “Asset group and business divestiture-related (losses) gains, net,” “Interest expense, net” and “Non-service FAS pension income and other, net” line items in our Consolidated Statement of Operations.