LEASES (Tables)

12 Months Ended

Dec. 29, 2023

Leases [Abstract]

Schedule of Lease Expense and Supplemental Lease Information

The components of lease costs are as follows:

	Fiscal Year Ended
(In millions)	December 29, 2023		December 30, 2022		December 31, 2021
Operating lease cost	$	163	$	151	$	172
Short-term and equipment lease cost	23		21		20
Variable lease cost	26		25		20
Other, net(1)	11		6		3
Total lease cost	$	223	$	203	$	215

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(1) Consists of finance lease amortization and interest costs as well as sublease income.

Other supplemental lease information for fiscal 2023 and 2022 is as follows:

	Fiscal Year Ended
(In millions, except lease term and discount rate)	December 29, 2023			December 30, 2022
Cash paid for amounts included in the measurement of lease liabilities
Net cash provided by operating activities - operating lease payments	$	159		$	148
Net cash provided by operating activities - finance lease interest payments	7			5
Net cash provided by financing activities - finance lease obligation payments	6			4
Assets obtained in exchange for new lease obligations
ROU assets obtained with operating leases	$	144		$	123
Property, plant and equipment obtained with finance leases	68			20
Weighted average remaining lease term (in years)
Operating leases	8.3			9.3
Finance leases	17.7			21.3
Weighted average discount rate
Operating leases	3.9		%	3.5		%
Finance leases	4.3		%	3.4		%

Schedule of Supplemental Balance Sheet Information

Supplemental operating and finance lease balance sheet information at December 29, 2023 and December 30, 2022 is as follows:

(In millions)	December 29, 2023		December 30, 2022
Operating Leases
Other non-current assets	$	743	$	756
Other accrued items	120		121
Other long-term liabilities	705		741
Total operating lease liabilities	$	825	$	862
Finance Leases
Property, plant and equipment	$	243	$	170
Accumulated amortization	(25)		(15)
Property, plant and equipment, net	$	218	$	155
Current portion of long-term debt, net	$	8	$	5
Long-term debt, net	243		165
Total finance lease liabilities	$	251	$	170

Supplemental Lease Information

Schedule of Future Lease Payments Under Non-cancelable Operating Leases

Payments under non-cancelable operating and finance leases at December 29, 2023 were as follows:

(In millions)	Operating Leases		Finance Leases
2024	$	163	$	19
2025	142		41
2026	110		18
2027	103		17
2028	97		18
Thereafter	345		233
Total future lease payments required(1)	960		346
Less: imputed interest	135		95
Total	$	825	$	251

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(1)On December 29, 2023, we had additional future payments on leases of $307 million that had not yet commenced. These leases will commence between 2024 and 2025, and have lease terms of 4 years to 15 years.

Schedule of Future Lease Payments Under Non-cancelable Finance Leases

Payments under non-cancelable operating and finance leases at December 29, 2023 were as follows:

(In millions)	Operating Leases		Finance Leases
2024	$	163	$	19
2025	142		41
2026	110		18
2027	103		17
2028	97		18
Thereafter	345		233
Total future lease payments required(1)	960		346
Less: imputed interest	135		95
Total	$	825	$	251

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(1)On December 29, 2023, we had additional future payments on leases of $307 million that had not yet commenced. These leases will commence between 2024 and 2025, and have lease terms of 4 years to 15 years.