ACCUMULATED OTHER COMPREHENSIVE LOSS ("AOCL")

3 Months Ended

Mar. 29, 2024

ACCUMULATED OTHER COMPREHENSIVE LOSS ("AOCL")

NOTE J: 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 29, 2023	$	(201)	$	(65)	$	68	$	(198)
Other comprehensive loss, before reclassifications to earnings and income taxes	(26)		(4)		—		(30)
Income taxes	—		1		—		1
Other comprehensive loss before reclassifications to earnings, net of income taxes	(26)		(3)		—		(29)
Losses (gains) reclassified to earnings, before income taxes	—		3		(12)		(9)
Income taxes	—		(1)		3		2
Losses (gains) reclassified to earnings, net of income taxes(1)	—		2		(9)		(7)
Other comprehensive loss, net of income taxes	(26)		(1)		(9)		(36)
Balance at March 29, 2024	$	(227)	$	(66)	$	59	$	(234)

Balance at December 30, 2022	$	(237)	$	(79)	$	28	$	(288)
Other comprehensive income, before reclassifications to earnings and income taxes	7		6		—		13
Income taxes	—		(1)		—		(1)
Other comprehensive income before reclassifications to earnings, net of income taxes	7		5		—		12
Gains reclassified to earnings, before income taxes	—		(2)		(14)		(16)
Income taxes	—		1		3		4
Gains reclassified to earnings, net of income taxes(1)	—		(1)		(11)		(12)
Other comprehensive income (loss), net of income taxes	7		4		(11)		—
Balance at March 31, 2023	$	(230)	$	(75)	$	17	$	(288)

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