Shareholders' Equity (Tables)

12 Months Ended

Jan. 02, 2021

Outstanding common stock activity is presented below:


(In thousands)	2020	2019	2018
Balance at beginning of year	227,956	235,621	261,471
Share repurchases	(4,145)	(10,011)	(29,094)
Share-based compensation activity	2,633	2,346	3,244
Balance at end of year	226,444	227,956	235,621

Schedule of Weighted-Average Shares Outstanding for Basic and Diluted EPS

The weighted-average shares outstanding for basic and diluted EPS are as follows:


(In thousands)	2020	2019	2018
Basic weighted-average shares outstanding	228,536	231,315	250,196
Dilutive effect of stock options	443	1,394	3,041
Diluted weighted-average shares outstanding	228,979	232,709	253,237

Schedule of Components of Accumulated Other Comprehensive Loss

The components of Accumulated other comprehensive loss are presented below:


(In millions)	Pension and Postretirement Benefits Adjustments		Foreign Currency Translation Adjustments		Deferred Gains (Losses) on Hedge Contracts		Accumulated Other Comprehensive Loss
Balance at December 29, 2018	$	(1,727)	$	(32)	$	(3)	$	(1,762)
Other comprehensive loss before reclassifications	(166)		(4)		5		(165)
Reclassified from Accumulated other comprehensive loss	82		—		(2)		80
Balance at January 4, 2020	$	(1,811)	$	(36)	$	—	$	(1,847)
Other comprehensive loss before reclassifications	(115)		78		3		(34)
Reclassified from Accumulated other comprehensive loss	146		—		(4)		142
Balance at January 2, 2021	$	(1,780)	$	42	$	(1)	$	(1,739)

Schedule of Before and After Tax Components of Other Comprehensive Income (Loss)

The before and after-tax components of other comprehensive income (loss) are presented below:


	2020						2019						2018
(In millions)	Pre-Tax Amount		Tax (Expense) Benefit		After- Tax Amount		Pre-Tax Amount		Tax (Expense) Benefit		After- Tax Amount		Pre-Tax Amount		Tax (Expense) Benefit		After- Tax Amount
Pension and postretirement benefits adjustments:
Unrealized losses	$	(144)	$	35	$	(109)	$	(218)	$	52	$	(166)	$	(248)	$	58	$	(190)
Amortization of net actuarial loss*	184		(43)		141		99		(23)		76		152		(35)		117
Amortization of prior service cost*	6		(1)		5		8		(2)		6		9		(2)		7
Recognition of prior service cost	(8)		2		(6)		—		—		—		(20)		5		(15)
Business disposition	—		—		—		—		—		—		7		—		7
Pension and postretirement benefits adjustments, net	38		(7)		31		(111)		27		(84)		(100)		26		(74)
Foreign currency translation adjustments:
Foreign currency translation adjustments	81		(3)		78		(6)		2		(4)		(46)		(3)		(49)
Business disposition	—		—		—		—		—		—		6		—		6
Foreign currency translation adjustments, net	81		(3)		78		(6)		2		(4)		(40)		(3)		(43)
Deferred gains (losses) on hedge contracts:
Current deferrals	4		(1)		3		8		(3)		5		(8)		—		(8)
Reclassification adjustments	(6)		2		(4)		(2)		—		(2)		(7)		2		(5)
Deferred gains (losses) on hedge contracts, net	(2)		1		(1)		6		(3)		3		(15)		2		(13)
Total	$	117	$	(9)	$	108	$	(111)	$	26	$	(85)	$	(155)	$	25	$	(130)

* These components of other comprehensive income (loss) are included in the computation of net periodic pension cost. See Note 16 for additional information.