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Shareholders' Equity
 9 Months Ended
Oct. 01, 2022
Equity [Abstract]  
Shareholders' Equity Shareholders’ Equity
A reconciliation of Shareholders’ equity is presented below:
(In millions)Common
Stock		Capital
Surplus		Treasury
Stock		Retained
Earnings		Accumulated
Other
Comprehensive
Loss		Total
Shareholders'
Equity
Three months ended October 1, 2022
Beginning of period$28 $1,953 $(596)$6,271 $(855)$6,801 
Net income— — — 225 — 225 
Other comprehensive loss— — — — (87)(87)
Share-based compensation activity— 27 — — — 27 
Dividends declared— — — (4)— (4)
Purchases of common stock— — (200)— — (200)
End of period$28 $1,980 $(796)$6,492 $(942)$6,762 
Three months ended October 2, 2021
Beginning of period$29 $1,920 $(490)$6,318 $(1,676)$6,101 
Net income— — — 185 — 185 
Other comprehensive income— — — — 6 6 
Share-based compensation activity— 49 — — — 49 
Dividends declared— — — (5)— (5)
Purchases of common stock— — (299)— — (299)
End of period$29 $1,969 $(789)$6,498 $(1,670)$6,037 
Nine months ended October 1, 2022
Beginning of period$28 $1,863 $(157)$5,870 $(789)$6,815 
Net income— — — 635 — 635 
Other comprehensive loss— — — — (153)(153)
Share-based compensation activity— 117 — — — 117 
Dividends declared— — — (13)— (13)
Purchases of common stock— — (639)— — (639)
End of period$28 $1,980 $(796)$6,492 $(942)$6,762 
Nine months ended October 2, 2021
Beginning of period$29 $1,785 $(203)$5,973 $(1,739)$5,845 
Net income— — — 539 — 539 
Other comprehensive income— — — — 69 69 
Share-based compensation activity— 184 — — — 184 
Dividends declared— — — (14)— (14)
Purchases of common stock— — (586)— — (586)
End of period$29 $1,969 $(789)$6,498 $(1,670)$6,037 
Dividends per share of common stock were $0.02 for both the third quarter of 2022 and 2021 and $0.06 for both the first nine months of 2022 and 2021.
Earnings Per Share
We calculate basic and diluted earnings per share (EPS) based on net income, which approximates income available to common shareholders for each period.  Basic EPS is calculated using the two-class method, which includes the weighted-average number of common shares outstanding during the period and restricted stock units to be paid in stock that are deemed participating securities as they provide nonforfeitable rights to dividends. Diluted EPS considers the dilutive effect of all potential future common stock, including stock options.  
The weighted-average shares outstanding for basic and diluted EPS are as follows:
Three Months EndedNine Months Ended
(In thousands)October 1,
2022		October 2,
2021		October 1,
2022		October 2,
2021
Basic weighted-average shares outstanding211,307 223,663 214,301 225,545 
Dilutive effect of stock options1,833 2,827 2,167 2,250 
Diluted weighted-average shares outstanding213,140 226,490 216,468 227,795 
For both the third quarter and first nine months of 2022, stock options to purchase 1.0 million shares of common stock were excluded from the calculation of diluted weighted-average shares outstanding as their effect would have been anti-dilutive. For the first nine months of 2021, stock options to purchase 1.4 million shares of common stock were excluded from the calculation of diluted weighted-average shares outstanding as their effect would have been anti-dilutive.
Accumulated Other Comprehensive Loss and Other Comprehensive Income (Loss)
The components of Accumulated other comprehensive loss are presented below:
(In millions)Pension and
Postretirement
Benefits
Adjustments		Foreign
Currency
Translation
Adjustments		Deferred
Gains (Losses)
on Hedge
Contracts		Accumulated
Other
Comprehensive
Loss
Balance at January 1, 2022$(799)$9 $1 $(789)
Other comprehensive loss before reclassifications— (201)(4)(205)
Reclassified from Accumulated other comprehensive loss52 — — 52 
Balance at October 1, 2022$(747)$(192)$(3)$(942)
Balance at January 2, 2021$(1,780)$42 $(1)$(1,739)
Other comprehensive loss before reclassifications— (36)2 (34)
Reclassified from Accumulated other comprehensive loss90 14 (1)103 
Balance at October 2, 2021$(1,690)$20 $— $(1,670)
The before and after-tax components of Other comprehensive income (loss) are presented below:
October 1, 2022October 2, 2021
(In millions)Pre-Tax
Amount		Tax
(Expense)
Benefit		After-tax
Amount		Pre-Tax
Amount		Tax
(Expense)
Benefit		After-tax
Amount
Three Months Ended
Pension and postretirement benefits adjustments:
Amortization of net actuarial loss*$21 $(4)$17 $38 $(9)$29 
Amortization of prior service cost*2 (1)1 2 (1)1 
Pension and postretirement benefits adjustments, net23 (5)18 40 (10)30 
Foreign currency translation adjustments(97)— (97)(19)— (19)
Deferred losses on hedge contracts:
Current deferrals(11)3 (8)(6)2 (4)
Reclassification adjustments— — — (1)— (1)
Deferred losses on hedge contracts, net(11)3 (8)(7)2 (5)
Total$(85)$(2)$(87)$14 $(8)$6 
Nine Months Ended
Pension and postretirement benefits adjustments:
Amortization of net actuarial loss*$63 $(15)$48 $114 $(27)$87 
Amortization of prior service cost*6 (2)4 6 (3)3 
Pension and postretirement benefits adjustments, net69 (17)52 120 (30)90 
Foreign currency translation adjustments:
Foreign currency translation adjustments(201)— (201)(36)— (36)
Business disposition— — — 14 — 14 
Foreign currency translation adjustments, net(201)— (201)(22)— (22)
Deferred gains (losses) on hedge contracts:
Current deferrals(6)2 (4)1 1 2 
Reclassification adjustments— — — (1)— (1)
Deferred gains (losses) on hedge contracts, net(6)2 (4)— 1 1 
Total$(138)$(15)$(153)$98 $(29)$69 
*These components of other comprehensive income (loss) are included in the computation of net periodic pension cost (income). See Note 15 of our 2021 Annual Report on Form 10-K for additional information