Shareholders' Equity (Tables)

6 Months Ended

Jun. 29, 2019

Schedule of Shareholder's equity

									Accumulated
									Other		Total
	Common		Capital		Treasury		Retained		Comprehensive		Shareholders’
(In millions)	Stock		Surplus		Stock		Earnings		Loss		Equity
Three months ended June 29, 2019
Beginning of period	$	30	$	1,689	$	(331)	$	5,581	$	(1,736)	$	5,233
Net income		—		—		—		217		—		217
Other comprehensive income		—		—		—		—		21		21
Share-based compensation activity		—		28		—		—		—		28
Dividends declared		—		—		—		(4)		—		(4)
Purchases of common stock		—		—		(159)		—		—		(159)
End of period	$	30	$	1,717	$	(490)	$	5,794	$	(1,715)	$	5,336
Three months ended June 30, 2018
Beginning of period	$	33	$	1,710	$	(392)	$	5,642	$	(1,301)	$	5,692
Net income		—		—		—		224		—		224
Other comprehensive (loss)		—		—		—		—		(42)		(42)
Share-based compensation activity		—		64		—		—		—		64
Dividends declared		—		—		—		(5)		—		(5)
Purchases of common stock		—		—		(571)		—		—		(571)
End of period	$	33	$	1,774	$	(963)	$	5,861	$	(1,343)	$	5,362
Six months ended June 29, 2019
Beginning of period	$	30	$	1,646	$	(129)	$	5,407	$	(1,762)	$	5,192
Net income		—		—		—		396		—		396
Other comprehensive income		—		—		—		—		47		47
Share-based compensation activity		—		71		—		—		—		71
Dividends declared		—		—		—		(9)		—		(9)
Purchases of common stock		—		—		(361)		—		—		(361)
End of period	$	30	$	1,717	$	(490)	$	5,794	$	(1,715)	$	5,336
Six months ended June 30, 2018
Beginning of period	$	33	$	1,669	$	(48)	$	5,368	$	(1,375)	$	5,647
Adoption of ASC 606		—		—		—		90		—		90
Net income		—		—		—		413		—		413
Other comprehensive income		—		—		—		—		32		32
Share-based compensation activity		—		105		—		—		—		105
Dividends declared		—		—		—		(10)		—		(10)
Purchases of common stock		—		—		(915)		—		—		(915)
End of period	$	33	$	1,774	$	(963)	$	5,861	$	(1,343)	$	5,362

Schedule of weighted-average shares outstanding for basic and diluted EPS

	Three Months Ended		Six Months Ended
	June 29,	June 30,	June 29,	June 30,
(In thousands)	2019	2018	2019	2018
Basic weighted-average shares outstanding	232,013	253,904	233,426	257,200
Dilutive effect of stock options	1,532	3,273	1,567	3,262
Diluted weighted-average shares outstanding	233,545	257,177	234,993	260,462

Schedule of components of Accumulated Other Comprehensive Loss

	Pension and		Foreign		Deferred		Accumulated
	Postretirement		Currency		Gains (Losses)		Other
	Benefits		Translation		on Hedge		Comprehensive
(In millions)	Adjustments		Adjustments		Contracts		Loss
Balance at December 29, 2018	$	(1,727)	$	(32)	$	(3)	$	(1,762)
Other comprehensive income before reclassifications		—		4		4		8
Reclassified from Accumulated other comprehensive loss		41		—		(2)		39
Balance at June 29, 2019	$	(1,686)	$	(28)	$	(1)	$	(1,715)
Balance at December 30, 2017	$	(1,396)	$	11	$	10	$	(1,375)
Other comprehensive income before reclassifications		—		(27)		(2)		(29)
Reclassified from Accumulated other comprehensive loss		62		—		(1)		61
Balance at June 30, 2018	$	(1,334)	$	(16)	$	7	$	(1,343)

Schedule of before and after-tax components of other comprehensive income (loss)

	June 29, 2019						June 30, 2018
			Tax						Tax
	Pre-Tax		(Expense)		After-Tax		Pre-Tax		(Expense)		After-Tax
(In millions)	Amount		Benefit		Amount		Amount		Benefit		Amount
Three Months Ended
Pension and postretirement benefits adjustments:
Amortization of net actuarial loss*	$	24	$	(6)	$	18	$	39	$	(9)	$	30
Amortization of prior service cost*		3		(1)		2		2		(1)		1
Pension and postretirement benefits adjustments, net		27		(7)		20		41		(10)		31
Deferred gains (losses) on hedge contracts:
Current deferrals		2		(1)		1		(4)		1		(3)
Reclassification adjustments		(1)		—		(1)		(1)		—		(1)
Deferred gains (losses) on hedge contracts, net		1		(1)		—		(5)		1		(4)
Foreign currency translation adjustments		3		(2)		1		(66)		(3)		(69)
Total	$	31	$	(10)	$	21	$	(30)	$	(12)	$	(42)
Six Months Ended
Pension and postretirement benefits adjustments:
Amortization of net actuarial loss*	$	49	$	(11)	$	38	$	77	$	(18)	$	59
Amortization of prior service cost*		4		(1)		3		4		(1)		3
Pension and postretirement benefits adjustments, net		53		(12)		41		81		(19)		62
Deferred gains (losses) on hedge contracts:
Current deferrals		6		(2)		4		(2)		—		(2)
Reclassification adjustments		(2)		—		(2)		(1)		—		(1)
Deferred gains (losses) on hedge contracts, net		4		(2)		2		(3)		—		(3)
Foreign currency translation adjustments		4		—		4		(26)		(1)		(27)
Total	$	61	$	(14)	$	47	$	52	$	(20)	$	32

*These components of other comprehensive income are included in the computation of net periodic pension cost.  See Note 14 of our 2018 Annual Report on Form 10-K for additional information.