General (Tables)

3 Months Ended

Apr. 02, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Components Of Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) by component are summarized below ($ in millions). Foreign currency translation adjustments generally relate to indefinite investments in non-U.S. subsidiaries, as well as the impact from the Company’s hedges of its net investment in foreign operations, including the Company’s cross-currency swap derivatives, net of any income tax impacts.

	Foreign Currency Translation Adjustments		Pension and Postretirement Plan Benefit Adjustments			Unrealized Gain (Loss) on Available-For-Sale Securities Adjustments		Cash Flow Hedge Adjustments			Total
For the Three-Month Period Ended April 2, 2021:
Balance, December 31, 2020	$	745	$	(928)		$	—	$	(185)		$	(368)
Other comprehensive income (loss) before reclassifications:
(Decrease) increase	(917)		—			—		110			(807)
Income tax impact	(5)		—			—		—			(5)
Other comprehensive income (loss) before reclassifications, net of income taxes	(922)		—			—		110			(812)
Amounts reclassified from accumulated other comprehensive income (loss):
Increase (decrease)	—		13		(a)	—		(152)		(b)	(139)
Income tax impact	—		(3)			—		—			(3)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	—		10			—		(152)			(142)
Net current period other comprehensive income (loss), net of income taxes	(922)		10			—		(42)			(954)
Balance, April 2, 2021	$	(177)	$	(918)		$	—	$	(227)		$	(1,322)
For the Three-Month Period Ended April 3, 2020:
Balance, December 31, 2019	$	(2,173)	$	(781)		$	(1)	$	(113)		$	(3,068)
Other comprehensive income (loss) before reclassifications:
(Decrease) increase	(132)		—			1		651			520
Income tax impact	(22)		—			—		(119)			(141)
Other comprehensive income (loss) before reclassifications, net of income taxes	(154)		—			1		532			379
Amounts reclassified from accumulated other comprehensive income (loss):
Increase (decrease)	—		11		(a)	—		(139)		(b)	(128)
Income tax impact	—		(3)			—		29			26
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	—		8			—		(110)			(102)
Net current period other comprehensive income (loss), net of income taxes	(154)		8			1		422			277
Balance, April 3, 2020	$	(2,327)	$	(773)		$	—	$	309		$	(2,791)

(a) This accumulated other comprehensive income (loss) component is included in the computation of net periodic pension cost (refer to Notes 9 and 11 for additional details).

(b) Reflects reclassification to earnings related to hedges of certain long-term debt (refer to Note 8 for additional details).