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Hedging Transactions And Derivative Financial Instruments (Tables)
 3 Months Ended
Apr. 02, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments, Gain (Loss)
The following table summarizes the notional values as of April 2, 2021 and pretax impact of changes in the fair values of instruments designated as net investment hedges and cash flow hedges in accumulated other comprehensive income (“OCI”) for the three-month periods ended April 2, 2021 and April 3, 2020 ($ in millions):
Original Notional AmountNotional Amount OutstandingGain (Loss) Recognized in OCI
For the Three-Month Period Ended April 2, 2021:
Net investment hedges:
Foreign currency contracts$2,875 $2,000 $23 
Foreign currency denominated debt3,783 3,783 220 
Cash flow hedges:
Foreign currency contracts4,000 4,000 110 
Total$10,658 $9,783 $353 
For the Three-Month Period Ended April 3, 2020:
Net investment hedges:
Foreign currency contracts:$1,875 $1,000 $93 
Foreign currency denominated debt8,103 8,103 156 
Cash flow hedges:
Foreign currency contracts4,000 4,000 651 
Total$13,978 $13,103 $900 
Schedule of Notional Amounts of Outstanding Derivative Positions
The following table summarizes the notional values as of April 2, 2021 and pretax impact of changes in the fair values of instruments designated as net investment hedges and cash flow hedges in accumulated other comprehensive income (“OCI”) for the three-month periods ended April 2, 2021 and April 3, 2020 ($ in millions):
Original Notional AmountNotional Amount OutstandingGain (Loss) Recognized in OCI
For the Three-Month Period Ended April 2, 2021:
Net investment hedges:
Foreign currency contracts$2,875 $2,000 $23 
Foreign currency denominated debt3,783 3,783 220 
Cash flow hedges:
Foreign currency contracts4,000 4,000 110 
Total$10,658 $9,783 $353 
For the Three-Month Period Ended April 3, 2020:
Net investment hedges:
Foreign currency contracts:$1,875 $1,000 $93 
Foreign currency denominated debt8,103 8,103 156 
Cash flow hedges:
Foreign currency contracts4,000 4,000 651 
Total$13,978 $13,103 $900 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The Company’s derivative instruments, as well as its nonderivative debt instruments designated and qualifying as net investment hedges, were classified in the Company’s Consolidated Condensed Balance Sheets as follows ($ in millions):
April 2, 2021December 31, 2020
Derivative liabilities:
Accrued expenses and other liabilities$489 $622 
Nonderivative hedging instruments:
Long-term debt3,783 4,573