Income Taxes

3 Months Ended

Mar. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

Note 7 : Income Taxes

	Three Months Ended
(In Millions)	Mar 30, 2024			Apr 1, 2023
Income (loss) before taxes	$	(719)		$	(1,158)
Provision for (benefit from) taxes	$	(282)		$	1,610
Effective tax rate	39.2		%	(139.0)		%

Our provision for, or benefit from, income taxes for an interim period has historically been determined using an estimated annual effective tax rate, adjusted for discrete items, if any. Under certain circumstances where we are unable to make a reliable estimate of the annual effective tax rate, we use the actual effective tax rate for the year-to-date period. During the first quarter of 2024, we used the actual effective tax rate approach due to the variability of the rate as a result of fluctuations in forecasted income and the effects of being taxed in multiple tax jurisdictions.