Income Taxes (Tables)

12 Months Ended

Jan. 03, 2015

Income Taxes [Abstract]

Schedule of Components of Income before Income Taxes and Provision for Income Taxes [Table Text Block]

(millions)				2014		2013		2012
Income before income taxes
	United States		$	502	$	2,102	$	1,008
	Foreign			323		504		317
				825		2,606		1,325
Income taxes
	Currently payable
		Federal		301		302		383
		State		36		68		34
		Foreign		103		105		105
				440		475		522
	Deferred
		Federal		(186)		331		(129)
		State		(14)		(2)		8
		Foreign		(54)		(12)		(38)
				(254)		317		(159)
Total income taxes			$	186	$	792	$	363

Schedule of Effective Tax Rate Reconciliation [Table Text Block]

	2014		2013		2012
U.S. statutory income tax rate	35.0	%	35.0	%	35.0	%
Foreign rates varying from 35%	(7.9)		(3.5)		(4.4)
State income taxes, net of federal benefit	1.7		1.7		2.1
Cost (benefit) of remitted and unremitted foreign earnings	(0.1)		(0.4)		(1.8)
Tax audit activity	0.2		(0.1)		0.0
Net change in valuation allowances	0.3		0.4		0.8
Statutory rate changes, deferred tax impact	(0.4)		(0.5)		(0.3)
U.S. deduction for qualified production activities	(2.8)		(0.9)		(2.1)
Other	(3.4)		(1.3)		(1.9)
Effective income tax rate	22.6	%	30.4	%	27.4	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		Deferred tax assets				Deferred tax liabilities
(millions)		2014		2013		2014		2013
U.S. state income taxes	$	10	$	13	$	49	$	61
Advertising and promotion-related		21		23		-		-
Wages and payroll taxes		36		36		-		-
Inventory valuation		-		37		-		-
Employee benefits		305		65		-		-
Operating loss and credit carryforwards		54		55		-		-
Hedging transactions		48		10		-		-
Depreciation and asset disposals		-		-		352		366
Trademarks and other intangibles		-		-		555		529
Deferred compensation		35		36		-		-
Stock options		38		36		-		-
Unremitted foreign earnings		-		-		1		2
Other		84		109		-		-
		631		420		957		958
Less valuation allowance		(51)		(61)		-		-
Total deferred taxes	$	580	$	359	$	957	$	958
Net deferred tax asset (liability)	$	(377)	$	(599)
Classified in balance sheet as:
Other current assets	$	184	$	195
Other current liabilities		(10)		(13)
Other assets		175		147
Other liabilities		(726)		(928)
Net deferred tax asset (liability)	$	(377)	$	(599)

Schedule of Change in Valuation Allowance [Table Text Block]

(millions)			2014		2013		2012
Balance at beginning of year		$	61	$	59	$	46
Additions charged to income tax expense			9		17		12
Reductions credited to income tax expense			(3)		(3)		-
Other (a)			-		(10)		-
Currency translation adjustments			(16)		(2)		1
Balance at end of year		$	51	$	61	$	59
(a)	Reduction due to the disposition of a business resulting in deferred tax asset and valuation allowance being eliminated.

Reconciliation of Total Gross Unrecognized Tax Benefits [Table Text Block]

(millions)			2014		2013		2012
Balance at beginning of year		$	79	$	80	$	66
Tax positions related to current year:
	Additions		7		9		8
Tax positions related to prior years:
	Additions		10		17		14
	Reductions		(12)		(13)		(4)
Settlements			(2)		(14)		(1)
Lapses in statutes of limitation			(4)		-		(3)
Balance at end of year		$	78	$	79	$	80