Pension Benefits (Tables) - Pension

12 Months Ended

Jan. 02, 2021

Defined Benefit Plan Disclosure [Line Items]

Components of Company Plan Benefit Expense [Table Text Block]

(millions)	2020		2019
Change in projected benefit obligation
Beginning of year	$	5,654	$	5,117
Service cost	37		36
Interest cost	130		172
Plan participants’ contributions	1		1
Amendments	22		3
Actuarial (gain)loss	499		766
Benefits paid	(292)		(458)
Curtailment and special termination benefits	(15)		(13)
Settlements	(453)		—
Foreign currency adjustments	92		30
End of year	$	5,675	$	5,654
Change in plan assets
Fair value beginning of year	$	5,170	$	4,677
Actual return on plan assets	656		874
Employer contributions	8		10
Plan participants’ contributions	1		1
Benefits paid	(269)		(426)
Settlements	(453)		—
Other	(8)		—
Foreign currency adjustments	106		34
Fair value end of year	$	5,211	$	5,170
Funded status	$	(464)	$	(484)
Amounts recognized in the Consolidated Balance Sheet consist of
Other assets	$	324	$	241
Other current liabilities	(19)		(20)
Other liabilities	(769)		(705)
Net amount recognized	$	(464)	$	(484)
Amounts recognized in accumulated other comprehensive income consist of
Prior service cost	$	51	$	37
Net amount recognized	$	51	$	37

Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block]

(millions)	2020		2019
Projected benefit obligation	$	3,937	$	4,061
Accumulated benefit obligation	$	3,921	$	4,033
Fair value of plan assets	$	3,177	$	3,362

Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets

Information for pension plans with projected benefit obligations in excess of plan assets were:

(millions)	2020		2019
Projected benefit obligation	$	4,035	$	4,180
Accumulated benefit obligation	$	3,988	$	4,114
Fair value of plan assets	$	3,246	$	3,455

Schedule of Net Benefit Costs [Table Text Block]

(millions)	2020		2019		2018
Service cost	$	37	$	36	$	87
Interest cost	130		172		165
Expected return on plan assets	(340)		(340)		(361)
Amortization of unrecognized prior service cost	7		7		8
Other expense	8		—		—
Recognized net (gain) loss	184		235		269
Net periodic benefit cost	26		110		168
Curtailment and special termination benefits	(15)		(13)		(30)
Pension (income) expense:
Defined benefit plans	11		97		138
Defined contribution plans	20		20		27
Total	$	31	$	117	$	165

Defined Benefit Plan, Assumptions [Table Text Block]

	2020		2019		2018
Discount rate	2.2	%	2.9	%	3.9	%
Long-term rate of compensation increase	3.4	%	3.4	%	3.8	%

The worldwide weighted-average actuarial assumptions used to determine annual net periodic benefit cost were:

	2020		2019		2018
Discount rate	2.8	%	3.7	%	3.3	%
Long-term rate of compensation increase	3.4	%	4.0	%	3.9	%
Long-term rate of return on plan assets	6.8	%	7.3	%	7.4	%

Schedule of Allocation of Plan Assets [Table Text Block]

(millions)	Total Level 1		Total Level 2		Total Level 3		Total NAV (practical expedient)(a)		Total
Cash and cash equivalents	$	35	$	4	$	—	$	3	$	42
Corporate stock, common	325		—		—		—		325
Mutual funds:
Equity	—		—		—		2		2
Debt	—		5		—		—		5
Collective trusts:
Equity	—		—		—		1,508		1,508
Debt	—		548		—		415		963
Limited partnerships	—		—		—		292		292
Bonds, corporate	—		220		—		141		361
Bonds, government	—		861		—		—		861
Bonds, other	—		64		—		—		64
Real estate	—		—		—		421		421
Buy-in annuity contract	—		—		280		—		280
Other	—		78		—		9		87
Total	$	360	$	1,780	$	280	$	2,791	$	5,211

(a) Certain assets that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.

The fair value of Plan assets at December 28, 2019 are summarized as follows:

(millions)	Total Level 1		Total Level 2		Total Level 3		Total NAV (practical expedient)(a)		Total
Cash and cash equivalents	$	14	$	—	$	—	$	—	$	14
Corporate stock, common	354		—		—		—		354
Mutual funds:
Equity	—		—		—		36		36
Debt	—		4		—		—		4
Collective trusts:
Equity	—		117		—		1,314		1,431
Debt	—		718		—		378		1,096
Limited partnerships	—		—		—		228		228
Bonds, corporate	—		443		—		211		654
Bonds, government	—		774		—		—		774
Bonds, other	—		70		—		—		70
Real estate	—		—		—		412		412
Other	—		61		—		36		97
Total	$	368	$	2,187	$	—	$	2,615	$	5,170

(a) Certain assets that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets

Changes in fair value of the Plan's Level 3 assets are summarized as follows:

(millions)	Annuity Contract
December 28, 2019	$	—
Purchases	268
Realized and unrealized gain	4
Currency translation	8
January 2, 2021	$	280