Tax Matters (Tables)

9 Months Ended

Sep. 27, 2020

Income Tax Disclosure [Abstract]

Schedule of Tax Provision/(Benefit) on Other Comprehensive Income (Loss)

Components of Tax provision/(benefit) on other comprehensive income/(loss) include:
	Three Months Ended				Nine Months Ended
(MILLIONS OF DOLLARS)	September 27, 2020		September 29, 2019		September 27, 2020		September 29, 2019
Foreign currency translation adjustments, net(a)	$	47	$	86	$	(144)	$	96
Unrealized holding gains/(losses) on derivative financial instruments, net	(43)		31		(126)		37
Reclassification adjustments for (gains)/losses included in net income	7		(3)		(13)		(62)
	(37)		28		(139)		(24)
Unrealized holding gains/(losses) on available-for-sale securities, net	30		2		29		6
Reclassification adjustments for (gains)/losses included in net income	(11)		(1)		(3)		4
	19		1		26		10
Benefit plans: actuarial gains/(losses), net	(288)		(41)		(308)		(42)
Reclassification adjustments related to amortization	15		23		46		41
Reclassification adjustments related to settlements, net	40		9		52		10
Other	(48)		(1)		(28)		2
	(281)		(10)		(238)		12
Reclassification adjustments related to amortization of prior service costs and other, net	(11)		(11)		(32)		(33)
Reclassification adjustments related to curtailments of prior service costs and other, net	—		(11)		—		(11)
Other	(1)		1		1		1
	(11)		(21)		(31)		(43)
Tax provision/(benefit) on other comprehensive income/(loss)	$	(262)	$	84	$	(527)	$	50

(a)Taxes are not provided for foreign currency translation adjustments relating to investments in international subsidiaries that will be held indefinitely.