Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jul. 02, 2022

Equity [Abstract]

Schedule of Components of Accumulated Other Comprehensive Income (Loss)

The components of AOCI for the six months ended July 2, 2022 and July 3, 2021 are as follows (in millions):

	Unrealized gain (loss) on sales hedging		Foreign currency translation adjustments		Total
Balance at December 31, 2020	$	(28)	$	(41)	$	(69)
Other comprehensive income (loss) before reclassifications	23		(3)		20
Amounts reclassified from AOCI(1)	20		—		20
Tax effect	(9)		—		(9)
Other comprehensive income (loss), net of tax	34		(3)		31
Balance at July 3, 2021	$	6	$	(44)	$	(38)
Balance at December 31, 2021	$	18	$	(47)	$	(29)
Other comprehensive income (loss) before reclassifications	57		(11)		46
Amounts reclassified from AOCI(1)	(43)		—		(43)
Tax effect	(2)		—		(2)
Other comprehensive income (loss), net of tax	12		(11)		1
Balance at July 2, 2022	$	30	$	(58)	$	(28)

(1) See Note 9, Derivative Instruments regarding timing of reclassifications to operating results.