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STOCKHOLDERS' EQUITY
 9 Months Ended
Sep. 26, 2021
Equity [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS’ EQUITY
Repurchases of Common Stock
During the nine months ended September 26, 2021, we repurchased 5.6 million shares of our common stock for $2.0 billion under accelerated share repurchase (ASR) agreements pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934. The total remaining authorization for future common share repurchases under our share repurchase program was $6.0 billion as of September 26, 2021, including a $5.0 billion increase to the program authorized by our Board of Directors on September 23, 2021. As we repurchase our common shares, we reduce common stock for the $1 of par value of the shares repurchased, with the excess purchase price over par value recorded as a reduction of additional paid-in capital. If additional paid-in capital is reduced to zero, we record the remainder of the excess purchase price over par value as a reduction of retained earnings.
Dividends
We declared cash dividends totaling $775 million ($2.80 per share) and $3.0 billion ($10.60 per share) during the quarter and nine months ended September 26, 2021. Dividends declared in the quarter ended September 26, 2021 represent our 2021 fourth quarter dividend payment, a per share increase of $0.20 over our 2021 third quarter dividend of $2.60 per share, which we declared in the second quarter of 2021. Our fourth quarter dividend will be paid in December 2021. We declared dividends totaling $730 million ($2.60 per share) and $2.8 billion ($9.80 per share) during the quarter and nine months ended September 27, 2020. The total amount declared may differ from the total amount of dividends paid during a period due to the timing of dividend-equivalents paid on RSUs and PSUs. These dividend-equivalents are accrued during the vesting period and are paid upon the vesting of the RSUs and PSUs, which primarily occurs in the first quarter each year.
Accumulated Other Comprehensive Loss
Changes in the balance of AOCL, net of tax, consisted of the following (in millions):
Postretirement
Benefit Plans		Other, netAOCL
Balance at December 31, 2020$(16,155)$34 $(16,121)
Other comprehensive income (loss) before reclassifications (a)
2,258 (55)2,203 
Amounts reclassified from AOCL
Pension settlement charge (b)
1,310 — 1,310 
Recognition of net actuarial losses (c)
579 — 579 
Amortization of net prior service credits (c)
(192)— (192)
Other— 4 4 
Total reclassified from AOCL1,697 4 1,701 
Total other comprehensive income (loss)3,955 (51)3,904 
Balance at September 26, 2021$(12,200)$(17)$(12,217)
Balance at December 31, 2019$(15,528)$(26)$(15,554)
Other comprehensive loss before reclassifications— (40)(40)
Amounts reclassified from AOCL
Recognition of net actuarial losses (c)
517 — 517 
Amortization of net prior service credits (c)
(187)— (187)
Other5 5 
Total reclassified from AOCL330 5 335 
Total other comprehensive income (loss)330 (35)295 
Balance at September 27, 2020$(15,198)$(61)$(15,259)
(a)Changes in AOCL before reclassifications related to our postretirement benefit plans represent the net actuarial gains from the interim remeasurement of certain defined benefit pension plans required as a result of the purchase of group annuity contracts to transfer $4.9 billion of our gross defined benefit pension obligations and related plan assets to an insurance company on August 3, 2021. See “Note 7 - Postretirement Benefit Plans”.
(b)During the quarter ended September 26, 2021, we recognized a noncash, non-operating pension settlement charge of $1.7 billion ($1.3 billion, or $4.72 per share, after-tax) in connection with the purchase of group annuity contracts to transfer $4.9 billion of our gross defined benefit pension obligations and related plan assets to an insurance company on August 3, 2021. See “Note 7 - Postretirement Benefit Plans”.
(c)Reclassifications from AOCL related to our postretirement benefit plans were recorded as a component of FAS expense (income) for each period presented. See “Note 7 - Postretirement Benefit Plans”. These amounts include $107 million and $110 million, net of tax, for the quarters ended September 26, 2021 and September 27, 2020, which are comprised of the recognition of net actuarial losses of $171 million and $173 million for the quarters ended September 26, 2021 and September 27, 2020, and the amortization of net prior service credits of $64 million and $63 million for the quarters ended September 26, 2021 and September 27, 2020.