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Income Taxes (Tables)
3 Months Ended
Mar. 30, 2024
Income Tax Disclosure [Abstract]  
Schedule of the Provision for Income Taxes
The provision for income taxes in the accompanying statements of income differs from the provision calculated by applying the statutory federal income tax rate to income before provision for income taxes due to the following:
Three months ended
(In millions)March 30, 2024April 1, 2023
Statutory federal income tax rate
21 %21 %
Provision for income taxes at statutory rate
$334 $286 
Increases (decreases) resulting from:
Foreign rate differential
(38)(52)
Income tax credits
(89)(83)
Global intangible low-taxed income
12 12 
Foreign-derived intangible income
(22)(23)
Excess tax benefits from stock options and restricted stock units
(33)(27)
Provision for (reversal of) tax reserves, net
185 
Intra-entity transfers
(102)(144)
Provision for (reversal of) valuation allowances, net
47 67 
Withholding taxes
Tax return reassessments and settlements
(29)(3)
State income taxes, net of federal tax
19 24 
Other, net
(6)(25)
Provision for income taxes
$281 $46 
Schedule of Unrecognized Tax Benefits
(In millions)2024
Balance at beginning of year
$540 
Additions for tax positions of prior years
195 
Reductions for tax positions of prior years
(42)
Balance at end of period
$693