Condensed Consolidated Statements of Income - USD ($) $ in Millions |
3 Months Ended | |||||
|---|---|---|---|---|---|---|
Mar. 30, 2024 |
Apr. 01, 2023 |
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| Income Statement [Abstract] | ||||||
| Net sales | $ 6,411 | $ 6,489 | ||||
| Cost of products sold | 4,168 | 4,376 | ||||
| Gross profit | 2,243 | 2,113 | | |||
| Selling, general and administrative expenses | 941 | 870 | | | ||
| Total Operating Expenses | 941.0 | 870.0 | 0 | 0 | 0 | |
| Operating income/(loss) | 1,302 | 1,243 | | |||
| Interest expense | 226 | 227 | | |||
| Total Other Income Expenses | 273.0 | 192.0 | 0.0 | 0 | 0 | |
| Other expense/(income) | 47 | (35) | | | | |
| Income/(loss) before income taxes | 1,029 | 1,051 | | |||
| Provision for/(benefit from) income taxes | 225 | 214 | | |||
| Net income/(loss) | 804 | 837 | | |||
| Net income/(loss) attributable to noncontrolling interest | 3 | 1 | ||||
| Net income/(loss) attributable to common shareholders | $ 801 | $ 836 | ||||
| Per share data applicable to common shareholders: | ||||||
| Basic earnings/(loss) per common share (in dollars per share) | $ 0.66 | $ 0.68 | ||||
| Diluted earnings/(loss) per common share (in dollars per share) | $ 0.66 | $ 0.68 | ||||
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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