Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Jan. 03, 2025

Accumulated Other Comprehensive Income (Loss)

Note 14—Accumulated Other Comprehensive Income (Loss)

Changes in the components of Accumulated Other Comprehensive Income (Loss) (“AOCI”) were as follows:


(in millions)	Foreign currency translation adjustments		Unrecognized gain (loss) on derivative instruments		Pension adjustments		Total AOCI
Balance at December 31, 2021	$	22	$	(41)	$	7	$	(12)
Other comprehensive income (loss)	(108)		59		(27)		(76)
Taxes	13		(16)		7		4
Reclassification from AOCI	—		11		—		11
Balance at December 30, 2022	(73)		13		(13)		(73)
Other comprehensive income (loss)	36		6		(1)		41
Taxes	(2)		1		—		(1)
Reclassification from AOCI	—		(15)		—		(15)
Balance at December 29, 2023	(39)		5		(14)		(48)
Other comprehensive income (loss)	(64)		5		2		(57)
Taxes	5		2		(1)		6
Reclassification from AOCI	—		(11)		—		(11)
Balance at January 3, 2025	$	(98)	$	1	$	(13)	$	(110)

Reclassifications for unrecognized gain (loss) on derivative instruments associated with outstanding debt are recorded in “Interest expense, net” on the consolidated statements of operations. See “Note 12—Derivative Instruments” for more information on our interest rate swap agreements.