Financial Instruments - Derivative Impact on Statements of Income (Details) - USD ($) $ in Millions | 12 Months Ended |
Dec. 30, 2023 | Dec. 31, 2022 | Dec. 25, 2021 |
Total amounts presented in the consolidated statements of income in which the following effects were recorded | | | |
Cost of products sold | $ 17,714 | $ 18,363 | $ 17,360 |
SG&A | 4,354 | 4,488 | 5,222 |
Interest expense | 912 | 921 | 2,047 |
Other expense/(income) | 27 | (253) | (295) |
Net sales | 26,640 | 26,485 | 26,042 |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 59 | | |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 59 | | |
Cost of products sold | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | (82) | 77 | 109 |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | $ (82) | $ 77 | $ 109 |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Cost of products sold | Cost of products sold | Cost of products sold |
SG&A | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | | $ 2 | $ (1) |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | | $ 2 | $ (1) |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | | Selling, general and administrative expenses, excluding impairment losses | Selling, general and administrative expenses, excluding impairment losses |
Interest expense | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | $ 8 | $ 7 | $ 15 |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | $ 8 | $ 7 | $ 15 |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Interest expense | Interest expense | Interest expense |
Other expense/(income) | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | | $ (50) | $ (86) |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | | $ (50) | $ (86) |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Other expense/(income) | Other expense/(income) | Other expense/(income) |
Net sales | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | | | $ (1) |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | | | $ (1) |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | | | Net sales |
Not designated as hedging instrument | Cost of products sold | Foreign exchange contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | $ 0 | $ 0 | $ 0 |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 0 | 0 | 0 |
Not designated as hedging instrument | Cost of products sold | Cross-currency contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 0 | 0 | 0 |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 0 | 0 | 0 |
Not designated as hedging instrument | Cost of products sold | Commodity contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | (110) | 86 | 158 |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | (110) | 86 | 158 |
Not designated as hedging instrument | SG&A | Foreign exchange contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | | 0 | 0 |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | | 0 | 0 |
Not designated as hedging instrument | SG&A | Cross-currency contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | | 0 | |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | | 0 | |
Not designated as hedging instrument | SG&A | Commodity contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | | 0 | 0 |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | | 0 | 0 |
Not designated as hedging instrument | Interest expense | Foreign exchange contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 0 | 0 | 0 |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 0 | 0 | 0 |
Not designated as hedging instrument | Interest expense | Cross-currency contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 0 | 0 | 0 |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 0 | 0 | 0 |
Not designated as hedging instrument | Interest expense | Commodity contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 0 | 0 | 0 |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 0 | 0 | 0 |
Not designated as hedging instrument | Other expense/(income) | Foreign exchange contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | (12) | (26) | (31) |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | (12) | (26) | (31) |
Not designated as hedging instrument | Other expense/(income) | Cross-currency contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 3 | 0 | 9 |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 3 | 0 | 9 |
Not designated as hedging instrument | Other expense/(income) | Commodity contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 0 | 0 | 0 |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 0 | 0 | 0 |
Cash Flow Hedging | Foreign exchange contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | (3) | 0 | 0 |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | (3) | 0 | 0 |
Cash Flow Hedging | Designated as hedging instrument | Cost of products sold | Foreign exchange contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 38 | (2) | (46) |
Net gains/(losses) on derivatives, excluded component, reclassified to net income | (10) | (7) | (3) |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 38 | (2) | (46) |
Cash Flow Hedging | Designated as hedging instrument | Cost of products sold | Interest rate contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 0 | 0 | |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 0 | 0 | |
Cash Flow Hedging | Designated as hedging instrument | Cost of products sold | Cross-currency contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 0 | 0 | 0 |
Net gains/(losses) on derivatives, excluded component, reclassified to net income | 0 | 0 | 0 |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 0 | 0 | 0 |
Cash Flow Hedging | Designated as hedging instrument | SG&A | Foreign exchange contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | | 2 | (1) |
Net gains/(losses) on derivatives, excluded component, reclassified to net income | | 0 | |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | | 2 | (1) |
Cash Flow Hedging | Designated as hedging instrument | SG&A | Interest rate contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | | 0 | |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | | 0 | |
Cash Flow Hedging | Designated as hedging instrument | SG&A | Cross-currency contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | | 0 | 0 |
Net gains/(losses) on derivatives, excluded component, reclassified to net income | | 0 | 0 |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | | 0 | 0 |
Cash Flow Hedging | Designated as hedging instrument | Interest expense | Foreign exchange contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 0 | 0 | 0 |
Net gains/(losses) on derivatives, excluded component, reclassified to net income | 0 | 0 | 0 |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 0 | 0 | 0 |
Cash Flow Hedging | Designated as hedging instrument | Interest expense | Interest rate contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 0 | (1) | |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 0 | (1) | |
Cash Flow Hedging | Designated as hedging instrument | Interest expense | Cross-currency contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | (27) | (28) | (23) |
Net gains/(losses) on derivatives, excluded component, reclassified to net income | 0 | 0 | 0 |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | (27) | (28) | (23) |
Cash Flow Hedging | Designated as hedging instrument | Other expense/(income) | Foreign exchange contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | (20) | 0 | 0 |
Net gains/(losses) on derivatives, excluded component, reclassified to net income | 0 | 0 | 0 |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | (20) | 0 | 0 |
Cash Flow Hedging | Designated as hedging instrument | Other expense/(income) | Interest rate contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 0 | 0 | |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 0 | 0 | |
Cash Flow Hedging | Designated as hedging instrument | Other expense/(income) | Cross-currency contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 63 | (54) | (91) |
Net gains/(losses) on derivatives, excluded component, reclassified to net income | 25 | 30 | 27 |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | 63 | (54) | (91) |
Cash Flow Hedging | Designated as hedging instrument | Net sales | Foreign exchange contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | | | (1) |
Gains/(losses) related to derivatives not designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, reclassified to net income | | | (1) |
Net Investment Hedging | Designated as hedging instrument | Cost of products sold | Foreign exchange contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, excluded component, reclassified to net income | 0 | 0 | 0 |
Net Investment Hedging | Designated as hedging instrument | Cost of products sold | Cross-currency contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, excluded component, reclassified to net income | 0 | 0 | 0 |
Net Investment Hedging | Designated as hedging instrument | SG&A | Foreign exchange contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, excluded component, reclassified to net income | | 0 | 0 |
Net Investment Hedging | Designated as hedging instrument | SG&A | Cross-currency contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, excluded component, reclassified to net income | | 0 | 0 |
Net Investment Hedging | Designated as hedging instrument | Interest expense | Foreign exchange contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, excluded component, reclassified to net income | 1 | (1) | 2 |
Net Investment Hedging | Designated as hedging instrument | Interest expense | Cross-currency contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, excluded component, reclassified to net income | 34 | 37 | 36 |
Net Investment Hedging | Designated as hedging instrument | Other expense/(income) | Foreign exchange contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, excluded component, reclassified to net income | 0 | 0 | 0 |
Net Investment Hedging | Designated as hedging instrument | Other expense/(income) | Cross-currency contracts | | | |
Gains/(losses) related to derivatives designated as hedging instruments: | | | |
Net gains/(losses) on derivatives, excluded component, reclassified to net income | $ 0 | $ 0 | $ 0 |