Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Billions, except Share data, unless otherwise specified | Dec. 28, 2013 | Jan. 25, 2014 | Jun. 29, 2013 |
Document and Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 28-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'K | ' | ' |
Entity Registrant Name | 'KELLOGG CO | ' | ' |
Entity Central Index Key | '0000055067 | ' | ' |
Current Fiscal Year End Date | '--12-28 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 361,686,112 | ' |
Entity Public Float | ' | ' | $18.40 |
Consolidated_Statement_of_Inco
Consolidated Statement of Income (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Consolidated Statement of Income | ' | ' | ' |
Net sales | $14,792 | $14,197 | $13,198 |
Cost of goods sold | 8,689 | 8,763 | 8,046 |
Selling, general and administrative expense | 3,266 | 3,872 | 3,725 |
Operating profit | 2,837 | 1,562 | 1,427 |
Interest expense | 235 | 261 | 233 |
Other income (expense), net | 4 | 24 | -10 |
Income before income taxes | 2,606 | 1,325 | 1,184 |
Income taxes | 792 | 363 | 320 |
Earnings (loss) from joint ventures | -6 | -1 | 0 |
Net income | 1,808 | 961 | 864 |
Net income (loss) attributable to noncontrolling interests | 1 | 0 | -2 |
Net income attributable to Kellogg Company | $1,807 | $961 | $866 |
Per share amounts: | ' | ' | ' |
Basic | $4.98 | $2.68 | $2.39 |
Diluted | $4.94 | $2.67 | $2.38 |
Dividends per share | $1.80 | $1.74 | $1.67 |
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Income (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Consolidated Statement of Comprehensive Income [Abstract] | ' | ' | ' | |
Net income | $1,808 | $961 | $864 | |
Other comprehensive income, before-tax: | ' | ' | ' | |
Foreign currency translation adjustments, before-tax | -24 | 64 | [1] | -105 |
Cash flow hedges, before-tax: | ' | ' | ' | |
Unrealized gain (loss) on cash flow hedges, before-tax | 11 | -5 | -51 | |
Reclassification to net earnings, before-tax | -6 | 14 | -2 | |
Postretirement and Postemployment benefit amounts arising during the period, before-tax: | ' | ' | ' | |
Net experience gain (loss), before-tax | 17 | -7 | [1] | -6 |
Prior service credit (cost), before-tax | 9 | -26 | [1] | -3 |
Postretirement and postemployment benefits reclassification to net income, before-tax: | ' | ' | ' | |
Net experience loss, before-tax | 5 | 5 | [1] | 5 |
Prior service cost, before-tax | 13 | 12 | [1] | 11 |
Other comprehensive income (loss), before-tax | 25 | 57 | [1] | -151 |
Other comprehensive income (loss), tax (expense) or benefit | ' | ' | ' | |
Foreign currency translation adjustments, tax (expense) or benefit | 0 | 0 | [1] | -2 |
Cash flow hedges, tax effect: | ' | ' | ' | |
Unrealized gain (loss) on cash flow hedges, tax (expense) or benefit | -1 | 2 | 18 | |
Reclassification to net earnings, tax (expense) or benefit | 0 | -5 | 1 | |
Postretirement and postemployment benefit amounts arising during the period, tax effect: | ' | ' | ' | |
Net experience gain (loss), tax (expense) or benefit | -6 | 3 | [1] | 2 |
Prior service credit (cost), tax (expense) or benefit | -2 | 9 | [1] | 1 |
Postretirement and postemployment benefits reclassification to net income, tax effect: | ' | ' | ' | |
Net experience loss, tax (expense) or benefit | -2 | -2 | [1] | -1 |
Prior service cost, tax (expense) or benefit | -4 | -4 | [1] | -4 |
Other comprehensive income (loss), tax (expense) or benefit | -15 | 3 | [1] | 15 |
Other comprehensive income (loss), after tax | ' | ' | ' | |
Foreign currency translation adjustments, after-tax | -24 | 64 | [1] | -107 |
Cash flow hedges, after-tax: | ' | ' | ' | |
Unrealized gain (loss) on cash flow hedges, after-tax | 10 | -3 | -33 | |
Reclassification to net income | -6 | 9 | -1 | |
Postretirement and postemployment benefit amounts arising during the period, after-tax: | ' | ' | ' | |
Net experience gain (loss), after-tax | 11 | -4 | [1] | -4 |
Prior service credit (cost), after-tax | 7 | -17 | [1] | -2 |
Postretirement and postemployment benefits reclassification to net income, after-tax: | ' | ' | ' | |
Net experience loss, after-tax | 3 | 3 | [1] | 4 |
Prior service cost, after-tax | 9 | 8 | [1] | 7 |
Other comprehensive income, after-tax | 10 | 60 | [1] | -136 |
Comprehensive income | $1,818 | $1,021 | $728 | |
[1] | * December 29, 2012 balances have been revised as discussed in Note 2 to the financial statements. |
Consolidated_Balance_Sheet
Consolidated Balance Sheet (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | |
In Millions, unless otherwise specified | |||
Current assets | ' | ' | |
Cash and cash equivalents | $273 | $281 | |
Accounts receivable, net | 1,424 | 1,454 | |
Inventories | 1,248 | 1,365 | |
Other current assets | 322 | 280 | |
Total current assets | 3,267 | 3,380 | |
Property, net | 3,856 | 3,782 | |
Goodwill | 5,051 | 5,038 | [1] |
Other intangibles, net | 2,367 | 2,359 | |
Other assets | 933 | 610 | |
Total assets | 15,474 | 15,169 | |
Current liabilities | ' | ' | |
Current maturities of long-term debt | 289 | 755 | |
Notes payable | 739 | 1,065 | |
Accounts payable | 1,432 | 1,402 | |
Other current liabilities | 1,375 | 1,301 | |
Total current liabilities | 3,835 | 4,523 | |
Long-term debt | 6,330 | 6,082 | |
Deferred income taxes | 928 | 523 | |
Pension liability | 277 | 886 | |
Other liabilities | 497 | 690 | |
Commitments and contingencies | ' | ' | |
Equity | ' | ' | |
Common stock, $.25 par value, 1,000,000,000 shares authorized Issued: 419,923,540 shares in 2013 and 419,718,217 shares in 2012 | 105 | 105 | |
Capital in excess of par value | 626 | 573 | |
Retained earnings | 6,749 | 5,615 | |
Treasury stock, at cost 57,121,760 shares in 2013 and 58,452,083 shares in 2012 | -2,999 | -2,943 | |
Accumulated other comprehensive income (loss) | -936 | -946 | [1] |
Total Kellogg Company equity | 3,545 | 2,404 | |
Noncontrolling interests | 62 | 61 | |
Total equity | 3,607 | 2,465 | |
Total liabilities and equity | $15,474 | $15,169 | |
[1] | *December 29, 2012 balances have been revised as discussed in Note 2 to the financial statements. |
Consolidated_Balance_Sheet_Par
Consolidated Balance Sheet (Parenthetical) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Millions, except Share data, unless otherwise specified | ||
Consolidated Balance Sheet | ' | ' |
Common stock, par value | $0.25 | $0.25 |
Common stock, shares, issued | 419,923,540 | 419,718,217 |
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Treasury stock, shares | 57,121,760 | 58,452,083 |
Property, accumulated depreciation | $5,501 | $5,209 |
Other intangibles, accumulated amortization | $62 | $53 |
Consolidated_Statement_of_Equi
Consolidated Statement of Equity (USD $) | Total | Common Stock [Member] | Capital in Excess of Par Value [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total Kellogg Company Equity [Member] | Noncontrolling Interests [Member] | Total Comprehensive Income (Loss) [Member] | |
In Millions, except Share data | ||||||||||
Balance, value at Jan. 01, 2011 | $2,147 | $105 | $495 | $5,071 | ($2,650) | ($870) | $2,151 | ($4) | ' | |
Balance, shares at Jan. 01, 2011 | ' | 419,000,000 | ' | ' | 54,000,000 | ' | ' | ' | ' | |
Common stock repurchases, shares | 15,000,000 | ' | ' | ' | 15,000,000 | ' | ' | ' | ' | |
Common stock repurchases, value | -793 | ' | ' | ' | -793 | ' | -793 | ' | ' | |
Acquisition of noncontrolling interest | 0 | ' | -8 | ' | ' | ' | -8 | 8 | ' | |
Net income (loss) | 864 | ' | ' | 866 | ' | ' | 866 | -2 | 864 | |
Dividends | -604 | ' | ' | -604 | ' | ' | -604 | ' | ' | |
Other comprehensive income (loss) | -136 | ' | ' | ' | ' | -136 | -136 | ' | -136 | |
Total comprehensive income | 728 | ' | ' | ' | ' | ' | ' | ' | ' | |
Stock compensation | 26 | ' | 26 | ' | ' | ' | 26 | ' | ' | |
Stock options exercised and other, shares | ' | ' | ' | ' | -7,000,000 | ' | ' | ' | ' | |
Stock options exercised and other, value | 294 | ' | 9 | -28 | 313 | ' | 294 | ' | ' | |
Balance, value at Dec. 31, 2011 | 1,798 | 105 | 522 | 5,305 | -3,130 | -1,006 | 1,796 | 2 | 728 | |
Balance, shares at Dec. 31, 2011 | ' | 419,000,000 | ' | ' | 62,000,000 | ' | ' | ' | ' | |
Common stock repurchases, shares | 1,000,000 | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | |
Common stock repurchases, value | -63 | ' | ' | ' | -63 | ' | -63 | ' | ' | |
Acquisition of noncontrolling interest | 59 | ' | 0 | ' | ' | ' | 0 | 59 | ' | |
Net income (loss) | 961 | ' | ' | 961 | ' | ' | 961 | 0 | 961 | |
Dividends | -622 | ' | ' | -622 | ' | ' | -622 | ' | ' | |
Other comprehensive income (loss) | 60 | [1] | ' | ' | ' | ' | 60 | 60 | ' | 60 |
Total comprehensive income | 1,021 | ' | ' | ' | ' | ' | ' | ' | ' | |
Stock compensation | 36 | ' | 36 | ' | ' | ' | 36 | ' | ' | |
Stock options exercised and other, shares | ' | 1,000,000 | ' | ' | -5,000,000 | ' | ' | ' | ' | |
Stock options exercised and other, value | 236 | ' | 15 | -29 | 250 | ' | 236 | ' | ' | |
Balance, value at Dec. 29, 2012 | 2,465 | 105 | 573 | 5,615 | -2,943 | -946 | 2,404 | 61 | 1,021 | |
Balance, shares at Dec. 29, 2012 | ' | 420,000,000 | ' | ' | 58,000,000 | ' | ' | ' | ' | |
Common stock repurchases, shares | 9,000,000 | ' | ' | ' | 9,000,000 | ' | ' | ' | ' | |
Common stock repurchases, value | -544 | ' | ' | ' | -544 | ' | -544 | ' | ' | |
Net income (loss) | 1,808 | ' | ' | 1,807 | ' | ' | 1,807 | 1 | 1,808 | |
Dividends | -653 | ' | ' | -653 | ' | ' | -653 | ' | ' | |
Other comprehensive income (loss) | 10 | ' | ' | ' | ' | 10 | 10 | ' | 10 | |
Total comprehensive income | 1,818 | ' | ' | ' | ' | ' | ' | ' | ' | |
Stock compensation | 28 | ' | 28 | ' | ' | ' | 28 | ' | ' | |
Stock options exercised and other, shares | ' | 0 | ' | ' | -10,000,000 | ' | ' | ' | ' | |
Stock options exercised and other, value | 493 | ' | 25 | -20 | 488 | ' | 493 | ' | ' | |
Balance, value at Dec. 28, 2013 | $3,607 | $105 | $626 | $6,749 | ($2,999) | ($936) | $3,545 | $62 | $1,818 | |
Balance, shares at Dec. 28, 2013 | ' | 420,000,000 | ' | ' | 57,000,000 | ' | ' | ' | ' | |
[1] | * December 29, 2012 balances have been revised as discussed in Note 2 to the financial statements. |
Consolidated_Statement_of_Cash
Consolidated Statement of Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Operating activities | ' | ' | ' |
Net income | $1,808 | $961 | $864 |
Adjustments to reconcile net income to operating cash flows: | ' | ' | ' |
Depreciation and amortization | 532 | 448 | 369 |
Postretirement benefit plan (income) expense | -1,078 | 419 | 684 |
Deferred income taxes | 317 | -159 | -93 |
Other | 25 | -21 | -115 |
Postretirement benefit plan contributions | -48 | -51 | -192 |
Changes in operating assets and liabilities, net of acquisitions: | ' | ' | ' |
Trade receivables | -46 | -65 | -100 |
Inventories | 116 | -80 | -125 |
Accounts payable | 30 | 208 | 40 |
Accrued income taxes | 4 | 25 | 132 |
Accrued interest expense | -9 | -1 | -7 |
Accrued and prepaid advertising, promotion and trade allowances | -30 | 97 | 4 |
Accrued salaries and wages | 61 | 15 | 89 |
All other current assets and liabilities | 125 | -38 | 45 |
Net cash provided by (used in) operating activities | 1,807 | 1,758 | 1,595 |
Investing activities | ' | ' | ' |
Additions to properties | -637 | -533 | -594 |
Acquisitions, net of cash acquired | 0 | -2,668 | 0 |
Other | -4 | -44 | 7 |
Net cash provided by (used in) investing activities | -641 | -3,245 | -587 |
Financing activities | ' | ' | ' |
Net increase (reduction) of notes payable, with maturities less than or equal to 90 days | -524 | 779 | 189 |
Issuances of notes payable, with maturities greater than 90 days | 640 | 724 | 0 |
Reductions of notes payable, with maturities greater than 90 days | -442 | -707 | 0 |
Issuances of long-term debt | 645 | 1,727 | 895 |
Reductions of long-term debt | -762 | -750 | -945 |
Net issuances of common stock | 475 | 229 | 291 |
Common stock repurchases | -544 | -63 | -798 |
Cash dividends | -653 | -622 | -604 |
Other | 24 | 0 | 15 |
Net cash provided by (used in) financing activities | -1,141 | 1,317 | -957 |
Effect of exchange rate changes on cash and cash equivalents | -33 | -9 | -35 |
Increase (decrease) in cash and cash equivalents | -8 | -179 | 16 |
Cash and cash equivalents at beginning of period | 281 | 460 | 444 |
Cash and cash equivalents at end of period | $273 | $281 | $460 |
Accounting_Policies
Accounting Policies | 12 Months Ended |
Dec. 28, 2013 | |
Accounting Policies [Abstract] | ' |
Accounting Policies [Text Block] | ' |
Kellogg Company and Subsidiaries | |
Notes to Consolidated Financial Statements | |
NOTE 1 | |
ACCOUNTING POLICIES | |
Basis of presentation | |
The consolidated financial statements include the accounts of the Kellogg Company, those of the subsidiaries that it controls due to ownership of a majority voting interest and the accounts of the variable interest entities (VIEs) of which Kellogg Company is the primary beneficiary (Kellogg or the Company). The Company continually evaluates its involvement with VIEs to determine whether it has variable interests and is the primary beneficiary of the VIE. When these criteria are met, the Company is required to consolidate the VIE. The Company's share of earnings or losses of nonconsolidated affiliates is included in its consolidated operating results using the equity method of accounting when it is able to exercise significant influence over the operating and financial decisions of the affiliate. The Company uses the cost method of accounting if it is not able to exercise significant influence over the operating and financial decisions of the affiliate. Intercompany balances and transactions are eliminated. | |
The Company's fiscal year normally ends on the Saturday closest to December 31 and as a result, a 53rd week is added approximately every sixth year. The Company's 2013, 2012 and 2011 fiscal years each contained 52 weeks and ended on December 28, 2013, December 29, 2012 and December 31, 2011, respectively. The next fiscal year which will contain a 53rd week for the Company will be 2014, ending on January 3, 2015. | |
Use of estimates | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the periods reported. Actual results could differ from those estimates. | |
Cash and cash equivalents | |
Highly liquid investments with remaining stated maturities of three months or less when purchased are considered cash equivalents and recorded at cost. | |
Accounts receivable | |
Accounts receivable consists principally of trade receivables, which are recorded at the invoiced amount, net of allowances for doubtful accounts and prompt payment discounts. Trade receivables do not bear interest. The allowance for doubtful accounts represents management's estimate of the amount of probable credit losses in existing accounts receivable, as determined from a review of past due balances and other specific account data. Account balances are written off against the allowance when management determines the receivable is uncollectible. The Company does not have off-balance sheet credit exposure related to its customers. | |
Inventories | |
Inventories are valued at the lower of cost or market. Cost is determined on an average cost basis. | |
Property | |
The Company's property consists mainly of plants and equipment used for manufacturing activities. These assets are recorded at cost and depreciated over estimated useful lives using straight-line methods for financial reporting and accelerated methods, where permitted, for tax reporting. Major property categories are depreciated over various periods as follows (in years): manufacturing machinery and equipment 5-30; office equipment 4-5; computer equipment and capitalized software 3-7; building components 15-25; building structures 50. Cost includes interest associated with significant capital projects. Plant and equipment are reviewed for impairment when conditions indicate that the carrying value may not be recoverable. Such conditions include an extended period of idleness or a plan of disposal. Assets to be disposed of at a future date are depreciated over the remaining period of use. Assets to be sold are written down to realizable value at the time the assets are being actively marketed for sale and a sale is expected to occur within one year. As of year-end 2013 and 2012, the carrying value of assets held for sale was insignificant. | |
Goodwill and other intangible assets | |
Goodwill and indefinite-lived intangibles are not amortized, but are tested at least annually for impairment of value and whenever events or changes in circumstances indicate the carrying amount of the asset may be impaired. An intangible asset with a finite life is amortized on a straight-line basis over the estimated useful life. | |
For the goodwill impairment test, the fair value of the reporting units are estimated based on market multiples. This approach employs market multiples based on earnings before interest, taxes, depreciation and amortization, earnings for companies that are comparable to the Company's reporting units and discounted cash flow. The assumptions used for the impairment test are consistent with those utilized by a market participant performing similar valuations for the Company's reporting units. | |
Similarly, impairment testing of other intangible assets requires a comparison of carrying value to fair value of that particular asset. Fair values of non-goodwill intangible assets are based primarily on projections of future cash flows to be generated from that asset. For instance, cash flows related to a particular trademark would be based on a projected royalty stream attributable to branded product sales, discounted at rates consistent with rates used by market participants. | |
These estimates are made using various inputs including historical data, current and anticipated market conditions, management plans, and market comparables. | |
Revenue recognition | |
The Company recognizes sales upon delivery of its products to customers. Revenue, which includes shipping and handling charges billed to the customer, is reported net of applicable provisions for discounts, returns, allowances, and various government withholding taxes. Methodologies for determining these provisions are dependent on local customer pricing and promotional practices, which range from contractually fixed percentage price reductions to reimbursement based on actual occurrence or performance. Where applicable, future reimbursements are estimated based on a combination of historical patterns and future expectations regarding specific in-market product performance. | |
Advertising and promotion | |
The Company expenses production costs of advertising the first time the advertising takes place. Advertising expense is classified in selling, general and administrative (SGA) expense. | |
The Company classifies promotional payments to its customers, the cost of consumer coupons, and other cash redemption offers in net sales. The cost of promotional package inserts is recorded in cost of goods sold (COGS). Other types of consumer promotional expenditures are recorded in SGA expense. | |
Research and development | |
The costs of research and development (R&D) are expensed as incurred and are classified in SGA expense. R&D includes expenditures for new product and process innovation, as well as significant technological improvements to existing products and processes. The Company's R&D expenditures primarily consist of internal salaries, wages, consulting, and supplies attributable to time spent on R&D activities. Other costs include depreciation and maintenance of research facilities and equipment, including assets at manufacturing locations that are temporarily engaged in pilot plant activities. | |
Stock-based compensation | |
The Company uses stock-based compensation, including stock options, restricted stock, restricted stock units, and executive performance shares, to provide long-term performance incentives for its global workforce. | |
The Company classifies pre-tax stock compensation expense principally in SGA expense within its corporate operations. Expense attributable to awards of equity instruments is recorded in capital in excess of par value in the Consolidated Balance Sheet. | |
Certain of the Company's stock-based compensation plans contain provisions that accelerate vesting of awards upon retirement, disability, or death of eligible employees and directors. A stock-based award is considered vested for expense attribution purposes when the employee's retention of the award is no longer contingent on providing subsequent service. Accordingly, the Company recognizes compensation cost immediately for awards granted to retirement-eligible individuals or over the period from the grant date to the date retirement eligibility is achieved, if less than the stated vesting period. | |
The Company recognizes compensation cost for stock option awards that have a graded vesting schedule on a straight-line basis over the requisite service period for the entire award. | |
Corporate income tax benefits realized upon exercise or vesting of an award in excess of that previously recognized in earnings (“windfall tax benefit”) is recorded in other financing activities in the Consolidated Statement of Cash Flows. Realized windfall tax benefits are credited to capital in excess of par value in the Consolidated Balance Sheet. Realized shortfall tax benefits (amounts which are less than that previously recognized in earnings) are first offset against the cumulative balance of windfall tax benefits, if any, and then charged directly to income tax expense. The Company currently has sufficient cumulative windfall tax benefits to absorb arising shortfalls, such that earnings were not affected during the periods presented. Correspondingly, the Company includes the impact of pro forma deferred tax assets (i.e., the “as if” windfall or shortfall) for purposes of determining assumed proceeds in the treasury stock calculation of diluted earnings per share. | |
Income taxes | |
The Company recognizes uncertain tax positions based on a benefit recognition model. Provided that the tax position is deemed more likely than not of being sustained, the Company recognizes the largest amount of tax benefit that is greater than 50 percent likely of being ultimately realized upon settlement. The tax position is derecognized when it is no longer more likely than not of being sustained. The Company classifies income tax-related interest and penalties as interest expense and SGA expense, respectively, on the Consolidated Statement of Income. The current portion of the Company's unrecognized tax benefits is presented in the Consolidated Balance Sheet in other current assets and other current liabilities, and the amounts expected to be settled after one year are recorded in other assets and other liabilities. | |
Income taxes are provided on the portion of foreign earnings that is expected to be remitted to and taxable in the United States. | |
Derivative Instruments | |
The fair value of derivative instruments is recorded in other current assets, other assets, other current liabilities or other liabilities. Gains and losses representing either hedge ineffectiveness, hedge components excluded from the assessment of effectiveness, or hedges of translational exposure are recorded in the Consolidated Statement of Income in other income (expense), net (OIE). In the Consolidated Statement of Cash Flows, settlements of cash flow and fair value hedges are classified as an operating activity; settlements of all other derivative instruments, including instruments for which hedge accounting has been discontinued, are classified consistent with the nature of the instrument. | |
Cash flow hedges. Qualifying derivatives are accounted for as cash flow hedges when the hedged item is a forecasted transaction. Gains and losses on these instruments are recorded in other comprehensive income until the underlying transaction is recorded in earnings. When the hedged item is realized, gains or losses are reclassified from accumulated other comprehensive income (loss) (AOCI) to the Consolidated Statement of Income on the same line item as the underlying transaction. | |
Fair value hedges. Qualifying derivatives are accounted for as fair value hedges when the hedged item is a recognized asset, liability, or firm commitment. Gains and losses on these instruments are recorded in earnings, offsetting gains and losses on the hedged item. | |
Net investment hedges. Qualifying derivative and nonderivative financial instruments are accounted for as net investment hedges when the hedged item is a nonfunctional currency investment in a subsidiary. Gains and losses on these instruments are included in foreign currency translation adjustments in AOCI. | |
Derivatives not designated for hedge accounting. Gains and losses on these instruments are recorded in the Consolidated Statement of Income, on the same line item as the underlying hedged item. | |
Other contracts. The Company periodically enters into foreign currency forward contracts and options to reduce volatility in the translation of foreign currency earnings to U.S. dollars. Gains and losses on these instruments are recorded in OIE, generally reducing the exposure to translation volatility during a full-year period. | |
Foreign currency exchange risk. The Company is exposed to fluctuations in foreign currency cash flows related primarily to third-party purchases, intercompany transactions and when applicable, nonfunctional currency denominated third-party debt. The Company is also exposed to fluctuations in the value of foreign currency investments in subsidiaries and cash flows related to repatriation of these investments. Additionally, the Company is exposed to volatility in the translation of foreign currency denominated earnings to U.S. dollars. Management assesses foreign currency risk based on transactional cash flows and translational volatility and may enter into forward contracts, options, and currency swaps to reduce fluctuations in long or short currency positions. Forward contracts and options are generally less than 18 months duration. Currency swap agreements are established in conjunction with the term of underlying debt issues. | |
For foreign currency cash flow and fair value hedges, the assessment of effectiveness is generally based on changes in spot rates. Changes in time value are reported in OIE. | |
Interest rate risk. The Company is exposed to interest rate volatility with regard to future issuances of fixed rate debt and existing and future issuances of variable rate debt. The Company periodically uses interest rate swaps, including forward-starting swaps, to reduce interest rate volatility and funding costs associated with certain debt issues, and to achieve a desired proportion of variable versus fixed rate debt, based on current and projected market conditions. | |
Fixed-to-variable interest rate swaps are accounted for as fair value hedges and the assessment of effectiveness is based on changes in the fair value of the underlying debt, using incremental borrowing rates currently available on loans with similar terms and maturities. | |
Price risk. The Company is exposed to price fluctuations primarily as a result of anticipated purchases of raw and packaging materials, fuel, and energy. The Company has historically used the combination of long-term contracts with suppliers, and exchange-traded futures and option contracts to reduce price fluctuations in a desired percentage of forecasted raw material purchases over a duration of generally less than 18 months. | |
Certain commodity contracts are accounted for as cash flow hedges, while others are marked to market through earnings. The assessment of effectiveness for exchange-traded instruments is based on changes in futures prices. The assessment of effectiveness for over-the-counter transactions is based on changes in designated indices. | |
Pension benefits, nonpension postretirement and postemployment benefits | |
The Company sponsors a number of U.S. and foreign plans to provide pension, health care, and other welfare benefits to retired employees, as well as salary continuance, severance, and long-term disability to former or inactive employees. | |
The recognition of benefit expense is based on actuarial assumptions, such as discount rate, long-term rate of compensation increase, long-term rate of return on plan assets and health care cost trend rate, and is reported in COGS and SGA expense on the Consolidated Statement of Income. | |
Postemployment benefits. The Company recognizes an obligation for postemployment benefit plans that vest or accumulate with service. Obligations associated with the Company's postemployment benefit plans, which are unfunded, are included in other current liabilities and other liabilities on the Consolidated Balance Sheet. All gains and losses are recognized over the average remaining service period of active plan participants. | |
Postemployment benefits that do not vest or accumulate with service or benefits to employees in excess of those specified in the respective plans are expensed as incurred. | |
Pension and nonpension postretirement benefits. The Company recognizes actuarial gains and losses in operating results in the year in which they occur. Experience gains and losses are recognized annually as of the measurement date, which is the Company's fiscal year-end, or when remeasurement is otherwise required under generally accepted accounting principles. The Company uses the fair value of plan assets to calculate the expected return on plan assets. | |
Reportable segments are allocated service cost and amortization of prior service cost. All other components of pension and postretirement benefit expense, including interest cost, expected return on assets, and experience gains and losses are considered unallocated corporate costs and are not included in the measure of reportable segment operating results. See Note 16 for more information on reportable segments. | |
Management reviews the Company's expected long-term rates of return annually; however, the benefit trust investment performance for one particular year does not, by itself, significantly influence this evaluation. The expected rates of return are generally not revised provided these rates fall between the 25th and 75th percentile of expected long-term returns, as determined by the Company's modeling process. | |
For defined benefit pension and postretirement plans, the Company records the net overfunded or underfunded position as a pension asset or pension liability on the Consolidated Balance Sheet. | |
New accounting standards | |
Reporting of amounts reclassified out of Accumulated Other Comprehensive Income. In February 2013, the Financial Accounting Standards Board (FASB) issued an updated accounting standard requiring entities to present information about reclassifications out of accumulated other comprehensive income in a single note or on the face of the financial statements. The Company adopted the updated standard in 2013. | |
Indefinite-lived intangible asset impairment testing. In July 2012, the FASB issued an updated accounting standard to allow entities the option to first assess qualitative factors to determine whether it is necessary to perform the quantitative indefinite-lived intangible asset impairment test. Under the updated standard an entity would not be required to perform the quantitative impairment test unless the entity determines, based on a qualitative assessment, that it is more likely than not that an indefinite-lived intangible asset is impaired. The Company adopted the revised guidance in 2013, with no impact to the Consolidated Financial Statements. | |
Presentation of Comprehensive Income. In June 2011, the Financial Accounting Standards Board (FASB) issued a new accounting standard requiring most entities to present items of net income and other comprehensive income either in one continuous statement — referred to as the statement of comprehensive income — or in two separate, but consecutive, statements of net income and comprehensive income. The update does not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income. The Company adopted this new standard in 2012. | |
Goodwill impairment testing. In September 2011, the FASB issued an updated accounting standard to allow entities the option to first assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. Under the updated standard an entity would not be required to calculate the fair value of a reporting unit unless the entity determines, based on a qualitative assessment, that it is more likely than not that its fair value is less than its carrying amount. The Company adopted the revised guidance in 2012, with no impact to the Consolidated Financial Statements. | |
Multiemployer pension and postretirement benefit plans. In September 2011, the FASB issued an updated accounting standard to provide more information about an employer's financial obligations to multiemployer pension and postretirement benefit plans. Previously, employers were only required to disclose their total contributions to all multiemployer plans in which they participate and certain year-to-year changes in circumstances. The enhanced disclosures required under the revised guidance provide additional information regarding the overall financial health of the plan and the level of the employer's participation in the plan. The Company adopted the revised guidance in 2012. Refer to Note 10 for disclosures regarding multiemployer plans in which the Company participates. | |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | |||||||||||||||||||||||
Dec. 28, 2013 | ||||||||||||||||||||||||
Acquisitions, Goodwill and Other Intangible Assets [Abstract] | ' | |||||||||||||||||||||||
Acquisitions, Goodwill and Other Intangible Assets [Text Block] | ' | |||||||||||||||||||||||
NOTE 2 | ||||||||||||||||||||||||
GOODWILL AND OTHER INTANGIBLE ASSETS | ||||||||||||||||||||||||
Pringles® acquisition | ||||||||||||||||||||||||
On May 31, 2012, the Company completed its acquisition of the Pringles® business (Pringles) from The Procter & Gamble Company (P&G) for $2.695 billion, or $2.683 billion net of cash and cash equivalents, subject to certain purchase price adjustments, which resulted in a reduction of the purchase price by approximately $15 million to $2.668 billion net of cash and cash equivalents. The acquisition was accounted for under the purchase method and was financed through a combination of cash on hand, and short-term and long-term debt. The assets and liabilities of Pringles are included in the Consolidated Balance Sheet as of December 28, 2013 and December 29, 2012 and the results of the Pringles operations subsequent to the acquisition date are included in the Consolidated Statement of Income. | ||||||||||||||||||||||||
The purchase price allocation, including the allocation to reportable segments, was completed during the quarter ended June 29, 2013 when the valuations of fixed assets and intangible assets were finalized resulting in a reallocation from that reported as of December 29, 2012 of goodwill between the Company's reportable segments. Prior year amounts were revised to reflect these changes as of the date of the acquisition, resulting in reductions to goodwill and the foreign currency translation component of other comprehensive income (OCI) of $15 million as of December 29, 2012. | ||||||||||||||||||||||||
During the quarter ended September 28, 2013, the Company recorded an immaterial correction of an error to the purchase price allocation for Pringles that was outside of the measurement period, which resulted in an increase to other non-current liabilities, goodwill and non-current deferred tax assets of $15 million, $13 million and $2 million, respectively. The goodwill of $13 million was allocated to our operating segments as follows: Europe, $10 million and Asia Pacific, $3 million. | ||||||||||||||||||||||||
The final acquired assets and assumed liabilities include the following: | ||||||||||||||||||||||||
(millions) | 31-May-12 | |||||||||||||||||||||||
Accounts receivable, net | $ | 128 | ||||||||||||||||||||||
Inventories | 103 | |||||||||||||||||||||||
Other prepaid assets | 18 | |||||||||||||||||||||||
Property | 317 | |||||||||||||||||||||||
Goodwill | 1,319 | |||||||||||||||||||||||
Other intangibles: | ||||||||||||||||||||||||
Definite-lived intangible assets | 79 | |||||||||||||||||||||||
Brand | 776 | |||||||||||||||||||||||
Other assets: | ||||||||||||||||||||||||
Deferred income taxes | 23 | |||||||||||||||||||||||
Other | 16 | |||||||||||||||||||||||
Notes payable | -3 | |||||||||||||||||||||||
Accounts payable | -9 | |||||||||||||||||||||||
Other current liabilities | -24 | |||||||||||||||||||||||
Other liabilities | -75 | |||||||||||||||||||||||
$ | 2,668 | |||||||||||||||||||||||
Goodwill of $645 million is expected to be deductible for statutory tax purposes. | ||||||||||||||||||||||||
Goodwill is calculated as the excess of the purchase price over the fair value of the net assets recognized. The goodwill recorded as part of the acquisition primarily reflects the value of providing an established platform to leverage the Company's existing brands in the international snacks category, synergies expected to arise from the combined brand portfolios, as well as any intangible assets that do not qualify for separate recognition. | ||||||||||||||||||||||||
For the year ended December 28, 2013, the Company incurred integration-related costs as part of the Pringles acquisition as follows: $46 million recorded in SGA, $15 million recorded in COGS and $5 million in net sales. Transaction fees and other integration-related costs incurred through December 29, 2012 were as follows: $73 million recorded in SGA, $3 million recorded in COGS and $5 million in fees for a bridge financing facility which are recorded in OIE. | ||||||||||||||||||||||||
For the year ended December 28, 2013, Pringles contributed net revenues of $1,658 million and net earnings of $132 million, including the integration-related costs discussed above. Through December 29, 2012, Pringles contributed net revenues of $887 million and net earnings of $31 million, including the transaction fees and other integration-related costs discussed above. The unaudited pro forma combined historical results, as if Pringles had been acquired at the beginning of fiscal 2011 are estimated to be: | ||||||||||||||||||||||||
(millions, except per share data) | 2012 | 2011 | ||||||||||||||||||||||
Net sales | $ | 14,862 | $ | 14,722 | ||||||||||||||||||||
Net income | $ | 1,001 | $ | 954 | ||||||||||||||||||||
Net income (loss) attributable to noncontrolling interests | - | -2 | ||||||||||||||||||||||
Net income attributable to Kellogg Company | $ | 1,001 | $ | 956 | ||||||||||||||||||||
Net earnings per share | $ | 2.78 | $ | 2.63 | ||||||||||||||||||||
The pro forma results include transaction and bridge financing costs, interest expense on the debt issued to finance the acquisition, amortization of the definite lived intangible assets, and depreciation based on estimated fair value and useful lives. The pro forma results are not necessarily indicative of what actually would have occurred if the acquisition had been completed as of the beginning of 2011, nor are they necessarily indicative of future consolidated results. | ||||||||||||||||||||||||
In December 2012, the Company also entered into a series of agreements with a third party including a loan of $44 million which is convertible into approximately 85% of the equity of the entity. Due to this convertible loan and other agreements, the Company determined that the entity is a VIE and the Company is the primary beneficiary. Accordingly, the Company has consolidated the financial statements of the VIE in 2012 and treated the consolidation as a business acquisition within the U.S. Snacks reportable segment, which resulted in the following as of December 29, 2012: current assets, $14 million; property, $36 million; amortizable intangibles and other non-current assets, $26 million; goodwill, $76 million; current liabilities, $2 million; notes payable and long-term debt, $39 million; non-current deferred tax liabilities, $8 million; and noncontrolling interests, $59 million. During 2013, the allocation was completed resulting in increases to goodwill and non-current deferred tax liabilities of $12 million. | ||||||||||||||||||||||||
This entity had property and equipment with a carrying value of $35 million and notes payable and current and long-term debt of $30 million as of December 28, 2013. The liabilities recognized as a result of consolidating this entity do not represent additional claims on the Company's general assets. Conversely, general creditors would not have claims against the assets of the VIE. | ||||||||||||||||||||||||
Changes in the carrying amount of goodwill are presented in the following table. | ||||||||||||||||||||||||
Changes in the carrying amount of goodwill | ||||||||||||||||||||||||
U.S. | North | |||||||||||||||||||||||
Morning | U.S. | U.S. | America | Latin | Asia | Consoli- | ||||||||||||||||||
(millions) | Foods | Snacks | Specialty | Other | Europe | America | Pacific | dated | ||||||||||||||||
31-Dec-11 | $ | 80 | $ | 3,257 | $ | - | $ | 202 | $ | 57 | $ | - | $ | 27 | $ | 3,623 | ||||||||
Pringles goodwill | 53 | 434 | 82 | 77 | 356 | 88 | 216 | 1,306 | ||||||||||||||||
Other goodwill | - | 76 | - | - | - | - | - | 76 | ||||||||||||||||
Currency translation adjustment | - | - | - | 1 | 25 | 4 | 3 | 33 | ||||||||||||||||
29-Dec-12 | $ | 133 | $ | 3,767 | $ | 82 | $ | 280 | $ | 438 | $ | 92 | $ | 246 | $ | 5,038 | ||||||||
Pringles goodwill | - | - | - | - | 10 | - | 3 | 13 | ||||||||||||||||
Other goodwill | - | 12 | - | - | - | - | - | 12 | ||||||||||||||||
Currency translation adjustment | - | - | - | -2 | 4 | -3 | -11 | -12 | ||||||||||||||||
28-Dec-13 | $ | 133 | $ | 3,779 | $ | 82 | $ | 278 | $ | 452 | $ | 89 | $ | 238 | $ | 5,051 | ||||||||
Intangible assets subject to amortization | ||||||||||||||||||||||||
(millions) | ||||||||||||||||||||||||
U.S. | North | |||||||||||||||||||||||
Morning | U.S. | U.S. | America | Latin | Asia | Consoli- | ||||||||||||||||||
Gross carrying amount | Foods | Snacks | Specialty | Other | Europe | America | Pacific | dated | ||||||||||||||||
31-Dec-11 | $ | 28 | $ | 18 | $ | - | $ | 5 | $ | 2 | $ | 7 | $ | - | $ | 60 | ||||||||
Pringles customer relationships | - | 30 | - | - | 39 | - | 10 | 79 | ||||||||||||||||
Other intangible assets | - | 22 | - | - | - | - | - | 22 | ||||||||||||||||
Currency translation adjustment | - | - | - | - | 2 | - | - | 2 | ||||||||||||||||
29-Dec-12 | $ | 28 | $ | 70 | $ | - | $ | 5 | $ | 43 | $ | 7 | $ | 10 | $ | 163 | ||||||||
Currency translation adjustment | - | - | - | - | 1 | - | - | 1 | ||||||||||||||||
28-Dec-13 | $ | 28 | $ | 70 | $ | - | $ | 5 | $ | 44 | $ | 7 | $ | 10 | $ | 164 | ||||||||
Accumulated Amortization | ||||||||||||||||||||||||
31-Dec-11 | $ | 28 | $ | 9 | $ | - | $ | 3 | $ | 2 | $ | 7 | $ | - | $ | 49 | ||||||||
Amortization | - | 3 | - | - | 1 | - | - | 4 | ||||||||||||||||
29-Dec-12 | $ | 28 | $ | 12 | $ | - | $ | 3 | $ | 3 | $ | 7 | $ | - | $ | 53 | ||||||||
Amortization | - | 4 | - | 1 | 3 | - | 1 | 9 | ||||||||||||||||
28-Dec-13 | $ | 28 | $ | 16 | $ | - | $ | 4 | $ | 6 | $ | 7 | $ | 1 | $ | 62 | ||||||||
Intangible assets subject to amortization, net | ||||||||||||||||||||||||
31-Dec-11 | $ | - | $ | 9 | $ | - | $ | 2 | $ | - | $ | - | $ | - | $ | 11 | ||||||||
Pringles customer relationships | - | 30 | - | - | 39 | - | 10 | 79 | ||||||||||||||||
Other intangible assets | - | 22 | - | - | - | - | - | 22 | ||||||||||||||||
Amortization | - | -3 | - | - | -1 | - | - | -4 | ||||||||||||||||
Currency translation adjustment | - | - | - | - | 2 | - | - | 2 | ||||||||||||||||
29-Dec-12 | $ | - | $ | 58 | $ | - | $ | 2 | $ | 40 | $ | - | $ | 10 | $ | 110 | ||||||||
Amortization (a) | - | -4 | - | -1 | -3 | - | -1 | -9 | ||||||||||||||||
Currency translation adjustment | - | - | - | - | 1 | - | - | 1 | ||||||||||||||||
28-Dec-13 | $ | - | $ | 54 | $ | - | $ | 1 | $ | 38 | $ | - | $ | 9 | $ | 102 | ||||||||
(a) The currently estimated aggregate amortization expense for each of the next five succeeding fiscal periods is approximately $9 million per year. | ||||||||||||||||||||||||
Intangible assets not subject to amortization | ||||||||||||||||||||||||
U.S. | North | |||||||||||||||||||||||
Morning | U.S. | U.S. | America | Latin | Asia | Consoli- | ||||||||||||||||||
(millions) | Foods | Snacks | Specialty | Other | Europe | America | Pacific | dated | ||||||||||||||||
31-Dec-11 | $ | 63 | $ | 1,285 | $ | - | $ | 95 | $ | - | $ | - | $ | - | $ | 1,443 | ||||||||
Pringles brand | - | 340 | - | - | 436 | - | - | 776 | ||||||||||||||||
Currency translation adjustment | - | - | - | - | 30 | - | - | 30 | ||||||||||||||||
29-Dec-12 | $ | 63 | $ | 1,625 | $ | - | $ | 95 | $ | 466 | $ | - | $ | - | $ | 2,249 | ||||||||
Currency translation adjustment | - | - | - | - | 16 | - | - | 16 | ||||||||||||||||
28-Dec-13 | $ | 63 | $ | 1,625 | $ | - | $ | 95 | $ | 482 | $ | - | $ | - | $ | 2,265 | ||||||||
Exit_or_Disposal_Activities
Exit or Disposal Activities | 12 Months Ended | ||||||||||
Dec. 28, 2013 | |||||||||||
Exit or Disposal Activities [Abstract] | ' | ||||||||||
Exit or Disposal Activities [Text Block] | ' | ||||||||||
NOTE 3 | |||||||||||
RESTRUCTURING AND COST REDUCTION ACTIVITIES | |||||||||||
The Company views its continued spending on restructuring and cost reduction activities as part of its ongoing operating principles to provide greater visibility in achieving its long-term profit growth targets. Initiatives undertaken are currently expected to recover cash implementation costs within a five-year period of completion. Upon completion (or as each major stage is completed in the case of multi-year programs), the project begins to deliver cash savings and/or reduced depreciation. | |||||||||||
Cost reduction initiatives | |||||||||||
Prior to the announcement of Project K in 2013, the Company commenced various COGS and SGA cost reduction initiatives. The COGS initiatives are intended to optimize the Company's global manufacturing network, reduce waste, and develop best practices on a global basis. The SGA initiatives focus on improvements in the efficiency and effectiveness of various global support functions. | |||||||||||
During 2013, the Company recorded $42 million of charges associated with cost reduction initiatives. The charges were comprised of $21 million being recorded in COGS and $21 million recorded in SGA expense. At December 28, 2013, exit cost reserves were $1 million, related to severance payments which will be made in 2014. | |||||||||||
The Company recorded $56 million of costs in 2012 associated with cost reduction initiatives. The charges were comprised of $43 million being recorded in COGS and $13 million recorded in SGA expense. At December 29, 2012, exit cost reserves were $1 million, related to severance payments. | |||||||||||
During 2011, the Company recorded $61 million of costs associated with cost reduction initiatives. The charges were comprised of $36 million being recorded in COGS and $25 million recorded in SGA expense. Exit cost reserves at December 31, 2011 were $1 million related to severance payments. | |||||||||||
The tables below provide the details for the charges incurred during the years ended 2013, 2012 and 2011 and program costs to date for programs currently active as of December 28, 2013. | |||||||||||
Program costs to date | |||||||||||
(millions) | 2013 | 2012 | 2011 | 28-Dec-13 | |||||||
Employee related costs | $ | 7 | $ | - | $ | 18 | $ | 38 | |||
Asset related costs | 4 | 4 | 4 | 8 | |||||||
Asset impairment | 4 | 17 | - | 21 | |||||||
Other costs | 27 | 35 | 39 | 76 | |||||||
Total | $ | 42 | $ | 56 | $ | 61 | $ | 143 | |||
Program costs to date | |||||||||||
(millions) | 2013 | 2012 | 2011 | 28-Dec-13 | |||||||
U.S. Morning Foods | $ | 9 | $ | 16 | $ | 11 | $ | 21 | |||
U.S. Snacks | 11 | 10 | 24 | 47 | |||||||
U.S. Specialty | 2 | 1 | 1 | 6 | |||||||
North America Other | 2 | 6 | 6 | 4 | |||||||
Europe | 8 | 3 | 16 | 37 | |||||||
Latin America | 1 | 2 | 1 | 2 | |||||||
Asia Pacific | 8 | 18 | 2 | 26 | |||||||
Corporate | 1 | - | - | - | |||||||
Total | $ | 42 | $ | 56 | $ | 61 | $ | 143 | |||
Other costs incurred in 2013, 2012, and 2011 consist primarily of third-party incremental costs related to the development and implementation of new business capabilities primarily in North America. | |||||||||||
Project K | |||||||||||
In 2013, the Company announced Project K, a four-year efficiency and effectiveness program. The program is expected to generate a significant amount of savings, once all phases are approved and implemented, that will be invested in key strategic areas of focus for the business. The Company expects that this investment will drive future growth in revenues, gross margin, operating profit, and cash flow. | |||||||||||
The focus of the program will be to strengthen existing businesses in core markets, increase growth in developing and emerging markets, and drive an increased level of value-added innovation. The program is expected to provide a number of benefits, including an optimized supply chain infrastructure, the implementation of global business services, and a new global focus on categories. | |||||||||||
The Company currently anticipates that the program will result in total pre-tax charges, once all phases are approved and implemented, of $1.2 to $1.4 billion, with after-tax cash costs, including incremental capital expenditures, estimated to be $900 million to $1.1 billion. The Company currently expects the charges will consist of asset-related costs totaling $450 to $500 million which will consist primarily of asset impairments, accelerated depreciation and other exit-related costs; employee-related costs totaling $425 to $475 million which will include severance, pension and other termination benefits; and other costs totaling $325 to $425 million which will consist primarily of charges related to the design and implementation of global business capabilities. A significant portion of other costs are the result of the implementation of global business service centers which are intended to simplify and standardize business support processes. | |||||||||||
The Company currently expects that total pre-tax charges will impact reportable segments as follows: U.S. Morning Foods (approximately 17%), U.S. Snacks (approximately 7%), U.S. Specialty (approximately 1%), North America Other (approximately 3%), Europe (approximately 7%), Latin America (approximately 2%), Asia-Pacific (approximately 6%), and Corporate (approximately 57%). A majority of the costs impacting Corporate relate to additional initiatives to be executed after 2014 that are currently not fully defined. As the development of these initiatives is completed, the Company will update its estimated costs by reportable segment as needed. | |||||||||||
In 2013, the Company recognized charges of $208 million that have been attributed to the program. The charges comprised of $174 million being recorded in COGS and $34 million recorded in SGA. The tables below outline the details of these charges: | |||||||||||
Project K | |||||||||||
(millions) | 2013 | ||||||||||
Employee related costs | $ | 107 | |||||||||
Asset related costs | 6 | ||||||||||
Asset impairment | 66 | ||||||||||
Other costs | 29 | ||||||||||
Total | $ | 208 | |||||||||
(millions) | 2013 | ||||||||||
U.S. Morning Foods | $ | 100 | |||||||||
U.S. Snacks | 19 | ||||||||||
U.S. Specialty | 3 | ||||||||||
North America Other | 9 | ||||||||||
Europe | 19 | ||||||||||
Latin America | 4 | ||||||||||
Asia Pacific | 24 | ||||||||||
Corporate | 30 | ||||||||||
Total | $ | 208 | |||||||||
Employee related costs consisted of severance and pension charges. Asset impairments were recorded for fixed assets that were determined to be impaired and were written down to their estimated fair value. Asset related costs relate primarily to accelerated depreciation. See Note 12 for more information. Other costs incurred consist primarily of third-party incremental costs related to the development and implementation of global business capabilities. | |||||||||||
At December 28, 2013 exit cost reserves for Project K were $77 million, related to severance payments and other costs of which a substantial portion will be paid in 2014 and 2015. The following table provides details for Project K exit cost reserves. | |||||||||||
Employee Related | Asset | Asset Related | Other | ||||||||
Costs | Impairment | Costs | Costs | Total | |||||||
Liability as of December 29, 2012 | $ | - | $ | - | $ | - | $ | - | $ | - | |
2013 restructuring charges | 107 | 66 | 6 | 29 | 208 | ||||||
Cash payments | -7 | - | -1 | -17 | -25 | ||||||
Non-cash charges and other (a) | -35 | -66 | -5 | - | -106 | ||||||
Liability as of December 28, 2013 | $ | 65 | $ | - | $ | - | $ | 12 | $ | 77 | |
(a) Employee related non-cash charges consist of pension curtailment expense. |
Equity
Equity | 12 Months Ended | ||||||||
Dec. 28, 2013 | |||||||||
Equity [Abstract] | ' | ||||||||
Equity [Text Block] | ' | ||||||||
NOTE 4 | |||||||||
EQUITY | |||||||||
Earnings per share | |||||||||
Basic earnings per share is determined by dividing net income attributable to Kellogg Company by the weighted average number of common shares outstanding during the period. Diluted earnings per share is similarly determined, except that the denominator is increased to include the number of additional common shares that would have been outstanding if all dilutive potential common shares had been issued. Dilutive potential common shares consist principally of employee stock options issued by the Company, and to a lesser extent, certain contingently issuable performance shares. Basic earnings per share is reconciled to diluted earnings per share in the following table: | |||||||||
Net income | Average | ||||||||
attributable to | shares | Earnings | |||||||
(millions, except per share data) | Kellogg Company | outstanding | per share | ||||||
2013 | |||||||||
Basic | $ | 1,807 | 363 | $ | 4.98 | ||||
Dilutive potential common shares | 2 | -0.04 | |||||||
Diluted | $ | 1,807 | 365 | $ | 4.94 | ||||
2012 | |||||||||
Basic | $ | 961 | 358 | $ | 2.68 | ||||
Dilutive potential common shares | 2 | -0.01 | |||||||
Diluted | $ | 961 | 360 | $ | 2.67 | ||||
2011 | |||||||||
Basic | $ | 866 | 362 | $ | 2.39 | ||||
Dilutive potential common shares | 2 | -0.01 | |||||||
Diluted | $ | 866 | 364 | $ | 2.38 | ||||
The total number of anti-dilutive potential common shares excluded from the reconciliation for each period was (in millions): 2013-5.0; 2012-9.9; 2011-4.2. | |||||||||
Stock transactions | |||||||||
The Company issues shares to employees and directors under various equity-based compensation and stock purchase programs, as further discussed in Note 7. The number of shares issued during the periods presented was (in millions): 2013–10; 2012–5; 2011–7. The Company issued shares totaling less than one million in each of the years presented under Kellogg DirectTM , a direct stock purchase and dividend reinvestment plan for U.S. shareholders. | |||||||||
In December 2012, the Company's board of directors approved a share repurchase program authorizing the repurchase of up to $300 million during 2013. In April 2013, the Company's board of directors approved an authorization to repurchase up to $1 billion in shares through April 2014. In February 2014, the Company's board of directors approved a new authorization to repurchase up to $1.5 billion in shares through December 2015. This authorization supersedes the April 2013 authorization and is intended to allow the Company to repurchase shares for general corporate purposes and to offset issuances for employee benefit programs. In May 2013, the Company entered into an Accelerated Share Repurchase (ASR) Agreement with a financial institution counterparty and paid $355 million for the repurchase of shares during the term of the Agreement which extended through August 2013. During the second quarter of 2013, 4.9 million shares were initially delivered to the Company and accounted for as a reduction to Kellogg Company equity. The transaction was completed during the third quarter, at which time the Company received 0.6 million additional shares. The total number of shares delivered upon settlement of the ASR was based upon the volume weighted average price of the Company's stock over the term of the agreement. | |||||||||
During 2013, the Company repurchased 9 million shares of common stock for a total of $544 million. During 2012, the Company repurchased 1 million shares of common stock for a total of $63 million. During 2011, the Company repurchased 15 million shares of common stock at a total cost of $793 million. | |||||||||
Comprehensive income | |||||||||
Comprehensive income includes net income and all other changes in equity during a period except those resulting from investments by or distributions to shareholders. Other comprehensive income for all years presented consists of foreign currency translation adjustments, fair value adjustments associated with cash flow hedges and adjustments for net experience losses and prior service cost related to employee benefit plans. | |||||||||
Reclassifications out of Accumulated Other Comprehensive Income (AOCI) for the year ended December 28, 2013 consisted of the following: | |||||||||
(millions) | |||||||||
Details about AOCI | Amount reclassified | Line item impacted | |||||||
components | from AOCI | within Income Statement | |||||||
Gains and losses on cash flow hedges: | |||||||||
Foreign currency exchange contracts | $ | -10 | COGS | ||||||
Foreign currency exchange contracts | -2 | SGA | |||||||
Interest rate contracts | -4 | Interest expense | |||||||
Commodity contracts | 10 | COGS | |||||||
$ | -6 | Total before tax | |||||||
- | Tax (expense) benefit | ||||||||
$ | -6 | Net of tax | |||||||
Amortization of postretirement and postemployment benefits: | |||||||||
Net experience loss | $ | 5 | See Notes 8 and 9 for further details | ||||||
Prior service cost | 13 | See Notes 8 and 9 for further details | |||||||
$ | 18 | Total before tax | |||||||
-6 | Tax (expense) benefit | ||||||||
$ | 12 | Net of tax | |||||||
Total reclassifications | $ | 6 | Net of tax | ||||||
Accumulated other comprehensive income (loss) as of December 28, 2013 and December 29, 2012 consisted of the following: | |||||||||
December 28, | December 29, | ||||||||
(millions) | 2013 | 2012 | |||||||
Foreign currency translation adjustments | $ | -856 | $ | -832 | |||||
Cash flow hedges — unrealized net gain (loss) | 1 | -3 | |||||||
Postretirement and postemployment benefits: | |||||||||
Net experience loss | -15 | -29 | |||||||
Prior service cost | -66 | -82 | |||||||
Total accumulated other comprehensive income (loss) | $ | -936 | $ | -946 | |||||
Leases_and_Other_Commitments
Leases and Other Commitments | 12 Months Ended | |||||
Dec. 28, 2013 | ||||||
Leases [Abstract] | ' | |||||
Leases and Other Commitments [Text Block] | ' | |||||
NOTE 5 | ||||||
LEASES AND OTHER COMMITMENTS | ||||||
The Company's leases are generally for equipment and warehouse space. Rent expense on all operating leases was (in millions): 2013-$174; 2012-$174; 2011-$166. During 2013, the Company entered into less than $1 million in capital lease agreements. In 2012, the Company entered into approximately $4 million in capital lease agreements to finance the purchase of equipment. The Company did not enter into any material capital lease agreements during 2011. | ||||||
At December 28, 2013, future minimum annual lease commitments under non-cancelable operating and capital leases were as follows: | ||||||
Operating | Capital | |||||
(millions) | leases | leases | ||||
2014 | $ | 172 | $ | 1 | ||
2015 | 145 | 1 | ||||
2016 | 119 | 1 | ||||
2017 | 85 | 1 | ||||
2018 | 71 | 1 | ||||
2019 and beyond | 81 | 2 | ||||
Total minimum payments | $ | 673 | $ | 7 | ||
Amount representing interest | -1 | |||||
Obligations under capital leases | 6 | |||||
Obligations due within one year | -1 | |||||
Long-term obligations under capital leases | $ | 5 | ||||
The Company has provided various standard indemnifications in agreements to sell and purchase business assets and lease facilities over the past several years, related primarily to pre-existing tax, environmental, and employee benefit obligations. Certain of these indemnifications are limited by agreement in either amount and/or term and others are unlimited. The Company has also provided various “hold harmless” provisions within certain service type agreements. Because the Company is not currently aware of any actual exposures associated with these indemnifications, management is unable to estimate the maximum potential future payments to be made. At December 28, 2013, the Company had not recorded any liability related to these indemnifications. |
Debt
Debt | 12 Months Ended | |||||||||||||
Dec. 28, 2013 | ||||||||||||||
Debt [Abstract] | ' | |||||||||||||
Debt [Text Block] | ' | |||||||||||||
NOTE 6 | ||||||||||||||
DEBT | ||||||||||||||
The following table presents the components of notes payable at year end December 28, 2013 and December 29, 2012: | ||||||||||||||
(millions) | 2013 | 2012 | ||||||||||||
Principal amount | Effective interest rate | Principal amount | Effective interest rate | |||||||||||
U.S. commercial paper | $ | 249 | 0.22 | % | $ | 853 | 0.26 | % | ||||||
Europe commercial paper | 437 | 0.23 | 159 | 0.18 | ||||||||||
Bank borrowings | 53 | 53 | ||||||||||||
Total | $ | 739 | $ | 1,065 | ||||||||||
The following table presents the components of long-term debt at year end December 28, 2013 and December 29, 2012: | ||||||||||||||
(millions) | 2013 | 2012 | ||||||||||||
(a) | 7.45% U.S. Dollar Debentures due 2031 | $ | 1,089 | $ | 1,091 | |||||||||
(b) | 4.0% U.S. Dollar Notes due 2020 | 974 | 993 | |||||||||||
(c) | 4.45% U.S. Dollar Notes due 2016 | 767 | 772 | |||||||||||
(d) | 3.125% U.S. Dollar Debentures due 2022 | 682 | 694 | |||||||||||
(e) | 1.875% U.S. Dollar Notes due 2016 | 505 | 509 | |||||||||||
(f) | 4.15% U.S. Dollar Notes due 2019 | 488 | 513 | |||||||||||
(g) | 3.25% U.S. Dollar Notes due 2018 | 411 | 420 | |||||||||||
(h) | 2.75% U.S. Dollar Notes due 2023 | 398 | - | |||||||||||
(i) | 1.75% U.S. Dollar Notes due 2017 | 395 | 398 | |||||||||||
(j) | 1.125% U.S. Dollar Notes due 2015 | 350 | 350 | |||||||||||
(k) | 2.10% Canadian Dollar Notes 2014 | 282 | 302 | |||||||||||
(l) | Floating-rate U.S. Dollar Notes due 2015 | 250 | - | |||||||||||
(m) | 4.25% U.S. Dollar Notes due 2013 | - | 754 | |||||||||||
Other | 28 | 41 | ||||||||||||
6,619 | 6,837 | |||||||||||||
Less current maturities | -289 | -755 | ||||||||||||
Balance at year end | $ | 6,330 | $ | 6,082 | ||||||||||
In March 2001, the Company issued long-term debt instruments, primarily to finance the acquisition of Keebler Foods Company, of which $1.1 billion of thirty-year 7.45% Debentures remain outstanding. The effective interest rate on the Debentures, reflecting issuance discount and hedge settlement, was 7.54%. The Debentures contain standard events of default and covenants, and can be redeemed in whole or in part by the Company at any time at prices determined under a formula (but not less than 100% of the principal amount plus unpaid interest to the redemption date). | ||||||||||||||
In December 2010, the Company issued $1.0 billion of ten-year 4.0% fixed rate U.S. Dollar Notes, using net proceeds from these Notes for incremental pension and postretirement benefit plan contributions and to retire a portion of its commercial paper. The effective interest rate on these Notes, reflecting issuance discount and hedge settlement, was 2.90%. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. In March 2013, the Company entered into interest rate swaps with notional amounts totaling $400 million, which effectively converted a portion of these Notes from a fixed rate to a floating rate obligation for the remainder of the ten-year term. These derivative instruments were designated as fair value hedges of the debt obligation. The fair value adjustment for the interest rate swaps was $20 million, and was recorded as a decrease in the hedged debt balance at December 28, 2013. | ||||||||||||||
In May 2009, the Company issued $750 million of seven-year 4.45% fixed rate U.S. Dollar Notes, using net proceeds from these Notes to retire a portion of its commercial paper. The effective interest rate on these Notes, reflecting issuance discount, hedge settlement and interest rate swaps was 3.45% at December 28, 2013. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. The Company entered into interest rate swaps in February 2011 and March 2012 with notional amounts totaling $200 million and $550 million, respectively, which effectively converted these Notes from a fixed rate to a floating rate obligation. These derivative instruments were designated as fair value hedges of the debt obligation. In April 2013, the Company terminated all of the interest rate swaps. The resulting unamortized gain of $18 million at December 28, 2013 will be amortized to interest expense over the remaining term of the Notes. | ||||||||||||||
In May 2012, the Company issued $700 million of ten-year 3.125% U.S. Dollar Notes, using net proceeds from these Notes for general corporate purposes, including financing a portion of the acquisition of Pringles. The effective interest rate on these Notes, reflecting issuance discount and interest rate swaps, was 2.74% at December 28, 2013. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. In May 2013, the Company entered into interest rate swaps with notional amounts totaling $200 million, which effectively converted a portion of these Notes from a fixed rate to a floating rate obligation for the remainder of the ten-year term. These derivative instruments were designated as fair value hedges of the debt obligation. The fair value adjustment for the interest rate swaps was $13 million, and was recorded as a decrease in the hedged debt balance at December 28, 2013. | ||||||||||||||
In November 2011, the Company issued $500 million of five-year 1.875% fixed rate U.S. Dollar Notes, using net proceeds from these Notes for general corporate purposes including repayment of a portion of its commercial paper. The effective interest rate on these Notes, reflecting issuance discount, hedge settlement and interest rate swaps was 0.98% at December 28, 2013. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. In March 2012, the Company entered into interest rate swaps which effectively converted these Notes from a fixed rate to a floating rate obligation. These derivative instruments were designated as fair value hedges of the debt obligation. In April 2013, the Company terminated all of the interest rate swaps, and the resulting unamortized gain of $8 million at December 28, 2013 will be amortized to interest expense over the remaining term of the Notes. In May 2013, the Company entered into interest rate swaps with notional amounts totaling $500 million, which effectively converted this debt from a fixed rate to a floating rate obligation for the remainder of the five-year term. These derivative instruments were designated as fair value hedges of the debt obligation. The fair value adjustment for the interest rate swaps was $3 million, and was recorded as a decrease in the hedged debt balance at December 28, 2013. | ||||||||||||||
In November 2009, the Company issued $500 million of ten-year 4.15% fixed rate U.S. Dollar Notes, using net proceeds from these Notes to retire a portion of its 6.6% U.S. Dollar Notes due 2011. The effective interest rate on these Notes, reflecting issuance discount, hedge settlement and interest rate swaps was 2.72% at December 28, 2013. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. In March 2012, the Company entered into interest rate swaps which effectively converted these Notes from a fixed rate to a floating rate obligation for the remainder of the ten-year term. These derivative instruments were designated as fair value hedges of the debt obligation. The fair value adjustment for the interest rate swaps was $11 million, and was recorded as a decrease in the hedged debt balance at December 28, 2013. | ||||||||||||||
In May 2011, the Company issued $400 million of seven-year 3.25% fixed rate U.S. Dollar Notes, using net proceeds from these Notes for general corporate purposes including repayment of a portion of its commercial paper. The effective interest rate on these Notes, reflecting issuance discount, hedge settlement and interest rate swaps, was 1.86% at December 28, 2013. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. In October 2011, the Company entered into interest rate swaps with notional amounts totaling $400 million, which effectively converted these Notes from a fixed rate to a floating rate obligation. These derivative instruments were designated as fair value hedges of the debt obligation. During February and April 2013, the Company terminated all of the interest rate swaps, and the resulting unamortized gain of $17 million at December 28, 2013 will be amortized to interest expense over the remaining term of the Notes. In May 2013, the Company entered into interest rate swaps with notional amounts totaling $400 million, which effectively converted these Notes from a fixed rate to a floating rate obligation for the remainder of the seven-year term. These derivative instruments were designated as fair value hedges of the debt obligation. The fair value adjustment for the interest rate swaps was $6 million, and was recorded as a decrease in the hedged debt balance at December 28, 2013 and December 29, 2012, respectively. | ||||||||||||||
In February 2013, the Company issued $400 million of ten-year 2.75% U.S. Dollar Notes, using net proceeds from these Notes for general corporate purposes, including, together with cash on hand, a portion of the repayment of $750 million aggregate principal amount of the Company's 4.25% U.S. Dollar Notes that matured in March 2013. The effective interest rate on these Notes, reflecting issuance discount and hedge settlement, was 2.74%. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. | ||||||||||||||
In May 2012, the Company issued $400 million of five-year 1.75% U.S. Dollar Notes, using net proceeds from these Notes for general corporate purposes, including financing a portion of the acquisition of Pringles. The effective interest rate on these Notes, reflecting issuance discount and interest rate swaps, was 1.32%. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. In March and May 2013, the Company entered into interest rate swaps with notional amounts totaling $400 million, which effectively converted the Notes from a fixed rate to a floating rate obligation for the remainder of the ten-year term. These derivative instruments were designated as fair value hedges of the debt obligation. The fair value adjustment for the interest rate swaps was $4 million, and was recorded as a decrease in the hedged debt balance at December 28, 2013. | ||||||||||||||
In May 2012, the Company issued $350 million of three-year 1.125% U.S. Dollar Notes, using net proceeds from these Notes for general corporate purposes, including financing a portion of the acquisition of Pringles. The effective interest rate on these Notes, reflecting issuance discount, was 1.16%. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. | ||||||||||||||
In May 2012, the Company issued Cdn.$300 million of two-year 2.10% fixed rate Canadian Dollar Notes, using net proceeds from these Notes for general corporate purposes, which included repayment of intercompany debt. This repayment resulted in cash available to be used for a portion of the acquisition of Pringles. The effective interest rate on these Notes, reflecting issuance discount, was 2.11%. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. | ||||||||||||||
In February 2013, the Company issued $250 million of floating-rate U.S. Dollar Notes bearing interest at LIBOR plus 0.23% due February 2015. The proceeds from these Notes were used for general corporate purposes, including, together with cash on hand, a portion of the repayment of $750 million aggregate principal amount of the Company's 4.25% U.S. Dollar Notes that matured in March 2013. The effective interest rate on these Notes was 0.47% at December 28, 2013. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. | ||||||||||||||
In March 2008, the Company issued $750 million of five-year 4.25% fixed rate U.S. Dollar Notes, using net proceeds from these Notes to retire a portion of its U.S. commercial paper. The Notes contained customary covenants that limited the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contained a change of control provision. In conjunction with this debt issuance, the Company entered into interest rate swaps with notional amounts totaling $750 million, which effectively converted this debt from a fixed rate to a floating rate obligation. These derivative instruments were designated as fair value hedges of the debt obligation. During 2011, the Company transferred a portion of the interest rate swaps to another counterparty and subsequently terminated all the interest rate swaps. The Company redeemed the Notes in March 2013. | ||||||||||||||
In March 2012, the Company entered into an unsecured 364-Day Term Loan Agreement (the “New Credit Agreement”) to fund, in part, the acquisition of Pringles from P&G. The New Credit Agreement allowed the Company to borrow up to $1 billion to fund, in part, the acquisition and pay related fees and expenses. The loans under the New Credit Agreement were to mature and be payable in full 364 days after the date on which the loans were made. The New Credit Agreement contained customary representations, warranties and covenants, including restrictions on indebtedness, liens, sale and leaseback transactions, and a specified interest expense coverage ratio. If an event of default occurred, then, to the extent permitted under the New Credit Agreement, the administrative agent could (i) not earlier than the date on which the acquisition is or is to be consummated, terminate the commitments under the New Credit Agreement and (ii) accelerate any outstanding loans under the New Credit Agreement. The Company had no borrowings against the New Credit Agreement and, in May 2012, upon issuance of the U.S. Dollar Notes described above, the available commitments under the New Credit Agreement were automatically and permanently reduced to $0. | ||||||||||||||
The Company and two of its subsidiaries (the Issuers) maintain a program under which the Issuers may issue euro-commercial paper notes up to a maximum aggregate amount outstanding at any time of $750 million or its equivalent in alternative currencies. The notes may have maturities ranging up to 364 days and will be senior unsecured obligations of the applicable Issuer. Notes issued by subsidiary Issuers will be guaranteed by the Company. The notes may be issued at a discount or may bear fixed or floating rate interest or a coupon calculated by reference to an index or formula. There was $437 million and $159 million outstanding under this program as of December 28, 2013 and December 29, 2012, respectively. | ||||||||||||||
At December 28, 2013, the Company had $2.2 billion of short-term lines of credit, virtually all of which were unused and available for borrowing on an unsecured basis. These lines were comprised principally of an unsecured Four-Year Credit Agreement, which the Company entered into in March 2011 and expires in 2015. The Four-Year Credit Agreement allows the Company to borrow, on a revolving credit basis, up to $2.0 billion, to obtain letters of credit in an aggregate amount up to $75 million, U.S. swingline loans in an aggregate amount up to $200 million and European swingline loans in an aggregate amount up to $400 million and to provide a procedure for lenders to bid on short-term debt of the Company. The agreement contains customary covenants and warranties, including specified restrictions on indebtedness, liens, sale and leaseback transactions, and a specified interest coverage ratio. If an event of default occurs, then, to the extent permitted, the administrative agent may terminate the commitments under the credit facility, accelerate any outstanding loans under the agreement, and demand the deposit of cash collateral equal to the lender's letter of credit exposure plus interest. | ||||||||||||||
The Company was in compliance with all covenants as of December 28, 2013. | ||||||||||||||
Scheduled principal repayments on long-term debt are (in millions): 2014–$289; 2015–$610; 2016–$1,253; 2017–$403; 2018–$403; 2019 and beyond–$3,702. | ||||||||||||||
Interest paid was (in millions): 2013–$234; 2012–$254; 2011–$249. Interest expense capitalized as part of the construction cost of fixed assets was (in millions): 2013–$2; 2012–$2; 2011–$5. |
Stock_Compensation
Stock Compensation | 12 Months Ended | ||||||||||
Dec. 28, 2013 | |||||||||||
Stock Compensation [Abstract] | ' | ||||||||||
Stock Compensation [Text Block] | ' | ||||||||||
NOTE 7 | |||||||||||
STOCK COMPENSATION | |||||||||||
The Company uses various equity-based compensation programs to provide long-term performance incentives for its global workforce. Currently, these incentives consist principally of stock options, and to a lesser extent, executive performance shares, restricted stock units and restricted stock grants. The Company also sponsors a discounted stock purchase plan in the United States and matching-grant programs in several international locations. Additionally, the Company awards restricted stock to its outside directors. These awards are administered through several plans, as described within this Note. | |||||||||||
The 2013 Long-Term Incentive Plan (2013 Plan), approved by shareholders in 2013, permits awards to employees and officers in the form of incentive and non-qualified stock options, performance units, restricted stock or restricted stock units, and stock appreciation rights. The 2013 Plan, which replaced the 2009 Long-Term Incentive Plan (2009 Plan), authorizes the issuance of a total of (a) 22 million shares; plus (b) the total number of shares remaining available for future grants under the 2009 Plan. The total number of shares remaining available for issuance under the 2013 Plan will be reduced by two shares for each share issued pursuant to an award under the 2013 Plan other than a stock option or stock appreciation right, or potentially issuable pursuant to an outstanding award other than a stock option or stock appreciation right, which will in each case reduce the total number of shares remaining by one share for each share issued. The 2013 Plan includes several limitations on awards or payments to individual participants. Options granted under the 2013 and 2009 Plans generally vest over three years. At December 28, 2013, there were 27 million remaining authorized, but unissued, shares under the 2013 Plan. This amount includes 5 million shares remaining available under the 2009 Plan. | |||||||||||
The Non-Employee Director Stock Plan (2009 Director Plan) was approved by shareholders in 2009 and allows each eligible non-employee director to receive shares of the Company's common stock annually. The number of shares granted pursuant to each annual award will be determined by the Nominating and Governance Committee of the Board of Directors. The 2009 Director Plan, which replaced the 2000 Non-Employee Director Stock Plan (2000 Director Plan), reserves 500,000 shares for issuance, plus the total number of shares as to which awards granted under the 2009 Director Plan or the 2000 Director Plans expire or are forfeited, terminated or settled in cash. Under both the 2009 and 2000 Director Plans, shares (other than stock options) are placed in the Kellogg Company Grantor Trust for Non-Employee Directors (the Grantor Trust). Under the terms of the Grantor Trust, shares are available to a director only upon termination of service on the Board. Under the 2009 Director Plan, awards were as follows (number of shares): 2013-26,504; 2012-26,940; 2011-24,850. | |||||||||||
The 2002 Employee Stock Purchase Plan was approved by shareholders in 2002 and permits eligible employees to purchase Company stock at a discounted price. This plan allows for a maximum of 2.5 million shares of Company stock to be issued at a purchase price equal to 95% of the fair market value of the stock on the last day of the quarterly purchase period. Total purchases through this plan for any employee are limited to a fair market value of $25,000 during any calendar year. At December 28, 2013, there were approximately 0.5 million remaining authorized, but unissued, shares under this plan. Shares were purchased by employees under this plan as follows (approximate number of shares): 2013–85,000; 2012–107,000; 2011–110,000. Options granted to employees to purchase discounted stock under this plan are included in the option activity tables within this note. | |||||||||||
Additionally, an international subsidiary of the Company maintains a stock purchase plan for its employees. Subject to limitations, employee contributions to this plan are matched 1:1 by the Company. Under this plan, shares were granted by the Company to match an equal number of shares purchased by employees as follows (approximate number of shares): 2013–58,000; 2012–71,000; 2011–68,000. | |||||||||||
Compensation expense for all types of equity-based programs and the related income tax benefit recognized were as follows: | |||||||||||
(millions) | 2013 | 2012 | 2011 | ||||||||
Pre-tax compensation expense | $ | 38 | $ | 46 | $ | 37 | |||||
Related income tax benefit | $ | 14 | $ | 17 | $ | 13 | |||||
As of December 28, 2013, total stock-based compensation cost related to non-vested awards not yet recognized was $43 million and the weighted-average period over which this amount is expected to be recognized was 2 years. | |||||||||||
Cash flows realized upon exercise or vesting of stock-based awards in the periods presented are included in the following table. Tax benefits realized upon exercise or vesting of stock-based awards generally represent the tax benefit of the difference between the exercise price and the strike price of the option. | |||||||||||
Cash used by the Company to settle equity instruments granted under stock-based awards was insignificant. | |||||||||||
(millions) | 2013 | 2012 | 2011 | ||||||||
Total cash received from option exercises and similar instruments | $ | 475 | $ | 229 | $ | 291 | |||||
Tax benefits realized upon exercise or vesting of stock-based awards: | |||||||||||
Windfall benefits classified as financing cash flow | $ | 24 | $ | 6 | $ | 11 | |||||
Shares used to satisfy stock-based awards are normally issued out of treasury stock, although management is authorized to issue new shares to the extent permitted by respective plan provisions. Refer to Note 4 for information on shares issued during the periods presented to employees and directors under various long-term incentive plans and share repurchases under the Company's stock repurchase authorizations. The Company does not currently have a policy of repurchasing a specified number of shares issued under employee benefit programs during any particular time period. | |||||||||||
Stock options | |||||||||||
During the periods presented, non-qualified stock options were granted to eligible employees under the 2013 and 2009 Plans with exercise prices equal to the fair market value of the Company's stock on the grant date, a contractual term of ten years, and a three-year graded vesting period. | |||||||||||
Management estimates the fair value of each annual stock option award on the date of grant using a lattice-based option valuation model. Composite assumptions are presented in the following table. Weighted-average values are disclosed for certain inputs which incorporate a range of assumptions. Expected volatilities are based principally on historical volatility of the Company's stock, and to a lesser extent, on implied volatilities from traded options on the Company's stock. Historical volatility corresponds to the contractual term of the options granted. The Company uses historical data to estimate option exercise and employee termination within the valuation models; separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. The expected term of options granted represents the period of time that options granted are expected to be outstanding; the weighted-average expected term for all employee groups is presented in the following table. The risk-free rate for periods within the contractual life of the options is based on the U.S. Treasury yield curve in effect at the time of grant. | |||||||||||
Stock option valuation model assumptions | 2013 | 2012 | 2011 | ||||||||
for grants within the year ended: | |||||||||||
Weighted-average expected volatility | 15 | % | 16 | % | 17 | % | |||||
Weighted-average expected term (years) | 7.44 | 7.53 | 6.99 | ||||||||
Weighted-average risk-free interest rate | 1.49 | % | 1.6 | % | 3.06 | % | |||||
Dividend yield | 2.9 | % | 3.3 | % | 3.1 | % | |||||
Weighted-average fair value of options granted | $ | 5.92 | $ | 5.23 | $ | 7.59 | |||||
A summary of option activity for the year ended December 28, 2013 is presented in the following table: | |||||||||||
Weighted- | |||||||||||
Weighted- | average | Aggregate | |||||||||
average | remaining | intrinsic | |||||||||
Shares | exercise | contractual | value | ||||||||
Employee and director stock options | (millions) | price | term (yrs.) | (millions) | |||||||
Outstanding, beginning of period | 25 | $ | 50 | ||||||||
Granted | 6 | 60 | |||||||||
Exercised | -10 | 48 | |||||||||
Forfeitures and expirations | -1 | 55 | |||||||||
Outstanding, end of period | 20 | $ | 54 | 7 | $ | 143 | |||||
Exercisable, end of period | 9 | $ | 50 | 5.4 | $ | 101 | |||||
Additionally, option activity for the comparable prior year periods is presented in the following table: | |||||||||||
(millions, except per share data) | 2012 | 2011 | |||||||||
Outstanding, beginning of year | 24 | 26 | |||||||||
Granted | 6 | 5 | |||||||||
Exercised | -4 | -6 | |||||||||
Forfeitures and expirations | -1 | -1 | |||||||||
Outstanding, end of year | 25 | 24 | |||||||||
Exercisable, end of year | 14 | 16 | |||||||||
Weighted-average exercise price: | |||||||||||
Outstanding, beginning of year | $ | 48 | $ | 47 | |||||||
Granted | 52 | 53 | |||||||||
Exercised | 44 | 45 | |||||||||
Forfeitures and expirations | 53 | 52 | |||||||||
Outstanding, end of year | $ | 50 | $ | 48 | |||||||
Exercisable, end of year | $ | 48 | $ | 47 | |||||||
The total intrinsic value of options exercised during the periods presented was (in millions): 2013–$139; 2012–$34; 2011–$63. | |||||||||||
Other stock-based awards | |||||||||||
During the periods presented, other stock-based awards consisted principally of executive performance shares and restricted stock granted under the 2013 and 2009 Plans. | |||||||||||
In 2013, 2012 and 2011, the Company made performance share awards to a limited number of senior executive-level employees, which entitles these employees to receive a specified number of shares of the Company's common stock on the vesting date, provided cumulative three-year targets are achieved. The cumulative three-year targets involved operating profit and internal net sales growth. Management estimates the fair value of performance share awards based on the market price of the underlying stock on the date of grant, reduced by the present value of estimated dividends foregone during the performance period. The 2013, 2012 and 2011 target grants (as revised for non-vested forfeitures and other adjustments) currently correspond to approximately 208,000, 183,000 and 117,000 shares, respectively, with a grant-date fair value of $54, $47, and $48 per share. The actual number of shares issued on the vesting date could range from zero to 200% of target, depending on actual performance achieved. Based on the market price of the Company's common stock at year-end 2013, the maximum future value that could be awarded on the vesting date was (in millions): 2013 award–$23; 2012 award–$17; and 2011 award–$11. The 2010 performance share award, payable in stock, was settled at 40% of target in February 2013 for a total dollar equivalent of $4 million. | |||||||||||
The Company also periodically grants restricted stock and restricted stock units to eligible employees under the 2013 Plan. Restrictions with respect to sale or transferability generally lapse after three years and, in the case of restricted stock, the grantee is normally entitled to receive shareholder dividends during the vesting period. Management estimates the fair value of restricted stock grants based on the market price of the underlying stock on the date of grant. A summary of restricted stock activity for the year ended December 28, 2013, is presented in the following table: | |||||||||||
Weighted- average | |||||||||||
Employee restricted stock | Shares | grant-date | |||||||||
and restricted stock units | (thousands) | fair value | |||||||||
Non-vested, beginning of year | 316 | $ | 50 | ||||||||
Granted | 139 | 52 | |||||||||
Vested | -117 | 51 | |||||||||
Forfeited | -20 | 47 | |||||||||
Non-vested, end of year | 318 | $ | 52 | ||||||||
Grants of restricted stock and restricted stock units for comparable prior-year periods were: 2012 – 160,000, 2011–102,000. | |||||||||||
The total fair value of restricted stock and restricted stock units vesting in the periods presented was (in millions): 2013–$6; 2012–$4; 2011–$7 |
Pension_Benefits
Pension Benefits | 12 Months Ended | ||||||||||||
Dec. 28, 2013 | |||||||||||||
Pension Benefits [Abstract] | ' | ||||||||||||
Pension Benefits [Text Block] | ' | ||||||||||||
NOTE 8 | |||||||||||||
PENSION BENEFITS | |||||||||||||
The Company sponsors a number of U.S. and foreign pension plans to provide retirement benefits for its employees. The majority of these plans are funded or unfunded defined benefit plans, although the Company does participate in a limited number of multiemployer or other defined contribution plans for certain employee groups. See Note 10 for more information regarding the Company's participation in multiemployer plans. Defined benefits for salaried employees are generally based on salary and years of service, while union employee benefits are generally a negotiated amount for each year of service. | |||||||||||||
Obligations and funded status | |||||||||||||
The aggregate change in projected benefit obligation, plan assets, and funded status is presented in the following tables. | |||||||||||||
(millions) | 2013 | 2012 | |||||||||||
Change in projected benefit obligation | |||||||||||||
Beginning of year | $ | 5,135 | $ | 4,367 | |||||||||
Service cost | 133 | 110 | |||||||||||
Interest cost | 203 | 207 | |||||||||||
Plan participants' contributions | 2 | 2 | |||||||||||
Amendments | 4 | 23 | |||||||||||
Actuarial (gain)loss | -407 | 535 | |||||||||||
Benefits paid | -218 | -213 | |||||||||||
Acquisitions | 17 | 47 | |||||||||||
Curtailment and special termination benefits | 26 | - | |||||||||||
Foreign currency adjustments | -7 | 57 | |||||||||||
End of year | $ | 4,888 | $ | 5,135 | |||||||||
Change in plan assets | |||||||||||||
Fair value beginning of year | $ | 4,374 | $ | 3,931 | |||||||||
Actual return on plan assets | 802 | 508 | |||||||||||
Employer contributions | 34 | 38 | |||||||||||
Plan participants' contributions | 2 | 2 | |||||||||||
Benefits paid | -200 | -187 | |||||||||||
Acquisitions | - | 23 | |||||||||||
Foreign currency adjustments | 2 | 59 | |||||||||||
Fair value end of year | $ | 5,014 | $ | 4,374 | |||||||||
Funded status | $ | 126 | $ | -761 | |||||||||
Amounts recognized in the Consolidated | |||||||||||||
Balance Sheet consist of | |||||||||||||
Other assets | $ | 419 | $ | 145 | |||||||||
Other current liabilities | -16 | -20 | |||||||||||
Other liabilities | -277 | -886 | |||||||||||
Net amount recognized | $ | 126 | $ | -761 | |||||||||
Amounts recognized in accumulated other | |||||||||||||
comprehensive income consist of | |||||||||||||
Prior service cost | $ | 73 | $ | 94 | |||||||||
Net amount recognized | $ | 73 | $ | 94 | |||||||||
The accumulated benefit obligation for all defined benefit pension plans was $4.5 billion and $4.7 billion at December 28, 2013 and December 29, 2012, respectively. Information for pension plans with accumulated benefit obligations in excess of plan assets were: | |||||||||||||
(millions) | 2013 | 2012 | |||||||||||
Projected benefit obligation | $ | 327 | $ | 3,707 | |||||||||
Accumulated benefit obligation | $ | 251 | $ | 3,442 | |||||||||
Fair value of plan assets | $ | 58 | $ | 2,823 | |||||||||
Expense | |||||||||||||
The components of pension expense are presented in the following table. Pension expense for defined contribution plans relates to certain foreign-based defined contribution plans and multiemployer plans in the United States in which the Company participates on behalf of certain unionized workforces. | |||||||||||||
(millions) | 2013 | 2012 | 2011 | ||||||||||
Service cost | $ | 133 | $ | 110 | $ | 96 | |||||||
Interest cost | 203 | 207 | 209 | ||||||||||
Expected return on plan assets | -359 | -344 | -361 | ||||||||||
Amortization of unrecognized | |||||||||||||
prior service cost | 16 | 14 | 14 | ||||||||||
Recognized net (gain)loss | -854 | 372 | 747 | ||||||||||
Curtailment and special termination benefits | 34 | - | - | ||||||||||
Pension (income)expense: | |||||||||||||
Defined benefit plans | -827 | 359 | 705 | ||||||||||
Defined contribution plans | 35 | 29 | 35 | ||||||||||
Total | $ | -792 | $ | 388 | $ | 740 | |||||||
The estimated prior service cost for defined benefit pension plans that will be amortized from accumulated other comprehensive income into pension expense over the next fiscal year is approximately $14 million. | |||||||||||||
The Company and certain of its subsidiaries sponsor 401(k) or similar savings plans for active employees. Expense related to these plans was (in millions): 2013 - $41; 2012 - $39; 2011- $36. These amounts are not included in the preceding expense table. Company contributions to these savings plans approximate annual expense. Company contributions to multiemployer and other defined contribution pension plans approximate the amount of annual expense presented in the preceding table. | |||||||||||||
See discussion in Note 3 related to curtailment and special termination benefit costs recognized in 2013. | |||||||||||||
Assumptions | |||||||||||||
The worldwide weighted-average actuarial assumptions used to determine benefit obligations were: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Discount rate | 4.70% | 4.00% | 4.80% | ||||||||||
Long-term rate of compensation increase | 4.10% | 4.10% | 4.20% | ||||||||||
The worldwide weighted-average actuarial assumptions used to determine annual net periodic benefit cost were: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Discount rate | 4.10% | 4.80% | 5.40% | ||||||||||
Long-term rate of compensation increase | 4.10% | 4.20% | 4.20% | ||||||||||
Long-term rate of return on plan assets | 8.50% | 8.90% | 8.90% | ||||||||||
To determine the overall expected long-term rate of return on plan assets, the Company models expected returns over a 20-year investment horizon with respect to the specific investment mix of its major plans. The return assumptions used reflect a combination of rigorous historical performance analysis and forward-looking views of the financial markets including consideration of current yields on long-term bonds, price-earnings ratios of the major stock market indices, and long-term inflation. The U.S. model, which corresponds to approximately 68% of consolidated pension and other postretirement benefit plan assets, incorporates a long-term inflation assumption of 2.5% and an active management premium of 1% (net of fees) validated by historical analysis. Similar methods are used for various foreign plans with invested assets, reflecting local economic conditions. The expected rate of return for 2013 of 8.5% equated to approximately the 60th percentile expectation. Refer to Note 1. | |||||||||||||
To conduct the annual review of discount rates, the Company selected the discount rate based on a cash-flow matching analysis using Towers Watson's proprietary RATE:Link tool and projections of the future benefit payments that constitute the projected benefit obligation for the plans. RATE:Link establishes the uniform discount rate that produces the same present value of the estimated future benefit payments, as is generated by discounting each year's benefit payments by a spot rate applicable to that year. The spot rates used in this process are derived from a yield curve created from yields on the 40th to 90th percentile of U.S. high quality bonds. A similar methodology is applied in Canada and Europe, except the smaller bond markets imply that yields between the 10th and 90th percentiles are preferable. The measurement dates for the defined benefit plans are consistent with the Company's fiscal year end. Accordingly, the Company selected discount rates to measure the benefit obligations consistent with market indices during December of each year. | |||||||||||||
Plan assets | |||||||||||||
The Company categorized Plan assets within a three level fair value hierarchy described as follows: | |||||||||||||
Investments stated at fair value as determined by quoted market prices (Level 1) include: | |||||||||||||
Cash and cash equivalents: Value based on cost, which approximates fair value. | |||||||||||||
Corporate stock, common: Value based on the last sales price on the primary exchange. | |||||||||||||
Investments stated at estimated fair value using significant observable inputs (Level 2) include: | |||||||||||||
Cash and cash equivalents: Institutional short-term investment vehicles valued daily. | |||||||||||||
Mutual funds: Valued at the net asset value of shares held by the Plan at year end. | |||||||||||||
Collective trusts: Value based on the net asset value of units held at year end. | |||||||||||||
Bonds: Value based on matrices or models from pricing vendors. | |||||||||||||
Limited partnerships: Value based on the ending net capital account balance at year end. | |||||||||||||
Investments stated at estimated fair value using significant unobservable inputs (Level 3) include: | |||||||||||||
Real Estate: Value based on the net asset value of units held at year end. The fair value of real estate holdings is based on market data including earnings capitalization, discounted cash flow analysis, comparable sales transactions or a combination of these methods. | |||||||||||||
Bonds: Value based on matrices or models from brokerage firms. A limited number of the investments are in default. | |||||||||||||
The preceding methods described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. | |||||||||||||
The Company's practice regarding the timing of transfers between levels is to measure transfers in at the beginning of the month and transfers out at the end of the month. For the year ended December 28, 2013, the Company had no transfers between Levels 1 and 2. | |||||||||||||
The fair value of Plan assets as of December 28, 2013 summarized by level within the fair value hierarchy are as follows: | |||||||||||||
Total | Total | Total | |||||||||||
(millions) | Level 1 | Level 2 | Level 3 | Total | |||||||||
Cash and cash equivalents | $ | 28 | $ | 83 | $ | - | $ | 111 | |||||
Corporate stock, common: | |||||||||||||
Domestic | 576 | - | - | 576 | |||||||||
International | 297 | - | - | 297 | |||||||||
Mutual funds: | |||||||||||||
International equity | - | 726 | - | 726 | |||||||||
International debt | - | 54 | - | 54 | |||||||||
Collective trusts: | |||||||||||||
Domestic equity | - | 737 | - | 737 | |||||||||
International equity | - | 982 | - | 982 | |||||||||
Eurozone sovereign debt | - | 14 | - | 14 | |||||||||
Other international debt | - | 288 | - | 288 | |||||||||
Limited partnerships | - | 468 | - | 468 | |||||||||
Bonds, corporate | - | 370 | 1 | 371 | |||||||||
Bonds, government | - | 123 | - | 123 | |||||||||
Bonds, other | - | 52 | - | 52 | |||||||||
Real estate | - | - | 125 | 125 | |||||||||
Other | - | 82 | 8 | 90 | |||||||||
Total | $ | 901 | $ | 3,979 | $ | 134 | $ | 5,014 | |||||
The fair value of Plan assets at December 29, 2012 are summarized as follows: | |||||||||||||
Total | Total | Total | |||||||||||
(millions) | Level 1 | Level 2 | Level 3 | Total | |||||||||
Cash and cash equivalents | $ | 29 | $ | 32 | $ | - | $ | 61 | |||||
Corporate stock, common: | |||||||||||||
Domestic | 466 | - | - | 466 | |||||||||
International | 259 | - | - | 259 | |||||||||
Mutual funds: | |||||||||||||
International equity | - | 717 | - | 717 | |||||||||
International debt | - | 58 | - | 58 | |||||||||
Collective trusts: | |||||||||||||
Domestic equity | - | 535 | - | 535 | |||||||||
International equity | - | 920 | - | 920 | |||||||||
Eurozone sovereign debt | - | 17 | - | 17 | |||||||||
Other international debt | - | 274 | - | 274 | |||||||||
Limited partnerships | - | 275 | - | 275 | |||||||||
Bonds, corporate | - | 441 | - | 441 | |||||||||
Bonds, government | - | 150 | - | 150 | |||||||||
Bonds, other | - | 66 | - | 66 | |||||||||
Real estate | - | - | 115 | 115 | |||||||||
Other | 4 | 7 | 9 | 20 | |||||||||
Total | $ | 758 | $ | 3,492 | $ | 124 | $ | 4,374 | |||||
There were no unfunded commitments to purchase investments at December 28, 2013 or December 29, 2012. | |||||||||||||
The Company's investment strategy for its major defined benefit plans is to maintain a diversified portfolio of asset classes with the primary goal of meeting long-term cash requirements as they become due. Assets are invested in a prudent manner to maintain the security of funds while maximizing returns within the Plan's investment policy. The investment policy specifies the type of investment vehicles appropriate for the Plan, asset allocation guidelines, criteria for the selection of investment managers, procedures to monitor overall investment performance as well as investment manager performance. It also provides guidelines enabling Plan fiduciaries to fulfill their responsibilities. | |||||||||||||
The current weighted-average target asset allocation reflected by this strategy is: equity securities–72%; debt securities–22%; other–6%. Investment in Company common stock represented 1.2% and 1.3% of consolidated plan assets at December 28, 2013 and December 29, 2012, respectively. Plan funding strategies are influenced by tax regulations and funding requirements. The Company currently expects to contribute approximately $43 million to its defined benefit pension plans during 2014. | |||||||||||||
Level 3 gains and losses | |||||||||||||
Changes in the fair value of the Plan's Level 3 assets are summarized as follows: | |||||||||||||
(millions) | Bonds, corporate | Real estate | Other | Total | |||||||||
31-Dec-11 | $ | 1 | $ | 105 | $ | 6 | $ | 112 | |||||
Purchases | - | - | 1 | 1 | |||||||||
Sales | -1 | - | - | -1 | |||||||||
Realized and unrealized gain | - | 6 | 2 | 8 | |||||||||
Transfer out | - | 4 | - | 4 | |||||||||
29-Dec-12 | $ | - | $ | 115 | $ | 9 | $ | 124 | |||||
Purchases | 1 | 1 | 1 | 3 | |||||||||
Sales | - | - | -1 | -1 | |||||||||
Realized and unrealized gain | - | 8 | - | 8 | |||||||||
Currency translation | - | 1 | -1 | - | |||||||||
28-Dec-13 | $ | 1 | $ | 125 | $ | 8 | $ | 134 | |||||
The net change in Level 3 assets includes a gain attributable to the change in unrealized holding gains or losses related to Level 3 assets held at December 28, 2013 and December 29, 2012 totaling $8 million for both years. | |||||||||||||
Benefit payments | |||||||||||||
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in millions): 2014–$252; 2015–$418; 2016–$263; 2017–$254; 2018–$263; 2019 to 2023–$1,498. |
Nonpension_Postretirement_and_
Nonpension Postretirement and Postemployment Benefits | 12 Months Ended | ||||||||||||
Dec. 28, 2013 | |||||||||||||
Nonpension Postretirement and Postemployment Benefits [Abstract] | ' | ||||||||||||
Nonpension Postretirement and Postemployment Benefits [Text Block] | ' | ||||||||||||
NOTE 9 | |||||||||||||
NONPENSION POSTRETIREMENT AND POSTEMPLOYMENT BENEFITS | |||||||||||||
Postretirement | |||||||||||||
The Company sponsors a number of plans to provide health care and other welfare benefits to retired employees in the United States and Canada, who have met certain age and service requirements. The majority of these plans are funded or unfunded defined benefit plans, although the Company does participate in a limited number of multiemployer or other defined contribution plans for certain employee groups. The Company contributes to voluntary employee benefit association (VEBA) trusts to fund certain U.S. retiree health and welfare benefit obligations. | |||||||||||||
Obligations and funded status | |||||||||||||
The aggregate change in accumulated postretirement benefit obligation, plan assets, and funded status is presented in the following tables. | |||||||||||||
(millions) | 2013 | 2012 | |||||||||||
Change in accumulated benefit obligation | |||||||||||||
Beginning of year | $ | 1,323 | $ | 1,155 | |||||||||
Service cost | 34 | 27 | |||||||||||
Interest cost | 50 | 53 | |||||||||||
Actuarial (gain) loss | -145 | 115 | |||||||||||
Benefits paid | -56 | -62 | |||||||||||
Curtailments | 1 | - | |||||||||||
Acquisitions | - | 34 | |||||||||||
Foreign currency adjustments | -5 | 1 | |||||||||||
End of year | $ | 1,202 | $ | 1,323 | |||||||||
Change in plan assets | |||||||||||||
Fair value beginning of year | $ | 1,040 | $ | 965 | |||||||||
Actual return on plan assets | 188 | 132 | |||||||||||
Employer contributions | 14 | 13 | |||||||||||
Benefits paid | -64 | -70 | |||||||||||
Fair value end of year | $ | 1,178 | $ | 1,040 | |||||||||
Funded status | $ | -24 | $ | -283 | |||||||||
Amounts recognized in the Consolidated | |||||||||||||
Balance Sheet consist of | |||||||||||||
Other non-current assets | $ | 47 | $ | - | |||||||||
Other current liabilities | -3 | -2 | |||||||||||
Other liabilities | -68 | -281 | |||||||||||
Net amount recognized | $ | -24 | $ | -283 | |||||||||
Amounts recognized in accumulated other | |||||||||||||
comprehensive income consist of | |||||||||||||
Prior service credit | -1 | -3 | |||||||||||
Net amount recognized | $ | -1 | $ | -3 | |||||||||
Expense | |||||||||||||
Components of postretirement benefit expense (income) were: | |||||||||||||
(millions) | 2013 | 2012 | 2011 | ||||||||||
Service cost | $ | 34 | $ | 27 | $ | 23 | |||||||
Interest cost | 50 | 53 | 62 | ||||||||||
Expected return on plan assets | -86 | -84 | -87 | ||||||||||
Amortization of unrecognized prior service credit | -3 | -2 | -3 | ||||||||||
Recognized net (gain) loss | -247 | 66 | -16 | ||||||||||
Curtailment | 1 | - | - | ||||||||||
Postretirement benefit expense: | |||||||||||||
Defined benefit plans | -251 | 60 | -21 | ||||||||||
Defined contribution plans | 13 | 13 | 14 | ||||||||||
Total | $ | -238 | $ | 73 | $ | -7 | |||||||
The estimated prior service cost credit that will be amortized from accumulated other comprehensive income into nonpension postretirement benefit expense over the next fiscal year is expected to be approximately $3 million. | |||||||||||||
See discussion in Note 3 regarding curtailment expense recognized in 2013. | |||||||||||||
Assumptions | |||||||||||||
The weighted-average actuarial assumptions used to determine benefit obligations were: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Discount rate | 4.8 | % | 3.9 | % | 4.6 | % | |||||||
The weighted-average actuarial assumptions used to determine annual net periodic benefit cost were: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Discount rate | 3.9 | % | 4.6 | % | 5.3 | % | |||||||
Long-term rate of return on plan assets | 8.5 | % | 8.9 | % | 8.9 | % | |||||||
The Company determines the overall discount rate and expected long-term rate of return on VEBA trust obligations and assets in the same manner as that described for pension trusts in Note 8. | |||||||||||||
The assumed health care cost trend rate is 5.3% for 2014, decreasing gradually to 4.5% by the year 2017 and remaining at that level thereafter. These trend rates reflect the Company's historical experience and management's expectations regarding future trends. A one percentage point change in assumed health care cost trend rates would have the following effects: | |||||||||||||
One percentage | One percentage | ||||||||||||
(millions) | point increase | point decrease | |||||||||||
Effect on total of service and interest cost components | $ | 11 | $ | -9 | |||||||||
Effect on postretirement benefit obligation | 132 | -110 | |||||||||||
Plan assets | |||||||||||||
The fair value of Plan assets as of December 28, 2013 summarized by level within fair value hierarchy described in Note 8, are as follows: | |||||||||||||
Total | Total | Total | |||||||||||
(millions) | Level 1 | Level 2 | Level 3 | Total | |||||||||
Cash and cash equivalents | $ | 7 | $ | 39 | $ | - | $ | 46 | |||||
Corporate stock, common: | |||||||||||||
Domestic | 231 | - | - | 231 | |||||||||
International | 15 | - | - | 15 | |||||||||
Mutual funds: | |||||||||||||
Domestic equity | - | 167 | - | 167 | |||||||||
International equity | - | 124 | - | 124 | |||||||||
Domestic debt | - | 57 | - | 57 | |||||||||
Collective trusts: | |||||||||||||
Domestic equity | - | 14 | - | 14 | |||||||||
International equity | - | 169 | - | 169 | |||||||||
Limited partnerships | - | 169 | - | 169 | |||||||||
Bonds, corporate | - | 130 | - | 130 | |||||||||
Bonds, government | - | 39 | - | 39 | |||||||||
Bonds, other | - | 16 | - | 16 | |||||||||
Other | - | 1 | - | 1 | |||||||||
Total | $ | 253 | $ | 925 | $ | - | $ | 1,178 | |||||
The fair value of Plan assets at December 29, 2012 are summarized as follows: | |||||||||||||
Total | Total | Total | |||||||||||
(millions) | Level 1 | Level 2 | Level 3 | Total | |||||||||
Cash and cash equivalents | $ | 5 | $ | 12 | $ | - | $ | 17 | |||||
Corporate stock, common: | |||||||||||||
Domestic | 174 | - | - | 174 | |||||||||
International | 18 | - | - | 18 | |||||||||
Mutual funds: | |||||||||||||
Domestic equity | - | 63 | - | 63 | |||||||||
International equity | - | 161 | - | 161 | |||||||||
Domestic debt | - | 60 | - | 60 | |||||||||
Collective trusts: | |||||||||||||
Domestic equity | - | 126 | - | 126 | |||||||||
International equity | - | 110 | - | 110 | |||||||||
Limited partnerships | - | 101 | - | 101 | |||||||||
Bonds, corporate | - | 142 | - | 142 | |||||||||
Bonds, government | - | 49 | - | 49 | |||||||||
Bonds, other | - | 17 | - | 17 | |||||||||
Other | 2 | - | - | 2 | |||||||||
Total | $ | 199 | $ | 841 | $ | - | $ | 1,040 | |||||
The Company's asset investment strategy for its VEBA trusts is consistent with that described for its pension trusts in Note 8. The current target asset allocation is 75% equity securities and 25% debt securities. The Company currently expects to contribute approximately $14 million to its VEBA trusts during 2014. | |||||||||||||
There were no Level 3 assets during 2013 and 2012. | |||||||||||||
Postemployment | |||||||||||||
Under certain conditions, the Company provides benefits to former or inactive employees, including salary continuance, severance, and long-term disability, in the United States and several foreign locations. The Company's postemployment benefit plans are unfunded. Actuarial assumptions used are generally consistent with those presented for pension benefits in Note 8. The aggregate change in accumulated postemployment benefit obligation and the net amount recognized were: | |||||||||||||
(millions) | 2013 | 2012 | |||||||||||
Change in accumulated benefit obligation | |||||||||||||
Beginning of year | $ | 103 | $ | 93 | |||||||||
Service cost | 7 | 7 | |||||||||||
Interest cost | 3 | 4 | |||||||||||
Actuarial (gain)loss | -17 | 7 | |||||||||||
Benefits paid | -9 | -8 | |||||||||||
End of year | $ | 87 | $ | 103 | |||||||||
Funded status | $ | -87 | $ | -103 | |||||||||
Amounts recognized in the Consolidated | |||||||||||||
Balance Sheet consist of | |||||||||||||
Other current liabilities | $ | -8 | $ | -10 | |||||||||
Other liabilities | -79 | -93 | |||||||||||
Net amount recognized | $ | -87 | $ | -103 | |||||||||
Amounts recognized in accumulated other | |||||||||||||
comprehensive income consist of | |||||||||||||
Net experience loss | $ | 25 | $ | 46 | |||||||||
Net amount recognized | $ | 25 | $ | 46 | |||||||||
Components of postemployment benefit expense were: | |||||||||||||
(millions) | 2013 | 2012 | 2011 | ||||||||||
Service cost | $ | 7 | $ | 7 | $ | 6 | |||||||
Interest cost | 3 | 4 | 4 | ||||||||||
Recognized net loss | 5 | 5 | 5 | ||||||||||
Postemployment benefit expense | $ | 15 | $ | 16 | $ | 15 | |||||||
The estimated net experience loss that will be amortized from accumulated other comprehensive income into postemployment benefit expense over the next fiscal year is approximately $3 million. | |||||||||||||
Benefit payments | |||||||||||||
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid: | |||||||||||||
(millions) | Postretirement | Postemployment | |||||||||||
2014 | $ | 68 | $ | 8 | |||||||||
2015 | 69 | 8 | |||||||||||
2016 | 70 | 7 | |||||||||||
2017 | 71 | 8 | |||||||||||
2018 | 72 | 8 | |||||||||||
2019-2023 | 385 | 41 |
Multiemployer_Pension_and_Post
Multiemployer Pension and Postretirement Plans | 12 Months Ended | ||||||||||||||||||
Dec. 28, 2013 | |||||||||||||||||||
Multiemployer Plans [Abstract] | ' | ||||||||||||||||||
Multiemployer Plans [Text Block] | ' | ||||||||||||||||||
NOTE 10 | |||||||||||||||||||
MULTIEMPLOYER PENSION AND POSTRETIREMENT PLANS | |||||||||||||||||||
The Company contributes to multiemployer defined contribution pension and postretirement benefit plans under the terms of collective-bargaining agreements that cover certain unionized employee groups in the United States. Contributions to these plans are included in total pension and postretirement benefit expense as reported in Notes 8 and 9, respectively. | |||||||||||||||||||
Pension benefits | |||||||||||||||||||
The risks of participating in multiemployer pension plans are different from single-employer plans. Assets contributed to a multiemployer plan by one employer may be used to provide benefits to employees of other participating employers. If a participating employer stops contributing to the plan, the unfunded obligations of the plan are borne by the remaining participating employers. | |||||||||||||||||||
The Company's participation in multiemployer pension plans for the year ended December 28, 2013, is outlined in the table below. The "EIN/PN" column provides the Employer Identification Number (EIN) and the three-digit plan number (PN). The most recent Pension Protection Act (PPA) zone status available for 2013 and 2012 is for the plan year-ends as indicated below. The zone status is based on information that the Company received from the plan and is certified by the plan's actuary. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the yellow zone are between 65 percent and 80 percent funded, and plans in the green zone are at least 80 percent funded. The "FIP/RP Status Pending/Implemented" column indicates plans for which a financial improvement plan (FIP) or a rehabilitation plan (RP) is either pending or has been implemented. In addition to regular plan contributions, the Company may be subject to a surcharge if the plan is in the red zone. The “Surcharge Imposed” column indicates whether a surcharge has been imposed on contributions to the plan. The last column lists the expiration date(s) of the collective-bargaining agreement(s) (CBA) to which the plans are subject. | |||||||||||||||||||
PPA Zone Status | FIP/RP Status | Contributions by the Company (millions) | |||||||||||||||||
Pension trust fund | EIN/PN | 2013 | 2012 | Pending/ Implemented | 2013 | 2012 | 2011 | Surcharge Imposed | Expiration Date of CBA | ||||||||||
Bakery and Confectionary Union and Industry International Pension Fund (a) | 52-6118572 / 001 | Red - 12/31/2013 | Red - 12/31/2012 | Implemented | $5.20 | $4.80 | $4.30 | Yes | 10/31/2015 to 4/30/2017 | ||||||||||
Central States, Southeast and Southwest Areas Pension Fund (b) | 36-6044243 / 001 | Red - 12/31/2013 | Red - 12/31/2012 | Implemented | 4.5 | 4.3 | 4.1 | Yes | 3/31/2014 to 12/31/2016 | ||||||||||
Western Conference of Teamsters Pension Trust ( c ) | 91-6145047 / 001 | Green - 12/31/2013 | Green - 12/31/2012 | N/A | 1.5 | 1.3 | 1.2 | No | 1/31/2015 to 3/29/2018 | ||||||||||
Hagerstown Motor Carriers and Teamsters Pension Fund | 52-6045424 / 001 | Red - 6/30/2014 | Red - 6/30/2013 | Implemented | 0.5 | 0.4 | 0.4 | No | 10/3/15 | ||||||||||
Local 734 Pension Plan | 51-6040136 / 001 | Red - 4/30/2014 | Red - 4/30/2013 | Implemented | 0.3 | 0.3 | 0.3 | Yes | 4/1/15 | ||||||||||
Twin Cities Bakery Drivers Pension Plan | 41-6172265 / 001 | Red - 12/31/2013 | Red - 12/31/2012 | Implemented | 0.2 | 0.2 | 0.2 | Yes | 5/31/15 | ||||||||||
Upstate New York Bakery Drivers and Industry Pension Fund | 15-0612437 / 001 | Green - 6/30/2013 | Green - 6/30/2012 | NA | 0.1 | 0.1 | 0.1 | No | 9/7/14 | ||||||||||
Other Plans | 2.2 | 2.1 | 2 | ||||||||||||||||
Total contributions: | $14.50 | $13.50 | $12.60 | ||||||||||||||||
(a) The Company is party to multiple CBAs requiring contributions to this fund, each with its own expiration date. Over 70 percent of the Company's participants in this fund are covered by a single CBA that expires on 4/30/2017. Another CBA, covering 15% of the Company's participants in this fund, expired in 2013 and is currently under negotiation. | |||||||||||||||||||
(b) The Company is party to multiple CBAs requiring contributions to this fund, each with its own expiration date. Over 40 percent of the Company's participants in this fund are covered by a single CBA that expires on 7/27/2014. | |||||||||||||||||||
(c) The Company is party to multiple CBAs requiring contributions to this fund, each with its own expiration date. Over 40 percent of the Company's participants in this fund are covered by a single CBA that expires on 3/24/2018. | |||||||||||||||||||
The Company was listed in the Forms 5500 of the following plans as of the following plan year ends as providing more than 5 percent of total contributions: | |||||||||||||||||||
Pension trust fund | Contributions to the plan exceeded more than 5% of total contributions (as of the Plan's year end) | ||||||||||||||||||
Hagerstown Motor Carriers and Teamsters Pension Fund | 6/30/2013, 6/30/2012 and 6/30/2011 | ||||||||||||||||||
Local 734 Pension Plan | 4/30/2013 and 4/30/2012 | ||||||||||||||||||
Twin Cities Bakery Drivers Pension Plan | 12/31/2012, 12/31/2011 and 12/31/2010 | ||||||||||||||||||
Upstate New York Bakery Drivers and Industry Pension Fund | 6/30/2013 and 6/30/2012 | ||||||||||||||||||
At the date the Company's financial statements were issued, Forms 5500 were not available for the plan years ending after June 30, 2013. | |||||||||||||||||||
In addition to regular contributions, the Company could be obligated to pay additional amounts, known as a withdrawal liability, if a multiemployer pension plan has unfunded vested benefits and the Company decreases or ceases participation in that plan. The Company has recognized net estimated withdrawal expense related to curtailment and special termination benefits associated with the Company's withdrawal from certain multiemployer plans aggregating (in millions): 2013 - $0; 2012 - $(5); 2011 - $5. | |||||||||||||||||||
The final calculation of the withdrawal liability initially recognized in 2012 is pending the finalization of certain plan year-related data and is therefore subject to adjustment. The associated cash obligation is payable over a maximum 20 year period; management has not determined the actual period over which the payments will be made. | |||||||||||||||||||
Postretirement benefits | |||||||||||||||||||
Multiemployer postretirement benefit plans provide health care and other welfare benefits to active and retired employees who have met certain age and service requirements. Contributions to multiemployer postretirement benefit plans were (in millions): 2013 - $13; 2012 - $13; 2011 - $14. | |||||||||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||||||||
Dec. 28, 2013 | ||||||||||||||||||
Income Taxes [Abstract] | ' | |||||||||||||||||
Income Taxes [Text Block] | ' | |||||||||||||||||
NOTE 11 | ||||||||||||||||||
INCOME TAXES | ||||||||||||||||||
The components of income before income taxes and the provision for income taxes were as follows: | ||||||||||||||||||
(millions) | 2013 | 2012 | 2011 | |||||||||||||||
Income before income taxes | ||||||||||||||||||
United States | $ | 2,102 | $ | 1,008 | $ | 935 | ||||||||||||
Foreign | 504 | 317 | 249 | |||||||||||||||
2,606 | 1,325 | 1,184 | ||||||||||||||||
Income taxes | ||||||||||||||||||
Currently payable | ||||||||||||||||||
Federal | 302 | 383 | 285 | |||||||||||||||
State | 68 | 34 | 26 | |||||||||||||||
Foreign | 105 | 105 | 108 | |||||||||||||||
475 | 522 | 419 | ||||||||||||||||
Deferred | ||||||||||||||||||
Federal | 331 | -129 | -57 | |||||||||||||||
State | -2 | 8 | 3 | |||||||||||||||
Foreign | -12 | -38 | -45 | |||||||||||||||
317 | -159 | -99 | ||||||||||||||||
Total income taxes | $ | 792 | $ | 363 | $ | 320 | ||||||||||||
The difference between the U.S. federal statutory tax rate and the Company's effective income tax rate was: | ||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
U.S. statutory income tax rate | 35 | % | 35 | % | 35 | % | ||||||||||||
Foreign rates varying from 35% | -3.5 | -4.4 | -4.9 | |||||||||||||||
State income taxes, net of federal benefit | 1.7 | 2.1 | 1.6 | |||||||||||||||
Cost (benefit) of remitted and unremitted foreign earnings | -0.4 | -1.8 | -1.8 | |||||||||||||||
Tax audit activity | -0.1 | 0 | -0.5 | |||||||||||||||
Net change in valuation allowances | 0.4 | 0.8 | 0.9 | |||||||||||||||
Statutory rate changes, deferred tax impact | -0.5 | -0.3 | -0.5 | |||||||||||||||
U.S. deduction for qualified production activities | -0.9 | -2.1 | -1.8 | |||||||||||||||
Other | -1.3 | -1.9 | -1 | |||||||||||||||
Effective income tax rate | 30.4 | % | 27.4 | % | 27 | % | ||||||||||||
As presented in the preceding table, the Company's 2013 consolidated effective tax rate was 30.4%, as compared to 27.4% in 2012 and 27.0% in 2011. | ||||||||||||||||||
The 2013 effective income tax rate was negatively impacted by income generated from mark-to-market adjustments for the Company's pension plans that was generally incurred in jurisdictions with tax rates higher than the effective income tax rate. As of December 28, 2013, the Company recorded a deferred tax liability of $2 million related to $24 million of foreign earnings not considered indefinitely reinvested. Accumulated foreign earnings of approximately $2.2 billion, primarily in Europe and Mexico, were considered indefinitely reinvested. Accordingly, deferred income taxes have not been provided on these earnings and it is not practical to estimate the deferred tax impact of those earnings. | ||||||||||||||||||
The 2012 effective income tax rate benefited from the elimination of a tax liability related to certain international earnings now considered indefinitely reinvested. As of December 29, 2012, the Company recorded a deferred tax liability of $5 million related to $258 million of earnings. Accumulated foreign earnings of approximately $1.7 billion, primarily in Europe, were considered indefinitely reinvested. Accordingly, deferred income taxes have not been provided on these earnings and it is not practical to estimate the deferred tax impact of those earnings. | ||||||||||||||||||
The 2011 effective income tax rate benefited from an international legal restructuring reflected in the cost (benefit) of remitted and unremitted foreign earnings. During the third quarter of 2011, the Company recorded a benefit of $7 million from the decrease in the statutory rate in the United Kingdom. | ||||||||||||||||||
Management monitors the Company's ability to utilize certain future tax deductions, operating losses and tax credit carryforwards, prior to expiration. Changes resulting from management's assessment will result in impacts to deferred tax assets and the corresponding impacts on the effective income tax rate. Valuation allowances were recorded to reduce deferred tax assets to an amount that will, more likely than not, be realized in the future. The total tax benefit of carryforwards at year-end 2013 and 2012 were $ 55 million and $ 61 million, respectively, with related valuation allowances at year-end 2013 and 2012 of $49 million and $50 million, respectively. Of the total carryforwards at year-end 2013, substantially all will expire after 2018. | ||||||||||||||||||
The following table provides an analysis of the Company's deferred tax assets and liabilities as of year-end 2013 and 2012. Deferred tax assets on employee benefits decreased in 2013 due to increased asset returns and discount rate increases associated with the Company's pension and postretirement plans. | ||||||||||||||||||
Deferred tax assets | Deferred tax liabilities | |||||||||||||||||
(millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
U.S. state income taxes | $ | 13 | $ | 7 | $ | 61 | $ | 63 | ||||||||||
Advertising and promotion-related | 23 | 23 | - | - | ||||||||||||||
Wages and payroll taxes | 36 | 26 | - | - | ||||||||||||||
Inventory valuation | 37 | 22 | - | - | ||||||||||||||
Employee benefits | 65 | 426 | - | - | ||||||||||||||
Operating loss and credit carryforwards | 55 | 61 | - | - | ||||||||||||||
Hedging transactions | 10 | 2 | - | - | ||||||||||||||
Depreciation and asset disposals | - | - | 366 | 386 | ||||||||||||||
Trademarks and other intangibles | - | - | 529 | 496 | ||||||||||||||
Deferred compensation | 36 | 39 | - | - | ||||||||||||||
Stock options | 36 | 51 | - | - | ||||||||||||||
Unremitted foreign earnings | - | - | 2 | 5 | ||||||||||||||
Other | 109 | 90 | - | - | ||||||||||||||
420 | 747 | 958 | 950 | |||||||||||||||
Less valuation allowance | -61 | -59 | - | - | ||||||||||||||
Total deferred taxes | $ | 359 | $ | 688 | $ | 958 | $ | 950 | ||||||||||
Net deferred tax asset (liability) | $ | -599 | $ | -262 | ||||||||||||||
Classified in balance sheet as: | ||||||||||||||||||
Other current assets | $ | 195 | $ | 159 | ||||||||||||||
Other current liabilities | -13 | -8 | ||||||||||||||||
Other assets | 147 | 110 | ||||||||||||||||
Other liabilities | -928 | -523 | ||||||||||||||||
Net deferred tax asset (liability) | $ | -599 | $ | -262 | ||||||||||||||
The change in valuation allowance reducing deferred tax assets was: | ||||||||||||||||||
(millions) | 2013 | 2012 | 2011 | |||||||||||||||
Balance at beginning of year | $ | 59 | $ | 46 | $ | 36 | ||||||||||||
Additions charged to income tax expense | 17 | 12 | 12 | |||||||||||||||
Reductions credited to income tax expense | -3 | - | -1 | |||||||||||||||
Other (a) | -10 | - | - | |||||||||||||||
Currency translation adjustments | -2 | 1 | -1 | |||||||||||||||
Balance at end of year | $ | 61 | $ | 59 | $ | 46 | ||||||||||||
(a) | Reduction due to the disposition of a business resulting in deferred tax asset and valuation allowance being eliminated. | |||||||||||||||||
Cash paid for income taxes was (in millions): 2013–$426; 2012–$508; 2011–$271. Income tax benefits realized from stock option exercises and deductibility of other equity-based awards are presented in Note 7. | ||||||||||||||||||
Uncertain tax positions | ||||||||||||||||||
The Company is subject to federal income taxes in the U.S. as well as various state, local, and foreign jurisdictions. The Company's annual provision for U.S. federal income taxes represents approximately 80% of the Company's consolidated income tax provision. The Company was chosen to participate in the Internal Revenue Service (IRS) Compliance Assurance Program (CAP) beginning with the 2008 tax year. As a result, with limited exceptions, the Company is no longer subject to U.S. federal examinations by the IRS for years prior to 2012. The Company is under examination for income and non-income tax filings in various state and foreign jurisdictions. The assessments previously issued by the Spanish tax authorities for the 2005 and 2006 tax years related to intercompany activity have been resolved in the current year with no material impact to the financial results. | ||||||||||||||||||
As of December 28, 2013, the Company has classified $10 million of unrecognized tax benefits as a current liability. Management's estimate of reasonably possible changes in unrecognized tax benefits during the next twelve months is comprised of the current liability balance expected to be settled within one year, offset by approximately $9 million of projected additions related primarily to ongoing intercompany transfer pricing activity. Management is currently unaware of any issues under review that could result in significant additional payments, accruals, or other material deviation in this estimate. | ||||||||||||||||||
Following is a reconciliation of the Company's total gross unrecognized tax benefits as of the years ended December 28, 2013, December 29, 2012 and December 31, 2011. For the 2013 year, approximately $56 million represents the amount that, if recognized, would affect the Company's effective income tax rate in future periods. | ||||||||||||||||||
(millions) | 2013 | 2012 | 2011 | |||||||||||||||
Balance at beginning of year | $ | 80 | $ | 66 | $ | 104 | ||||||||||||
Tax positions related to current year: | ||||||||||||||||||
Additions | 9 | 8 | 7 | |||||||||||||||
Tax positions related to prior years: | ||||||||||||||||||
Additions | 17 | 14 | 8 | |||||||||||||||
Reductions | -13 | -4 | -19 | |||||||||||||||
Settlements | -14 | -1 | -27 | |||||||||||||||
Lapses in statutes of limitation | - | -3 | -7 | |||||||||||||||
Balance at end of year | $ | 79 | $ | 80 | $ | 66 | ||||||||||||
For the year ended December 28, 2013, the Company recognized an increase of $4 million of tax-related interest and penalties and cash settlements of $6 million, resulting in an accrual balance of $17 million at year end. For the year ended December 29, 2012, the Company recognized an increase of $4 million of tax-related interest and penalties and had $19 million accrued at December 29, 2012. For the year ended December 31, 2011, the Company recognized a decrease of $3 million of tax-related interest and penalties and had approximately $16 million accrued at December 31, 2011. |
Derivative_Instruments_and_Fai
Derivative Instruments and Fair Value Measurements | 12 Months Ended | ||||||||||||||||||||
Dec. 28, 2013 | |||||||||||||||||||||
Derivative Instruments and Fair Value Measurements [Abstract] | ' | ||||||||||||||||||||
Derivative Instruments and Fair Value Measurements [Text Block] | ' | ||||||||||||||||||||
NOTE 12 | |||||||||||||||||||||
DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS | |||||||||||||||||||||
The Company is exposed to certain market risks such as changes in interest rates, foreign currency exchange rates, and commodity prices, which exist as a part of its ongoing business operations. Management uses derivative financial and commodity instruments, including futures, options, and swaps, where appropriate, to manage these risks. Instruments used as hedges must be effective at reducing the risk associated with the exposure being hedged and must be designated as a hedge at the inception of the contract. | |||||||||||||||||||||
The Company designates derivatives as cash flow hedges, fair value hedges, net investment hedges, and uses other contracts to reduce volatility in interest rates, foreign currency and commodities. As a matter of policy, the Company does not engage in trading or speculative hedging transactions. | |||||||||||||||||||||
Total notional amounts of the Company's derivative instruments as of December 28, 2013 and December 29, 2012 were as follows: | |||||||||||||||||||||
(millions) | 2013 | 2012 | |||||||||||||||||||
Foreign currency exchange contracts | $ | 517 | $ | 570 | |||||||||||||||||
Interest rate contracts | 2,400 | 2,150 | |||||||||||||||||||
Commodity contracts | 361 | 320 | |||||||||||||||||||
Total | $ | 3,278 | $ | 3,040 | |||||||||||||||||
Following is a description of each category in the fair value hierarchy and the financial assets and liabilities of the Company that were included in each category at December 28, 2013 and December 29, 2012, measured on a recurring basis. | |||||||||||||||||||||
Level 1 – Financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market. For the Company, level 1 financial assets and liabilities consist primarily of commodity derivative contracts. | |||||||||||||||||||||
Level 2 – Financial assets and liabilities whose values are based on quoted prices in markets that are not active or model inputs that are observable either directly or indirectly for substantially the full term of the asset or liability. For the Company, level 2 financial assets and liabilities consist of interest rate swaps and over-the-counter commodity and currency contracts. | |||||||||||||||||||||
The Company's calculation of the fair value of interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve. Over-the-counter commodity derivatives are valued using an income approach based on the commodity index prices less the contract rate multiplied by the notional amount. Foreign currency contracts are valued using an income approach based on forward rates less the contract rate multiplied by the notional amount. The Company's calculation of the fair value of level 2 financial assets and liabilities takes into consideration the risk of nonperformance, including counterparty credit risk. | |||||||||||||||||||||
Level 3 – Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management's own assumptions about the assumptions a market participant would use in pricing the asset or liability. The Company did not have any level 3 financial assets or liabilities as of December 28, 2013 or December 29, 2012. | |||||||||||||||||||||
The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheet on a recurring basis as of December 28, 2013 and December 29, 2012: | |||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
(millions) | Level 1 | Level 2 | Total | Level 1 | Level 2 | Total | |||||||||||||||
Assets: | |||||||||||||||||||||
Foreign currency exchange contracts: | |||||||||||||||||||||
Other current assets | $ | - | $ | 7 | $ | 7 | $ | - | $ | 4 | $ | 4 | |||||||||
Interest rate contracts (a): | |||||||||||||||||||||
Other assets | - | - | - | - | 64 | 64 | |||||||||||||||
Total assets | $ | - | $ | 7 | $ | 7 | $ | - | $ | 68 | $ | 68 | |||||||||
Liabilities: | |||||||||||||||||||||
Foreign currency exchange contracts: | |||||||||||||||||||||
Other current liabilities | $ | - | $ | -8 | $ | -8 | $ | - | $ | -3 | $ | -3 | |||||||||
Interest rate contracts: | |||||||||||||||||||||
Other liabilities | - | -59 | -59 | - | - | - | |||||||||||||||
Commodity contracts: | |||||||||||||||||||||
Other current liabilities | - | -9 | -9 | - | -11 | -11 | |||||||||||||||
Other liabilities | - | -19 | -19 | - | -27 | -27 | |||||||||||||||
Total liabilities | $ | - | $ | -95 | $ | -95 | $ | - | $ | -41 | $ | -41 | |||||||||
(a) | The fair value of the related hedged portion of the Company's long-term debt, a level 2 liability, was $2.5 billion as of December 28, 2013 and $2.3 billion as of December 29, 2012: | ||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
(millions) | Level 1 | Level 2 | Total | Level 1 | Level 2 | Total | |||||||||||||||
Assets: | |||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||
Other current assets | $ | 3 | $ | - | $ | 3 | $ | 5 | $ | - | $ | 5 | |||||||||
Total assets | $ | 3 | $ | - | $ | 3 | $ | 5 | $ | - | $ | 5 | |||||||||
Liabilities: | |||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||
Other current liabilities | $ | -7 | $ | - | $ | -7 | $ | -3 | $ | - | $ | -3 | |||||||||
Total liabilities | $ | -7 | $ | - | $ | -7 | $ | -3 | $ | - | $ | -3 | |||||||||
The effect of derivative instruments on the Consolidated Statement of Income for the years ended December 28, 2013 and December 29, 2012 were as follows: | |||||||||||||||||||||
Derivatives in fair value hedging relationships | |||||||||||||||||||||
Location of gain | Gain (loss) | ||||||||||||||||||||
(loss) recognized | recognized in | ||||||||||||||||||||
(millions) | in income | income (a) | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Foreign currency exchange contracts | OIE | $ | 2 | $ | -1 | ||||||||||||||||
Interest rate contracts | Interest expense | -5 | 5 | ||||||||||||||||||
Total | $ | -3 | $ | 4 | |||||||||||||||||
(a) | Includes the ineffective portion and amount excluded from effectiveness testing. | ||||||||||||||||||||
Derivatives in cash flow hedging relationships | |||||||||||||||||||||
Location of gain | Gain (loss) | Location of gain | |||||||||||||||||||
Gain (loss) | (loss) reclassified | reclassified from | (loss) recognized | Gain (loss) | |||||||||||||||||
(millions) | recognized in AOCI | from AOCI | AOCI into income | in income (a) | recognized in income(a) | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Foreign currency exchange contracts | $ | 13 | $ | - | COGS | $ | 10 | $ | -1 | OIE | $ | - | $ | - | |||||||
Foreign currency exchange contracts | -2 | 1 | SGA expense | 2 | 2 | OIE | - | - | |||||||||||||
Interest rate contracts | - | - | Interest expense | 4 | 4 | N/A | - | - | |||||||||||||
Commodity contracts | - | -6 | COGS | -10 | -19 | OIE | - | - | |||||||||||||
Total | $ | 11 | $ | -5 | $ | 6 | $ | -14 | $ | - | $ | - | |||||||||
(a) | Includes the ineffective portion and amount excluded from effectiveness testing. | ||||||||||||||||||||
Derivatives in net investment hedging relationships | |||||||||||||||||||||
Gain (loss) | |||||||||||||||||||||
(millions) | recognized in AOCI | ||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Foreign currency exchange contracts | $ | - | $ | 5 | |||||||||||||||||
Total | $ | - | $ | 5 | |||||||||||||||||
Derivatives not designated as hedging instruments | |||||||||||||||||||||
Location of gain | Gain (loss) | ||||||||||||||||||||
(loss) recognized | recognized in | ||||||||||||||||||||
(millions) | in income | income | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Foreign currency exchange contracts | OIE | $ | 3 | $ | - | ||||||||||||||||
Interest rate contracts | Interest expense | - | -1 | ||||||||||||||||||
Commodity contracts | COGS | -37 | -10 | ||||||||||||||||||
Total | $ | -34 | $ | -11 | |||||||||||||||||
During the next 12 months, the Company expects $5 million of net deferred losses reported in accumulated other comprehensive income (AOCI) at December 28, 2013 to be reclassified to income, assuming market rates remain constant through contract maturities. | |||||||||||||||||||||
Certain of the Company's derivative instruments contain provisions requiring the Company to post collateral on those derivative instruments that are in a liability position if the Company's credit rating falls below BB+ (S&P), or Baa1 (Moody's). The fair value of all derivative instruments with credit-risk-related contingent features in a liability position on December 28, 2013 was $87 million. If the credit-risk-related contingent features were triggered as of December 28, 2013, the Company would be required to post additional collateral of $78 million. In addition, certain derivative instruments contain provisions that would be triggered in the event the Company defaults on its debt agreements. There were no collateral posting requirements as of December 28, 2013 triggered by credit-risk-related contingent features, however there was $9 million of collateral posted under the reciprocal agreements as discussed under the counterparty credit risk concentration below. | |||||||||||||||||||||
Other fair value measurements | |||||||||||||||||||||
2013 Fair Value Measurements on a Nonrecurring Basis | |||||||||||||||||||||
On November 4, 2013, the Company announced Project K, a four-year efficiency and effectiveness program. As part of Project K the Company will be consolidating the usage of and disposing certain long-lived assets, including manufacturing facilities and Corporate owned assets over the term of the program. In the fourth quarter of 2013, long-lived assets of $97 million, including manufacturing facilities in our U.S. Morning Foods and Asia Pacific reporting units and certain Corporate owned assets, were written down to an estimated fair value of $31 million due to Project K. The Company's calculation of the fair value of long-lived assets is based on Level 3 inputs, including market comparables, market trends and the condition of the assets. See Note 3 for more information. | |||||||||||||||||||||
During 2013, the Company recognized asset impairment charges totaling $4 million on the manufacturing facility in Australia closed during 2012 and currently held for sale. | |||||||||||||||||||||
2012 Fair Value Measurements on a Nonrecurring Basis | |||||||||||||||||||||
In the fourth quarter of 2012, a $17 million asset impairment was recognized related the closure of a manufacturing facility in Australia. The long-lived assets and supplies associated with this facility were written down to fair value of $11 million. The Company's calculation of the fair value of long-lived assets was based on Level 3 inputs, including market comparables, market trends and the condition of the assets. See Note 3 for more information. | |||||||||||||||||||||
The following table presents level 3 assets that were measured at fair value on the Consolidated Balance Sheet on a nonrecurring basis as of December 28, 2013: | |||||||||||||||||||||
(millions) | Fair Value | Total Loss | |||||||||||||||||||
Description: | |||||||||||||||||||||
Long-lived assets | $ | 38 | $ | -70 | |||||||||||||||||
Total | $ | 38 | $ | -70 | |||||||||||||||||
The following table presents level 3 assets that were measured at fair value on the Consolidated Balance Sheet on a nonrecurring basis as of December 29, 2012: | |||||||||||||||||||||
(millions) | Fair Value | Total Loss | |||||||||||||||||||
Description: | |||||||||||||||||||||
Long-lived assets | $ | 11 | $ | -17 | |||||||||||||||||
Total | $ | 11 | $ | -17 | |||||||||||||||||
Financial instruments | |||||||||||||||||||||
The carrying values of the Company's short-term items, including cash, cash equivalents, accounts receivable, accounts payable and notes payable approximate fair value. The fair value of the Company's long-term debt, which are level 2 liabilities, is calculated based on broker quotes and was as follows at December 28, 2013: | |||||||||||||||||||||
(millions) | Fair Value | Carrying Value | |||||||||||||||||||
Current maturities of long-term debt | $ | 289 | $ | 289 | |||||||||||||||||
Long-term debt | 6,715 | 6,330 | |||||||||||||||||||
Total | $ | 7,004 | $ | 6,619 | |||||||||||||||||
Counterparty credit risk concentration | |||||||||||||||||||||
The Company is exposed to credit loss in the event of nonperformance by counterparties on derivative financial and commodity contracts. Management believes a concentration of credit risk with respect to derivative counterparties is limited due to the credit ratings and use of master netting and reciprocal collateralization agreements with the counterparties and the use of exchange-traded commodity contracts. | |||||||||||||||||||||
Master netting agreements apply in situations where the Company executes multiple contracts with the same counterparty. If these counterparties fail to perform according to the terms of derivative contracts, this could result in a loss to the Company. As of December 28, 2013, there were no counterparties that represented a significant concentration of credit risk to the Company. | |||||||||||||||||||||
For certain derivative contracts, reciprocal collateralization agreements with counterparties call for the posting of collateral in the form of cash, treasury securities or letters of credit if a fair value loss position to the Company or its counterparties exceeds a certain amount. As of December 28, 2013, the Company had posted collateral of $9 million in the form of cash, which was reflected as an increase in accounts receivable on the Consolidated Balance Sheet. | |||||||||||||||||||||
Management believes concentrations of credit risk with respect to accounts receivable is limited due to the generally high credit quality of the Company's major customers, as well as the large number and geographic dispersion of smaller customers. However, the Company conducts a disproportionate amount of business with a small number of large multinational grocery retailers, with the five largest accounts encompassing approximately 29% of consolidated trade receivables at December 28, 2013. | |||||||||||||||||||||
Refer to Note 1 for disclosures regarding the Company's accounting policies for derivative instruments. | |||||||||||||||||||||
Product_Recall
Product Recall | 12 Months Ended | |||
Dec. 28, 2013 | ||||
Product Recall [Abstract] | ' | |||
Product Recall [Text Block] | ' | |||
NOTE 13 | ||||
PRODUCT RECALL | ||||
During 2012 the Company recorded charges in connection with a recall of certain packages of Mini-Wheats cereal in the U.S. and Canada due to the possible presence of fragments of flexible metal mesh from a faulty manufacturing part. The Company recorded estimated customer returns and consumer rebates as a reduction of net sales and costs associated with returned product and the disposal and write-off of inventory as COGS. | ||||
The following table presents a summary of charges related to the above recall for the year ended December 29, 2012: | ||||
(millions, except per share amount) | 2012 | |||
Reduction of net sales | $ | 14 | ||
COGS | 12 | |||
Total | $ | 26 | ||
Impact on earnings per diluted share | $ | -0.05 | ||
Contingencies
Contingencies | 12 Months Ended |
Dec. 28, 2013 | |
Loss Contingency [Abstract] | ' |
Contingencies [Text Block] | ' |
NOTE 14 | |
CONTINGENCIES | |
The Company is subject to various legal proceedings, claims, and governmental inspections or investigations in the ordinary course of business covering matters such as general commercial, governmental regulations, antitrust and trade regulations, product liability, environmental, intellectual property, workers' compensation, employment and other actions. These matters are subject to uncertainty and the outcome is not predictable with assurance. The Company uses a combination of insurance and self-insurance for a number of risks, including workers' compensation, general liability, automobile liability and product liability. | |
The Company has established accruals for certain matters where losses are deemed probable and reasonably estimable. There are other claims and legal proceedings pending against the Company for which accruals have not been established. It is reasonably possible that some of these matters could result in an unfavorable judgment against the Company and could require payment of claims in amounts that cannot be estimated at December 28, 2013. Based upon current information, management does not expect any of the claims or legal proceedings pending against the Company to have a material impact on the Company's consolidated financial statements. |
Quarterly_Financial_Data_unaud
Quarterly Financial Data (unaudited) | 12 Months Ended | |||||||||||||||||||
Dec. 28, 2013 | ||||||||||||||||||||
Quarterly Financial Data [Abstract] | ' | |||||||||||||||||||
Quarterly Financial Data (unaudited) [Text Block] | ' | |||||||||||||||||||
NOTE 15 | ||||||||||||||||||||
QUARTERLY FINANCIAL DATA (unaudited) | ||||||||||||||||||||
Net sales | Gross profit | |||||||||||||||||||
(millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||
First | $ | 3,861 | $ | 3,440 | $ | 1,393 | $ | 1,353 | ||||||||||||
Second | 3,714 | 3,474 | 1,477 | 1,439 | ||||||||||||||||
Third | 3,716 | 3,720 | 1,450 | 1,466 | ||||||||||||||||
Fourth | 3,501 | 3,563 | 1,783 | 1,176 | ||||||||||||||||
$ | 14,792 | $ | 14,197 | $ | 6,103 | $ | 5,434 | |||||||||||||
Net income attributable to Kellogg Company | Per share amounts | |||||||||||||||||||
(millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Basic | Diluted | Basic | Diluted | |||||||||||||||||
First | $ | 311 | $ | 351 | $ | 0.86 | $ | 0.85 | $ | 0.98 | $ | 0.98 | ||||||||
Second | 352 | 324 | 0.96 | 0.96 | 0.91 | 0.9 | ||||||||||||||
Third | 326 | 318 | 0.9 | 0.9 | 0.89 | 0.89 | ||||||||||||||
Fourth | 818 | -32 | 2.26 | 2.24 | -0.09 | -0.09 | ||||||||||||||
$ | 1,807 | $ | 961 | |||||||||||||||||
The principal market for trading Kellogg shares is the New York Stock Exchange (NYSE). At December 28, 2013, the closing price (on the NYSE) was $60.98 and there were 38,271 shareholders of record. | ||||||||||||||||||||
Dividends paid per share and the quarterly price ranges on the NYSE during the last two years were: | ||||||||||||||||||||
Dividend | Stock price | |||||||||||||||||||
2013 - Quarter | per share | High | Low | |||||||||||||||||
First | $ | 0.44 | $ | 64.75 | $ | 55.02 | ||||||||||||||
Second | 0.44 | 66.84 | 61.03 | |||||||||||||||||
Third | 0.46 | 67.98 | 58.59 | |||||||||||||||||
Fourth | 0.46 | 64.92 | 58.01 | |||||||||||||||||
$ | 1.8 | |||||||||||||||||||
2012 - Quarter | ||||||||||||||||||||
First | $ | 0.43 | $ | 53.86 | $ | 49.07 | ||||||||||||||
Second | 0.43 | 54.2 | 47.88 | |||||||||||||||||
Third | 0.44 | 52.15 | 46.33 | |||||||||||||||||
Fourth | 0.44 | 57.21 | 51.27 | |||||||||||||||||
$ | 1.74 | |||||||||||||||||||
During 2013, the Company recorded the following charges / (gains) in operating profit: | ||||||||||||||||||||
2013 | ||||||||||||||||||||
(millions) | First | Second | Third | Fourth | Full Year | |||||||||||||||
Asset impairment and exit costs | $ | 13 | $ | 7 | $ | 27 | $ | 203 | $ | 250 | ||||||||||
(Gains) / losses on mark-to-market adjustments | 54 | 7 | -2 | -1,006 | -947 | |||||||||||||||
$ | 67 | $ | 14 | $ | 25 | $ | -803 | $ | -697 | |||||||||||
During 2012, the Company recorded the following charges / (gains) in operating profit: | ||||||||||||||||||||
2012 | ||||||||||||||||||||
(millions) | First | Second | Third | Fourth | Full Year | |||||||||||||||
Asset impairment and exit costs | $ | 9 | $ | 9 | $ | 11 | $ | 27 | $ | 56 | ||||||||||
(Gains) / losses on mark-to-market adjustments | 50 | - | - | 402 | 452 | |||||||||||||||
$ | 59 | $ | 9 | $ | 11 | $ | 429 | $ | 508 | |||||||||||
Reportable_Segments
Reportable Segments | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Reportable Segments [Abstract] | ' | |||||||||||
Reportable Segments [Text Block] | ' | |||||||||||
NOTE 16 | ||||||||||||
REPORTABLE SEGMENTS | ||||||||||||
Kellogg Company is the world's leading producer of cereal, second largest producer of cookies and crackers and a leading producer of savory snacks and frozen foods. Additional product offerings include toaster pastries, cereal bars, fruit-flavored snacks and veggie foods. Kellogg products are manufactured and marketed globally. Principal markets for these products include the United States and United Kingdom. | ||||||||||||
The Company has the following reportable segments: U.S. Morning Foods; U.S. Snacks; U.S. Specialty; North America Other; Europe; Latin America; and Asia Pacific. The Company manages its operations through eight operating segments that are based on product category or geographic location. These operating segments are evaluated for similarity with regards to economic characteristics, products, production processes, types or classes of customers, distribution methods and regulatory environments to determine if they can be aggregated into reportable segments. Beginning in the first quarter of 2013, the Kashi operating segment, which was formerly aggregated with the U.S. Morning Foods operating segment and reported as U.S. Morning Foods and Kashi, was revised due to a reorganization of the business. Kashi operating segment results of prior years were recast between U.S. Morning Foods and U.S. Snacks to conform with current presentation. The reportable segments are discussed in greater detail below. | ||||||||||||
The U.S. Morning Foods operating segment includes cereal, toaster pastries, and health and wellness business bars, and beverages. | ||||||||||||
U.S. Snacks includes cookies, crackers, cereal bars, savory snacks and fruit-flavored snacks. | ||||||||||||
U.S. Specialty includes the food service and Girl Scouts business. The food service business is mostly non-commercial, serving institutions such as schools and hospitals. | ||||||||||||
North America Other includes the U.S. Frozen and Canada operating segments. As these operating segments are not considered economically similar enough to aggregate with other operating segments and are immaterial for separate disclosure, they have been grouped together as a single reportable segment. | ||||||||||||
The three remaining reportable segments are based on geographic location – Europe which consists principally of European countries; Latin America which is comprised of Central and South America and includes Mexico; and Asia Pacific which is comprised of South Africa, Australia and other Asian and Pacific markets. | ||||||||||||
The measurement of reportable segment results is based on segment operating profit which is generally consistent with the presentation of operating profit in the Consolidated Statement of Income. Intercompany transactions between operating segments were insignificant in all periods presented. | ||||||||||||
(millions) | 2013 | 2012 | 2011 | |||||||||
Net sales | ||||||||||||
U.S. Morning Foods | $ | 3,465 | $ | 3,533 | $ | 3,450 | ||||||
U.S. Snacks | 3,534 | 3,400 | 3,044 | |||||||||
U.S. Specialty | 1,202 | 1,121 | 1,008 | |||||||||
North America Other | 1,515 | 1,485 | 1,371 | |||||||||
Europe | 2,860 | 2,527 | 2,334 | |||||||||
Latin America | 1,195 | 1,121 | 1,049 | |||||||||
Asia Pacific | 1,021 | 1,010 | 942 | |||||||||
Consolidated | $ | 14,792 | $ | 14,197 | $ | 13,198 | ||||||
Operating profit | ||||||||||||
U.S. Morning Foods | $ | 485 | $ | 588 | $ | 609 | ||||||
U.S. Snacks | 447 | 476 | 439 | |||||||||
U.S. Specialty | 265 | 241 | 231 | |||||||||
North America Other | 275 | 265 | 250 | |||||||||
Europe | 256 | 261 | 302 | |||||||||
Latin America | 157 | 167 | 176 | |||||||||
Asia Pacific | 60 | 85 | 104 | |||||||||
Total Reportable Segments | 1,945 | 2,083 | 2,111 | |||||||||
Corporate | 892 | -521 | -684 | |||||||||
Consolidated | $ | 2,837 | $ | 1,562 | $ | 1,427 | ||||||
Depreciation and amortization (a) | ||||||||||||
U.S. Morning Foods | $ | 181 | $ | 132 | $ | 130 | ||||||
U.S. Snacks | 144 | 123 | 92 | |||||||||
U.S. Specialty | 8 | 5 | 5 | |||||||||
North America Other | 30 | 34 | 30 | |||||||||
Europe | 84 | 66 | 57 | |||||||||
Latin America | 29 | 26 | 20 | |||||||||
Asia Pacific | 40 | 55 | 27 | |||||||||
Total Reportable Segments | 516 | 441 | 361 | |||||||||
Corporate | 16 | 7 | 8 | |||||||||
Consolidated | $ | 532 | $ | 448 | $ | 369 | ||||||
(a) | Includes asset impairment charges as discussed in Note 12. | |||||||||||
Certain items such as interest expense and income taxes, while not included in the measure of reportable segment operating results, are regularly reviewed by Management for the Company's internationally-based reportable segments as shown below. | ||||||||||||
(millions) | 2013 | 2012 | 2011 | |||||||||
Interest expense | ||||||||||||
North America Other | $ | 6 | $ | 4 | $ | 0 | ||||||
Europe | 6 | 4 | 4 | |||||||||
Latin America | 1 | 4 | 6 | |||||||||
Asia Pacific | 3 | 4 | 2 | |||||||||
Corporate | 219 | 245 | 221 | |||||||||
Consolidated | $ | 235 | $ | 261 | $ | 233 | ||||||
Income taxes | ||||||||||||
Europe | $ | 4 | $ | -21 | $ | 31 | ||||||
Latin America | 35 | 36 | 49 | |||||||||
Asia Pacific | 6 | 9 | 21 | |||||||||
Corporate & North America | 747 | 339 | 219 | |||||||||
Consolidated | $ | 792 | $ | 363 | $ | 320 | ||||||
Management reviews balance sheet information, including total assets, based on geography. For all North American-based operating segments, balance sheet information is reviewed by Management in total and not on an individual operating segment basis. | ||||||||||||
(millions) | 2013 | 2012 | 2011 | |||||||||
Total assets | ||||||||||||
North America | $ | 10,643 | $ | 10,602 | $ | 9,128 | ||||||
Europe | 3,007 | 3,014 | 1,584 | |||||||||
Latin America | 1,052 | 861 | 798 | |||||||||
Asia Pacific | 1,049 | 1,107 | 529 | |||||||||
Corporate | 2,583 | 3,384 | 2,317 | |||||||||
Elimination entries | -2,860 | -3,799 | -2,413 | |||||||||
Consolidated | $ | 15,474 | $ | 15,169 | $ | 11,943 | ||||||
Additions to long-lived assets | ||||||||||||
North America | $ | 296 | $ | 549 | $ | 421 | ||||||
Europe | 182 | 209 | 61 | |||||||||
Latin America | 70 | 40 | 53 | |||||||||
Asia Pacific | 85 | 79 | 54 | |||||||||
Corporate | 4 | 14 | 5 | |||||||||
Consolidated | $ | 637 | $ | 891 | $ | 594 | ||||||
The Company's largest customer, Wal-Mart Stores, Inc. and its affiliates, accounted for approximately 21% of consolidated net sales during 2013, 20% in 2012, and 20% in 2011, comprised principally of sales within the United States. | ||||||||||||
Supplemental geographic information is provided below for net sales to external customers and long-lived assets: | ||||||||||||
(millions) | 2013 | 2012 | 2011 | |||||||||
Net sales | ||||||||||||
United States | $ | 9,060 | $ | 8,875 | $ | 8,239 | ||||||
All other countries | 5,732 | 5,322 | 4,959 | |||||||||
Consolidated | $ | 14,792 | $ | 14,197 | $ | 13,198 | ||||||
Long-lived assets | ||||||||||||
United States | $ | 2,343 | $ | 2,427 | $ | 2,151 | ||||||
All other countries | 1,513 | 1,355 | 1,130 | |||||||||
Consolidated | $ | 3,856 | $ | 3,782 | $ | 3,281 | ||||||
Supplemental product information is provided below for net sales to external customers: | ||||||||||||
(millions) | 2013 | 2012 | 2011 | |||||||||
Retail channel cereal | $ | 6,451 | $ | 6,652 | $ | 6,730 | ||||||
Retail channel snacks | 6,625 | 5,891 | 4,949 | |||||||||
Frozen and specialty channels | 1,716 | 1,654 | 1,519 | |||||||||
Consolidated | $ | 14,792 | $ | 14,197 | $ | 13,198 | ||||||
Supplemental_Financial_Stateme
Supplemental Financial Statement Data | 12 Months Ended | ||||||||
Dec. 28, 2013 | |||||||||
Supplemental Financial Statement Data [Abstract] | ' | ||||||||
Supplemental Financial Statement Data [Text Block] | ' | ||||||||
NOTE 17 | |||||||||
SUPPLEMENTAL FINANCIAL STATEMENT DATA | |||||||||
Consolidated Statement of Income | |||||||||
(millions) | 2013 | 2012 | 2011 | ||||||
Research and development expense | $ | 199 | $ | 206 | $ | 192 | |||
Advertising expense | $ | 1,131 | $ | 1,120 | $ | 1,138 | |||
Consolidated Balance Sheet | 2013 | 2012 | |||||||
(millions) | |||||||||
Trade receivables | $ | 1,231 | $ | 1,185 | |||||
Allowance for doubtful accounts | -5 | -6 | |||||||
Refundable income taxes | 52 | 68 | |||||||
Other receivables | 146 | 207 | |||||||
Accounts receivable, net | $ | 1,424 | $ | 1,454 | |||||
Raw materials and supplies | $ | 319 | $ | 300 | |||||
Finished goods and materials in process | 929 | 1,065 | |||||||
Inventories | $ | 1,248 | $ | 1,365 | |||||
Deferred income taxes | $ | 195 | $ | 152 | |||||
Other prepaid assets | 127 | 128 | |||||||
Other current assets | $ | 322 | $ | 280 | |||||
Land | $ | 125 | $ | 117 | |||||
Buildings | 2,155 | 2,084 | |||||||
Machinery and equipment | 6,059 | 5,978 | |||||||
Capitalized software | 325 | 279 | |||||||
Construction in progress | 693 | 533 | |||||||
Accumulated depreciation | -5,501 | -5,209 | |||||||
Property, net | $ | 3,856 | $ | 3,782 | |||||
Other intangibles | $ | 2,429 | $ | 2,412 | |||||
Accumulated amortization | -62 | -53 | |||||||
Other intangibles, net | $ | 2,367 | $ | 2,359 | |||||
Pension | $ | 419 | $ | 145 | |||||
Other | 514 | 465 | |||||||
Other assets | $ | 933 | $ | 610 | |||||
Accrued income taxes | $ | 69 | $ | 46 | |||||
Accrued salaries and wages | 327 | 266 | |||||||
Accrued advertising and promotion | 476 | 517 | |||||||
Other | 503 | 472 | |||||||
Other current liabilities | $ | 1,375 | $ | 1,301 | |||||
Nonpension postretirement benefits | $ | 68 | $ | 281 | |||||
Other | 429 | 409 | |||||||
Other liabilities | $ | 497 | $ | 690 | |||||
Allowance for doubtful accounts | 2013 | 2012 | 2011 | ||||||
(millions) | |||||||||
Balance at beginning of year | $ | 6 | $ | 8 | $ | 10 | |||
Additions charged to expense | 2 | 1 | - | ||||||
Doubtful accounts charged to reserve | -3 | -3 | -2 | ||||||
Balance at end of year | $ | 5 | $ | 6 | $ | 8 | |||
Subsequent_Event
Subsequent Event | 12 Months Ended |
Dec. 28, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
NOTE 18 | |
SUBSEQUENT EVENTS | |
On February 24, 2014, the Company announced an offer to purchase up to $700 million aggregate principal of its 3.125% U.S. Dollar Debentures due 2022, 2.75% U.S. Dollar Notes due 2023 and 4.0% U.S. Dollar Notes due 2020. The offer to purchase expires March 21, 2014, subject to early termination or extension at the Company's discretion. The Company intends to fund the purchase with the issuance of commercial paper. |
Accounting_Policies_Policies
Accounting Policies (Policies) | 12 Months Ended |
Dec. 28, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of presentation [Policy Text Block] | ' |
Basis of presentation | |
The consolidated financial statements include the accounts of the Kellogg Company, those of the subsidiaries that it controls due to ownership of a majority voting interest and the accounts of the variable interest entities (VIEs) of which Kellogg Company is the primary beneficiary (Kellogg or the Company). The Company continually evaluates its involvement with VIEs to determine whether it has variable interests and is the primary beneficiary of the VIE. When these criteria are met, the Company is required to consolidate the VIE. The Company's share of earnings or losses of nonconsolidated affiliates is included in its consolidated operating results using the equity method of accounting when it is able to exercise significant influence over the operating and financial decisions of the affiliate. The Company uses the cost method of accounting if it is not able to exercise significant influence over the operating and financial decisions of the affiliate. Intercompany balances and transactions are eliminated. | |
The Company's fiscal year normally ends on the Saturday closest to December 31 and as a result, a 53rd week is added approximately every sixth year. The Company's 2013, 2012 and 2011 fiscal years each contained 52 weeks and ended on December 28, 2013, December 29, 2012 and December 31, 2011, respectively. The next fiscal year which will contain a 53rd week for the Company will be 2014, ending on January 3, 2015. | |
Use of estimates [Policy Text Block] | ' |
Use of estimates | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the periods reported. Actual results could differ from those estimates. | |
Cash and cash equivalents [Policy Text Block] | ' |
Cash and cash equivalents | |
Highly liquid investments with remaining stated maturities of three months or less when purchased are considered cash equivalents and recorded at cost. | |
Accounts receivable [Policy Text Block] | ' |
Accounts receivable | |
Accounts receivable consists principally of trade receivables, which are recorded at the invoiced amount, net of allowances for doubtful accounts and prompt payment discounts. Trade receivables do not bear interest. The allowance for doubtful accounts represents management's estimate of the amount of probable credit losses in existing accounts receivable, as determined from a review of past due balances and other specific account data. Account balances are written off against the allowance when management determines the receivable is uncollectible. The Company does not have off-balance sheet credit exposure related to its customers. | |
Inventories [Policy Text Block] | ' |
Inventories | |
Inventories are valued at the lower of cost or market. Cost is determined on an average cost basis. | |
Property [Policy Text Block] | ' |
Property | |
The Company's property consists mainly of plants and equipment used for manufacturing activities. These assets are recorded at cost and depreciated over estimated useful lives using straight-line methods for financial reporting and accelerated methods, where permitted, for tax reporting. Major property categories are depreciated over various periods as follows (in years): manufacturing machinery and equipment 5-30; office equipment 4-5; computer equipment and capitalized software 3-7; building components 15-25; building structures 50. Cost includes interest associated with significant capital projects. Plant and equipment are reviewed for impairment when conditions indicate that the carrying value may not be recoverable. Such conditions include an extended period of idleness or a plan of disposal. Assets to be disposed of at a future date are depreciated over the remaining period of use. Assets to be sold are written down to realizable value at the time the assets are being actively marketed for sale and a sale is expected to occur within one year. As of year-end 2013 and 2012, the carrying value of assets held for sale was insignificant. | |
Goodwill and other intangible assets [Policy Text Block] | ' |
Goodwill and other intangible assets | |
Goodwill and indefinite-lived intangibles are not amortized, but are tested at least annually for impairment of value and whenever events or changes in circumstances indicate the carrying amount of the asset may be impaired. An intangible asset with a finite life is amortized on a straight-line basis over the estimated useful life. | |
For the goodwill impairment test, the fair value of the reporting units are estimated based on market multiples. This approach employs market multiples based on earnings before interest, taxes, depreciation and amortization, earnings for companies that are comparable to the Company's reporting units and discounted cash flow. The assumptions used for the impairment test are consistent with those utilized by a market participant performing similar valuations for the Company's reporting units. | |
Similarly, impairment testing of other intangible assets requires a comparison of carrying value to fair value of that particular asset. Fair values of non-goodwill intangible assets are based primarily on projections of future cash flows to be generated from that asset. For instance, cash flows related to a particular trademark would be based on a projected royalty stream attributable to branded product sales, discounted at rates consistent with rates used by market participants. | |
These estimates are made using various inputs including historical data, current and anticipated market conditions, management plans, and market comparables. | |
Revenue recognition [Policy Text Block] | ' |
Revenue recognition | |
The Company recognizes sales upon delivery of its products to customers. Revenue, which includes shipping and handling charges billed to the customer, is reported net of applicable provisions for discounts, returns, allowances, and various government withholding taxes. Methodologies for determining these provisions are dependent on local customer pricing and promotional practices, which range from contractually fixed percentage price reductions to reimbursement based on actual occurrence or performance. Where applicable, future reimbursements are estimated based on a combination of historical patterns and future expectations regarding specific in-market product performance. | |
Advertising and promotion [Policy Text Block] | ' |
Advertising and promotion | |
The Company expenses production costs of advertising the first time the advertising takes place. Advertising expense is classified in selling, general and administrative (SGA) expense. | |
The Company classifies promotional payments to its customers, the cost of consumer coupons, and other cash redemption offers in net sales. The cost of promotional package inserts is recorded in cost of goods sold (COGS). Other types of consumer promotional expenditures are recorded in SGA expense. | |
Research and development [Policy Text Block] | ' |
Research and development | |
The costs of research and development (R&D) are expensed as incurred and are classified in SGA expense. R&D includes expenditures for new product and process innovation, as well as significant technological improvements to existing products and processes. The Company's R&D expenditures primarily consist of internal salaries, wages, consulting, and supplies attributable to time spent on R&D activities. Other costs include depreciation and maintenance of research facilities and equipment, including assets at manufacturing locations that are temporarily engaged in pilot plant activities. | |
Stock-based compensation [Policy Text Block] | ' |
Stock-based compensation | |
The Company uses stock-based compensation, including stock options, restricted stock, restricted stock units, and executive performance shares, to provide long-term performance incentives for its global workforce. | |
The Company classifies pre-tax stock compensation expense principally in SGA expense within its corporate operations. Expense attributable to awards of equity instruments is recorded in capital in excess of par value in the Consolidated Balance Sheet. | |
Certain of the Company's stock-based compensation plans contain provisions that accelerate vesting of awards upon retirement, disability, or death of eligible employees and directors. A stock-based award is considered vested for expense attribution purposes when the employee's retention of the award is no longer contingent on providing subsequent service. Accordingly, the Company recognizes compensation cost immediately for awards granted to retirement-eligible individuals or over the period from the grant date to the date retirement eligibility is achieved, if less than the stated vesting period. | |
The Company recognizes compensation cost for stock option awards that have a graded vesting schedule on a straight-line basis over the requisite service period for the entire award. | |
Corporate income tax benefits realized upon exercise or vesting of an award in excess of that previously recognized in earnings (“windfall tax benefit”) is recorded in other financing activities in the Consolidated Statement of Cash Flows. Realized windfall tax benefits are credited to capital in excess of par value in the Consolidated Balance Sheet. Realized shortfall tax benefits (amounts which are less than that previously recognized in earnings) are first offset against the cumulative balance of windfall tax benefits, if any, and then charged directly to income tax expense. The Company currently has sufficient cumulative windfall tax benefits to absorb arising shortfalls, such that earnings were not affected during the periods presented. Correspondingly, the Company includes the impact of pro forma deferred tax assets (i.e., the “as if” windfall or shortfall) for purposes of determining assumed proceeds in the treasury stock calculation of diluted earnings per share. | |
Income taxes [Policy Text Block] | ' |
Income taxes | |
The Company recognizes uncertain tax positions based on a benefit recognition model. Provided that the tax position is deemed more likely than not of being sustained, the Company recognizes the largest amount of tax benefit that is greater than 50 percent likely of being ultimately realized upon settlement. The tax position is derecognized when it is no longer more likely than not of being sustained. The Company classifies income tax-related interest and penalties as interest expense and SGA expense, respectively, on the Consolidated Statement of Income. The current portion of the Company's unrecognized tax benefits is presented in the Consolidated Balance Sheet in other current assets and other current liabilities, and the amounts expected to be settled after one year are recorded in other assets and other liabilities. | |
Income taxes are provided on the portion of foreign earnings that is expected to be remitted to and taxable in the United States. | |
Derivative instruments [Policy Text Block] | ' |
Derivative Instruments | |
The fair value of derivative instruments is recorded in other current assets, other assets, other current liabilities or other liabilities. Gains and losses representing either hedge ineffectiveness, hedge components excluded from the assessment of effectiveness, or hedges of translational exposure are recorded in the Consolidated Statement of Income in other income (expense), net (OIE). In the Consolidated Statement of Cash Flows, settlements of cash flow and fair value hedges are classified as an operating activity; settlements of all other derivative instruments, including instruments for which hedge accounting has been discontinued, are classified consistent with the nature of the instrument. | |
Cash flow hedges. Qualifying derivatives are accounted for as cash flow hedges when the hedged item is a forecasted transaction. Gains and losses on these instruments are recorded in other comprehensive income until the underlying transaction is recorded in earnings. When the hedged item is realized, gains or losses are reclassified from accumulated other comprehensive income (loss) (AOCI) to the Consolidated Statement of Income on the same line item as the underlying transaction. | |
Fair value hedges. Qualifying derivatives are accounted for as fair value hedges when the hedged item is a recognized asset, liability, or firm commitment. Gains and losses on these instruments are recorded in earnings, offsetting gains and losses on the hedged item. | |
Net investment hedges. Qualifying derivative and nonderivative financial instruments are accounted for as net investment hedges when the hedged item is a nonfunctional currency investment in a subsidiary. Gains and losses on these instruments are included in foreign currency translation adjustments in AOCI. | |
Derivatives not designated for hedge accounting. Gains and losses on these instruments are recorded in the Consolidated Statement of Income, on the same line item as the underlying hedged item. | |
Other contracts. The Company periodically enters into foreign currency forward contracts and options to reduce volatility in the translation of foreign currency earnings to U.S. dollars. Gains and losses on these instruments are recorded in OIE, generally reducing the exposure to translation volatility during a full-year period. | |
Foreign currency exchange risk. The Company is exposed to fluctuations in foreign currency cash flows related primarily to third-party purchases, intercompany transactions and when applicable, nonfunctional currency denominated third-party debt. The Company is also exposed to fluctuations in the value of foreign currency investments in subsidiaries and cash flows related to repatriation of these investments. Additionally, the Company is exposed to volatility in the translation of foreign currency denominated earnings to U.S. dollars. Management assesses foreign currency risk based on transactional cash flows and translational volatility and may enter into forward contracts, options, and currency swaps to reduce fluctuations in long or short currency positions. Forward contracts and options are generally less than 18 months duration. Currency swap agreements are established in conjunction with the term of underlying debt issues. | |
For foreign currency cash flow and fair value hedges, the assessment of effectiveness is generally based on changes in spot rates. Changes in time value are reported in OIE. | |
Interest rate risk. The Company is exposed to interest rate volatility with regard to future issuances of fixed rate debt and existing and future issuances of variable rate debt. The Company periodically uses interest rate swaps, including forward-starting swaps, to reduce interest rate volatility and funding costs associated with certain debt issues, and to achieve a desired proportion of variable versus fixed rate debt, based on current and projected market conditions. | |
Fixed-to-variable interest rate swaps are accounted for as fair value hedges and the assessment of effectiveness is based on changes in the fair value of the underlying debt, using incremental borrowing rates currently available on loans with similar terms and maturities. | |
Price risk. The Company is exposed to price fluctuations primarily as a result of anticipated purchases of raw and packaging materials, fuel, and energy. The Company has historically used the combination of long-term contracts with suppliers, and exchange-traded futures and option contracts to reduce price fluctuations in a desired percentage of forecasted raw material purchases over a duration of generally less than 18 months. | |
Certain commodity contracts are accounted for as cash flow hedges, while others are marked to market through earnings. The assessment of effectiveness for exchange-traded instruments is based on changes in futures prices. The assessment of effectiveness for over-the-counter transactions is based on changes in designated indices. | |
Pension benefits, nonpension postretirement and postemployment benefits [Policy Text Block] | ' |
Pension benefits, nonpension postretirement and postemployment benefits | |
The Company sponsors a number of U.S. and foreign plans to provide pension, health care, and other welfare benefits to retired employees, as well as salary continuance, severance, and long-term disability to former or inactive employees. | |
The recognition of benefit expense is based on actuarial assumptions, such as discount rate, long-term rate of compensation increase, long-term rate of return on plan assets and health care cost trend rate, and is reported in COGS and SGA expense on the Consolidated Statement of Income. | |
Postemployment benefits. The Company recognizes an obligation for postemployment benefit plans that vest or accumulate with service. Obligations associated with the Company's postemployment benefit plans, which are unfunded, are included in other current liabilities and other liabilities on the Consolidated Balance Sheet. All gains and losses are recognized over the average remaining service period of active plan participants. | |
Postemployment benefits that do not vest or accumulate with service or benefits to employees in excess of those specified in the respective plans are expensed as incurred. | |
Pension and nonpension postretirement benefits. The Company recognizes actuarial gains and losses in operating results in the year in which they occur. Experience gains and losses are recognized annually as of the measurement date, which is the Company's fiscal year-end, or when remeasurement is otherwise required under generally accepted accounting principles. The Company uses the fair value of plan assets to calculate the expected return on plan assets. | |
Reportable segments are allocated service cost and amortization of prior service cost. All other components of pension and postretirement benefit expense, including interest cost, expected return on assets, and experience gains and losses are considered unallocated corporate costs and are not included in the measure of reportable segment operating results. See Note 16 for more information on reportable segments. | |
Management reviews the Company's expected long-term rates of return annually; however, the benefit trust investment performance for one particular year does not, by itself, significantly influence this evaluation. The expected rates of return are generally not revised provided these rates fall between the 25th and 75th percentile of expected long-term returns, as determined by the Company's modeling process. | |
For defined benefit pension and postretirement plans, the Company records the net overfunded or underfunded position as a pension asset or pension liability on the Consolidated Balance Sheet. | |
New accounting standards [Policy Text Block] | ' |
New accounting standards | |
Reporting of amounts reclassified out of Accumulated Other Comprehensive Income. In February 2013, the Financial Accounting Standards Board (FASB) issued an updated accounting standard requiring entities to present information about reclassifications out of accumulated other comprehensive income in a single note or on the face of the financial statements. The Company adopted the updated standard in 2013. | |
Indefinite-lived intangible asset impairment testing. In July 2012, the FASB issued an updated accounting standard to allow entities the option to first assess qualitative factors to determine whether it is necessary to perform the quantitative indefinite-lived intangible asset impairment test. Under the updated standard an entity would not be required to perform the quantitative impairment test unless the entity determines, based on a qualitative assessment, that it is more likely than not that an indefinite-lived intangible asset is impaired. The Company adopted the revised guidance in 2013, with no impact to the Consolidated Financial Statements. | |
Presentation of Comprehensive Income. In June 2011, the Financial Accounting Standards Board (FASB) issued a new accounting standard requiring most entities to present items of net income and other comprehensive income either in one continuous statement — referred to as the statement of comprehensive income — or in two separate, but consecutive, statements of net income and comprehensive income. The update does not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income. The Company adopted this new standard in 2012. | |
Goodwill impairment testing. In September 2011, the FASB issued an updated accounting standard to allow entities the option to first assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. Under the updated standard an entity would not be required to calculate the fair value of a reporting unit unless the entity determines, based on a qualitative assessment, that it is more likely than not that its fair value is less than its carrying amount. The Company adopted the revised guidance in 2012, with no impact to the Consolidated Financial Statements. | |
Multiemployer pension and postretirement benefit plans. In September 2011, the FASB issued an updated accounting standard to provide more information about an employer's financial obligations to multiemployer pension and postretirement benefit plans. Previously, employers were only required to disclose their total contributions to all multiemployer plans in which they participate and certain year-to-year changes in circumstances. The enhanced disclosures required under the revised guidance provide additional information regarding the overall financial health of the plan and the level of the employer's participation in the plan. The Company adopted the revised guidance in 2012. Refer to Note 10 for disclosures regarding multiemployer plans in which the Company participates. | |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 28, 2013 | ||||||||||||||||||||||||
Acquisitions, Goodwill and Other Intangible Assets [Abstract] | ' | |||||||||||||||||||||||
Schedule of final acquired assets and assumed liabilities [Table Text Block] | ' | |||||||||||||||||||||||
(millions) | 31-May-12 | |||||||||||||||||||||||
Accounts receivable, net | $ | 128 | ||||||||||||||||||||||
Inventories | 103 | |||||||||||||||||||||||
Other prepaid assets | 18 | |||||||||||||||||||||||
Property | 317 | |||||||||||||||||||||||
Goodwill | 1,319 | |||||||||||||||||||||||
Other intangibles: | ||||||||||||||||||||||||
Definite-lived intangible assets | 79 | |||||||||||||||||||||||
Brand | 776 | |||||||||||||||||||||||
Other assets: | ||||||||||||||||||||||||
Deferred income taxes | 23 | |||||||||||||||||||||||
Other | 16 | |||||||||||||||||||||||
Notes payable | -3 | |||||||||||||||||||||||
Accounts payable | -9 | |||||||||||||||||||||||
Other current liabilities | -24 | |||||||||||||||||||||||
Other liabilities | -75 | |||||||||||||||||||||||
$ | 2,668 | |||||||||||||||||||||||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | |||||||||||||||||||||||
(millions, except per share data) | 2012 | 2011 | ||||||||||||||||||||||
Net sales | $ | 14,862 | $ | 14,722 | ||||||||||||||||||||
Net income | $ | 1,001 | $ | 954 | ||||||||||||||||||||
Net income (loss) attributable to noncontrolling interests | - | -2 | ||||||||||||||||||||||
Net income attributable to Kellogg Company | $ | 1,001 | $ | 956 | ||||||||||||||||||||
Net earnings per share | $ | 2.78 | $ | 2.63 | ||||||||||||||||||||
Schedule of Carrying Amount of Goodwill [Table Text Block] | ' | |||||||||||||||||||||||
Changes in the carrying amount of goodwill | ||||||||||||||||||||||||
U.S. | North | |||||||||||||||||||||||
Morning | U.S. | U.S. | America | Latin | Asia | Consoli- | ||||||||||||||||||
(millions) | Foods | Snacks | Specialty | Other | Europe | America | Pacific | dated | ||||||||||||||||
31-Dec-11 | $ | 80 | $ | 3,257 | $ | - | $ | 202 | $ | 57 | $ | - | $ | 27 | $ | 3,623 | ||||||||
Pringles goodwill | 53 | 434 | 82 | 77 | 356 | 88 | 216 | 1,306 | ||||||||||||||||
Other goodwill | - | 76 | - | - | - | - | - | 76 | ||||||||||||||||
Currency translation adjustment | - | - | - | 1 | 25 | 4 | 3 | 33 | ||||||||||||||||
29-Dec-12 | $ | 133 | $ | 3,767 | $ | 82 | $ | 280 | $ | 438 | $ | 92 | $ | 246 | $ | 5,038 | ||||||||
Pringles goodwill | - | - | - | - | 10 | - | 3 | 13 | ||||||||||||||||
Other goodwill | - | 12 | - | - | - | - | - | 12 | ||||||||||||||||
Currency translation adjustment | - | - | - | -2 | 4 | -3 | -11 | -12 | ||||||||||||||||
28-Dec-13 | $ | 133 | $ | 3,779 | $ | 82 | $ | 278 | $ | 452 | $ | 89 | $ | 238 | $ | 5,051 | ||||||||
Schedule of Intangible Assets Subject to Amortization [Table Text Block] | ' | |||||||||||||||||||||||
Intangible assets subject to amortization | ||||||||||||||||||||||||
(millions) | ||||||||||||||||||||||||
U.S. | North | |||||||||||||||||||||||
Morning | U.S. | U.S. | America | Latin | Asia | Consoli- | ||||||||||||||||||
Gross carrying amount | Foods | Snacks | Specialty | Other | Europe | America | Pacific | dated | ||||||||||||||||
31-Dec-11 | $ | 28 | $ | 18 | $ | - | $ | 5 | $ | 2 | $ | 7 | $ | - | $ | 60 | ||||||||
Pringles customer relationships | - | 30 | - | - | 39 | - | 10 | 79 | ||||||||||||||||
Other intangible assets | - | 22 | - | - | - | - | - | 22 | ||||||||||||||||
Currency translation adjustment | - | - | - | - | 2 | - | - | 2 | ||||||||||||||||
29-Dec-12 | $ | 28 | $ | 70 | $ | - | $ | 5 | $ | 43 | $ | 7 | $ | 10 | $ | 163 | ||||||||
Currency translation adjustment | - | - | - | - | 1 | - | - | 1 | ||||||||||||||||
28-Dec-13 | $ | 28 | $ | 70 | $ | - | $ | 5 | $ | 44 | $ | 7 | $ | 10 | $ | 164 | ||||||||
Accumulated Amortization | ||||||||||||||||||||||||
31-Dec-11 | $ | 28 | $ | 9 | $ | - | $ | 3 | $ | 2 | $ | 7 | $ | - | $ | 49 | ||||||||
Amortization | - | 3 | - | - | 1 | - | - | 4 | ||||||||||||||||
29-Dec-12 | $ | 28 | $ | 12 | $ | - | $ | 3 | $ | 3 | $ | 7 | $ | - | $ | 53 | ||||||||
Amortization | - | 4 | - | 1 | 3 | - | 1 | 9 | ||||||||||||||||
28-Dec-13 | $ | 28 | $ | 16 | $ | - | $ | 4 | $ | 6 | $ | 7 | $ | 1 | $ | 62 | ||||||||
Intangible assets subject to amortization, net | ||||||||||||||||||||||||
31-Dec-11 | $ | - | $ | 9 | $ | - | $ | 2 | $ | - | $ | - | $ | - | $ | 11 | ||||||||
Pringles customer relationships | - | 30 | - | - | 39 | - | 10 | 79 | ||||||||||||||||
Other intangible assets | - | 22 | - | - | - | - | - | 22 | ||||||||||||||||
Amortization | - | -3 | - | - | -1 | - | - | -4 | ||||||||||||||||
Currency translation adjustment | - | - | - | - | 2 | - | - | 2 | ||||||||||||||||
29-Dec-12 | $ | - | $ | 58 | $ | - | $ | 2 | $ | 40 | $ | - | $ | 10 | $ | 110 | ||||||||
Amortization (a) | - | -4 | - | -1 | -3 | - | -1 | -9 | ||||||||||||||||
Currency translation adjustment | - | - | - | - | 1 | - | - | 1 | ||||||||||||||||
28-Dec-13 | $ | - | $ | 54 | $ | - | $ | 1 | $ | 38 | $ | - | $ | 9 | $ | 102 | ||||||||
(a) The currently estimated aggregate amortization expense for each of the next five succeeding fiscal periods is approximately $9 million per year. | ||||||||||||||||||||||||
Schedule of Intangible Assets not Subject to Amortization [Table Text Block] | ' | |||||||||||||||||||||||
Intangible assets not subject to amortization | ||||||||||||||||||||||||
U.S. | North | |||||||||||||||||||||||
Morning | U.S. | U.S. | America | Latin | Asia | Consoli- | ||||||||||||||||||
(millions) | Foods | Snacks | Specialty | Other | Europe | America | Pacific | dated | ||||||||||||||||
31-Dec-11 | $ | 63 | $ | 1,285 | $ | - | $ | 95 | $ | - | $ | - | $ | - | $ | 1,443 | ||||||||
Pringles brand | - | 340 | - | - | 436 | - | - | 776 | ||||||||||||||||
Currency translation adjustment | - | - | - | - | 30 | - | - | 30 | ||||||||||||||||
29-Dec-12 | $ | 63 | $ | 1,625 | $ | - | $ | 95 | $ | 466 | $ | - | $ | - | $ | 2,249 | ||||||||
Currency translation adjustment | - | - | - | - | 16 | - | - | 16 | ||||||||||||||||
28-Dec-13 | $ | 63 | $ | 1,625 | $ | - | $ | 95 | $ | 482 | $ | - | $ | - | $ | 2,265 | ||||||||
Exit_or_Disposal_Activities_Ta
Exit or Disposal Activities (Tables) | 12 Months Ended | ||||||||||
Dec. 28, 2013 | |||||||||||
Exit or Disposal Activities [Abstract] | ' | ||||||||||
Schedule of Restructuring and Related Costs [Text Block] | ' | ||||||||||
Program costs to date | |||||||||||
(millions) | 2013 | 2012 | 2011 | 28-Dec-13 | |||||||
Employee related costs | $ | 7 | $ | - | $ | 18 | $ | 38 | |||
Asset related costs | 4 | 4 | 4 | 8 | |||||||
Asset impairment | 4 | 17 | - | 21 | |||||||
Other costs | 27 | 35 | 39 | 76 | |||||||
Total | $ | 42 | $ | 56 | $ | 61 | $ | 143 | |||
Program costs to date | |||||||||||
(millions) | 2013 | 2012 | 2011 | 28-Dec-13 | |||||||
U.S. Morning Foods | $ | 9 | $ | 16 | $ | 11 | $ | 21 | |||
U.S. Snacks | 11 | 10 | 24 | 47 | |||||||
U.S. Specialty | 2 | 1 | 1 | 6 | |||||||
North America Other | 2 | 6 | 6 | 4 | |||||||
Europe | 8 | 3 | 16 | 37 | |||||||
Latin America | 1 | 2 | 1 | 2 | |||||||
Asia Pacific | 8 | 18 | 2 | 26 | |||||||
Corporate | 1 | - | - | - | |||||||
Total | $ | 42 | $ | 56 | $ | 61 | $ | 143 | |||
Project K | |||||||||||
(millions) | 2013 | ||||||||||
Employee related costs | $ | 107 | |||||||||
Asset related costs | 6 | ||||||||||
Asset impairment | 66 | ||||||||||
Other costs | 29 | ||||||||||
Total | $ | 208 | |||||||||
(millions) | 2013 | ||||||||||
U.S. Morning Foods | $ | 100 | |||||||||
U.S. Snacks | 19 | ||||||||||
U.S. Specialty | 3 | ||||||||||
North America Other | 9 | ||||||||||
Europe | 19 | ||||||||||
Latin America | 4 | ||||||||||
Asia Pacific | 24 | ||||||||||
Corporate | 30 | ||||||||||
Total | $ | 208 | |||||||||
Schedule of Restructuring Reserve by Type of Cost [Text Block] | ' | ||||||||||
Employee Related | Asset | Asset Related | Other | ||||||||
Costs | Impairment | Costs | Costs | Total | |||||||
Liability as of December 29, 2012 | $ | - | $ | - | $ | - | $ | - | $ | - | |
2013 restructuring charges | 107 | 66 | 6 | 29 | 208 | ||||||
Cash payments | -7 | - | -1 | -17 | -25 | ||||||
Non-cash charges and other (a) | -35 | -66 | -5 | - | -106 | ||||||
Liability as of December 28, 2013 | $ | 65 | $ | - | $ | - | $ | 12 | $ | 77 | |
(a) Employee related non-cash charges consist of pension curtailment expense. |
Equity_Tables
Equity (Tables) | 12 Months Ended | ||||||||
Dec. 28, 2013 | |||||||||
Equity [Abstract] | ' | ||||||||
Earnings per Share [Table Text Block] | ' | ||||||||
Net income | Average | ||||||||
attributable to | shares | Earnings | |||||||
(millions, except per share data) | Kellogg Company | outstanding | per share | ||||||
2013 | |||||||||
Basic | $ | 1,807 | 363 | $ | 4.98 | ||||
Dilutive potential common shares | 2 | -0.04 | |||||||
Diluted | $ | 1,807 | 365 | $ | 4.94 | ||||
2012 | |||||||||
Basic | $ | 961 | 358 | $ | 2.68 | ||||
Dilutive potential common shares | 2 | -0.01 | |||||||
Diluted | $ | 961 | 360 | $ | 2.67 | ||||
2011 | |||||||||
Basic | $ | 866 | 362 | $ | 2.39 | ||||
Dilutive potential common shares | 2 | -0.01 | |||||||
Diluted | $ | 866 | 364 | $ | 2.38 | ||||
Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||
Accumulated other comprehensive income (loss) as of December 28, 2013 and December 29, 2012 consisted of the following: | |||||||||
December 28, | December 29, | ||||||||
(millions) | 2013 | 2012 | |||||||
Foreign currency translation adjustments | $ | -856 | $ | -832 | |||||
Cash flow hedges — unrealized net gain (loss) | 1 | -3 | |||||||
Postretirement and postemployment benefits: | |||||||||
Net experience loss | -15 | -29 | |||||||
Prior service cost | -66 | -82 | |||||||
Total accumulated other comprehensive income (loss) | $ | -936 | $ | -946 | |||||
Reclassification Out Of Other Accumulated Comprehensive Other Income [Table Text Block] | ' | ||||||||
Reclassifications out of Accumulated Other Comprehensive Income (AOCI) for the year ended December 28, 2013 consisted of the following: | |||||||||
(millions) | |||||||||
Details about AOCI | Amount reclassified | Line item impacted | |||||||
components | from AOCI | within Income Statement | |||||||
Gains and losses on cash flow hedges: | |||||||||
Foreign currency exchange contracts | $ | -10 | COGS | ||||||
Foreign currency exchange contracts | -2 | SGA | |||||||
Interest rate contracts | -4 | Interest expense | |||||||
Commodity contracts | 10 | COGS | |||||||
$ | -6 | Total before tax | |||||||
- | Tax (expense) benefit | ||||||||
$ | -6 | Net of tax | |||||||
Amortization of postretirement and postemployment benefits: | |||||||||
Net experience loss | $ | 5 | See Notes 8 and 9 for further details | ||||||
Prior service cost | 13 | See Notes 8 and 9 for further details | |||||||
$ | 18 | Total before tax | |||||||
-6 | Tax (expense) benefit | ||||||||
$ | 12 | Net of tax | |||||||
Total reclassifications | $ | 6 | Net of tax | ||||||
Leases_and_Other_Commitments_T
Leases and Other Commitments (Tables) | 12 Months Ended | |||||
Dec. 28, 2013 | ||||||
Leases [Abstract] | ' | |||||
Operating leases and capital leases [Table Text Block] | ' | |||||
Operating | Capital | |||||
(millions) | leases | leases | ||||
2014 | $ | 172 | $ | 1 | ||
2015 | 145 | 1 | ||||
2016 | 119 | 1 | ||||
2017 | 85 | 1 | ||||
2018 | 71 | 1 | ||||
2019 and beyond | 81 | 2 | ||||
Total minimum payments | $ | 673 | $ | 7 | ||
Amount representing interest | -1 | |||||
Obligations under capital leases | 6 | |||||
Obligations due within one year | -1 | |||||
Long-term obligations under capital leases | $ | 5 |
Debt_Tables
Debt (Tables) | 12 Months Ended | |||||||||||||
Dec. 28, 2013 | ||||||||||||||
Debt [Abstract] | ' | |||||||||||||
Components of Notes Payable [Table Text Block] | ' | |||||||||||||
(millions) | 2013 | 2012 | ||||||||||||
Principal amount | Effective interest rate | Principal amount | Effective interest rate | |||||||||||
U.S. commercial paper | $ | 249 | 0.22 | % | $ | 853 | 0.26 | % | ||||||
Europe commercial paper | 437 | 0.23 | 159 | 0.18 | ||||||||||
Bank borrowings | 53 | 53 | ||||||||||||
Total | $ | 739 | $ | 1,065 | ||||||||||
Long-term debt schedule [Table Text Block] | ' | |||||||||||||
(millions) | 2013 | 2012 | ||||||||||||
(a) | 7.45% U.S. Dollar Debentures due 2031 | $ | 1,089 | $ | 1,091 | |||||||||
(b) | 4.0% U.S. Dollar Notes due 2020 | 974 | 993 | |||||||||||
(c) | 4.45% U.S. Dollar Notes due 2016 | 767 | 772 | |||||||||||
(d) | 3.125% U.S. Dollar Debentures due 2022 | 682 | 694 | |||||||||||
(e) | 1.875% U.S. Dollar Notes due 2016 | 505 | 509 | |||||||||||
(f) | 4.15% U.S. Dollar Notes due 2019 | 488 | 513 | |||||||||||
(g) | 3.25% U.S. Dollar Notes due 2018 | 411 | 420 | |||||||||||
(h) | 2.75% U.S. Dollar Notes due 2023 | 398 | - | |||||||||||
(i) | 1.75% U.S. Dollar Notes due 2017 | 395 | 398 | |||||||||||
(j) | 1.125% U.S. Dollar Notes due 2015 | 350 | 350 | |||||||||||
(k) | 2.10% Canadian Dollar Notes 2014 | 282 | 302 | |||||||||||
(l) | Floating-rate U.S. Dollar Notes due 2015 | 250 | - | |||||||||||
(m) | 4.25% U.S. Dollar Notes due 2013 | - | 754 | |||||||||||
Other | 28 | 41 | ||||||||||||
6,619 | 6,837 | |||||||||||||
Less current maturities | -289 | -755 | ||||||||||||
Balance at year end | $ | 6,330 | $ | 6,082 | ||||||||||
Stock_Compensation_Tables
Stock Compensation (Tables) | 12 Months Ended | ||||||||||
Dec. 28, 2013 | |||||||||||
Stock Compensation [Abstract] | ' | ||||||||||
Schedule of Compensation Expense for Equity Programs and Related Tax Benefits [Table Text Block] | ' | ||||||||||
(millions) | 2013 | 2012 | 2011 | ||||||||
Pre-tax compensation expense | $ | 38 | $ | 46 | $ | 37 | |||||
Related income tax benefit | $ | 14 | $ | 17 | $ | 13 | |||||
Schedule of cash and tax benefits received upon exercise of stock options and similiar instruments [Table Text Block] | ' | ||||||||||
(millions) | 2013 | 2012 | 2011 | ||||||||
Total cash received from option exercises and similar instruments | $ | 475 | $ | 229 | $ | 291 | |||||
Tax benefits realized upon exercise or vesting of stock-based awards: | |||||||||||
Windfall benefits classified as financing cash flow | $ | 24 | $ | 6 | $ | 11 | |||||
Schedule of stock option valuation model assumptions for grants [Table Text Block] | ' | ||||||||||
Stock option valuation model assumptions | 2013 | 2012 | 2011 | ||||||||
for grants within the year ended: | |||||||||||
Weighted-average expected volatility | 15 | % | 16 | % | 17 | % | |||||
Weighted-average expected term (years) | 7.44 | 7.53 | 6.99 | ||||||||
Weighted-average risk-free interest rate | 1.49 | % | 1.6 | % | 3.06 | % | |||||
Dividend yield | 2.9 | % | 3.3 | % | 3.1 | % | |||||
Weighted-average fair value of options granted | $ | 5.92 | $ | 5.23 | $ | 7.59 | |||||
Summary of Share-based Compensation [Table Text Block] | ' | ||||||||||
Weighted- | |||||||||||
Weighted- | average | Aggregate | |||||||||
average | remaining | intrinsic | |||||||||
Shares | exercise | contractual | value | ||||||||
Employee and director stock options | (millions) | price | term (yrs.) | (millions) | |||||||
Outstanding, beginning of period | 25 | $ | 50 | ||||||||
Granted | 6 | 60 | |||||||||
Exercised | -10 | 48 | |||||||||
Forfeitures and expirations | -1 | 55 | |||||||||
Outstanding, end of period | 20 | $ | 54 | 7 | $ | 143 | |||||
Exercisable, end of period | 9 | $ | 50 | 5.4 | $ | 101 | |||||
Additionally, option activity for the comparable prior year periods is presented in the following table: | |||||||||||
(millions, except per share data) | 2012 | 2011 | |||||||||
Outstanding, beginning of year | 24 | 26 | |||||||||
Granted | 6 | 5 | |||||||||
Exercised | -4 | -6 | |||||||||
Forfeitures and expirations | -1 | -1 | |||||||||
Outstanding, end of year | 25 | 24 | |||||||||
Exercisable, end of year | 14 | 16 | |||||||||
Weighted-average exercise price: | |||||||||||
Outstanding, beginning of year | $ | 48 | $ | 47 | |||||||
Granted | 52 | 53 | |||||||||
Exercised | 44 | 45 | |||||||||
Forfeitures and expirations | 53 | 52 | |||||||||
Outstanding, end of year | $ | 50 | $ | 48 | |||||||
Exercisable, end of year | $ | 48 | $ | 47 | |||||||
Summary of restricted stock activity [Table Text Block] | ' | ||||||||||
Weighted- average | |||||||||||
Employee restricted stock | Shares | grant-date | |||||||||
and restricted stock units | (thousands) | fair value | |||||||||
Non-vested, beginning of year | 316 | $ | 50 | ||||||||
Granted | 139 | 52 | |||||||||
Vested | -117 | 51 | |||||||||
Forfeited | -20 | 47 | |||||||||
Non-vested, end of year | 318 | $ | 52 |
Pension_Benefits_Tables
Pension Benefits (Tables) (Pension [Member]) | 12 Months Ended | ||||||||||||
Dec. 28, 2013 | |||||||||||||
Pension [Member] | ' | ||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||
Components of Company Plan Benefit Expense [Table Text Block] | ' | ||||||||||||
(millions) | 2013 | 2012 | |||||||||||
Change in projected benefit obligation | |||||||||||||
Beginning of year | $ | 5,135 | $ | 4,367 | |||||||||
Service cost | 133 | 110 | |||||||||||
Interest cost | 203 | 207 | |||||||||||
Plan participants' contributions | 2 | 2 | |||||||||||
Amendments | 4 | 23 | |||||||||||
Actuarial (gain)loss | -407 | 535 | |||||||||||
Benefits paid | -218 | -213 | |||||||||||
Acquisitions | 17 | 47 | |||||||||||
Curtailment and special termination benefits | 26 | - | |||||||||||
Foreign currency adjustments | -7 | 57 | |||||||||||
End of year | $ | 4,888 | $ | 5,135 | |||||||||
Change in plan assets | |||||||||||||
Fair value beginning of year | $ | 4,374 | $ | 3,931 | |||||||||
Actual return on plan assets | 802 | 508 | |||||||||||
Employer contributions | 34 | 38 | |||||||||||
Plan participants' contributions | 2 | 2 | |||||||||||
Benefits paid | -200 | -187 | |||||||||||
Acquisitions | - | 23 | |||||||||||
Foreign currency adjustments | 2 | 59 | |||||||||||
Fair value end of year | $ | 5,014 | $ | 4,374 | |||||||||
Funded status | $ | 126 | $ | -761 | |||||||||
Amounts recognized in the Consolidated | |||||||||||||
Balance Sheet consist of | |||||||||||||
Other assets | $ | 419 | $ | 145 | |||||||||
Other current liabilities | -16 | -20 | |||||||||||
Other liabilities | -277 | -886 | |||||||||||
Net amount recognized | $ | 126 | $ | -761 | |||||||||
Amounts recognized in accumulated other | |||||||||||||
comprehensive income consist of | |||||||||||||
Prior service cost | $ | 73 | $ | 94 | |||||||||
Net amount recognized | $ | 73 | $ | 94 | |||||||||
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | ' | ||||||||||||
(millions) | 2013 | 2012 | |||||||||||
Projected benefit obligation | $ | 327 | $ | 3,707 | |||||||||
Accumulated benefit obligation | $ | 251 | $ | 3,442 | |||||||||
Fair value of plan assets | $ | 58 | $ | 2,823 | |||||||||
Schedule of Net Benefit Costs [Table Text Block] | ' | ||||||||||||
(millions) | 2013 | 2012 | 2011 | ||||||||||
Service cost | $ | 133 | $ | 110 | $ | 96 | |||||||
Interest cost | 203 | 207 | 209 | ||||||||||
Expected return on plan assets | -359 | -344 | -361 | ||||||||||
Amortization of unrecognized | |||||||||||||
prior service cost | 16 | 14 | 14 | ||||||||||
Recognized net (gain)loss | -854 | 372 | 747 | ||||||||||
Curtailment and special termination benefits | 34 | - | - | ||||||||||
Pension (income)expense: | |||||||||||||
Defined benefit plans | -827 | 359 | 705 | ||||||||||
Defined contribution plans | 35 | 29 | 35 | ||||||||||
Total | $ | -792 | $ | 388 | $ | 740 | |||||||
Schedule of Assumptions Used [Table Text Block] | ' | ||||||||||||
Assumptions | |||||||||||||
The worldwide weighted-average actuarial assumptions used to determine benefit obligations were: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Discount rate | 4.70% | 4.00% | 4.80% | ||||||||||
Long-term rate of compensation increase | 4.10% | 4.10% | 4.20% | ||||||||||
The worldwide weighted-average actuarial assumptions used to determine annual net periodic benefit cost were: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Discount rate | 4.10% | 4.80% | 5.40% | ||||||||||
Long-term rate of compensation increase | 4.10% | 4.20% | 4.20% | ||||||||||
Long-term rate of return on plan assets | 8.50% | 8.90% | 8.90% | ||||||||||
Schedule of Allocation of Plan Assets [Table Text Block] | ' | ||||||||||||
Total | Total | Total | |||||||||||
(millions) | Level 1 | Level 2 | Level 3 | Total | |||||||||
Cash and cash equivalents | $ | 28 | $ | 83 | $ | - | $ | 111 | |||||
Corporate stock, common: | |||||||||||||
Domestic | 576 | - | - | 576 | |||||||||
International | 297 | - | - | 297 | |||||||||
Mutual funds: | |||||||||||||
International equity | - | 726 | - | 726 | |||||||||
International debt | - | 54 | - | 54 | |||||||||
Collective trusts: | |||||||||||||
Domestic equity | - | 737 | - | 737 | |||||||||
International equity | - | 982 | - | 982 | |||||||||
Eurozone sovereign debt | - | 14 | - | 14 | |||||||||
Other international debt | - | 288 | - | 288 | |||||||||
Limited partnerships | - | 468 | - | 468 | |||||||||
Bonds, corporate | - | 370 | 1 | 371 | |||||||||
Bonds, government | - | 123 | - | 123 | |||||||||
Bonds, other | - | 52 | - | 52 | |||||||||
Real estate | - | - | 125 | 125 | |||||||||
Other | - | 82 | 8 | 90 | |||||||||
Total | $ | 901 | $ | 3,979 | $ | 134 | $ | 5,014 | |||||
The fair value of Plan assets at December 29, 2012 are summarized as follows: | |||||||||||||
Total | Total | Total | |||||||||||
(millions) | Level 1 | Level 2 | Level 3 | Total | |||||||||
Cash and cash equivalents | $ | 29 | $ | 32 | $ | - | $ | 61 | |||||
Corporate stock, common: | |||||||||||||
Domestic | 466 | - | - | 466 | |||||||||
International | 259 | - | - | 259 | |||||||||
Mutual funds: | |||||||||||||
International equity | - | 717 | - | 717 | |||||||||
International debt | - | 58 | - | 58 | |||||||||
Collective trusts: | |||||||||||||
Domestic equity | - | 535 | - | 535 | |||||||||
International equity | - | 920 | - | 920 | |||||||||
Eurozone sovereign debt | - | 17 | - | 17 | |||||||||
Other international debt | - | 274 | - | 274 | |||||||||
Limited partnerships | - | 275 | - | 275 | |||||||||
Bonds, corporate | - | 441 | - | 441 | |||||||||
Bonds, government | - | 150 | - | 150 | |||||||||
Bonds, other | - | 66 | - | 66 | |||||||||
Real estate | - | - | 115 | 115 | |||||||||
Other | 4 | 7 | 9 | 20 | |||||||||
Total | $ | 758 | $ | 3,492 | $ | 124 | $ | 4,374 | |||||
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block] | ' | ||||||||||||
(millions) | Bonds, corporate | Real estate | Other | Total | |||||||||
31-Dec-11 | $ | 1 | $ | 105 | $ | 6 | $ | 112 | |||||
Purchases | - | - | 1 | 1 | |||||||||
Sales | -1 | - | - | -1 | |||||||||
Realized and unrealized gain | - | 6 | 2 | 8 | |||||||||
Transfer out | - | 4 | - | 4 | |||||||||
29-Dec-12 | $ | - | $ | 115 | $ | 9 | $ | 124 | |||||
Purchases | 1 | 1 | 1 | 3 | |||||||||
Sales | - | - | -1 | -1 | |||||||||
Realized and unrealized gain | - | 8 | - | 8 | |||||||||
Currency translation | - | 1 | -1 | - | |||||||||
28-Dec-13 | $ | 1 | $ | 125 | $ | 8 | $ | 134 |
Nonpension_Postretirement_and_1
Nonpension Postretirement and Postemployment Benefits (Tables) | 12 Months Ended | ||||||||||||
Dec. 28, 2013 | |||||||||||||
Nonpension Postretirement [Member] | ' | ||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||
Components of Company plan benefit expense [Table Text Block] | ' | ||||||||||||
(millions) | 2013 | 2012 | |||||||||||
Change in accumulated benefit obligation | |||||||||||||
Beginning of year | $ | 1,323 | $ | 1,155 | |||||||||
Service cost | 34 | 27 | |||||||||||
Interest cost | 50 | 53 | |||||||||||
Actuarial (gain) loss | -145 | 115 | |||||||||||
Benefits paid | -56 | -62 | |||||||||||
Curtailments | 1 | - | |||||||||||
Acquisitions | - | 34 | |||||||||||
Foreign currency adjustments | -5 | 1 | |||||||||||
End of year | $ | 1,202 | $ | 1,323 | |||||||||
Change in plan assets | |||||||||||||
Fair value beginning of year | $ | 1,040 | $ | 965 | |||||||||
Actual return on plan assets | 188 | 132 | |||||||||||
Employer contributions | 14 | 13 | |||||||||||
Benefits paid | -64 | -70 | |||||||||||
Fair value end of year | $ | 1,178 | $ | 1,040 | |||||||||
Funded status | $ | -24 | $ | -283 | |||||||||
Amounts recognized in the Consolidated | |||||||||||||
Balance Sheet consist of | |||||||||||||
Other non-current assets | $ | 47 | $ | - | |||||||||
Other current liabilities | -3 | -2 | |||||||||||
Other liabilities | -68 | -281 | |||||||||||
Net amount recognized | $ | -24 | $ | -283 | |||||||||
Amounts recognized in accumulated other | |||||||||||||
comprehensive income consist of | |||||||||||||
Prior service credit | -1 | -3 | |||||||||||
Net amount recognized | $ | -1 | $ | -3 | |||||||||
Schedule of Net Benefit Costs [Table Text Block] | ' | ||||||||||||
Expense | |||||||||||||
Components of postretirement benefit expense (income) were: | |||||||||||||
(millions) | 2013 | 2012 | 2011 | ||||||||||
Service cost | $ | 34 | $ | 27 | $ | 23 | |||||||
Interest cost | 50 | 53 | 62 | ||||||||||
Expected return on plan assets | -86 | -84 | -87 | ||||||||||
Amortization of unrecognized prior service credit | -3 | -2 | -3 | ||||||||||
Recognized net (gain) loss | -247 | 66 | -16 | ||||||||||
Curtailment | 1 | - | - | ||||||||||
Postretirement benefit expense: | |||||||||||||
Defined benefit plans | -251 | 60 | -21 | ||||||||||
Defined contribution plans | 13 | 13 | 14 | ||||||||||
Total | $ | -238 | $ | 73 | $ | -7 | |||||||
Schedule of Assumptions Used [Table Text Block] | ' | ||||||||||||
Assumptions | |||||||||||||
The weighted-average actuarial assumptions used to determine benefit obligations were: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Discount rate | 4.8 | % | 3.9 | % | 4.6 | % | |||||||
The weighted-average actuarial assumptions used to determine annual net periodic benefit cost were: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Discount rate | 3.9 | % | 4.6 | % | 5.3 | % | |||||||
Long-term rate of return on plan assets | 8.5 | % | 8.9 | % | 8.9 | % | |||||||
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block] | ' | ||||||||||||
One percentage | One percentage | ||||||||||||
(millions) | point increase | point decrease | |||||||||||
Effect on total of service and interest cost components | $ | 11 | $ | -9 | |||||||||
Effect on postretirement benefit obligation | 132 | -110 | |||||||||||
Schedule of Allocation of Plan Assets [Table Text Block] | ' | ||||||||||||
Total | Total | Total | |||||||||||
(millions) | Level 1 | Level 2 | Level 3 | Total | |||||||||
Cash and cash equivalents | $ | 7 | $ | 39 | $ | - | $ | 46 | |||||
Corporate stock, common: | |||||||||||||
Domestic | 231 | - | - | 231 | |||||||||
International | 15 | - | - | 15 | |||||||||
Mutual funds: | |||||||||||||
Domestic equity | - | 167 | - | 167 | |||||||||
International equity | - | 124 | - | 124 | |||||||||
Domestic debt | - | 57 | - | 57 | |||||||||
Collective trusts: | |||||||||||||
Domestic equity | - | 14 | - | 14 | |||||||||
International equity | - | 169 | - | 169 | |||||||||
Limited partnerships | - | 169 | - | 169 | |||||||||
Bonds, corporate | - | 130 | - | 130 | |||||||||
Bonds, government | - | 39 | - | 39 | |||||||||
Bonds, other | - | 16 | - | 16 | |||||||||
Other | - | 1 | - | 1 | |||||||||
Total | $ | 253 | $ | 925 | $ | - | $ | 1,178 | |||||
Total | Total | Total | |||||||||||
(millions) | Level 1 | Level 2 | Level 3 | Total | |||||||||
Cash and cash equivalents | $ | 5 | $ | 12 | $ | - | $ | 17 | |||||
Corporate stock, common: | |||||||||||||
Domestic | 174 | - | - | 174 | |||||||||
International | 18 | - | - | 18 | |||||||||
Mutual funds: | |||||||||||||
Domestic equity | - | 63 | - | 63 | |||||||||
International equity | - | 161 | - | 161 | |||||||||
Domestic debt | - | 60 | - | 60 | |||||||||
Collective trusts: | |||||||||||||
Domestic equity | - | 126 | - | 126 | |||||||||
International equity | - | 110 | - | 110 | |||||||||
Limited partnerships | - | 101 | - | 101 | |||||||||
Bonds, corporate | - | 142 | - | 142 | |||||||||
Bonds, government | - | 49 | - | 49 | |||||||||
Bonds, other | - | 17 | - | 17 | |||||||||
Other | 2 | - | - | 2 | |||||||||
Total | $ | 199 | $ | 841 | $ | - | $ | 1,040 | |||||
Postemployment [Member] | ' | ||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||
Components of Company plan benefit expense [Table Text Block] | ' | ||||||||||||
(millions) | 2013 | 2012 | |||||||||||
Change in accumulated benefit obligation | |||||||||||||
Beginning of year | $ | 103 | $ | 93 | |||||||||
Service cost | 7 | 7 | |||||||||||
Interest cost | 3 | 4 | |||||||||||
Actuarial (gain)loss | -17 | 7 | |||||||||||
Benefits paid | -9 | -8 | |||||||||||
End of year | $ | 87 | $ | 103 | |||||||||
Funded status | $ | -87 | $ | -103 | |||||||||
Amounts recognized in the Consolidated | |||||||||||||
Balance Sheet consist of | |||||||||||||
Other current liabilities | $ | -8 | $ | -10 | |||||||||
Other liabilities | -79 | -93 | |||||||||||
Net amount recognized | $ | -87 | $ | -103 | |||||||||
Amounts recognized in accumulated other | |||||||||||||
comprehensive income consist of | |||||||||||||
Net experience loss | $ | 25 | $ | 46 | |||||||||
Net amount recognized | $ | 25 | $ | 46 | |||||||||
Schedule of Net Benefit Costs [Table Text Block] | ' | ||||||||||||
Components of postemployment benefit expense were: | |||||||||||||
(millions) | 2013 | 2012 | 2011 | ||||||||||
Service cost | $ | 7 | $ | 7 | $ | 6 | |||||||
Interest cost | 3 | 4 | 4 | ||||||||||
Recognized net loss | 5 | 5 | 5 | ||||||||||
Postemployment benefit expense | $ | 15 | $ | 16 | $ | 15 | |||||||
Schedule of Expected Benefit Payments [Table Text Block] | ' | ||||||||||||
(millions) | Postretirement | Postemployment | |||||||||||
2014 | $ | 68 | $ | 8 | |||||||||
2015 | 69 | 8 | |||||||||||
2016 | 70 | 7 | |||||||||||
2017 | 71 | 8 | |||||||||||
2018 | 72 | 8 | |||||||||||
2019-2023 | 385 | 41 |
Multiemployer_Pension_and_Post1
Multiemployer Pension and Postretirement Plans (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 28, 2013 | |||||||||||||||||||
Multiemployer Plans [Abstract] | ' | ||||||||||||||||||
Schedule of Multiemployer Plans [Table Text Block] | ' | ||||||||||||||||||
PPA Zone Status | FIP/RP Status | Contributions by the Company (millions) | |||||||||||||||||
Pension trust fund | EIN/PN | 2013 | 2012 | Pending/ Implemented | 2013 | 2012 | 2011 | Surcharge Imposed | Expiration Date of CBA | ||||||||||
Bakery and Confectionary Union and Industry International Pension Fund (a) | 52-6118572 / 001 | Red - 12/31/2013 | Red - 12/31/2012 | Implemented | $5.20 | $4.80 | $4.30 | Yes | 10/31/2015 to 4/30/2017 | ||||||||||
Central States, Southeast and Southwest Areas Pension Fund (b) | 36-6044243 / 001 | Red - 12/31/2013 | Red - 12/31/2012 | Implemented | 4.5 | 4.3 | 4.1 | Yes | 3/31/2014 to 12/31/2016 | ||||||||||
Western Conference of Teamsters Pension Trust ( c ) | 91-6145047 / 001 | Green - 12/31/2013 | Green - 12/31/2012 | N/A | 1.5 | 1.3 | 1.2 | No | 1/31/2015 to 3/29/2018 | ||||||||||
Hagerstown Motor Carriers and Teamsters Pension Fund | 52-6045424 / 001 | Red - 6/30/2014 | Red - 6/30/2013 | Implemented | 0.5 | 0.4 | 0.4 | No | 10/3/15 | ||||||||||
Local 734 Pension Plan | 51-6040136 / 001 | Red - 4/30/2014 | Red - 4/30/2013 | Implemented | 0.3 | 0.3 | 0.3 | Yes | 4/1/15 | ||||||||||
Twin Cities Bakery Drivers Pension Plan | 41-6172265 / 001 | Red - 12/31/2013 | Red - 12/31/2012 | Implemented | 0.2 | 0.2 | 0.2 | Yes | 5/31/15 | ||||||||||
Upstate New York Bakery Drivers and Industry Pension Fund | 15-0612437 / 001 | Green - 6/30/2013 | Green - 6/30/2012 | NA | 0.1 | 0.1 | 0.1 | No | 9/7/14 | ||||||||||
Other Plans | 2.2 | 2.1 | 2 | ||||||||||||||||
Total contributions: | $14.50 | $13.50 | $12.60 | ||||||||||||||||
(a) The Company is party to multiple CBAs requiring contributions to this fund, each with its own expiration date. Over 70 percent of the Company's participants in this fund are covered by a single CBA that expires on 4/30/2017. Another CBA, covering 15% of the Company's participants in this fund, expired in 2013 and is currently under negotiation. | |||||||||||||||||||
(b) The Company is party to multiple CBAs requiring contributions to this fund, each with its own expiration date. Over 40 percent of the Company's participants in this fund are covered by a single CBA that expires on 7/27/2014. | |||||||||||||||||||
(c) The Company is party to multiple CBAs requiring contributions to this fund, each with its own expiration date. Over 40 percent of the Company's participants in this fund are covered by a single CBA that expires on 3/24/2018. | |||||||||||||||||||
Schedule Of Pension Contributions Exceeding Five Percent Of Total Contributions [Table Text Block] | ' | ||||||||||||||||||
The Company was listed in the Forms 5500 of the following plans as of the following plan year ends as providing more than 5 percent of total contributions: | |||||||||||||||||||
Pension trust fund | Contributions to the plan exceeded more than 5% of total contributions (as of the Plan's year end) | ||||||||||||||||||
Hagerstown Motor Carriers and Teamsters Pension Fund | 6/30/2013, 6/30/2012 and 6/30/2011 | ||||||||||||||||||
Local 734 Pension Plan | 4/30/2013 and 4/30/2012 | ||||||||||||||||||
Twin Cities Bakery Drivers Pension Plan | 12/31/2012, 12/31/2011 and 12/31/2010 | ||||||||||||||||||
Upstate New York Bakery Drivers and Industry Pension Fund | 6/30/2013 and 6/30/2012 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 28, 2013 | ||||||||||||||||||
Income Taxes [Abstract] | ' | |||||||||||||||||
Schedule of Components of Income before Income Taxes and Provision for Income Taxes [Table Text Block] | ' | |||||||||||||||||
(millions) | 2013 | 2012 | 2011 | |||||||||||||||
Income before income taxes | ||||||||||||||||||
United States | $ | 2,102 | $ | 1,008 | $ | 935 | ||||||||||||
Foreign | 504 | 317 | 249 | |||||||||||||||
2,606 | 1,325 | 1,184 | ||||||||||||||||
Income taxes | ||||||||||||||||||
Currently payable | ||||||||||||||||||
Federal | 302 | 383 | 285 | |||||||||||||||
State | 68 | 34 | 26 | |||||||||||||||
Foreign | 105 | 105 | 108 | |||||||||||||||
475 | 522 | 419 | ||||||||||||||||
Deferred | ||||||||||||||||||
Federal | 331 | -129 | -57 | |||||||||||||||
State | -2 | 8 | 3 | |||||||||||||||
Foreign | -12 | -38 | -45 | |||||||||||||||
317 | -159 | -99 | ||||||||||||||||
Total income taxes | $ | 792 | $ | 363 | $ | 320 | ||||||||||||
Schedule of Effective Tax Rate Reconciliation [Table Text Block] | ' | |||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
U.S. statutory income tax rate | 35 | % | 35 | % | 35 | % | ||||||||||||
Foreign rates varying from 35% | -3.5 | -4.4 | -4.9 | |||||||||||||||
State income taxes, net of federal benefit | 1.7 | 2.1 | 1.6 | |||||||||||||||
Cost (benefit) of remitted and unremitted foreign earnings | -0.4 | -1.8 | -1.8 | |||||||||||||||
Tax audit activity | -0.1 | 0 | -0.5 | |||||||||||||||
Net change in valuation allowances | 0.4 | 0.8 | 0.9 | |||||||||||||||
Statutory rate changes, deferred tax impact | -0.5 | -0.3 | -0.5 | |||||||||||||||
U.S. deduction for qualified production activities | -0.9 | -2.1 | -1.8 | |||||||||||||||
Other | -1.3 | -1.9 | -1 | |||||||||||||||
Effective income tax rate | 30.4 | % | 27.4 | % | 27 | % | ||||||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | |||||||||||||||||
Deferred tax assets | Deferred tax liabilities | |||||||||||||||||
(millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
U.S. state income taxes | $ | 13 | $ | 7 | $ | 61 | $ | 63 | ||||||||||
Advertising and promotion-related | 23 | 23 | - | - | ||||||||||||||
Wages and payroll taxes | 36 | 26 | - | - | ||||||||||||||
Inventory valuation | 37 | 22 | - | - | ||||||||||||||
Employee benefits | 65 | 426 | - | - | ||||||||||||||
Operating loss and credit carryforwards | 55 | 61 | - | - | ||||||||||||||
Hedging transactions | 10 | 2 | - | - | ||||||||||||||
Depreciation and asset disposals | - | - | 366 | 386 | ||||||||||||||
Trademarks and other intangibles | - | - | 529 | 496 | ||||||||||||||
Deferred compensation | 36 | 39 | - | - | ||||||||||||||
Stock options | 36 | 51 | - | - | ||||||||||||||
Unremitted foreign earnings | - | - | 2 | 5 | ||||||||||||||
Other | 109 | 90 | - | - | ||||||||||||||
420 | 747 | 958 | 950 | |||||||||||||||
Less valuation allowance | -61 | -59 | - | - | ||||||||||||||
Total deferred taxes | $ | 359 | $ | 688 | $ | 958 | $ | 950 | ||||||||||
Net deferred tax asset (liability) | $ | -599 | $ | -262 | ||||||||||||||
Classified in balance sheet as: | ||||||||||||||||||
Other current assets | $ | 195 | $ | 159 | ||||||||||||||
Other current liabilities | -13 | -8 | ||||||||||||||||
Other assets | 147 | 110 | ||||||||||||||||
Other liabilities | -928 | -523 | ||||||||||||||||
Net deferred tax asset (liability) | $ | -599 | $ | -262 | ||||||||||||||
Schedule of Change in Valuation Allowance [Table Text Block] | ' | |||||||||||||||||
(millions) | 2013 | 2012 | 2011 | |||||||||||||||
Balance at beginning of year | $ | 59 | $ | 46 | $ | 36 | ||||||||||||
Additions charged to income tax expense | 17 | 12 | 12 | |||||||||||||||
Reductions credited to income tax expense | -3 | - | -1 | |||||||||||||||
Other (a) | -10 | - | - | |||||||||||||||
Currency translation adjustments | -2 | 1 | -1 | |||||||||||||||
Balance at end of year | $ | 61 | $ | 59 | $ | 46 | ||||||||||||
(a) | Reduction due to the disposition of a business resulting in deferred tax asset and valuation allowance being eliminated. | |||||||||||||||||
Reconciliation of Total Gross Unrecognized Tax Benefits [Table Text Block] | ' | |||||||||||||||||
(millions) | 2013 | 2012 | 2011 | |||||||||||||||
Balance at beginning of year | $ | 80 | $ | 66 | $ | 104 | ||||||||||||
Tax positions related to current year: | ||||||||||||||||||
Additions | 9 | 8 | 7 | |||||||||||||||
Tax positions related to prior years: | ||||||||||||||||||
Additions | 17 | 14 | 8 | |||||||||||||||
Reductions | -13 | -4 | -19 | |||||||||||||||
Settlements | -14 | -1 | -27 | |||||||||||||||
Lapses in statutes of limitation | - | -3 | -7 | |||||||||||||||
Balance at end of year | $ | 79 | $ | 80 | $ | 66 | ||||||||||||
Derivative_Instruments_and_Fai1
Derivative Instruments and Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 28, 2013 | |||||||||||||||||||||
Derivative Instruments and Fair Value Measurements [Abstract] | ' | ||||||||||||||||||||
Schedule of Total Notional Amounts of the Company's Derivative Instruments [Table Text Block] | ' | ||||||||||||||||||||
(millions) | 2013 | 2012 | |||||||||||||||||||
Foreign currency exchange contracts | $ | 517 | $ | 570 | |||||||||||||||||
Interest rate contracts | 2,400 | 2,150 | |||||||||||||||||||
Commodity contracts | 361 | 320 | |||||||||||||||||||
Total | $ | 3,278 | $ | 3,040 | |||||||||||||||||
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis [Table Text Block] | ' | ||||||||||||||||||||
The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheet on a recurring basis as of December 28, 2013 and December 29, 2012: | |||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
(millions) | Level 1 | Level 2 | Total | Level 1 | Level 2 | Total | |||||||||||||||
Assets: | |||||||||||||||||||||
Foreign currency exchange contracts: | |||||||||||||||||||||
Other current assets | $ | - | $ | 7 | $ | 7 | $ | - | $ | 4 | $ | 4 | |||||||||
Interest rate contracts (a): | |||||||||||||||||||||
Other assets | - | - | - | - | 64 | 64 | |||||||||||||||
Total assets | $ | - | $ | 7 | $ | 7 | $ | - | $ | 68 | $ | 68 | |||||||||
Liabilities: | |||||||||||||||||||||
Foreign currency exchange contracts: | |||||||||||||||||||||
Other current liabilities | $ | - | $ | -8 | $ | -8 | $ | - | $ | -3 | $ | -3 | |||||||||
Interest rate contracts: | |||||||||||||||||||||
Other liabilities | - | -59 | -59 | - | - | - | |||||||||||||||
Commodity contracts: | |||||||||||||||||||||
Other current liabilities | - | -9 | -9 | - | -11 | -11 | |||||||||||||||
Other liabilities | - | -19 | -19 | - | -27 | -27 | |||||||||||||||
Total liabilities | $ | - | $ | -95 | $ | -95 | $ | - | $ | -41 | $ | -41 | |||||||||
(a) | The fair value of the related hedged portion of the Company's long-term debt, a level 2 liability, was $2.5 billion as of December 28, 2013 and $2.3 billion as of December 29, 2012: | ||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
(millions) | Level 1 | Level 2 | Total | Level 1 | Level 2 | Total | |||||||||||||||
Assets: | |||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||
Other current assets | $ | 3 | $ | - | $ | 3 | $ | 5 | $ | - | $ | 5 | |||||||||
Total assets | $ | 3 | $ | - | $ | 3 | $ | 5 | $ | - | $ | 5 | |||||||||
Liabilities: | |||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||
Other current liabilities | $ | -7 | $ | - | $ | -7 | $ | -3 | $ | - | $ | -3 | |||||||||
Total liabilities | $ | -7 | $ | - | $ | -7 | $ | -3 | $ | - | $ | -3 | |||||||||
Schedule of the Effect of Derivative Instruments on the Consolidated Statement of Income [Table Text Block] | ' | ||||||||||||||||||||
The effect of derivative instruments on the Consolidated Statement of Income for the years ended December 28, 2013 and December 29, 2012 were as follows: | |||||||||||||||||||||
Derivatives in fair value hedging relationships | |||||||||||||||||||||
Location of gain | Gain (loss) | ||||||||||||||||||||
(loss) recognized | recognized in | ||||||||||||||||||||
(millions) | in income | income (a) | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Foreign currency exchange contracts | OIE | $ | 2 | $ | -1 | ||||||||||||||||
Interest rate contracts | Interest expense | -5 | 5 | ||||||||||||||||||
Total | $ | -3 | $ | 4 | |||||||||||||||||
(a) | Includes the ineffective portion and amount excluded from effectiveness testing. | ||||||||||||||||||||
Derivatives in cash flow hedging relationships | |||||||||||||||||||||
Location of gain | Gain (loss) | Location of gain | |||||||||||||||||||
Gain (loss) | (loss) reclassified | reclassified from | (loss) recognized | Gain (loss) | |||||||||||||||||
(millions) | recognized in AOCI | from AOCI | AOCI into income | in income (a) | recognized in income(a) | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Foreign currency exchange contracts | $ | 13 | $ | - | COGS | $ | 10 | $ | -1 | OIE | $ | - | $ | - | |||||||
Foreign currency exchange contracts | -2 | 1 | SGA expense | 2 | 2 | OIE | - | - | |||||||||||||
Interest rate contracts | - | - | Interest expense | 4 | 4 | N/A | - | - | |||||||||||||
Commodity contracts | - | -6 | COGS | -10 | -19 | OIE | - | - | |||||||||||||
Total | $ | 11 | $ | -5 | $ | 6 | $ | -14 | $ | - | $ | - | |||||||||
(a) | Includes the ineffective portion and amount excluded from effectiveness testing. | ||||||||||||||||||||
Derivatives in net investment hedging relationships | |||||||||||||||||||||
Gain (loss) | |||||||||||||||||||||
(millions) | recognized in AOCI | ||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Foreign currency exchange contracts | $ | - | $ | 5 | |||||||||||||||||
Total | $ | - | $ | 5 | |||||||||||||||||
Derivatives not designated as hedging instruments | |||||||||||||||||||||
Location of gain | Gain (loss) | ||||||||||||||||||||
(loss) recognized | recognized in | ||||||||||||||||||||
(millions) | in income | income | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Foreign currency exchange contracts | OIE | $ | 3 | $ | - | ||||||||||||||||
Interest rate contracts | Interest expense | - | -1 | ||||||||||||||||||
Commodity contracts | COGS | -37 | -10 | ||||||||||||||||||
Total | $ | -34 | $ | -11 | |||||||||||||||||
Schedule of Assets Measured on a Non-Recurring Basis [Table Text Block] | ' | ||||||||||||||||||||
The following table presents level 3 assets that were measured at fair value on the Consolidated Balance Sheet on a nonrecurring basis as of December 28, 2013: | |||||||||||||||||||||
(millions) | Fair Value | Total Loss | |||||||||||||||||||
Description: | |||||||||||||||||||||
Long-lived assets | $ | 38 | $ | -70 | |||||||||||||||||
Total | $ | 38 | $ | -70 | |||||||||||||||||
The following table presents level 3 assets that were measured at fair value on the Consolidated Balance Sheet on a nonrecurring basis as of December 29, 2012: | |||||||||||||||||||||
(millions) | Fair Value | Total Loss | |||||||||||||||||||
Description: | |||||||||||||||||||||
Long-lived assets | $ | 11 | $ | -17 | |||||||||||||||||
Total | $ | 11 | $ | -17 | |||||||||||||||||
Schedule of Fair Value of Long-term Debt [Table Text Block] | ' | ||||||||||||||||||||
(millions) | Fair Value | Carrying Value | |||||||||||||||||||
Current maturities of long-term debt | $ | 289 | $ | 289 | |||||||||||||||||
Long-term debt | 6,715 | 6,330 | |||||||||||||||||||
Total | $ | 7,004 | $ | 6,619 |
Product_Recall_Tables
Product Recall (Tables) | 12 Months Ended | |||
Dec. 28, 2013 | ||||
Product Recall [Abstract] | ' | |||
Schedule of Product Recall Charges [Table Text Block] | ' | |||
(millions, except per share amount) | 2012 | |||
Reduction of net sales | $ | 14 | ||
COGS | 12 | |||
Total | $ | 26 | ||
Impact on earnings per diluted share | $ | -0.05 | ||
Quarterly_Financial_Data_unaud1
Quarterly Financial Data (unaudited) (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 28, 2013 | ||||||||||||||||||||
Quarterly Financial Data [Abstract] | ' | |||||||||||||||||||
Schedule of quarterly financial data, net sales and gross profit [Table Text Block] | ' | |||||||||||||||||||
Net sales | Gross profit | |||||||||||||||||||
(millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||
First | $ | 3,861 | $ | 3,440 | $ | 1,393 | $ | 1,353 | ||||||||||||
Second | 3,714 | 3,474 | 1,477 | 1,439 | ||||||||||||||||
Third | 3,716 | 3,720 | 1,450 | 1,466 | ||||||||||||||||
Fourth | 3,501 | 3,563 | 1,783 | 1,176 | ||||||||||||||||
$ | 14,792 | $ | 14,197 | $ | 6,103 | $ | 5,434 | |||||||||||||
Schedule of quarterly financial data, net income and earnings per share [Table Text Block] | ' | |||||||||||||||||||
Net income attributable to Kellogg Company | Per share amounts | |||||||||||||||||||
(millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Basic | Diluted | Basic | Diluted | |||||||||||||||||
First | $ | 311 | $ | 351 | $ | 0.86 | $ | 0.85 | $ | 0.98 | $ | 0.98 | ||||||||
Second | 352 | 324 | 0.96 | 0.96 | 0.91 | 0.9 | ||||||||||||||
Third | 326 | 318 | 0.9 | 0.9 | 0.89 | 0.89 | ||||||||||||||
Fourth | 818 | -32 | 2.26 | 2.24 | -0.09 | -0.09 | ||||||||||||||
$ | 1,807 | $ | 961 | |||||||||||||||||
Schedule of quarterly financial data, dividends per share and stock prices [Table Text Block] | ' | |||||||||||||||||||
Dividends paid per share and the quarterly price ranges on the NYSE during the last two years were: | ||||||||||||||||||||
Dividend | Stock price | |||||||||||||||||||
2013 - Quarter | per share | High | Low | |||||||||||||||||
First | $ | 0.44 | $ | 64.75 | $ | 55.02 | ||||||||||||||
Second | 0.44 | 66.84 | 61.03 | |||||||||||||||||
Third | 0.46 | 67.98 | 58.59 | |||||||||||||||||
Fourth | 0.46 | 64.92 | 58.01 | |||||||||||||||||
$ | 1.8 | |||||||||||||||||||
2012 - Quarter | ||||||||||||||||||||
First | $ | 0.43 | $ | 53.86 | $ | 49.07 | ||||||||||||||
Second | 0.43 | 54.2 | 47.88 | |||||||||||||||||
Third | 0.44 | 52.15 | 46.33 | |||||||||||||||||
Fourth | 0.44 | 57.21 | 51.27 | |||||||||||||||||
$ | 1.74 | |||||||||||||||||||
Schedule Of Quarterly Financial Data, Charges Gain In Operating Profit [Table Text Block] | ' | |||||||||||||||||||
2013 | ||||||||||||||||||||
(millions) | First | Second | Third | Fourth | Full Year | |||||||||||||||
Asset impairment and exit costs | $ | 13 | $ | 7 | $ | 27 | $ | 203 | $ | 250 | ||||||||||
(Gains) / losses on mark-to-market adjustments | 54 | 7 | -2 | -1,006 | -947 | |||||||||||||||
$ | 67 | $ | 14 | $ | 25 | $ | -803 | $ | -697 | |||||||||||
During 2012, the Company recorded the following charges / (gains) in operating profit: | ||||||||||||||||||||
2012 | ||||||||||||||||||||
(millions) | First | Second | Third | Fourth | Full Year | |||||||||||||||
Asset impairment and exit costs | $ | 9 | $ | 9 | $ | 11 | $ | 27 | $ | 56 | ||||||||||
(Gains) / losses on mark-to-market adjustments | 50 | - | - | 402 | 452 | |||||||||||||||
$ | 59 | $ | 9 | $ | 11 | $ | 429 | $ | 508 | |||||||||||
Reportable_Segments_Tables
Reportable Segments (Tables) | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Reportable Segments [Abstract] | ' | |||||||||||
Schedule of Selected Operating Segment Information [Table Text Block] | ' | |||||||||||
(millions) | 2013 | 2012 | 2011 | |||||||||
Net sales | ||||||||||||
U.S. Morning Foods | $ | 3,465 | $ | 3,533 | $ | 3,450 | ||||||
U.S. Snacks | 3,534 | 3,400 | 3,044 | |||||||||
U.S. Specialty | 1,202 | 1,121 | 1,008 | |||||||||
North America Other | 1,515 | 1,485 | 1,371 | |||||||||
Europe | 2,860 | 2,527 | 2,334 | |||||||||
Latin America | 1,195 | 1,121 | 1,049 | |||||||||
Asia Pacific | 1,021 | 1,010 | 942 | |||||||||
Consolidated | $ | 14,792 | $ | 14,197 | $ | 13,198 | ||||||
Operating profit | ||||||||||||
U.S. Morning Foods | $ | 485 | $ | 588 | $ | 609 | ||||||
U.S. Snacks | 447 | 476 | 439 | |||||||||
U.S. Specialty | 265 | 241 | 231 | |||||||||
North America Other | 275 | 265 | 250 | |||||||||
Europe | 256 | 261 | 302 | |||||||||
Latin America | 157 | 167 | 176 | |||||||||
Asia Pacific | 60 | 85 | 104 | |||||||||
Total Reportable Segments | 1,945 | 2,083 | 2,111 | |||||||||
Corporate | 892 | -521 | -684 | |||||||||
Consolidated | $ | 2,837 | $ | 1,562 | $ | 1,427 | ||||||
Depreciation and amortization (a) | ||||||||||||
U.S. Morning Foods | $ | 181 | $ | 132 | $ | 130 | ||||||
U.S. Snacks | 144 | 123 | 92 | |||||||||
U.S. Specialty | 8 | 5 | 5 | |||||||||
North America Other | 30 | 34 | 30 | |||||||||
Europe | 84 | 66 | 57 | |||||||||
Latin America | 29 | 26 | 20 | |||||||||
Asia Pacific | 40 | 55 | 27 | |||||||||
Total Reportable Segments | 516 | 441 | 361 | |||||||||
Corporate | 16 | 7 | 8 | |||||||||
Consolidated | $ | 532 | $ | 448 | $ | 369 | ||||||
(a) | Includes asset impairment charges as discussed in Note 12. | |||||||||||
Schedule of Interest Expense and Income Tax Expense by Segment [Table Text Block] | ' | |||||||||||
(millions) | 2013 | 2012 | 2011 | |||||||||
Interest expense | ||||||||||||
North America Other | $ | 6 | $ | 4 | $ | 0 | ||||||
Europe | 6 | 4 | 4 | |||||||||
Latin America | 1 | 4 | 6 | |||||||||
Asia Pacific | 3 | 4 | 2 | |||||||||
Corporate | 219 | 245 | 221 | |||||||||
Consolidated | $ | 235 | $ | 261 | $ | 233 | ||||||
Income taxes | ||||||||||||
Europe | $ | 4 | $ | -21 | $ | 31 | ||||||
Latin America | 35 | 36 | 49 | |||||||||
Asia Pacific | 6 | 9 | 21 | |||||||||
Corporate & North America | 747 | 339 | 219 | |||||||||
Consolidated | $ | 792 | $ | 363 | $ | 320 | ||||||
Schedule of Total Assets and Additions to Long-Lived Assets by Segment [Table Text Block] | ' | |||||||||||
(millions) | 2013 | 2012 | 2011 | |||||||||
Total assets | ||||||||||||
North America | $ | 10,643 | $ | 10,602 | $ | 9,128 | ||||||
Europe | 3,007 | 3,014 | 1,584 | |||||||||
Latin America | 1,052 | 861 | 798 | |||||||||
Asia Pacific | 1,049 | 1,107 | 529 | |||||||||
Corporate | 2,583 | 3,384 | 2,317 | |||||||||
Elimination entries | -2,860 | -3,799 | -2,413 | |||||||||
Consolidated | $ | 15,474 | $ | 15,169 | $ | 11,943 | ||||||
Additions to long-lived assets | ||||||||||||
North America | $ | 296 | $ | 549 | $ | 421 | ||||||
Europe | 182 | 209 | 61 | |||||||||
Latin America | 70 | 40 | 53 | |||||||||
Asia Pacific | 85 | 79 | 54 | |||||||||
Corporate | 4 | 14 | 5 | |||||||||
Consolidated | $ | 637 | $ | 891 | $ | 594 | ||||||
Schedule of Net Sales and Long-Lived Assets by Segment [Table Text Block] | ' | |||||||||||
(millions) | 2013 | 2012 | 2011 | |||||||||
Net sales | ||||||||||||
United States | $ | 9,060 | $ | 8,875 | $ | 8,239 | ||||||
All other countries | 5,732 | 5,322 | 4,959 | |||||||||
Consolidated | $ | 14,792 | $ | 14,197 | $ | 13,198 | ||||||
Long-lived assets | ||||||||||||
United States | $ | 2,343 | $ | 2,427 | $ | 2,151 | ||||||
All other countries | 1,513 | 1,355 | 1,130 | |||||||||
Consolidated | $ | 3,856 | $ | 3,782 | $ | 3,281 | ||||||
Schedule of Supplemental Product Information by Segment [Table Text Block] | ' | |||||||||||
(millions) | 2013 | 2012 | 2011 | |||||||||
Retail channel cereal | $ | 6,451 | $ | 6,652 | $ | 6,730 | ||||||
Retail channel snacks | 6,625 | 5,891 | 4,949 | |||||||||
Frozen and specialty channels | 1,716 | 1,654 | 1,519 | |||||||||
Consolidated | $ | 14,792 | $ | 14,197 | $ | 13,198 | ||||||
Supplemental_Financial_Stateme1
Supplemental Financial Statement Data (Tables) | 12 Months Ended | ||||||||
Dec. 28, 2013 | |||||||||
Supplemental Financial Statement Data [Abstract] | ' | ||||||||
Supplemental financial data, consolidated statement of income [Table Text Block] | ' | ||||||||
Consolidated Statement of Income | |||||||||
(millions) | 2013 | 2012 | 2011 | ||||||
Research and development expense | $ | 199 | $ | 206 | $ | 192 | |||
Advertising expense | $ | 1,131 | $ | 1,120 | $ | 1,138 | |||
Supplemental financial data, consolidated balance sheet [Table Text Block] | ' | ||||||||
Consolidated Balance Sheet | 2013 | 2012 | |||||||
(millions) | |||||||||
Trade receivables | $ | 1,231 | $ | 1,185 | |||||
Allowance for doubtful accounts | -5 | -6 | |||||||
Refundable income taxes | 52 | 68 | |||||||
Other receivables | 146 | 207 | |||||||
Accounts receivable, net | $ | 1,424 | $ | 1,454 | |||||
Raw materials and supplies | $ | 319 | $ | 300 | |||||
Finished goods and materials in process | 929 | 1,065 | |||||||
Inventories | $ | 1,248 | $ | 1,365 | |||||
Deferred income taxes | $ | 195 | $ | 152 | |||||
Other prepaid assets | 127 | 128 | |||||||
Other current assets | $ | 322 | $ | 280 | |||||
Land | $ | 125 | $ | 117 | |||||
Buildings | 2,155 | 2,084 | |||||||
Machinery and equipment | 6,059 | 5,978 | |||||||
Capitalized software | 325 | 279 | |||||||
Construction in progress | 693 | 533 | |||||||
Accumulated depreciation | -5,501 | -5,209 | |||||||
Property, net | $ | 3,856 | $ | 3,782 | |||||
Other intangibles | $ | 2,429 | $ | 2,412 | |||||
Accumulated amortization | -62 | -53 | |||||||
Other intangibles, net | $ | 2,367 | $ | 2,359 | |||||
Pension | $ | 419 | $ | 145 | |||||
Other | 514 | 465 | |||||||
Other assets | $ | 933 | $ | 610 | |||||
Accrued income taxes | $ | 69 | $ | 46 | |||||
Accrued salaries and wages | 327 | 266 | |||||||
Accrued advertising and promotion | 476 | 517 | |||||||
Other | 503 | 472 | |||||||
Other current liabilities | $ | 1,375 | $ | 1,301 | |||||
Nonpension postretirement benefits | $ | 68 | $ | 281 | |||||
Other | 429 | 409 | |||||||
Other liabilities | $ | 497 | $ | 690 | |||||
Supplemental financial data, allowance for doubtful accounts [Table Text Block] | ' | ||||||||
Allowance for doubtful accounts | 2013 | 2012 | 2011 | ||||||
(millions) | |||||||||
Balance at beginning of year | $ | 6 | $ | 8 | $ | 10 | |||
Additions charged to expense | 2 | 1 | - | ||||||
Doubtful accounts charged to reserve | -3 | -3 | -2 | ||||||
Balance at end of year | $ | 5 | $ | 6 | $ | 8 | |||
Accounting_Policies_Narrative_
Accounting Policies (Narrative) (Details) | 12 Months Ended |
Dec. 28, 2013 | |
Foreign currency contracts and options mature, within months | '18 months |
Long-term supplier contracts, exchange-traded futures and option contracts mature, within months | '18 months |
Likelihood of being ultimately realized upon settlement | 50.00% |
Minimum [Member] | ' |
Expected rates of return | '25th percentile |
Maximum [Member] | ' |
Expected rates of return | '75th percentile |
Machinery and Equipment [Member] | Minimum [Member] | ' |
Useful life | '5 years |
Machinery and Equipment [Member] | Maximum [Member] | ' |
Useful life | '30 years |
Office Equipment [Member] | Minimum [Member] | ' |
Useful life | '4 years |
Office Equipment [Member] | Maximum [Member] | ' |
Useful life | '5 years |
Building [Member] | ' |
Useful life | '50 years |
Computer Equipment and Capitalized Software [Member] | Minimum [Member] | ' |
Useful life | '3 years |
Computer Equipment and Capitalized Software [Member] | Maximum [Member] | ' |
Useful life | '7 years |
Building Improvements [Member] | Minimum [Member] | ' |
Useful life | '15 years |
Building Improvements [Member] | Maximum [Member] | ' |
Useful life | '25 years |
Acquisitions_Goodwill_and_Othe
Acquisitions, Goodwill and Other Intangible Assets (Narrative) (Details) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||
In Millions, unless otherwise specified | 31-May-12 | Dec. 31, 2012 | Sep. 28, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Sep. 28, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Sep. 28, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | 31-May-12 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | |
Variable Interest Entity, Primary Beneficiary [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Europe [Member] | Europe [Member] | Europe [Member] | Europe [Member] | Asia Pacific [Member] | Asia Pacific [Member] | Asia Pacific [Member] | Asia Pacific [Member] | Cost of Goods Sold [Member] | Selling, General and Administrative Expense [Member] | Net Sales [Member] | Pringles [Member] | Pringles [Member] | Pringles [Member] | Pringles [Member] | Pringles [Member] | Pringles [Member] | Pringles [Member] | Pringles [Member] | Pringles [Member] | Pringles [Member] | ||||||||
Europe [Member] | Europe [Member] | Asia Pacific [Member] | Asia Pacific [Member] | Cost of Goods Sold [Member] | Selling, General and Administrative Expense [Member] | Other Income (Expense), Net [Member] | ||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Cost Of Acquired Entity Purchase Price | $2,695 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Purchase price net of cash and cash equivalents, subject to purchase price adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,683 | ' | ' | ' | ' | ' | ' | ' | |
Purchase price adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15 | ' | ' | ' | ' | ' | ' | ' | ' | |
Purchase price net of cash and cash equivalents, including purchase price adjustments | 2,668 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,668 | ' | ' | ' | ' | ' | ' | ' | ' | |
Other comprehensive income foreign currency translation component | ' | 15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Other non current liabilities purchase price allocation adjustment | ' | ' | 15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Non-current deferred tax assets purchase price allocation adjustment | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Goodwill expected to be deductible for statutory tax purposes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 645 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Transaction fees and integration-related costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15 | 46 | 5 | ' | ' | ' | ' | ' | ' | ' | 3 | 73 | 5 | |
Net revenues contributed by Pringles acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,658 | 887 | ' | ' | ' | ' | ' | ' | ' | ' | |
Net earnings contributed by Pringles acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 132 | 31 | ' | ' | ' | ' | ' | ' | ' | ' | |
Goodwill, Acquired During Period | ' | ' | 13 | ' | ' | ' | ' | ' | 10 | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | 13 | 1,306 | ' | 10 | 356 | 3 | 216 | ' | ' | ' | |
Variable Interest Entity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Convertible loan | ' | ' | ' | ' | ' | ' | ' | 44 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Percentage Of Loan Convertible To Equity | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Assets, Current | ' | ' | ' | 3,267 | 3,380 | ' | ' | 14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Property, net | ' | ' | ' | 3,856 | 3,782 | 3,281 | 35 | 36 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Intagibles And Other Non Current Assets | ' | ' | ' | ' | ' | ' | ' | 26 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Goodwill | ' | ' | ' | 5,051 | 5,038 | [1] | 3,623 | 12 | 76 | ' | 452 | 438 | 57 | ' | 238 | 246 | 27 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Liabilities, Current | ' | ' | ' | 3,835 | 4,523 | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Long-term Debt | ' | ' | ' | 6,619 | 6,837 | ' | 30 | 39 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Deferred income tax liabilities | ' | ' | ' | 928 | 523 | ' | 12 | 8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Noncontrolling interests | ' | ' | ' | $62 | $61 | ' | ' | $59 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
[1] | *December 29, 2012 balances have been revised as discussed in Note 2 to the financial statements. |
Acquisitions_Goodwill_and_Othe1
Acquisitions, Goodwill and Other Intangible Assets (Final Acquired Assets and Assumed Liabilities) (Details) (USD $) | 31-May-12 |
In Millions, unless otherwise specified | |
Business Acquisition Final Purchase Price Allocation [Abstract] | ' |
Accounts receivable, net | $128 |
Inventories | 103 |
Other prepaid assets | 18 |
Property | 317 |
Goodwill | 1,319 |
Other intangibles [Abstract] | ' |
Definite-lived intangible assets | 79 |
Brand | 776 |
Other Assets [Abstract] | ' |
Deferred income taxes | 23 |
Other | 16 |
Notes payable | 3 |
Accounts payable | 9 |
Other current liabilities | 24 |
Other liabilities | 75 |
Total | $2,668 |
Acquisitions_Goodwill_and_Othe2
Acquisitions, Goodwill and Other Intangible Assets (Pro Forma Information) (Details) (USD $) | 12 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Dec. 29, 2012 | Dec. 31, 2011 |
Business Acquisition, Pro Forma Information [Abstract] | ' | ' |
Net sales | $14,862 | $14,722 |
Net income | 1,001 | 954 |
Net income (loss) attributable to noncontrolling interests | 0 | -2 |
Net income attributable to Kellogg Company | $1,001 | $956 |
Net earnings per share | $2.78 | $2.63 |
Acquisitions_Goodwill_and_Othe3
Acquisitions, Goodwill and Other Intangible Assets (Intangible Assets Subject to Amortization) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Gross carrying amount, beginning balance | $163 | $60 | |
Currency translation adjustment | 1 | 2 | |
Gross carrying amount, ending balance | 164 | 163 | |
Accumulated amortization, beginning balance | 53 | 49 | |
Amortization expense | 9 | [1] | 4 |
Accumulated amortization, ending balance | 62 | 53 | |
Intangible assets subject to amortization net, beginning balance | 110 | 11 | |
Amortization expense | -9 | [1] | -4 |
Currency translation adjustment, Net | 1 | 2 | |
Intangible assets subject to amortization net, ending balance | 102 | 110 | |
FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract | ' | ' | |
Estimated aggregate annual amortization expense for next twelve months | 9 | ' | |
Estimated aggregate annual amortization expense for year two | 9 | ' | |
Estimated aggregate annual amortization expense for year three | 9 | ' | |
Estimated aggregate annual amortization expense for year four | 9 | ' | |
Estimated aggregate annual amortization expense for year five | 8 | ' | |
U.S. Morning Foods [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Gross carrying amount, beginning balance | 28 | 28 | |
Currency translation adjustment | 0 | 0 | |
Gross carrying amount, ending balance | 28 | 28 | |
Accumulated amortization, beginning balance | 28 | 28 | |
Amortization expense | 0 | [1] | 0 |
Accumulated amortization, ending balance | 28 | 28 | |
Intangible assets subject to amortization net, beginning balance | 0 | 0 | |
Amortization expense | 0 | [1] | 0 |
Currency translation adjustment, Net | 0 | 0 | |
Intangible assets subject to amortization net, ending balance | 0 | 0 | |
U.S. Snacks [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Gross carrying amount, beginning balance | 70 | 18 | |
Currency translation adjustment | 0 | 0 | |
Gross carrying amount, ending balance | 70 | 70 | |
Accumulated amortization, beginning balance | 12 | 9 | |
Amortization expense | 4 | [1] | 3 |
Accumulated amortization, ending balance | 16 | 12 | |
Intangible assets subject to amortization net, beginning balance | 58 | 9 | |
Amortization expense | -4 | [1] | -3 |
Currency translation adjustment, Net | 0 | 0 | |
Intangible assets subject to amortization net, ending balance | 54 | 58 | |
U.S. Specialty [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Gross carrying amount, beginning balance | 0 | 0 | |
Currency translation adjustment | 0 | 0 | |
Gross carrying amount, ending balance | 0 | 0 | |
Accumulated amortization, beginning balance | 0 | 0 | |
Amortization expense | 0 | [1] | 0 |
Accumulated amortization, ending balance | 0 | 0 | |
Intangible assets subject to amortization net, beginning balance | 0 | 0 | |
Amortization expense | 0 | [1] | 0 |
Currency translation adjustment, Net | 0 | 0 | |
Intangible assets subject to amortization net, ending balance | 0 | 0 | |
North America Other [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Gross carrying amount, beginning balance | 5 | 5 | |
Currency translation adjustment | 0 | 0 | |
Gross carrying amount, ending balance | 5 | 5 | |
Accumulated amortization, beginning balance | 3 | 3 | |
Amortization expense | 1 | [1] | 0 |
Accumulated amortization, ending balance | 4 | 3 | |
Intangible assets subject to amortization net, beginning balance | 2 | 2 | |
Amortization expense | -1 | [1] | 0 |
Currency translation adjustment, Net | 0 | 0 | |
Intangible assets subject to amortization net, ending balance | 1 | 2 | |
Europe [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Gross carrying amount, beginning balance | 43 | 2 | |
Currency translation adjustment | 1 | 2 | |
Gross carrying amount, ending balance | 44 | 43 | |
Accumulated amortization, beginning balance | 3 | 2 | |
Amortization expense | 3 | [1] | 1 |
Accumulated amortization, ending balance | 6 | 3 | |
Intangible assets subject to amortization net, beginning balance | 40 | 0 | |
Amortization expense | -3 | [1] | -1 |
Currency translation adjustment, Net | 1 | 2 | |
Intangible assets subject to amortization net, ending balance | 38 | 40 | |
Latin America [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Gross carrying amount, beginning balance | 7 | 7 | |
Currency translation adjustment | 0 | 0 | |
Gross carrying amount, ending balance | 7 | 7 | |
Accumulated amortization, beginning balance | 7 | 7 | |
Amortization expense | 0 | [1] | 0 |
Accumulated amortization, ending balance | 7 | 7 | |
Intangible assets subject to amortization net, beginning balance | 0 | 0 | |
Amortization expense | 0 | [1] | 0 |
Currency translation adjustment, Net | 0 | 0 | |
Intangible assets subject to amortization net, ending balance | 0 | 0 | |
Asia Pacific [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Gross carrying amount, beginning balance | 10 | 0 | |
Currency translation adjustment | 0 | 0 | |
Gross carrying amount, ending balance | 10 | 10 | |
Accumulated amortization, beginning balance | 0 | 0 | |
Amortization expense | 1 | [1] | 0 |
Accumulated amortization, ending balance | 1 | 0 | |
Intangible assets subject to amortization net, beginning balance | 10 | 0 | |
Amortization expense | -1 | [1] | 0 |
Currency translation adjustment, Net | 0 | 0 | |
Intangible assets subject to amortization net, ending balance | 9 | 10 | |
Pringles Customer Relationships [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Finite Lived Intangible Assets Acquired | ' | 79 | |
Finite Lived Intangible Assets Acquired Net Of Amortization | ' | 79 | |
Pringles Customer Relationships [Member] | U.S. Morning Foods [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Finite Lived Intangible Assets Acquired | ' | 0 | |
Finite Lived Intangible Assets Acquired Net Of Amortization | ' | 0 | |
Pringles Customer Relationships [Member] | U.S. Snacks [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Finite Lived Intangible Assets Acquired | ' | 30 | |
Finite Lived Intangible Assets Acquired Net Of Amortization | ' | 30 | |
Pringles Customer Relationships [Member] | U.S. Specialty [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Finite Lived Intangible Assets Acquired | ' | 0 | |
Finite Lived Intangible Assets Acquired Net Of Amortization | ' | 0 | |
Pringles Customer Relationships [Member] | North America Other [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Finite Lived Intangible Assets Acquired | ' | 0 | |
Finite Lived Intangible Assets Acquired Net Of Amortization | ' | 0 | |
Pringles Customer Relationships [Member] | Europe [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Finite Lived Intangible Assets Acquired | ' | 39 | |
Finite Lived Intangible Assets Acquired Net Of Amortization | ' | 39 | |
Pringles Customer Relationships [Member] | Latin America [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Finite Lived Intangible Assets Acquired | ' | 0 | |
Finite Lived Intangible Assets Acquired Net Of Amortization | ' | 0 | |
Pringles Customer Relationships [Member] | Asia Pacific [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Finite Lived Intangible Assets Acquired | ' | 10 | |
Finite Lived Intangible Assets Acquired Net Of Amortization | ' | 10 | |
Other Intangible Assets [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Finite Lived Intangible Assets Acquired | ' | 22 | |
Finite Lived Intangible Assets Acquired Net Of Amortization | ' | 22 | |
Other Intangible Assets [Member] | U.S. Morning Foods [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Finite Lived Intangible Assets Acquired | ' | 0 | |
Finite Lived Intangible Assets Acquired Net Of Amortization | ' | 0 | |
Other Intangible Assets [Member] | U.S. Snacks [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Finite Lived Intangible Assets Acquired | ' | 22 | |
Finite Lived Intangible Assets Acquired Net Of Amortization | ' | 22 | |
Other Intangible Assets [Member] | U.S. Specialty [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Finite Lived Intangible Assets Acquired | ' | 0 | |
Finite Lived Intangible Assets Acquired Net Of Amortization | ' | 0 | |
Other Intangible Assets [Member] | North America Other [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Finite Lived Intangible Assets Acquired | ' | 0 | |
Finite Lived Intangible Assets Acquired Net Of Amortization | ' | 0 | |
Other Intangible Assets [Member] | Europe [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Finite Lived Intangible Assets Acquired | ' | 0 | |
Finite Lived Intangible Assets Acquired Net Of Amortization | ' | 0 | |
Other Intangible Assets [Member] | Latin America [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Finite Lived Intangible Assets Acquired | ' | 0 | |
Finite Lived Intangible Assets Acquired Net Of Amortization | ' | 0 | |
Other Intangible Assets [Member] | Asia Pacific [Member] | ' | ' | |
Finite Lived Intangible Assets [Roll Forward] | ' | ' | |
Finite Lived Intangible Assets Acquired | ' | 0 | |
Finite Lived Intangible Assets Acquired Net Of Amortization | ' | $0 | |
[1] | (a) The currently estimated aggregate amortization expense for each of the next five succeeding fiscal periods is approximately $9 million per year. |
Acquisitions_Goodwill_and_Othe4
Acquisitions, Goodwill and Other Intangible Assets (Carrying Amount of Goodwill) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 28, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 29, 2012 | Dec. 28, 2013 | Sep. 28, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Sep. 28, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | ||
Pringles [Member] | Pringles [Member] | Other [Member] | Other [Member] | U.S. Morning Foods [Member] | U.S. Morning Foods [Member] | U.S. Morning Foods [Member] | U.S. Morning Foods [Member] | U.S. Morning Foods [Member] | U.S. Morning Foods [Member] | U.S. Snacks [Member] | U.S. Snacks [Member] | U.S. Snacks [Member] | U.S. Snacks [Member] | U.S. Snacks [Member] | U.S. Snacks [Member] | U.S. Specialty [Member] | U.S. Specialty [Member] | U.S. Specialty [Member] | U.S. Specialty [Member] | U.S. Specialty [Member] | U.S. Specialty [Member] | North America Other [Member] | North America Other [Member] | North America Other [Member] | North America Other [Member] | North America Other [Member] | North America [Member] | Europe [Member] | Europe [Member] | Europe [Member] | Europe [Member] | Europe [Member] | Europe [Member] | Europe [Member] | Latin America [Member] | Latin America [Member] | Latin America [Member] | Latin America [Member] | Latin America [Member] | Latin America [Member] | Asia Pacific [Member] | Asia Pacific [Member] | Asia Pacific [Member] | Asia Pacific [Member] | Asia Pacific [Member] | Asia Pacific [Member] | Asia Pacific [Member] | ||||||
Pringles [Member] | Pringles [Member] | Other [Member] | Other [Member] | Pringles [Member] | Pringles [Member] | Other [Member] | Other [Member] | Pringles [Member] | Pringles [Member] | Other [Member] | Other [Member] | Pringles [Member] | Pringles [Member] | Other [Member] | Other [Member] | Pringles [Member] | Pringles [Member] | Other [Member] | Other [Member] | Pringles [Member] | Pringles [Member] | Other [Member] | Other [Member] | Pringles [Member] | Pringles [Member] | Other [Member] | Other [Member] | ||||||||||||||||||||||||||
Changes in the carrying amount of goodwill | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Beginning Balance | ' | $5,038 | [1] | $3,623 | ' | ' | ' | ' | $133 | $80 | ' | ' | ' | ' | $3,767 | $3,257 | ' | ' | ' | ' | $82 | $0 | ' | ' | ' | ' | $280 | $202 | ' | ' | ' | ' | ' | $438 | $57 | ' | ' | ' | ' | $92 | $0 | ' | ' | ' | ' | ' | $246 | $27 | ' | ' | ' | ' | |
Goodwill | 13 | ' | ' | 13 | 1,306 | 12 | 76 | ' | ' | 0 | 53 | 0 | 0 | ' | ' | 0 | 434 | 12 | 76 | ' | ' | 0 | 82 | 0 | 0 | ' | ' | 0 | 77 | 0 | 0 | 10 | ' | ' | 10 | 356 | 0 | 0 | ' | ' | 0 | 88 | 0 | 0 | 3 | ' | ' | 3 | 216 | 0 | 0 | ||
Currency translation adjustment | ' | -12 | 33 | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 | ' | ' | ' | ' | -2 | 1 | ' | ' | ' | ' | ' | 4 | 25 | ' | ' | ' | ' | -3 | 4 | ' | ' | ' | ' | ' | -11 | 3 | ' | ' | ' | ' | ||
Ending Balance | ' | $5,051 | $5,038 | [1] | ' | ' | ' | ' | $133 | $133 | ' | ' | ' | ' | $3,779 | $3,257 | ' | ' | ' | ' | $82 | $82 | ' | ' | ' | ' | $278 | $280 | ' | ' | ' | ' | ' | $452 | $438 | ' | ' | ' | ' | $89 | $92 | ' | ' | ' | ' | ' | $238 | $246 | ' | ' | ' | ' | |
[1] | *December 29, 2012 balances have been revised as discussed in Note 2 to the financial statements. |
Acquisitions_Goodwill_and_Othe5
Acquisitions, Goodwill and Other Intangible Assets (Intangible Assets not Subject to Amortization) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
Indefinite-lived Intangible Assets by Major Class [Line Items] | ' | ' |
Beginning balance | $2,249 | $1,443 |
Pringles brand | ' | 776 |
Currency translation adjustment | 16 | 30 |
Ending balance | 2,265 | 2,249 |
U.S. Morning Foods [Member] | ' | ' |
Indefinite-lived Intangible Assets by Major Class [Line Items] | ' | ' |
Beginning balance | 63 | 63 |
Pringles brand | ' | 0 |
Currency translation adjustment | 0 | 0 |
Ending balance | 63 | 63 |
U.S. Snacks [Member] | ' | ' |
Indefinite-lived Intangible Assets by Major Class [Line Items] | ' | ' |
Beginning balance | 1,625 | 1,285 |
Pringles brand | ' | 340 |
Currency translation adjustment | 0 | 0 |
Ending balance | 1,625 | 1,625 |
U.S. Specialty [Member] | ' | ' |
Indefinite-lived Intangible Assets by Major Class [Line Items] | ' | ' |
Beginning balance | 0 | 0 |
Pringles brand | ' | 0 |
Currency translation adjustment | 0 | 0 |
Ending balance | 0 | 0 |
North America Other [Member] | ' | ' |
Indefinite-lived Intangible Assets by Major Class [Line Items] | ' | ' |
Beginning balance | 95 | 95 |
Pringles brand | ' | 0 |
Currency translation adjustment | 0 | 0 |
Ending balance | 95 | 95 |
Europe [Member] | ' | ' |
Indefinite-lived Intangible Assets by Major Class [Line Items] | ' | ' |
Beginning balance | 466 | 0 |
Pringles brand | ' | 436 |
Currency translation adjustment | 16 | 30 |
Ending balance | 482 | 466 |
Latin America [Member] | ' | ' |
Indefinite-lived Intangible Assets by Major Class [Line Items] | ' | ' |
Beginning balance | 0 | 0 |
Pringles brand | ' | 0 |
Currency translation adjustment | 0 | 0 |
Ending balance | 0 | 0 |
Asia Pacific [Member] | ' | ' |
Indefinite-lived Intangible Assets by Major Class [Line Items] | ' | ' |
Beginning balance | 0 | 0 |
Pringles brand | ' | 0 |
Currency translation adjustment | 0 | 0 |
Ending balance | $0 | $0 |
Exit_or_Disposal_Activities_Na
Exit or Disposal Activities (Narrative) (Details) (USD $) | 12 Months Ended | 19 Months Ended | ||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 |
COGS Program [Member] | COGS [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | $21 | $43 | $36 | ' |
SGA Programs [Member] | SGA [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 21 | 13 | 25 | ' |
COGS and SGA Programs [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 42 | 56 | 61 | ' |
Restructuring and related costs, costs incurred to date | ' | ' | ' | 143 |
Restructuring reserves | 1 | 1 | 1 | 1 |
U.S. Morning Foods [Member] | COGS and SGA Programs [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 9 | 16 | 11 | ' |
Restructuring and related costs, costs incurred to date | ' | ' | ' | 21 |
U.S. Snacks [Member] | COGS and SGA Programs [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 11 | 10 | 24 | ' |
Restructuring and related costs, costs incurred to date | ' | ' | ' | 47 |
U.S. Specialty [Member] | COGS and SGA Programs [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 2 | 1 | 1 | ' |
Restructuring and related costs, costs incurred to date | ' | ' | ' | 6 |
North America Other [Member] | COGS and SGA Programs [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 2 | 6 | 6 | ' |
Restructuring and related costs, costs incurred to date | ' | ' | ' | 4 |
Europe [Member] | COGS and SGA Programs [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 8 | 3 | 16 | ' |
Restructuring and related costs, costs incurred to date | ' | ' | ' | 37 |
Asia Pacific [Member] | COGS and SGA Programs [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 8 | 18 | 2 | ' |
Restructuring and related costs, costs incurred to date | ' | ' | ' | 26 |
Latin America [Member] | COGS and SGA Programs [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 1 | 2 | 1 | ' |
Restructuring and related costs, costs incurred to date | ' | ' | ' | $2 |
Exit_or_Disposal_Activities_On
Exit or Disposal Activities (Ongoing Initiatives) (Details) (USD $) | 12 Months Ended | 19 Months Ended | ||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 |
COGS Program [Member] | COGS [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | $21 | $43 | $36 | ' |
SGA Programs [Member] | SGA [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 21 | 13 | 25 | ' |
COGS and SGA Programs [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 42 | 56 | 61 | ' |
Restructuring and related costs, costs incurred to date | ' | ' | ' | 143 |
COGS and SGA Programs [Member] | U.S. Morning Foods [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 9 | 16 | 11 | ' |
Restructuring and related costs, costs incurred to date | ' | ' | ' | 21 |
COGS and SGA Programs [Member] | U.S. Snacks [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 11 | 10 | 24 | ' |
Restructuring and related costs, costs incurred to date | ' | ' | ' | 47 |
COGS and SGA Programs [Member] | U.S. Specialty [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 2 | 1 | 1 | ' |
Restructuring and related costs, costs incurred to date | ' | ' | ' | 6 |
COGS and SGA Programs [Member] | North America Other [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 2 | 6 | 6 | ' |
Restructuring and related costs, costs incurred to date | ' | ' | ' | 4 |
COGS and SGA Programs [Member] | Europe [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 8 | 3 | 16 | ' |
Restructuring and related costs, costs incurred to date | ' | ' | ' | 37 |
COGS and SGA Programs [Member] | Latin America [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 1 | 2 | 1 | ' |
Restructuring and related costs, costs incurred to date | ' | ' | ' | 2 |
COGS and SGA Programs [Member] | Asia Pacific [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 8 | 18 | 2 | ' |
Restructuring and related costs, costs incurred to date | ' | ' | ' | 26 |
COGS and SGA Programs [Member] | Corporate [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 1 | 0 | 0 | ' |
Restructuring and related costs, costs incurred to date | ' | ' | ' | 0 |
COGS and SGA Programs [Member] | Employee Related Cost [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 7 | 0 | 18 | ' |
Restructuring and related costs, costs incurred to date | ' | ' | ' | 38 |
COGS and SGA Programs [Member] | Asset Related Cost [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 4 | 4 | 4 | ' |
Restructuring and related costs, costs incurred to date | ' | ' | ' | 8 |
COGS and SGA Programs [Member] | Asset Impairment [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 4 | 17 | 0 | ' |
Restructuring and related costs, costs incurred to date | ' | ' | ' | 21 |
COGS and SGA Programs [Member] | Other Cost [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring and related costs, incurred cost | 27 | 35 | 39 | ' |
Restructuring and related costs, costs incurred to date | ' | ' | ' | $76 |
Exit_or_Disposal_Activities_Pr
Exit or Disposal Activities (Project K Costs) (Details) (Project K [Member], USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and related costs, incurred cost | $208 | ' |
Restructuring plan, number of years | '4 years | ' |
Restructuring reserves | 77 | 0 |
COGS [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and related costs, incurred cost | 174 | ' |
SGA [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and related costs, incurred cost | 34 | ' |
Maximum [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Estimated cash costs for program | 1,100 | ' |
Restructuring and related costs, expected cost | 1,400 | ' |
Minimum [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Estimated cash costs for program | 900 | ' |
Restructuring and related costs, expected cost | 1,200 | ' |
U.S. Morning Foods [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and related costs, incurred cost | 100 | ' |
Restructuring and related cost expected cost allocation | 17.00% | ' |
U.S. Snacks [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and related costs, incurred cost | 19 | ' |
Restructuring and related cost expected cost allocation | 7.00% | ' |
U.S. Specialty [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and related costs, incurred cost | 3 | ' |
Restructuring and related cost expected cost allocation | 1.00% | ' |
North America Other [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and related costs, incurred cost | 9 | ' |
Restructuring and related cost expected cost allocation | 3.00% | ' |
Europe [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and related costs, incurred cost | 19 | ' |
Restructuring and related cost expected cost allocation | 7.00% | ' |
Latin America [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and related costs, incurred cost | 4 | ' |
Restructuring and related cost expected cost allocation | 2.00% | ' |
Asia Pacific [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and related costs, incurred cost | 24 | ' |
Restructuring and related cost expected cost allocation | 6.00% | ' |
Corporate [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and related costs, incurred cost | 30 | ' |
Restructuring and related cost expected cost allocation | 57.00% | ' |
Employee Severance | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and related costs, incurred cost | 107 | ' |
Restructuring reserves | 65 | 0 |
Employee Severance | Maximum [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and related costs, expected cost | 475 | ' |
Employee Severance | Minimum [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and related costs, expected cost | 425 | ' |
Asset Related Cost [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and related costs, incurred cost | 6 | ' |
Restructuring reserves | 0 | 0 |
Asset Related Cost [Member] | Maximum [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and related costs, expected cost | 500 | ' |
Asset Related Cost [Member] | Minimum [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and related costs, expected cost | 450 | ' |
Asset Impairment Charge [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and related costs, incurred cost | 66 | ' |
Restructuring reserves | 0 | 0 |
Other Restructuring [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and related costs, incurred cost | 29 | ' |
Restructuring reserves | 12 | 0 |
Other Restructuring [Member] | Maximum [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and related costs, expected cost | 425 | ' |
Other Restructuring [Member] | Minimum [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring and related costs, expected cost | $325 | ' |
Exit_or_Disposal_Activities_Pr1
Exit or Disposal Activities (Project K Reserve Rollforward) (Details) (Project K [Member], USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 28, 2013 | |
Restructuring Cost and Reserve [Line Items] | ' | |
Beginning of period | $0 | |
Restructuring Charges | 208 | |
Cash Payments | -25 | |
Non-cash Charges and Other | -106 | [1] |
End of period | 77 | |
Employee Severance | ' | |
Restructuring Cost and Reserve [Line Items] | ' | |
Beginning of period | 0 | |
Restructuring Charges | 107 | |
Cash Payments | -7 | |
Non-cash Charges and Other | -35 | [1] |
End of period | 65 | |
Asset Related Cost [Member] | ' | |
Restructuring Cost and Reserve [Line Items] | ' | |
Beginning of period | 0 | |
Restructuring Charges | 6 | |
Cash Payments | -1 | |
Non-cash Charges and Other | -5 | [1] |
End of period | 0 | |
Asset Impairment Charge [Member] | ' | |
Restructuring Cost and Reserve [Line Items] | ' | |
Beginning of period | 0 | |
Restructuring Charges | 66 | |
Cash Payments | 0 | |
Non-cash Charges and Other | -66 | [1] |
End of period | 0 | |
Other Restructuring [Member] | ' | |
Restructuring Cost and Reserve [Line Items] | ' | |
Beginning of period | 0 | |
Restructuring Charges | 29 | |
Cash Payments | -17 | |
Non-cash Charges and Other | 0 | [1] |
End of period | $12 | |
[1] | (a) Employee related non-cash charges consist of pension curtailment expense. |
Equity_Narrative_Details
Equity (Narrative) (Details) (USD $) | 12 Months Ended | 3 Months Ended | 1 Months Ended | ||||||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 29, 2012 | Dec. 28, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Dec. 28, 2013 | Feb. 22, 2014 |
December 2012 Share Repurchase Program [Member] | April 2013 Share Repurchase Program [Member] | May 2013 Share Repurchase Progrm [Member] | May 2013 Share Repurchase Progrm [Member] | May 2013 Share Repurchase Progrm [Member] | February 2014 Share Repurchase Program [Member] | ||||
Equity [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Anti-dilutive potential common shares excluded from reconciliation | 5 | 9.9 | 4.2 | ' | ' | ' | ' | ' | ' |
Shares issued to employees and directors under various benefit plans and stock purchase programs | 10 | 5 | 7 | ' | ' | ' | ' | ' | ' |
Common stock repurchases paid | $544 | $63 | $798 | ' | ' | ' | ' | ' | ' |
Direct stock purchase and dividend reinvestment plan shares issued | 'less than one million | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Class of Treasury Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share repurchase program, autorized amount | ' | ' | ' | 300 | 1,000 | ' | ' | ' | 1,500 |
Accelerated Share Repurchase Payment | ' | ' | ' | ' | ' | ' | ' | 355 | ' |
Common stock repurchases shares | 9 | 1 | 15 | ' | ' | 0.6 | 4.9 | ' | ' |
Common stock repurchases value | $544 | $63 | $793 | ' | ' | ' | ' | ' | ' |
Equity_Earnings_per_Share_Deta
Equity (Earnings per Share) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 28, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Equity [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income, basic | $818 | $326 | $352 | $311 | ($32) | $318 | $324 | $351 | $1,807 | $961 | $866 |
Average shares outstanding, basic | ' | ' | ' | ' | ' | ' | ' | ' | 363 | 358 | 362 |
Net earnings per share, basic | $2.26 | $0.90 | $0.96 | $0.86 | ($0.09) | $0.89 | $0.91 | $0.98 | $4.98 | $2.68 | $2.39 |
Average shares outstanding, dilutive potential common shares | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 2 | 2 |
Net earnings per share, dilutive potential common shares | ' | ' | ' | ' | ' | ' | ' | ' | ($0.04) | ($0.01) | ($0.01) |
Net income, diluted | ' | ' | ' | ' | ' | ' | ' | ' | $1,807 | $961 | $866 |
Average shares outstanding, diluted | ' | ' | ' | ' | ' | ' | ' | ' | 365 | 360 | 364 |
Net earnings per share, diluted | $2.24 | $0.90 | $0.96 | $0.85 | ($0.09) | $0.89 | $0.90 | $0.98 | $4.94 | $2.67 | $2.38 |
Equity_Accumulated_Other_Compr
Equity (Accumulated Other Comprehensive Income Reclass) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Derivative Instruments, Gain (Loss) [LineItems] | ' | ' | ' | |
Reclassification to net earnings, before-tax | ($6) | $14 | ($2) | |
Tax (expense) benefit | 0 | 5 | -1 | |
Net of Tax | -6 | 9 | -1 | |
Postretirement and Postemployment Benefits Reclassification to Net Income Pre Tax [Abstract] | ' | ' | ' | |
Net experience loss, before-tax | 5 | 5 | [1] | 5 |
Prior service cost, before-tax | 13 | 12 | [1] | 11 |
Total before tax | 18 | ' | ' | |
Postretirement and Postemployment Benefits Reclassification to Net Income After Tax [Abstract] | ' | ' | ' | |
Tax (expense) benefit | -6 | ' | ' | |
Net of tax | 12 | ' | ' | |
Total reclassifications for the quarter, net of tax | 6 | ' | ' | |
Cash Flow Hedging [Member] | ' | ' | ' | |
Derivative Instruments, Gain (Loss) [LineItems] | ' | ' | ' | |
Reclassification to net earnings, before-tax | -6 | ' | ' | |
Tax (expense) benefit | 0 | ' | ' | |
Net of Tax | 6 | ' | ' | |
Cash Flow Hedging [Member] | Foreign Currency Exchange Contracts [Member] | Cost Of Sales [Member] | ' | ' | ' | |
Derivative Instruments, Gain (Loss) [LineItems] | ' | ' | ' | |
Reclassification to net earnings, before-tax | -10 | ' | ' | |
Cash Flow Hedging [Member] | Foreign Currency Exchange Contracts [Member] | Selling General And Administrative Expenses [Member] | ' | ' | ' | |
Derivative Instruments, Gain (Loss) [LineItems] | ' | ' | ' | |
Reclassification to net earnings, before-tax | -2 | ' | ' | |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Interest Expense [Member] | ' | ' | ' | |
Derivative Instruments, Gain (Loss) [LineItems] | ' | ' | ' | |
Reclassification to net earnings, before-tax | -4 | ' | ' | |
Cash Flow Hedging [Member] | Commodity Contracts [Member] | Cost Of Sales [Member] | ' | ' | ' | |
Derivative Instruments, Gain (Loss) [LineItems] | ' | ' | ' | |
Reclassification to net earnings, before-tax | $10 | ' | ' | |
[1] | * December 29, 2012 balances have been revised as discussed in Note 2 to the financial statements. |
Equity_Accumulated_Other_Compr1
Equity (Accumulated Other Comprehensive Income (Loss)) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | |
In Millions, unless otherwise specified | |||
Accumulated Other Comprehensive Income Loss [LineItems] | ' | ' | |
Foreign currency translation adjustments | ($856) | ($832) | |
Cash flow hedges - unrealized net loss | 1 | -3 | |
Total accumulated other comprehensive income (loss) | -936 | -946 | [1] |
Net Experience Loss [Member] | ' | ' | |
Accumulated Other Comprehensive Income Loss [LineItems] | ' | ' | |
Postretirement and postemployment benefits | -15 | -29 | |
Prior Service Cost [Member] | ' | ' | |
Accumulated Other Comprehensive Income Loss [LineItems] | ' | ' | |
Postretirement and postemployment benefits | ($66) | ($82) | |
[1] | *December 29, 2012 balances have been revised as discussed in Note 2 to the financial statements. |
Leases_and_Other_Commitments_D
Leases and Other Commitments (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Leases [Abstract] | ' | ' | ' |
Rent expense on all operating leases | $174 | $174 | $166 |
Capital lease agreements | 1 | 4 | ' |
Operating leases, 2014 | 172 | ' | ' |
Operating leases, 2015 | 145 | ' | ' |
Operating leases, 2016 | 119 | ' | ' |
Operating leases, 2017 | 85 | ' | ' |
Operating leases, 2018 | 71 | ' | ' |
Operating leases, 2019 and beyond | 81 | ' | ' |
Operating leases, total minimum payments | 673 | ' | ' |
Capital leases, 2014 | 1 | ' | ' |
Capital leases, 2015 | 1 | ' | ' |
Capital leases, 2016 | 1 | ' | ' |
Capital leases, 2017 | 1 | ' | ' |
Capital leases, 2018 | 1 | ' | ' |
Capital leases, 2019 and beyond | 2 | ' | ' |
Capital leases, total minimum payments | 7 | ' | ' |
Amount representing interest | -1 | ' | ' |
Obligations under capital leases | 6 | ' | ' |
Obligations due within one year | -1 | ' | ' |
Long-term obligations under capital leases | $5 | ' | ' |
Debt_Narrative_Details
Debt (Narrative) (Details) (USD $) | 12 Months Ended | 1 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | 31-May-11 | Dec. 28, 2013 | Dec. 29, 2012 | Feb. 24, 2007 | Mar. 31, 2008 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | 31-May-12 | Mar. 31, 2012 |
3.25% U.S. Dollar Notes Due 2018 [Member] | Euro Commercial Paper [Member] | Euro Commercial Paper [Member] | Euro Commercial Paper [Member] | 4.25% U.S. Dollar Notes Due 2013 [Member] | Unsecured Four-Year Credit Agreement [Member] | Unsecured Four-Year Credit Agreement [Member] | Unsecured Four-Year Credit Agreement [Member] | Unsecured Four-Year Credit Agreement [Member] | New Credit Agreement [Member] | New Credit Agreement [Member] | ||||
Letter of Credit [Member] | U.S. Swingline Loans [Member] | European Swingline Loans [Member] | ||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayment of long-term debt | $762 | $750 | $945 | ' | ' | ' | ' | $750 | ' | ' | ' | ' | ' | ' |
Debt instrument, face amount | ' | ' | ' | 400 | ' | ' | ' | 750 | ' | ' | ' | ' | ' | ' |
Debt instrument, stated interest rate | ' | ' | ' | 3.25% | ' | ' | ' | 4.25% | ' | ' | ' | ' | ' | ' |
Line of credit facility, maximum borrowing capacity | 2,200 | ' | ' | ' | ' | ' | 750 | ' | 2,000 | 75 | 200 | 400 | ' | 1,000 |
Long-term debt | 6,330 | 6,082 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' |
Line of credit facility amount outstanding | ' | ' | ' | ' | 437 | 159 | ' | ' | ' | ' | ' | ' | ' | ' |
Principal repayments on long-term debt in 2014 | 289 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal repayments on long-term debt in 2015 | 610 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal repayments on long-term debt in 2016 | 1,253 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal repayments on long-term debt in 2017 | 403 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal repayments on long-term debt in 2018 | 403 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal repayments on long-term debt in 2019 and beyond | 3,702 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest paid | 234 | 254 | 249 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense, capitalized | $2 | $2 | $5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Components_of_Notes_Payab
Debt (Components of Notes Payable) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Millions, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Principal amount | $739 | $1,065 |
U.S. Commercial Paper [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Principal amount | 249 | 853 |
Effective interest rate | 0.22% | 0.26% |
Bank Borrowings [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Principal amount | 53 | 53 |
Europe Commerical Paper [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Principal amount | $437 | $159 |
Effective interest rate | 0.23% | 0.18% |
Debt_Schedule_of_LongTerm_Debt
Debt (Schedule of Long-Term Debt) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Mar. 31, 2001 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2010 | Dec. 28, 2013 | Dec. 29, 2012 | 31-May-09 | Dec. 28, 2013 | Dec. 29, 2012 | 31-May-12 | Dec. 28, 2013 | Dec. 29, 2012 | Nov. 30, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Nov. 30, 2009 | Dec. 28, 2013 | Dec. 29, 2012 | 31-May-11 | Dec. 28, 2013 | Feb. 28, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | 31-May-12 | Dec. 28, 2013 | Dec. 29, 2012 | 31-May-12 | Dec. 28, 2013 | Dec. 29, 2012 | 31-May-12 | Dec. 29, 2012 | Mar. 31, 2008 | Dec. 28, 2013 | |||||||||||||||||||||||
In Millions, unless otherwise specified | 7.45% U.S. Dollar Debentures Due 2031 [Member] | 7.45% U.S. Dollar Debentures Due 2031 [Member] | 7.45% U.S. Dollar Debentures Due 2031 [Member] | 4.0% U.S. Dollar Notes Due 2020 [Member] | 4.0% U.S. Dollar Notes Due 2020 [Member] | 4.0% U.S. Dollar Notes Due 2020 [Member] | 4.45% U.S. Dollar Notes Due 2016 [Member] | 4.45% U.S. Dollar Notes Due 2016 [Member] | 4.45% U.S. Dollar Notes Due 2016 [Member] | 3.125% U.S. Dollar Debentures due 2022 [Member] | 3.125% U.S. Dollar Debentures due 2022 [Member] | 3.125% U.S. Dollar Debentures due 2022 [Member] | 1.875% U.S. Dollar Notes Due 2016 [Member] | 1.875% U.S. Dollar Notes Due 2016 [Member] | 1.875% U.S. Dollar Notes Due 2016 [Member] | 4.15% U.S. Dollar Notes Due 2019 [Member] | 4.15% U.S. Dollar Notes Due 2019 [Member] | 4.15% U.S. Dollar Notes Due 2019 [Member] | 3.25% U.S. Dollar Notes Due 2018 [Member] | 3.25% U.S. Dollar Notes Due 2018 [Member] | 3.25% U.S. Dollar Notes Due 2018 [Member] | 2.75% U.S. Dollar Notes Due 2023 [Member] | 2.75% U.S. Dollar Notes Due 2023 [Member] | 1.75% U.S. Dollar Notes due 2017 [Member] | 1.75% U.S. Dollar Notes due 2017 [Member] | 1.75% U.S. Dollar Notes due 2017 [Member] | 1.125% U.S. Dollar Notes Due 2015 [Member] | 1.125% U.S. Dollar Notes Due 2015 [Member] | 1.125% U.S. Dollar Notes Due 2015 [Member] | 2.10% Canadian Dollar Notes Due 2014 [Member] | 2.10% Canadian Dollar Notes Due 2014 [Member] | 2.10% Canadian Dollar Notes Due 2014 [Member] | 4.25% U.S. Dollar Notes Due 2013 [Member] | 4.25% U.S. Dollar Notes Due 2013 [Member] | Floating-rate U.S. Dollar Notes Due 2015 [Member] | |||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Notes payable | ' | ' | $1,089 | [1] | $1,091 | [1] | ' | $974 | [2] | $993 | [2] | ' | $767 | [3] | $772 | [3] | ' | $682 | [4] | $694 | [4] | ' | $505 | [5] | $509 | [5] | ' | $488 | [6] | $513 | [6] | ' | $411 | [7] | $420 | [7] | ' | $398 | [8] | ' | $395 | [9] | $398 | [9] | ' | $350 | [10] | $350 | [10] | ' | $282 | [11] | $302 | [11] | ' | $754 | [12] | ' | $250 | [13] |
Debt instrument, stated interest rate | ' | ' | ' | ' | 7.45% | ' | ' | 4.00% | ' | ' | 4.45% | ' | ' | 3.13% | ' | ' | 1.88% | ' | ' | 4.15% | ' | ' | 3.25% | ' | 2.75% | ' | ' | 1.75% | ' | ' | 1.13% | ' | ' | 2.10% | ' | 4.25% | ' | |||||||||||||||||||||||
Other | 28 | 41 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Long-term debt including current maturities of long-term debt | 6,619 | 6,837 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Current maturities of long-term debt | -289 | -755 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Long-term debt | $6,330 | $6,082 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
[1] | In March 2001, the Company issued long-term debt instruments, primarily to finance the acquisition of Keebler Foods Company, of which $1.1 billion of thirty-year 7.45% Debentures remain outstanding. The effective interest rate on the Debentures, reflecting issuance discount and hedge settlement, was 7.54%. The Debentures contain standard events of default and covenants, and can be redeemed in whole or in part by the Company at any time at prices determined under a formula (but not less than 100% of the principal amount plus unpaid interest to the redemption date). | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | In December 2010, the Company issued $1.0B billion of ten-year 4.0% fixed rate U.S.B Dollar Notes, using net proceeds from these Notes for incremental pension and postretirement benefit plan contributions and to retire a portion of its commercial paper. The effective interest rate on these Notes, reflecting issuance discount and hedge settlement, was 2.90%. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. In March 2013, the Company entered into interest rate swaps with notional amounts totaling $400 million, which effectively converted a portion of these Notes from a fixed rate to a floating rate obligation for the remainder of the ten-year term. These derivative instruments were designated as fair value hedges of the debt obligation. The fair value adjustment for the interest rate swaps was $20B million, and was recorded as a decrease in the hedged debt balance at December 28, 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | In MayB 2009, the Company issued $750B million of seven-year 4.45% fixed rate U.S.B Dollar Notes, using net proceeds from these Notes to retire a portion of its commercial paper. The effective interest rate on these Notes, reflecting issuance discount, hedge settlement and interest rate swaps was 3.45% at December 28, 2013. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. The Company entered into interest rate swaps in February 2011 and March 2012 with notional amounts totaling $200 million and $550 million, respectively, which effectively converted these Notes from a fixed rate to a floating rate obligation. These derivative instruments were designated as fair value hedges of the debt obligation. In April 2013, the Company terminated all of the interest rate swaps. The resulting unamortized gain of $18 million at December 28, 2013 will be amortized to interest expense over the remaining term of the Notes. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | In May 2012, the Company issued $700 million of ten-year 3.125% U.S. Dollar Notes, using net proceeds from these Notes for general corporate purposes, including financing a portion of the acquisition of Pringles. The effective interest rate on these Notes, reflecting issuance discount and interest rate swaps, was 2.74% at December 28, 2013. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. In May 2013, the Company entered into interest rate swaps with notional amounts totaling $200 million, which effectively converted a portion of these Notes from a fixed rate to a floating rate obligation for the remainder of the ten-year term. These derivative instruments were designated as fair value hedges of the debt obligation. The fair value adjustment for the interest rate swaps was $13B million, and was recorded as a decrease in the hedged debt balance at December 28, 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | In November 2011, the Company issued $500B million of five-year 1.875% fixed rate U.S.B Dollar Notes, using net proceeds from these Notes for general corporate purposes including repayment of a portion of its commercial paper. The effective interest rate on these Notes, reflecting issuance discount, hedge settlement and interest rate swaps was 0.98% at December 28, 2013. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. In March 2012, the Company entered into interest rate swaps which effectively converted these Notes from a fixed rate to a floating rate obligation. These derivative instruments were designated as fair value hedges of the debt obligation. In April 2013, the Company terminated all of the interest rate swaps, and the resulting unamortized gain of $8 million at December 28, 2013 will be amortized to interest expense over the remaining term of the Notes. In May 2013, the Company entered into interest rate swaps with notional amounts totaling $500 million, which effectively converted this debt from a fixed rate to a floating rate obligation for the remainder of the five-year term. These derivative instruments were designated as fair value hedges of the debt obligation. The fair value adjustment for the interest rate swaps was $3B million, and was recorded as a decrease in the hedged debt balance at December 28, 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[6] | In November 2009, the Company issued $500B million of ten-year 4.15% fixed rate U.S.B Dollar Notes, using net proceeds from these Notes to retire a portion of its 6.6% U.S.B Dollar Notes due 2011. The effective interest rate on these Notes, reflecting issuance discount, hedge settlement and interest rate swaps was 2.72% at December 28, 2013. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. In March 2012, the Company entered into interest rate swaps which effectively converted these Notes from a fixed rate to a floating rate obligation for the remainder of the ten-year term. These derivative instruments were designated as fair value hedges of the debt obligation. The fair value adjustment for the interest rate swaps was $11B million, and was recorded as a decrease in the hedged debt balance at December 28, 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[7] | In May 2011, the Company issued $400B million of seven-year 3.25% fixed rate U.S.B Dollar Notes, using net proceeds from these Notes for general corporate purposes including repayment of a portion of its commercial paper. The effective interest rate on these Notes, reflecting issuance discount, hedge settlement and interest rate swaps, was 1.86% at December 28, 2013. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. In October 2011, the Company entered into interest rate swaps with notional amounts totaling $400 million, which effectively converted these Notes from a fixed rate to a floating rate obligation. These derivative instruments were designated as fair value hedges of the debt obligation. During February and April 2013, the Company terminated all of the interest rate swaps, and the resulting unamortized gain of $17 million at December 28, 2013 will be amortized to interest expense over the remaining term of the Notes. In May 2013, the Company entered into interest rate swaps with notional amounts totaling $400 million, which effectively converted these Notes from a fixed rate to a floating rate obligation for the remainder of the seven-year term. These derivative instruments were designated as fair value hedges of the debt obligation. The fair value adjustment for the interest rate swaps was $6B million, and was recorded as a decrease in the hedged debt balance at December 28, 2013 and December 29, 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[8] | In February 2013, the Company issued $400 million of ten-year 2.75% U.S. Dollar Notes, using net proceeds from these Notes for general corporate purposes, including, together with cash on hand, a portion of the repayment of $750 million aggregate principal amount of the Companybs 4.25% U.S. Dollar Notes that matured in March 2013. The effective interest rate on these Notes, reflecting issuance discount and hedge settlement, was 2.74%. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[9] | In May 2012, the Company issued $400 million of five-year 1.75% U.S. Dollar Notes, using net proceeds from these Notes for general corporate purposes, including financing a portion of the acquisition of Pringles. The effective interest rate on these Notes, reflecting issuance discount and interest rate swaps, was 1.32%. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. In March and May 2013, the Company entered into interest rate swaps with notional amounts totaling $400 million, which effectively converted the Notes from a fixed rate to a floating rate obligation for the remainder of the ten-year term. These derivative instruments were designated as fair value hedges of the debt obligation. The fair value adjustment for the interest rate swaps was $4B million, and was recorded as a decrease in the hedged debt balance at December 28, 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[10] | In May 2012, the Company issued $350 million of three-year 1.125% U.S. Dollar Notes, using net proceeds from these Notes for general corporate purposes, including financing a portion of the acquisition of Pringles. The effective interest rate on these Notes, reflecting issuance discount, was 1.16%. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[11] | In May 2012, the Company issued Cdn.$300 million of two-year 2.10% fixed rate Canadian Dollar Notes, using net proceeds from these Notes for general corporate purposes, which included repayment of intercompany debt. This repayment resulted in cash available to be used for a portion of the acquisition of Pringles. The effective interest rate on these Notes, reflecting issuance discount, was 2.11%. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[12] | In MarchB 2008, the Company issued $750B million of five-year 4.25% fixed rate U.S.B Dollar Notes, using net proceeds from these Notes to retire a portion of its U.S. commercial paper. The Notes contained customary covenants that limited the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contained a change of control provision. In conjunction with this debt issuance, the Company entered into interest rate swaps with notional amounts totaling $750B million, which effectively converted this debt from a fixed rate to a floating rate obligation. These derivative instruments were designated as fair value hedges of the debt obligation. During 2011, the Company transferred a portion of the interest rate swaps to another counterparty and subsequently terminated all the interest rate swaps. The Company redeemed the Notes in March 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[13] | In February 2013, the Company issued $250 million of floating-rate U.S. Dollar Notes bearing interest at LIBOR plus 0.23% due February 2015. The proceeds from these Notes were used for general corporate purposes, including, together with cash on hand, a portion of the repayment of $750 million aggregate principal amount of the Companybs 4.25% U.S. Dollar Notes that matured in March 2013. The effective interest rate on these Notes was 0.47% at December 28, 2013. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. |
Debt_LongTerm_Debt_Footnote_A_
Debt (Long-Term Debt Footnote A) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | Mar. 31, 2001 | Nov. 30, 2009 |
In Millions, unless otherwise specified | 7.45% U.S. Dollar Debentures Due 2031 [Member] | 6.6% U.S. Dollar Notes Due 2011 [Member] | ||
Debt Instrument [Line Items] | ' | ' | ' | ' |
Debt instrument, face amount | ' | ' | $1,100 | ' |
Debt Instrument term, in years | ' | ' | '30 years | ' |
Debt instrument, stated interest rate | ' | ' | 7.45% | ' |
Effective interest rate | ' | ' | 7.54% | 6.60% |
Notional amounts of interest rate swaps | $3,278 | $3,040 | ' | ' |
Debt_LongTerm_Debt_Footnote_B_
Debt (Long-Term Debt Footnote B) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2010 | Dec. 28, 2013 | Mar. 30, 2013 |
In Millions, unless otherwise specified | 4.0% U.S. Dollar Notes Due 2020 [Member] | 4.0% U.S. Dollar Notes Due 2020 [Member] | 4.0% U.S. Dollar Notes Due 2020 [Member] | ||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Debt instrument, face amount | ' | ' | $1,000 | ' | ' |
Debt Instrument term, in years | ' | ' | '10 years | ' | ' |
Debt instrument, stated interest rate | ' | ' | 4.00% | ' | ' |
Debt instrument, effective interest rate | ' | ' | 2.90% | ' | ' |
Notional amounts of interest rate swaps | 3,278 | 3,040 | ' | ' | 400 |
Fair value adjustment for interest rate swaps | ' | ' | ' | $20 | ' |
Debt_LongTerm_Debt_Footnote_C_
Debt (Long-Term Debt Footnote C) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | 31-May-09 | Dec. 28, 2013 | Mar. 31, 2012 | Feb. 28, 2011 |
In Millions, unless otherwise specified | 4.45% U.S. Dollar Notes Due 2016 [Member] | 4.45% U.S. Dollar Notes Due 2016 [Member] | 4.45% U.S. Dollar Notes Due 2016 [Member] | 4.45% U.S. Dollar Notes Due 2016 [Member] | ||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Debt instrument, face amount | ' | ' | $750 | ' | ' | ' |
Debt Instrument term, in years | ' | ' | '7 years | ' | ' | ' |
Debt instrument, stated interest rate | ' | ' | 4.45% | ' | ' | ' |
Debt instrument, effective interest rate | ' | ' | ' | 3.45% | ' | ' |
Notional amounts of interest rate swaps | 3,278 | 3,040 | ' | ' | 550 | 200 |
Unamortized gain on termination of interest rate swaps | ' | ' | ' | $18 | ' | ' |
Debt_LongTerm_Debt_Footnote_D_
Debt (Long-Term Debt Footnote D) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | 31-May-12 | Dec. 28, 2013 | 31-May-13 |
In Millions, unless otherwise specified | 3.125% U.S. Dollar Debentures due 2022 [Member] | 3.125% U.S. Dollar Debentures due 2022 [Member] | 3.125% U.S. Dollar Debentures due 2022 [Member] | ||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Debt instrument, face amount | ' | ' | $700 | ' | ' |
Debt Instrument term, in years | ' | ' | '10 years | ' | ' |
Debt instrument, stated interest rate | ' | ' | 3.13% | ' | ' |
Effective interest rate | ' | ' | ' | 2.74% | ' |
Fair value adjustment for interest rate swaps | ' | ' | ' | 13 | ' |
Notional amounts of interest rate swaps | $3,278 | $3,040 | ' | ' | $200 |
Debt_LongTerm_Debt_Footnote_E_
Debt (Long-Term Debt Footnote E) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | Nov. 30, 2011 | Dec. 28, 2013 | 31-May-13 |
In Millions, unless otherwise specified | 1.875% U.S. Dollar Notes Due 2016 [Member] | 1.875% U.S. Dollar Notes Due 2016 [Member] | 1.875% U.S. Dollar Notes Due 2016 [Member] | ||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Debt instrument, face amount | ' | ' | $500 | ' | ' |
Debt Instrument term, in years | ' | ' | '5 years | ' | ' |
Debt instrument, stated interest rate | ' | ' | 1.88% | ' | ' |
Effective interest rate | ' | ' | ' | 0.98% | ' |
Notional amounts of interest rate swaps | 3,278 | 3,040 | ' | ' | 500 |
Fair value adjustment for interest rate swaps | ' | ' | ' | 3 | ' |
Unamortized gain on termination of interest rate swaps | ' | ' | ' | $8 | ' |
Debt_LongTerm_Debt_Footnote_F_
Debt (Long-Term Debt Footnote F) (Details) (USD $) | 1 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Nov. 30, 2009 | Dec. 28, 2013 |
4.15% U.S. Dollar Notes Due 2019 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument, face amount | $500 | ' |
Debt Instrument term, in years | '10 years | ' |
Debt instrument, stated interest rate | 4.15% | ' |
Debt instrument, effective interest rate | ' | 2.72% |
Fair value adjustment for interest rate swaps | ' | $11 |
6.6% U.S. Dollar Notes Due 2011 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument, effective interest rate | 6.60% | ' |
Debt_LongTerm_Debt_Footnote_G_
Debt (Long-Term Debt Footnote G) (Details) (USD $) | 1 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | 31-May-12 | Dec. 28, 2013 | Dec. 29, 2012 | 31-May-13 | Oct. 31, 2011 | 31-May-11 |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Notional amounts of interest rate swaps | ' | $3,278 | $3,040 | ' | ' | ' |
3.25% U.S. Dollar Notes Due 2018 [Member] | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Debt instrument, face amount | ' | ' | ' | ' | ' | 400 |
Debt Instrument term, in years | '7 years | ' | ' | ' | ' | ' |
Debt instrument, stated interest rate | ' | ' | ' | ' | ' | 3.25% |
Effective interest rate | ' | 1.86% | ' | ' | ' | ' |
Notional amounts of interest rate swaps | ' | ' | ' | 400 | 400 | ' |
Fair value adjustment for interest rate swaps | ' | 6 | 6 | ' | ' | ' |
Unamortized gain on termination of interest rate swaps | ' | $17 | ' | ' | ' | ' |
Debt_LongTerm_Debt_Footnote_H_
Debt (Long-Term Debt Footnote H) (Details) (USD $) | 1 Months Ended | |
In Millions, unless otherwise specified | Feb. 28, 2013 | Mar. 31, 2008 |
2.75% U.S. Dollar Notes Due 2023 [Member] | 4.25% U.S. Dollar Notes Due 2013 [Member] | |
Debt Instrument [Line Items] | ' | ' |
Debt instrument, face amount | $400 | $750 |
Debt Instrument term, in years | '10 years | '5 years |
Debt instrument, stated interest rate | 2.75% | 4.25% |
Effective interest rate | 2.74% | ' |
Debt_LongTerm_Debt_Footnote_I_
Debt (Long-Term Debt Footnote I) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | 31-May-12 | Dec. 28, 2013 |
In Millions, unless otherwise specified | 1.75% U.S. Dollar Notes due 2017 [Member] | 1.75% U.S. Dollar Notes due 2017 [Member] | ||
Debt Instrument [Line Items] | ' | ' | ' | ' |
Debt instrument, face amount | ' | ' | $400 | ' |
Debt Instrument term, in years | ' | ' | '5 years | ' |
Debt instrument, stated interest rate | ' | ' | 1.75% | ' |
Effective interest rate | ' | ' | 1.32% | ' |
Notional amounts of interest rate swaps | 3,278 | 3,040 | ' | 400 |
Fair value adjustment for interest rate swaps | ' | ' | ' | $4 |
Debt_LongTerm_Debt_Footnote_J_
Debt (Long-Term Debt Footnote J) (Details) (1.125% U.S. Dollar Notes Due 2015 [Member], USD $) | 1 Months Ended |
In Millions, unless otherwise specified | 31-May-12 |
1.125% U.S. Dollar Notes Due 2015 [Member] | ' |
Debt Instrument [Line Items] | ' |
Debt instrument, face amount | $350 |
Debt Instrument term, in years | '3 years |
Debt instrument, stated interest rate | 1.13% |
Effective interest rate | 1.16% |
Debt_LongTerm_Debt_Footnote_K_
Debt (Long-Term Debt Footnote K) (Details) (2.10% Canadian Dollar Notes Due 2014 [Member], CAD) | 1 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2008 | 31-May-12 |
2.10% Canadian Dollar Notes Due 2014 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument, face amount | ' | 300 |
Debt Instrument term, in years | '2 years | ' |
Debt instrument, stated interest rate | ' | 2.10% |
Effective interest rate | ' | 2.11% |
Debt_LongTerm_Debt_Footnote_L_
Debt (Long-Term Debt Footnote L (Details) (USD $) | 12 Months Ended | 1 Months Ended | 1 Months Ended | |||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Feb. 28, 2013 | Dec. 28, 2013 | Mar. 31, 2008 |
Floating-rate U.S. Dollar Notes Due 2015 [Member] | Floating-rate U.S. Dollar Notes Due 2015 [Member] | 4.25% U.S. Dollar Notes Due 2013 [Member] | ||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Debt instrument, face amount | ' | ' | ' | $250 | ' | $750 |
Debt Instrument term, in years | ' | ' | ' | ' | ' | '5 years |
Debt instrument, stated interest rate | ' | ' | ' | ' | ' | 4.25% |
Debt instrument, effective interest rate | ' | ' | ' | ' | 0.47% | ' |
Repayment of long-term debt | $762 | $750 | $945 | ' | ' | $750 |
Three months Libor Plus | ' | ' | ' | 'LIBOR plus 0.23% | ' | ' |
Debt_LongTerm_Debt_Footnote_M_
Debt (Long-Term Debt Footnote M) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | Mar. 31, 2008 |
In Millions, unless otherwise specified | 4.25% U.S. Dollar Notes Due 2013 [Member] | ||
Debt Instrument [Line Items] | ' | ' | ' |
Debt instrument, face amount | ' | ' | $750 |
Debt Instrument term, in years | ' | ' | '5 years |
Debt instrument, stated interest rate | ' | ' | 4.25% |
Notional amounts of interest rate swaps | $3,278 | $3,040 | $750 |
Stock_Compensation_Equitybased
Stock Compensation (Equity-based compensation programs) (Details) (USD $) | 12 Months Ended | 12 Months Ended | ||||||||||
Dec. 28, 2013 | Feb. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
2013 Long-Term Incentive Plan [Member] | 2013 Long-Term Incentive Plan [Member] | 2009 Long-Term Incentive Plan [Member] | 2009 Non-Employee Director Stock Plan [Member] | 2009 Non-Employee Director Stock Plan [Member] | 2009 Non-Employee Director Stock Plan [Member] | 2002 Employee Stock Purchase Plan [Member] | 2002 Employee Stock Purchase Plan [Member] | 2002 Employee Stock Purchase Plan [Member] | International Subsidiary Employee Stock Purchase Plan [Member] | International Subsidiary Employee Stock Purchase Plan [Member] | International Subsidiary Employee Stock Purchase Plan [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares authorized | 22,000,000 | ' | ' | 500,000 | ' | ' | 500,000 | ' | ' | ' | ' | ' |
Vesting period, years | '3 years | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options granted remaining authorized, but unissued, shares | 27,000,000 | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares awarded | ' | ' | ' | 26,504 | 26,940 | 24,850 | ' | ' | ' | ' | ' | ' |
Maximum number of shares allowed to be issued under plan | ' | ' | ' | ' | ' | ' | 2,500,000 | ' | ' | ' | ' | ' |
Purchase price, percentage of fair market value of stock on last day of quaterly purchase period | ' | ' | ' | ' | ' | ' | 95.00% | ' | ' | ' | ' | ' |
Maximum value of purchases for any employee in any calendar year | ' | ' | ' | ' | ' | ' | $25,000 | ' | ' | ' | ' | ' |
Number of shares purchased by employees under plan | ' | ' | ' | ' | ' | ' | 85,000 | 107,000 | 110,000 | ' | ' | ' |
Shares purchased by employees under plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | 58,000 | 71,000 | 68,000 |
Contractual term, years | '10 years | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employer Matching Contribution, Percent | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' |
Shares, Issued | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares, Reduced From Remaining Available | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares, Reduced From Outstanding Award | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock_Compensation_Schedule_of
Stock Compensation (Schedule of Compensation Expense for Equity Programs and Related Tax Benefits) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Stock Compensation [Abstract] | ' | ' | ' |
Pre-tax compensation expense | $38 | $46 | $37 |
Related income tax benefit | 14 | 17 | 13 |
Non-vested stock-based compensation awards not yet recognized | $43 | ' | ' |
Weighted-average period of recognition, years | '2 years | ' | ' |
Stock_Compensation_Cash_used_t
Stock Compensation (Cash used to settle equity instruments) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Total cash received from option exercises and similiar instruments | $475 | $229 | $291 |
Windfall Benefits Classified as Financing Cash Flow [Member] | ' | ' | ' |
Total | $24 | $6 | $11 |
Stock_Compensation_Fair_Value_
Stock Compensation (Fair Value Assumptions) (Details) (USD $) | 12 Months Ended | ||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Stock Compensation [Abstract] | ' | ' | ' |
Weighted-average expected volatility | 15.00% | 16.00% | 17.00% |
Weighted-average expected term (years) | '7 years 5 months 8 days | '7 years 6 months 11 days | '6 years 11 months 26 days |
Weighted-average risk-free interest rate | 1.49% | 1.60% | 3.06% |
Dividend yield | 2.90% | 3.30% | 3.10% |
Weighted-average fair value of options granted | $5.92 | $5.23 | $7.59 |
Stock_Compensation_Summary_of_
Stock Compensation (Summary of Share-based Compensation) (Details) (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Stock Compensation [Abstract] | ' | ' | ' |
Outstanding, beginning of period - Shares | 25 | 24 | 26 |
Granted - Shares | 6 | 6 | 5 |
Exercised - shares | -10 | -4 | -6 |
Forfeitures and expirations - Shares | -1 | -1 | -1 |
Outstanding, end of period - Shares | 20 | 25 | 24 |
Exercisable, end of period - Shares | 9 | 14 | 16 |
Outstanding, beginning of period - Weighted-average exercise price | $50 | $48 | $47 |
Granted - Weighted-average exercise price | $60 | $52 | $53 |
Exercised - Weighted-average exercise price | $48 | $44 | $45 |
Forfeitures and expirations - Weighted-average exercise price | $55 | $53 | $52 |
Outstanding, end of period - Weighted-average exercise price | $54 | $50 | $48 |
Exercisable, end of period - Weighted-average exercise price | $50 | $48 | $47 |
Outstanding, end of period - Weighted-average remaining contractual term (years) | '7 years | ' | ' |
Exercisable, end of period - Weighted-average remaining contractual term (years) | '5 years 4 months 24 days | ' | ' |
Outstanding, end of period - Aggregate intrinsic value | $143 | ' | ' |
Exercisable, end of period - Aggregate intrinsic value | 101 | ' | ' |
Total intrinsic value of options exercised | $139 | $34 | $63 |
Stock_Compensation_Maximum_Fut
Stock Compensation (Maximum Future Value of Performance Shares) (Details) (USD $) | 12 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Feb. 28, 2013 |
Stock Compensation [Abstract] | ' | ' | ' | ' |
2013 Award | $23 | ' | ' | ' |
2012 Award | ' | 17 | ' | ' |
2011 Award | ' | ' | 11 | ' |
Performance share based awards cumulative target period, in years | '3 years | ' | ' | ' |
Number of shares that correspond with target grants | 208,000 | 183,000 | 117,000 | ' |
Grant-date fair value of shares that correspond with target grants | $54 | $47 | $48 | ' |
Number of performance shares that could be issued on the vesting date, minimum | 0.00% | ' | ' | ' |
Number of performance shares that could be issued on the vesting date, maximum | 200.00% | ' | ' | ' |
2010 Performance share award settlement in terms of original target | ' | ' | ' | 40.00% |
2010 Performance share award settlement in dollars | ' | ' | ' | $4 |
Stock_Compensation_Summary_of_1
Stock Compensation (Summary of restricted stock activity) (Details) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Granted - Shares | 208,000 | 183,000 | 117,000 |
Non-vested, beginning of year - Weighted-average grant-date fair value | $47 | $48 | ' |
Non-vested, end of year - Weighted-average grant-date fair value | $54 | $47 | $48 |
Restricted Stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Non-vested, beginning of year-Shares | 316,000 | ' | ' |
Granted - Shares | 139,000 | 160,000 | 102,000 |
Vested - Shares | -117,000 | ' | ' |
Forfeited - Shares | -20,000 | ' | ' |
Non-vested, end of year-Shares | 318,000 | 316,000 | ' |
Non-vested, beginning of year - Weighted-average grant-date fair value | $50 | ' | ' |
Granted - Weighted-average grant-date fair value | $52 | ' | ' |
Vested - Weighted-average grant-date fair value | $51 | ' | ' |
Forfeited - Weighted-average grant-date fair value | $47 | ' | ' |
Non-vested, end of year - Weighted-average grant-date fair value | $52 | $50 | ' |
Total fair value of restricted stock and restricted stock units vested during period | $6 | $4 | $7 |
Pension_Benefits_Change_in_Pro
Pension Benefits (Change in Projected Benefit Obligation, Plan Assets, and Funding Status) (Details) (USD $) | 12 Months Ended | |
Dec. 28, 2013 | Dec. 29, 2012 | |
Amounts recognized in the Consolidated Balance Sheet consist of | ' | ' |
Other assets | $419,000,000 | $145,000,000 |
Other liabilities | -277,000,000 | -886,000,000 |
Amounts recognized in accumulated other comprehensive income consist of | ' | ' |
Accumulated benefit obligation for all defined benefit pension plans | 4,500,000,000 | 4,700,000,000 |
Pension [Member] | ' | ' |
Change in projected benefit obligation | ' | ' |
Beginning of year | 5,135,000,000 | 4,367,000,000 |
Service cost | 133,000,000 | 110,000,000 |
Interest cost | 203,000,000 | 207,000,000 |
Plan participants' contributions | 2,000,000 | 2,000,000 |
Amendments | 4,000,000 | 23,000,000 |
Actuarial gain (loss) | -407,000,000 | 535,000,000 |
Benefits paid | -218,000,000 | -213,000,000 |
Acquisitions | 17,000,000 | 47,000,000 |
Curtailment and special termination benefits | 26,000,000 | 0 |
Foreign currency adjustments | -7,000,000 | 57,000,000 |
End of year | 4,888,000,000 | 5,135,000,000 |
Change in plan assets | ' | ' |
Fair value beginning of year | 4,374,000,000 | 3,931,000,000 |
Actual return on plan assets | 802,000,000 | 508,000,000 |
Employer contributions | 34,000,000 | 38,000,000 |
Plan participants' contributions | 2,000,000 | 2,000,000 |
Benefits paid, Plan Assets | -200,000,000 | -187,000,000 |
Acquisition | 0 | 23,000,000 |
Foreign currency adjustments | 2,000,000 | 59,000,000 |
Fair value end of year | 5,014,000,000 | 4,374,000,000 |
Funded status | 126,000,000 | -761,000,000 |
Amounts recognized in the Consolidated Balance Sheet consist of | ' | ' |
Other assets | 419,000,000 | 145,000,000 |
Other current liabilities | -16,000,000 | -20,000,000 |
Other liabilities | -277,000,000 | -886,000,000 |
Net amount recognized | 126,000,000 | -761,000,000 |
Amounts recognized in accumulated other comprehensive income consist of | ' | ' |
Prior service cost | 73,000,000 | 94,000,000 |
Net amount recognized | $73,000,000 | $94,000,000 |
Pension_Benefits_Accumulated_B
Pension Benefits (Accumulated Benefit Obligatons) (Details) (Pension [Member], USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Millions, unless otherwise specified | ||
Pension [Member] | ' | ' |
Projected benefit obligation | $327 | $3,707 |
Accumulated benefit obligation | 251 | 3,442 |
Fair value of plan assets | $58 | $2,823 |
Pension_Benefits_Components_of
Pension Benefits (Components of Pension Expense) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
401 (k) expense | $41 | $39 | $36 |
Pension [Member] | ' | ' | ' |
Service cost | 133 | 110 | ' |
Interest cost | 203 | 207 | ' |
Pension expense | -792 | 388 | 740 |
Pension [Member] | Defined Benefit Plans [Member] | ' | ' | ' |
Service cost | 133 | 110 | 96 |
Interest cost | 203 | 207 | 209 |
Expected return on plan assets | -359 | -344 | -361 |
Amortization of unrecognized prior service cost | 16 | 14 | 14 |
Recognized net loss | -854 | 372 | 747 |
Curtailment and special termination benefits - net loss | 34 | 0 | 0 |
Pension expense | -827 | 359 | 705 |
Estimated net prior service cost for defined benefit pension plans, expected to be amortized | 14 | ' | ' |
Pension [Member] | Defined Contribution Plans [Member] | ' | ' | ' |
Pension expense | $35 | $29 | $35 |
Pension_Benefits_Assumptions_D
Pension Benefits (Assumptions) (Details) | 12 Months Ended | ||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Percentage of consolidated pension and other postretirement benefit plan assets | 68.00% | ' | ' |
Pension [Member] | ' | ' | ' |
Discount rate, benefit obligations | 4.70% | 4.00% | 4.80% |
Long-term rate of compensation increase | 4.10% | 4.10% | 4.20% |
Discount rate, annual net periodic benefit cost | 4.10% | 4.80% | 5.40% |
Long-term rate of compensation increase, annual net periodic benefit cost | 4.10% | 4.20% | 4.20% |
Long-term rate of return on plan assets, annual net periodic benefit cost | 8.50% | 8.90% | 8.90% |
Long-term inflation assumption | 2.50% | ' | ' |
Active management premium | 1.00% | ' | ' |
Expected rate of return on foreign plan assets | 8.50% | ' | ' |
Pension_Benefits_Plan_assets_D
Pension Benefits (Plan assets) (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 |
Minimum [Member] | Maximum [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Domestic [Member] | Domestic [Member] | Domestic [Member] | Domestic [Member] | Domestic [Member] | Domestic [Member] | Domestic [Member] | Domestic [Member] | Domestic [Member] | Domestic [Member] | Domestic [Member] | Domestic [Member] | Domestic [Member] | Domestic [Member] | Domestic [Member] | Domestic [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Foreign [Member] | Eurozone sovereign debt | Eurozone sovereign debt | Eurozone sovereign debt | Eurozone sovereign debt | Eurozone sovereign debt | Eurozone sovereign debt | Eurozone sovereign debt | Eurozone sovereign debt | US High Quality Bonds [Member] | US High Quality Bonds [Member] | Canada And Europe [Member] | Canada And Europe [Member] | ||
Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Cash and Cash Equivalents [Member] | Cash and Cash Equivalents [Member] | Cash and Cash Equivalents [Member] | Cash and Cash Equivalents [Member] | Cash and Cash Equivalents [Member] | Cash and Cash Equivalents [Member] | Cash and Cash Equivalents [Member] | Cash and Cash Equivalents [Member] | Debt Securities [Member] | Corporate Stock, Common [Member] | Limited partnerships [Member] | Limited partnerships [Member] | Limited partnerships [Member] | Limited partnerships [Member] | Limited partnerships [Member] | Limited partnerships [Member] | Limited partnerships [Member] | Limited partnerships [Member] | Bonds, Corporate [Member] | Bonds, Corporate [Member] | Bonds, Corporate [Member] | Bonds, Corporate [Member] | Bonds, Corporate [Member] | Bonds, Corporate [Member] | Bonds, Corporate [Member] | Bonds, Corporate [Member] | Bonds, Corporate [Member] | Bonds, Government [Member] | Bonds, Government [Member] | Bonds, Government [Member] | Bonds, Government [Member] | Bonds, Government [Member] | Bonds, Government [Member] | Bonds, Government [Member] | Bonds, Government [Member] | Bonds, Other [Member] | Bonds, Other [Member] | Bonds, Other [Member] | Bonds, Other [Member] | Bonds, Other [Member] | Bonds, Other [Member] | Bonds, Other [Member] | Bonds, Other [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Other [Member] | Other [Member] | Other [Member] | Other [Member] | Other [Member] | Other [Member] | Other [Member] | Other [Member] | Other [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | Pension [Member] | |||||||
Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Corporate Stock, Common [Member] | Corporate Stock, Common [Member] | Corporate Stock, Common [Member] | Corporate Stock, Common [Member] | Corporate Stock, Common [Member] | Corporate Stock, Common [Member] | Corporate Stock, Common [Member] | Corporate Stock, Common [Member] | Collective Trusts, Equity Investments [Member] | Collective Trusts, Equity Investments [Member] | Collective Trusts, Equity Investments [Member] | Collective Trusts, Equity Investments [Member] | Collective Trusts, Equity Investments [Member] | Collective Trusts, Equity Investments [Member] | Collective Trusts, Equity Investments [Member] | Collective Trusts, Equity Investments [Member] | Corporate Stock, Common [Member] | Corporate Stock, Common [Member] | Corporate Stock, Common [Member] | Corporate Stock, Common [Member] | Corporate Stock, Common [Member] | Corporate Stock, Common [Member] | Corporate Stock, Common [Member] | Corporate Stock, Common [Member] | Mutual Funds, Equity Investments [Member] | Mutual Funds, Equity Investments [Member] | Mutual Funds, Equity Investments [Member] | Mutual Funds, Equity Investments [Member] | Mutual Funds, Equity Investments [Member] | Mutual Funds, Equity Investments [Member] | Mutual Funds, Equity Investments [Member] | Mutual Funds, Equity Investments [Member] | Mutual Funds, Debt Investments [Member] | Mutual Funds, Debt Investments [Member] | Mutual Funds, Debt Investments [Member] | Mutual Funds, Debt Investments [Member] | Mutual Funds, Debt Investments [Member] | Mutual Funds, Debt Investments [Member] | Mutual Funds, Debt Investments [Member] | Mutual Funds, Debt Investments [Member] | Collective Trusts, Equity Investments [Member] | Collective Trusts, Equity Investments [Member] | Collective Trusts, Equity Investments [Member] | Collective Trusts, Equity Investments [Member] | Collective Trusts, Equity Investments [Member] | Collective Trusts, Equity Investments [Member] | Collective Trusts, Equity Investments [Member] | Collective Trusts, Equity Investments [Member] | Collective Trusts, Debt Investments [Member] | Collective Trusts, Debt Investments [Member] | Collective Trusts, Debt Investments [Member] | Collective Trusts, Debt Investments [Member] | Collective Trusts, Debt Investments [Member] | Collective Trusts, Debt Investments [Member] | Collective Trusts, Debt Investments [Member] | Collective Trusts, Debt Investments [Member] | Collective Trusts, Debt Investments [Member] | Collective Trusts, Debt Investments [Member] | Collective Trusts, Debt Investments [Member] | Collective Trusts, Debt Investments [Member] | Collective Trusts, Debt Investments [Member] | Collective Trusts, Debt Investments [Member] | Collective Trusts, Debt Investments [Member] | Collective Trusts, Debt Investments [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||
Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of Plan assets | ' | ' | ' | $5,014 | $4,374 | $3,931 | $901 | $758 | $3,979 | $3,492 | $134 | $124 | $112 | $111 | $61 | $28 | $29 | $83 | $32 | $0 | $0 | ' | ' | $468 | $275 | $0 | $0 | $468 | $275 | $0 | $0 | $371 | $441 | $0 | $0 | $370 | $441 | $1 | $0 | $1 | $123 | $150 | $0 | $0 | $123 | $150 | $0 | $0 | $52 | $66 | $0 | $0 | $52 | $66 | $0 | $0 | $125 | $115 | $0 | $0 | $0 | $0 | $125 | $115 | $105 | $90 | $20 | $0 | $4 | $82 | $7 | $8 | $9 | $6 | $576 | $466 | $576 | $466 | $0 | $0 | $0 | $0 | $737 | $535 | $0 | $0 | $737 | $535 | $0 | $0 | $297 | $259 | $297 | $259 | $0 | $0 | $0 | $0 | $726 | $717 | $0 | $0 | $726 | $717 | $0 | $0 | $54 | $58 | $0 | $0 | $54 | $58 | $0 | $0 | $982 | $920 | $0 | $0 | $982 | $920 | $0 | $0 | $288 | $274 | $0 | $0 | $288 | $274 | $0 | $0 | $14 | $17 | $0 | $0 | $14 | $17 | $0 | $0 | ' | ' | ' | ' |
Weighted-average target asset allocation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22.00% | 72.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of consolidated plan assets represented by investment in Company common stock | 1.30% | ' | ' | 1.20% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected contributions by company | ' | ' | ' | $43 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment horizon (in years) used to determine expected long-term rate of return on plan assets | ' | ' | ' | '20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected rates of return | ' | '25th percentile | '75th percentile | '60th percentile | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount rate assumptions, bond yield percentile | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '40th percentile | '90th percentile | '10th percentile | '90th percentile |
Pension_Benefits_Level_3_Gains
Pension Benefits (Level 3 Gains and Losses) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
Pension [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value beginning of year | $4,374 | $3,931 |
Purchases | 0 | 23 |
Fair value end of year | 5,014 | 4,374 |
Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Gain included in net change in Level 3 assets | 8 | 8 |
Level 3 [Member] | Pension [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value beginning of year | 124 | 112 |
Purchases | 3 | 1 |
Sales | -1 | -1 |
Realized and unrealized gain (loss) | 8 | 8 |
Transfer out | ' | 4 |
Currency translation | 0 | ' |
Fair value end of year | 134 | 124 |
Bonds, Corporate [Member] | Pension [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value end of year | 371 | 441 |
Bonds, Corporate [Member] | Level 3 [Member] | Pension [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value beginning of year | 0 | 1 |
Purchases | 1 | 0 |
Sales | 0 | -1 |
Realized and unrealized gain (loss) | 0 | 0 |
Transfer out | ' | 0 |
Currency translation | 0 | ' |
Fair value end of year | 1 | 0 |
Bonds, Other [Member] | Pension [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value end of year | 52 | 66 |
Bonds, Other [Member] | Level 3 [Member] | Pension [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value end of year | 0 | 0 |
Real Estate [Member] | Pension [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value end of year | 125 | 115 |
Real Estate [Member] | Level 3 [Member] | Pension [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value beginning of year | 115 | 105 |
Purchases | 1 | 0 |
Sales | 0 | 0 |
Realized and unrealized gain (loss) | 8 | 6 |
Transfer out | ' | 4 |
Currency translation | 1 | ' |
Fair value end of year | 125 | 115 |
Other [Member] | Pension [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value end of year | 90 | 20 |
Other [Member] | Level 3 [Member] | Pension [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value beginning of year | 9 | 6 |
Purchases | 1 | 1 |
Sales | -1 | 0 |
Realized and unrealized gain (loss) | 0 | 2 |
Transfer out | ' | 0 |
Currency translation | -1 | ' |
Fair value end of year | $8 | $9 |
Pension_Benefits_Benefit_Payme
Pension Benefits (Benefit Payments) (Details) (Pension [Member], USD $) | Dec. 28, 2013 |
In Millions, unless otherwise specified | |
Pension [Member] | ' |
Benefit payments in 2014 | $252 |
Benefit payments in 2015 | 418 |
Benefit payments in 2016 | 263 |
Benefit payments in 2017 | 254 |
Benefit payments in 2018 | 263 |
Benefit payments in 2019 through 2023 | $1,498 |
Nonpension_Postretirement_and_2
Nonpension Postretirement and Postemployment Benefits (Change in Projected Benefit Obligations, Plan Assets, and Funded Status, Postretirement) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
Amounts recognized in the Consolidated Balance Sheet consist of | ' | ' |
Other assets | $419 | $145 |
Other liabilities | -68 | -281 |
Nonpension Postretirement [Member] | ' | ' |
Defined Benefit Plan Change In Accumulated Benefit Obligation Rollforward [Abstract] | ' | ' |
Beginning of year | 1,323 | 1,155 |
Service cost | 34 | 27 |
Interest cost | 50 | 53 |
Actuarial gain (loss) | -145 | 115 |
Benefits paid | -56 | -62 |
Curtailment and special termination benefits | 1 | 0 |
Acquisitions | 0 | 34 |
Foreign currency adjustments | -5 | 1 |
End of year | 1,202 | 1,323 |
Defined Benefit Plan, Assets for Plan Benefits [Abstract] | ' | ' |
Fair value beginning of year | 1,040 | 965 |
Actual return on plan assets | 188 | 132 |
Employer contributions | 14 | 13 |
Benefits paid, Plan Assets | -64 | -70 |
Fair value end of year | 1,178 | 1,040 |
Funded status | -24 | -283 |
Amounts recognized in the Consolidated Balance Sheet consist of | ' | ' |
Other assets | -47 | 0 |
Other current liabilities | -3 | -2 |
Other liabilities | -68 | -281 |
Net amount recognized | -24 | -283 |
Amounts recognized in accumulated other comprehensive income consist of | ' | ' |
Prior service cost | -1 | -3 |
Net amount recognized | ($1) | ($3) |
Nonpension_Postretirement_and_3
Nonpension Postretirement and Postemployment Benefits (Components of Postretirement Expense, Postretirement) (Details) (Nonpension Postretirement [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | $34 | $27 | ' |
Interest cost | 50 | 53 | ' |
Postretirement benefit expense | -238 | 73 | -7 |
Amortization prior service cost | 3 | ' | ' |
Defined Benefit Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | 34 | 27 | 23 |
Interest cost | 50 | 53 | 62 |
Expected return on plan assets | -86 | -84 | -87 |
Amortization of unrecognized prior service cost | -3 | -2 | -3 |
Recognized net loss | -247 | 66 | -16 |
Curtailment and special termination benefits - net loss | 1 | 0 | 0 |
Postretirement benefit expense | -251 | 60 | -21 |
Defined Contribution Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Postretirement benefit expense | $13 | $13 | $14 |
Nonpension_Postretirement_and_4
Nonpension Postretirement and Postemployment Benefits (Assumptions) (Details) (Nonpension Postretirement [Member]) | 12 Months Ended | ||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Nonpension Postretirement [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Discount rate, benefit obligations | 4.80% | 3.90% | 4.60% |
Discount rate, annual net periodic benefit cost | 3.90% | 4.60% | 5.30% |
Long-term rate of return on plan assets, annual net periodic benefit cost | 8.50% | 8.90% | 8.90% |
Nonpension_Postretirement_and_5
Nonpension Postretirement and Postemployment Benefits (Health Care Cost Trend Rates) (Details) (Nonpension Postretirement [Member], USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 28, 2013 |
Nonpension Postretirement [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Assumed health care cost trend rate | 5.30% |
Assumed health care cost trend rate by year 2017 | 4.50% |
Effect on total of service and interest cost components, one percentage point increase | $11 |
Effect on total of service and interest cost components, one percentage point decrease | -9 |
Effect on postretirement benefit obligation, one percentage point increase | 132 |
Effect on postretirement benefit obligation, one percentage point decrease | ($110) |
Nonpension_Postretirement_and_6
Nonpension Postretirement and Postemployment Benefits (Plan Assets) (Details) (Nonpension Postretirement [Member], USD $) | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | $1,178 | $1,040 | $965 |
Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 253 | 199 | ' |
Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 925 | 841 | ' |
Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 46 | 17 | ' |
Cash and Cash Equivalents [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 7 | 5 | ' |
Cash and Cash Equivalents [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 39 | 12 | ' |
Cash and Cash Equivalents [Member] | Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Limited partnerships [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 169 | 101 | ' |
Limited partnerships [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Limited partnerships [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 169 | 101 | ' |
Limited partnerships [Member] | Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Bonds, Corporate [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 130 | 142 | ' |
Bonds, Corporate [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Bonds, Corporate [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 130 | 142 | ' |
Bonds, Corporate [Member] | Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Bonds, Government [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 39 | 49 | ' |
Bonds, Government [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Bonds, Government [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 39 | 49 | ' |
Bonds, Government [Member] | Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Bonds, Other [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 16 | 17 | ' |
Bonds, Other [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Bonds, Other [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 16 | 17 | ' |
Bonds, Other [Member] | Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Other [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 1 | 2 | ' |
Other [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 2 | ' |
Other [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 1 | 0 | ' |
Other [Member] | Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Domestic Country [Member] | Corporate Stock, Common [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 231 | 174 | ' |
Domestic Country [Member] | Corporate Stock, Common [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 231 | 174 | ' |
Domestic Country [Member] | Corporate Stock, Common [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Domestic Country [Member] | Corporate Stock, Common [Member] | Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Domestic Country [Member] | Mutual Funds, Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 167 | 63 | ' |
Domestic Country [Member] | Mutual Funds, Equity Investments [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Domestic Country [Member] | Mutual Funds, Equity Investments [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 167 | 63 | ' |
Domestic Country [Member] | Mutual Funds, Equity Investments [Member] | Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Domestic Country [Member] | Mutual Funds, Debt Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 57 | 60 | ' |
Domestic Country [Member] | Mutual Funds, Debt Investments [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Domestic Country [Member] | Mutual Funds, Debt Investments [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 57 | 60 | ' |
Domestic Country [Member] | Mutual Funds, Debt Investments [Member] | Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Domestic Country [Member] | Collective Trusts, Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 14 | 126 | ' |
Domestic Country [Member] | Collective Trusts, Equity Investments [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Domestic Country [Member] | Collective Trusts, Equity Investments [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 14 | 126 | ' |
Domestic Country [Member] | Collective Trusts, Equity Investments [Member] | Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Foreign Country [Member] | Corporate Stock, Common [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 15 | 18 | ' |
Foreign Country [Member] | Corporate Stock, Common [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 15 | 18 | ' |
Foreign Country [Member] | Corporate Stock, Common [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Foreign Country [Member] | Corporate Stock, Common [Member] | Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Foreign Country [Member] | Mutual Funds, Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 124 | 161 | ' |
Foreign Country [Member] | Mutual Funds, Equity Investments [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Foreign Country [Member] | Mutual Funds, Equity Investments [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 124 | 161 | ' |
Foreign Country [Member] | Mutual Funds, Equity Investments [Member] | Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Foreign Country [Member] | Collective Trusts, Equity Investments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 169 | 110 | ' |
Foreign Country [Member] | Collective Trusts, Equity Investments [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
Foreign Country [Member] | Collective Trusts, Equity Investments [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 169 | 110 | ' |
Foreign Country [Member] | Collective Trusts, Equity Investments [Member] | Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | $0 | $0 | ' |
Nonpension_Postretirement_and_7
Nonpension Postretirement and Postemployment Benefits (VEBA Trusts) (Details) (Nonpension Postretirement [Member], VEBA Trusts [Member], USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 28, 2013 |
Company's Asset Investment Strategy for its VEBA Trusts [Line Items] | ' |
Expected contributions by company | $14 |
Corporate Stock, Common [Member] | ' |
Company's Asset Investment Strategy for its VEBA Trusts [Line Items] | ' |
Weighted-average target asset allocation | 75.00% |
Debt Securities [Member] | ' |
Company's Asset Investment Strategy for its VEBA Trusts [Line Items] | ' |
Weighted-average target asset allocation | 25.00% |
Nonpension_Postretirement_and_8
Nonpension Postretirement and Postemployment Benefits (Change in Projected Benefit Obligations, Plan Assets, and Funded Status, Postemployment) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Amounts recognized in the Consolidated Balance Sheet consist of | ' | ' | ' |
Pension | $419 | $145 | ' |
Postemployment [Member] | ' | ' | ' |
Defined Benefit Plan Change In Accumulated Benefit Obligation Rollforward [Abstract] | ' | ' | ' |
Beginning of year | 103 | 93 | ' |
Service cost | 7 | 7 | 6 |
Interest cost | 3 | 4 | 4 |
Actuarial loss | -17 | 7 | ' |
Benefits paid | -9 | -8 | ' |
End of year | 87 | 103 | 93 |
Funded status | -87 | -103 | ' |
Amounts recognized in the Consolidated Balance Sheet consist of | ' | ' | ' |
Other current liabilities | -8 | -10 | ' |
Other liabilities | -79 | -93 | ' |
Net amount recognized | -87 | -103 | ' |
Amounts recognized in accumulated other comprehensive income consist of | ' | ' | ' |
Net experience loss | 25 | 46 | ' |
Net amount recognized | $25 | $46 | ' |
Nonpension_Postretirement_and_9
Nonpension Postretirement and Postemployment Benefits (Components of Postretirement Expense, Postemployment) (Details) (Postemployment [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Postemployment [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | $7 | $7 | $6 |
Interest cost | 3 | 4 | 4 |
Recognized net loss | 5 | 5 | 5 |
Postemployment benefit expense | 15 | 16 | 15 |
Estimated net experience loss for defined benefit pension plans, expected to be amortized | $3 | ' | ' |
Recovered_Sheet1
Nonpension Postretirement and Postemployment Benefits (Benefit Payments) (Details) (USD $) | Dec. 28, 2013 |
In Millions, unless otherwise specified | |
Nonpension Postretirement [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2014 | $68 |
2015 | 69 |
2016 | 70 |
2017 | 71 |
2018 | 72 |
2019 - 2023 | 385 |
Postemployment [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2014 | 8 |
2015 | 8 |
2016 | 7 |
2017 | 8 |
2018 | 8 |
2019 - 2023 | $41 |
Recovered_Sheet2
Multiemployer Pension And Postretirement Plans (Narrative) (Details) | 12 Months Ended |
Dec. 28, 2013 | |
Minimum [Member] | ' |
Multiemployer Plans [Line Items] | ' |
Red zone multiemployer plans funded percentage | 0.00% |
Yellow zone multiemployer plans funded percentage | 65.00% |
Green zone multiemployer plan funded percentage | 80.00% |
Maximum [Member] | ' |
Multiemployer Plans [Line Items] | ' |
Red zone multiemployer plans funded percentage | 65.00% |
Yellow zone multiemployer plans funded percentage | 80.00% |
Recovered_Sheet3
Multiemployer Pension And Postretirement Plans (Multiemplyer Pension Plans Trust Funds) (Details) (USD $) | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Feb. 28, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |||||||||||
Bakery and Confectionary Union and Industry International Pension Fund [Member] | Bakery and Confectionary Union and Industry International Pension Fund [Member] | Bakery and Confectionary Union and Industry International Pension Fund [Member] | Bakery and Confectionary Union and Industry International Pension Fund [Member] | Bakery and Confectionary Union and Industry International Pension Fund [Member] | Central States, Southeast and Southwest Areas Pension Fund [Member] | Central States, Southeast and Southwest Areas Pension Fund [Member] | Central States, Southeast and Southwest Areas Pension Fund [Member] | Western Conference of Teamsters Pension Trust [Member] | Western Conference of Teamsters Pension Trust [Member] | Western Conference of Teamsters Pension Trust [Member] | Hagerstown Motor Carriers and Teamsters Pension Fund [Member] | Hagerstown Motor Carriers and Teamsters Pension Fund [Member] | Hagerstown Motor Carriers and Teamsters Pension Fund [Member] | Local 734 Pension Plan [Member] | Local 734 Pension Plan [Member] | Local 734 Pension Plan [Member] | Twin Cities Bakery Drivers Pension Plan [Member] | Twin Cities Bakery Drivers Pension Plan [Member] | Twin Cities Bakery Drivers Pension Plan [Member] | Upstate New York Bakery Drivers and Industry Pension Fund [Member] | Upstate New York Bakery Drivers and Industry Pension Fund [Member] | Upstate New York Bakery Drivers and Industry Pension Fund [Member] | Other Plans [Member] | Other Plans [Member] | Other Plans [Member] | |||||||||||||||
CBA Expiring 2017 | CBA Expiring 2013 | |||||||||||||||||||||||||||||||||||||||
Multiemployer Plans [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Entity Tax Identification Number | ' | ' | ' | '526118572 | [1] | ' | ' | ' | ' | '366044243 | [2] | ' | ' | '916145047 | [3] | ' | ' | '526045424 | ' | ' | '516040136 | ' | ' | '416172265 | ' | ' | '150612437 | ' | ' | ' | ' | ' | ||||||||
Multiemployer Plan Number | ' | ' | ' | '001 | [1] | ' | ' | ' | ' | '001 | [2] | ' | ' | '001 | [3] | ' | ' | '001 | ' | ' | '001 | ' | ' | '001 | ' | ' | '001 | ' | ' | ' | ' | ' | ||||||||
Multiemployer Plans, Certified Zone Status | ' | ' | ' | 'Red | [1] | 'Red | [1] | ' | ' | ' | 'Red | [2] | 'Red | [2] | ' | 'Green | [3] | 'Green | [3] | ' | 'Red | 'Red | ' | 'Red | 'Red | ' | 'Red | 'Red | ' | 'Green | 'Green | ' | ' | ' | ' | |||||
Multiemployer Plans, Certified Zone Status Date | ' | ' | ' | 31-Dec-13 | [1] | 31-Dec-12 | [1] | ' | ' | ' | 31-Dec-13 | [2] | 31-Dec-12 | [2] | ' | 31-Dec-13 | [3] | 31-Dec-12 | [3] | ' | 30-Jun-14 | 30-Jun-13 | ' | 30-Apr-14 | 30-Apr-13 | ' | 31-Dec-13 | 31-Dec-12 | ' | 30-Jun-13 | 30-Jun-12 | ' | ' | ' | ' | |||||
Multiemployer Plans, Funding Improvement Plan and Rehabilitation Plan | ' | ' | ' | 'Implemented | [1] | ' | ' | ' | ' | 'Implemented | [2] | ' | ' | 'NA | [3] | ' | ' | 'Implemented | ' | ' | 'Implemented | ' | ' | 'Implemented | ' | ' | 'NA | ' | ' | ' | ' | ' | ||||||||
Multiemployer Plan, company contributions | $14.50 | $13.50 | $12.60 | $5.20 | [1] | $4.80 | [1] | $4.30 | [1] | ' | ' | $4.50 | [2] | $4.30 | [2] | $4.10 | [2] | $1.50 | [3] | $1.30 | [3] | $1.20 | [3] | $0.50 | $0.40 | $0.40 | $0.30 | $0.30 | $0.30 | $0.20 | $0.20 | $0.20 | $0.10 | $0.10 | $0.10 | $2.20 | $2.10 | $2 | ||
Multiemployer Plans, Surcharge | ' | ' | ' | 'Yes | [1] | ' | ' | ' | ' | 'Yes | [2] | ' | ' | 'No | [3] | ' | ' | 'No | ' | ' | 'Yes | ' | ' | 'Yes | ' | ' | 'No | ' | ' | ' | ' | ' | ||||||||
Multiemployer Plans, collective bargaining arrangement first expiration date | ' | ' | ' | 31-Oct-15 | [1] | ' | ' | ' | ' | 31-Mar-14 | [2] | ' | ' | 31-Jan-15 | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Multiemployer Plans, collective bargaining arrangement last expiration date | ' | ' | ' | 30-Apr-17 | [1] | ' | ' | ' | ' | 31-Dec-16 | [2] | ' | ' | 29-Mar-18 | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Multiemployer Plans, collective bargaining arrangement expiration date | ' | ' | ' | 30-Apr-17 | [1] | ' | ' | ' | ' | 27-Jul-14 | [2] | ' | ' | 24-Mar-18 | [3] | ' | ' | 3-Oct-15 | ' | ' | 1-Apr-15 | ' | ' | 31-May-15 | ' | ' | 7-Sep-14 | ' | ' | ' | ' | ' | ||||||||
Multiemployer Plans, percentage of employees covered by single collective bargaining arrangement | ' | ' | ' | ' | ' | ' | 70.00% | [1] | 15.00% | [1] | 40.00% | [2] | ' | ' | 40.00% | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
[1] | The Company is party to multiple CBAs requiring contributions to this fund, each with its own expiration date. Over 70 percent of the Company's participants in this fund are covered by a single CBA that expires on 4/30/2017. Another CBA, covering 15% of the Company's participants in this fund, expired in 2013 and is currently under negotiation. | |||||||||||||||||||||||||||||||||||||||
[2] | The Company is party to multiple CBAs requiring contributions to this fund, each with its own expiration date. Over 40 percent of the Company's participants in this fund are covered by a single CBA that expires on 7/27/2014. | |||||||||||||||||||||||||||||||||||||||
[3] | The Company is party to multiple CBAs requiring contributions to this fund, each with its own expiration date. Over 40 percent of the Company's participants in this fund are covered by a single CBA that expires on 3/24/2018. |
Multiemployer_Pension_And_Post2
Multiemployer Pension And Postretirement Plans (Multiemplyer Pension Plans Trust Funds Contributions) (Details) | 12 Months Ended | |||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Jan. 01, 2011 | |
Hagerstown Motor Carriers and Teamsters Pension Fund [Member] | ' | ' | ' | ' |
Multiemployer Plans [Line Items] | ' | ' | ' | ' |
Period Contributions above 5% | 'true | ' | ' | ' |
Plan year end date contributions to pension plan exceeded 5 percent of total contributions | '2013-06-30 | '2012-06-30 | '2011-06-30 | ' |
Local 734 Pension Plan [Member] | ' | ' | ' | ' |
Multiemployer Plans [Line Items] | ' | ' | ' | ' |
Period Contributions above 5% | 'true | ' | ' | ' |
Plan year end date contributions to pension plan exceeded 5 percent of total contributions | '2013-04-30 | '2012-04-30 | ' | ' |
Twin Cities Bakery Drivers Pension Plan [Member] | ' | ' | ' | ' |
Multiemployer Plans [Line Items] | ' | ' | ' | ' |
Period Contributions above 5% | 'true | ' | ' | ' |
Plan year end date contributions to pension plan exceeded 5 percent of total contributions | ' | '2012-12-31 | '2011-12-31 | '2010-12-31 |
Upstate New York Bakery Drivers and Industry Pension Fund [Member] | ' | ' | ' | ' |
Multiemployer Plans [Line Items] | ' | ' | ' | ' |
Period Contributions above 5% | 'true | ' | ' | ' |
Plan year end date contributions to pension plan exceeded 5 percent of total contributions | '2013-06-30 | '2012-06-30 | ' | ' |
Multiemployer_Pension_And_Post3
Multiemployer Pension And Postretirement Plans (Multiemplyer Pension Plans Curtailments, Settlements and Termination Benefits) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Multiemployer Plans [Line Items] | ' | ' | ' |
Multiemployer Plan, withdrawal liability cash obligation payable in years | '20 years | ' | ' |
Multiemployer Plan, company contributions | $14.50 | $13.50 | $12.60 |
Multiemployer Pension Plans Defined Benefit [Member] | ' | ' | ' |
Multiemployer Plans [Line Items] | ' | ' | ' |
Multiemployer Plans, withdrawal obligation | 0 | -5 | 5 |
Multiemployer Other Postretirement Benefit Plans Defined Benefit Member [Member] | ' | ' | ' |
Multiemployer Plans [Line Items] | ' | ' | ' |
Multiemployer Plan, company contributions | $13 | $13 | $14 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
Oct. 01, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Effective income tax rate | ' | 30.40% | 27.40% | 27.00% |
Tax benefit for change in United Kingdom statutory tax rate | $7,000,000 | ' | ' | ' |
Accumulated foreign earnings considered permanently reinvested | ' | 2,200,000,000 | 1,700,000,000 | ' |
Deferred taxes related to remaining unremitted foreign earnings | ' | 2,000,000 | 5,000,000 | ' |
Unremitted foreign earnings | ' | 24,000,000 | 258,000,000 | ' |
Reversal of valuation allowance against U.S. foreign tax credits | ' | -3.50% | -4.40% | -4.90% |
Tax benefits of carryforwards | ' | 55,000,000 | 61,000,000 | ' |
Valuation allowances | ' | 49,000,000 | 50,000,000 | ' |
Cash paid for income taxes | ' | 426,000,000 | 508,000,000 | 271,000,000 |
Percentage of provision for U.S. Federal income taxes to consolidated income tax provision | ' | 80.00% | ' | ' |
Unrecognized tax benefits classified as a current liability | ' | 10,000,000 | ' | ' |
Projected additions to unrecognized tax benefits related primarily to ongoing intercompany transfer pricing activity | ' | 9,000,000 | ' | ' |
Unrecognized tax benefits that would affect the Company's effective tax rate in future periods | ' | 56,000,000 | ' | ' |
Increase or (reduction) in tax-related interest and penalties | ' | 4,000,000 | 4,000,000 | -3,000,000 |
Accrued tax-related interest and penalties | ' | 17,000,000 | 19,000,000 | 16,000,000 |
Penalties and cash settlements | ' | $6,000,000 | ' | ' |
Income_Taxes_Income_before_inc
Income Taxes (Income before income taxes and the provision for U.S. federal, state, and foreign taxes on earnings) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
Income before income taxes, United States | $2,102 | $1,008 | $935 |
Income before income taxes, Foreign | 504 | 317 | 249 |
Income before income taxes | 2,606 | 1,325 | 1,184 |
Income taxes, currently payable, Federal | 302 | 383 | 285 |
Income taxes, currently payable, State | 68 | 34 | 26 |
Income taxes, currently payable, Foreign | 105 | 105 | 108 |
Income taxes, currently payable | 475 | 522 | 419 |
Income taxes, deferred, Federal | 331 | -129 | -57 |
Income taxes, deferred, State | -2 | 8 | 3 |
Income taxes, deferred, Foreign | -12 | -38 | -45 |
Income taxes, deferred | 317 | -159 | -99 |
Total income taxes | $792 | $363 | $320 |
Income_Taxes_Difference_Betwee
Income Taxes (Difference Between U.S. Federal Statutory Tax Rate and the Company's Effective Income Tax Rate) (Details) | 12 Months Ended | ||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Income Taxes [Abstract] | ' | ' | ' |
U.S. statutory income tax rate | 35.00% | 35.00% | 35.00% |
Foreign rates varying from 35% | -3.50% | -4.40% | -4.90% |
State income taxes, net of federal benefit | 1.70% | 2.10% | 1.60% |
Cost (benefit) of remitted and unremitted foreign earnings | -0.40% | -1.80% | -1.80% |
Tax audit activity | -0.10% | 0.00% | -0.50% |
Net change in valuation allowances | 0.40% | 0.80% | 0.90% |
Statutory rate changes, deferred tax impact | -0.50% | -0.30% | -0.50% |
U.S. deduction for qualified production activities | -0.90% | -2.10% | -1.80% |
Other | -1.30% | -1.90% | -1.00% |
Effective income tax rate | 30.40% | 27.40% | 27.00% |
Income_Taxes_Deferred_tax_asse
Income Taxes (Deferred tax assets and deferred tax liabilities) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Jan. 01, 2011 |
In Millions, unless otherwise specified | ||||
Deferred tax assets, U.S. state income taxes | $13 | $7 | ' | ' |
Deferred tax liabilities, U.S. state income taxes | 61 | 63 | ' | ' |
Deferred tax assets, advertising and promotion related | 23 | 23 | ' | ' |
Deferred tax liabilities, advertising and promotion related | 0 | 0 | ' | ' |
Deferred tax assets, wages and payroll taxes | 36 | 26 | ' | ' |
Deferred tax assets, inventory valuation | 37 | 22 | ' | ' |
Deferred tax assets, employee benefits | 65 | 426 | ' | ' |
Deferred tax liabilities, employee benefits | 0 | 0 | ' | ' |
Deferred tax assets, operating loss carryforwards | 55 | 61 | ' | ' |
Deferred tax assets, hedging transactions | 10 | 2 | ' | ' |
Deferred tax liabilities, hedging transactions | 0 | 0 | ' | ' |
Deferred tax assets, depreciation and asset disposals | 0 | 0 | ' | ' |
Deferred tax liabilities, depreciation and asset disposals | 366 | 386 | ' | ' |
Deferred tax assets, capitalized interest | 0 | 0 | ' | ' |
Deferred tax liabilities, capitalized interest | 0 | 0 | ' | ' |
Deferred tax liabilities, trademarks and other intangibles | 529 | 496 | ' | ' |
Deferred tax assets, deferred compensation | 36 | 39 | ' | ' |
Deferred tax assets, stock options | 36 | 51 | ' | ' |
Deferred tax liabilities, unremitted foreign earnings | 2 | 5 | ' | ' |
Deferred tax assets, other | 109 | 90 | ' | ' |
Deferred tax liabilities, other | 0 | 0 | ' | ' |
Deferred tax assets, gross | 420 | 747 | ' | ' |
Deferred tax liabilities, gross | 958 | 950 | ' | ' |
Deferred tax assets, less valuation allowance | -61 | -59 | -46 | -36 |
Total deferred tax assets | 359 | 688 | ' | ' |
Net deferred tax asset (liability) | -599 | -262 | ' | ' |
Other Current Assets [Member] | ' | ' | ' | ' |
Net deferred tax asset (liability) | 195 | 159 | ' | ' |
Other Current Liabilities [Member] | ' | ' | ' | ' |
Net deferred tax asset (liability) | -13 | -8 | ' | ' |
Other Assets [Member] | ' | ' | ' | ' |
Net deferred tax asset (liability) | 147 | 110 | ' | ' |
Other Liabilities [Member] | ' | ' | ' | ' |
Net deferred tax asset (liability) | ($928) | ($523) | ' | ' |
Income_Taxes_Change_In_Valuati
Income Taxes (Change In Valuation Allowance Against Deferred Tax Assets) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
Balance at beginning of year | $59 | $46 | $36 |
Additions charged to income tax expense | 17 | 12 | 12 |
Reductions credited to income tax expense | -3 | 0 | -1 |
Other | -10 | 0 | 0 |
Currency translation adjustments | -2 | 1 | -1 |
Balance at end of year | $61 | $59 | $46 |
Income_Taxes_Unrecognized_tax_
Income Taxes (Unrecognized tax benefit reconciliation) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
Balance at beginning of year | $80 | $66 | $104 |
Additions, current year | 9 | 8 | 7 |
Additions, prior years | 17 | 14 | 8 |
Reductions, prior years | -13 | -4 | -19 |
Settlements | -14 | -1 | -27 |
Lapses in statutes of limitation | 0 | -3 | -7 |
Balance at end of year | $79 | $80 | $66 |
Derivative_Instruments_and_Fai2
Derivative Instruments and Fair Value Measurements (Narrative) (Details) (USD $) | Dec. 28, 2013 |
In Millions, unless otherwise specified | |
Fair value of derivative instruments with credit-risk-related contingent features in a liability position | $87 |
Additional collateral required to be posted if the credit-risk related contingent features were triggered | 78 |
Collateral already posted | $9 |
Five largest customers percentage of consolidated trade receivables | 29.00% |
Derivative_Instruments_and_Fai3
Derivative Instruments and Fair Value Measurements (Total Notional Amounts of the Company's Derivative Instruments) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Millions, unless otherwise specified | ||
Notional amount of derivatives | $3,278 | $3,040 |
Foreign Currency Exchange Contracts [Member] | ' | ' |
Notional amount of derivatives | 517 | 570 |
Interest Rate Contracts [Member] | ' | ' |
Notional amount of derivatives | 2,400 | 2,150 |
Commodity Contracts [Member] | ' | ' |
Notional amount of derivatives | $361 | $320 |
Derivative_Instruments_and_Fai4
Derivative Instruments and Fair Value Measurements (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | ||
Designated as Hedging Instrument [Member] | ' | ' | ||
Assets | $7,000,000 | $68,000,000 | ||
Liabilities | -95,000,000 | -41,000,000 | ||
Not Designated [Member] | ' | ' | ||
Assets | 3,000,000 | 5,000,000 | ||
Liabilities | -7,000,000 | -3,000,000 | ||
Level 1 [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Assets | 0 | 0 | ||
Liabilities | 0 | 0 | ||
Level 1 [Member] | Not Designated [Member] | ' | ' | ||
Assets | 3,000,000 | 5,000,000 | ||
Liabilities | -7,000,000 | -3,000,000 | ||
Level 2 [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Assets | 7,000,000 | 68,000,000 | ||
Liabilities | -95,000,000 | -41,000,000 | ||
Level 2 [Member] | Not Designated [Member] | ' | ' | ||
Assets | 0 | 0 | ||
Liabilities | 0 | 0 | ||
Foreign Currency Exchange Contracts [Member] | Other Current Assets [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Assets | 7,000,000 | 4,000,000 | ||
Foreign Currency Exchange Contracts [Member] | Other Current Assets [Member] | Level 1 [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Assets | 0 | 0 | ||
Foreign Currency Exchange Contracts [Member] | Other Current Assets [Member] | Level 2 [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Assets | 7,000,000 | 4,000,000 | ||
Foreign Currency Exchange Contracts [Member] | Other Current Liabilities [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Liabilities | -8,000,000 | -3,000,000 | ||
Foreign Currency Exchange Contracts [Member] | Other Current Liabilities [Member] | Level 1 [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Liabilities | 0 | 0 | ||
Foreign Currency Exchange Contracts [Member] | Other Current Liabilities [Member] | Level 2 [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Liabilities | -8,000,000 | -3,000,000 | ||
Interest Rate Contracts [Member] | Level 2 [Member] | ' | ' | ||
Fair value of the related hedged portion of long term debt | 2,500,000,000 | 2,300,000,000 | ||
Interest Rate Contracts [Member] | Other Assets [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Assets | 0 | [1] | 64,000,000 | [1] |
Interest Rate Contracts [Member] | Other Assets [Member] | Level 1 [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Assets | 0 | [1] | 0 | [1] |
Interest Rate Contracts [Member] | Other Assets [Member] | Level 2 [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Assets | 0 | [1] | 64,000,000 | [1] |
Interest Rate Contracts [Member] | Other Liabilities [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Liabilities | -59,000,000 | 0 | ||
Interest Rate Contracts [Member] | Other Liabilities [Member] | Level 1 [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Liabilities | 0 | 0 | ||
Interest Rate Contracts [Member] | Other Liabilities [Member] | Level 2 [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Liabilities | -59,000,000 | 0 | ||
Commodity Contracts [Member] | Other Current Assets [Member] | Not Designated [Member] | ' | ' | ||
Assets | 3,000,000 | 5,000,000 | ||
Commodity Contracts [Member] | Other Current Assets [Member] | Level 1 [Member] | Not Designated [Member] | ' | ' | ||
Assets | 3,000,000 | 5,000,000 | ||
Commodity Contracts [Member] | Other Current Assets [Member] | Level 2 [Member] | Not Designated [Member] | ' | ' | ||
Assets | 0 | 0 | ||
Commodity Contracts [Member] | Other Current Liabilities [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Liabilities | -9,000,000 | -11,000,000 | ||
Commodity Contracts [Member] | Other Current Liabilities [Member] | Not Designated [Member] | ' | ' | ||
Liabilities | -7,000,000 | -3,000,000 | ||
Commodity Contracts [Member] | Other Current Liabilities [Member] | Level 1 [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Liabilities | 0 | 0 | ||
Commodity Contracts [Member] | Other Current Liabilities [Member] | Level 1 [Member] | Not Designated [Member] | ' | ' | ||
Liabilities | -7,000,000 | -3,000,000 | ||
Commodity Contracts [Member] | Other Current Liabilities [Member] | Level 2 [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Liabilities | -9,000,000 | -11,000,000 | ||
Commodity Contracts [Member] | Other Current Liabilities [Member] | Level 2 [Member] | Not Designated [Member] | ' | ' | ||
Liabilities | 0 | 0 | ||
Commodity Contracts [Member] | Other Liabilities [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Liabilities | -19,000,000 | -27,000,000 | ||
Commodity Contracts [Member] | Other Liabilities [Member] | Level 1 [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Liabilities | 0 | 0 | ||
Commodity Contracts [Member] | Other Liabilities [Member] | Level 2 [Member] | Designated as Hedging Instrument [Member] | ' | ' | ||
Liabilities | ($19,000,000) | ($27,000,000) | ||
[1] | The fair value of the related hedged portion of the Company's long-term debt, a level 2 liability, was $2.5 billion as of December 28, 2013 and $2.3 billion as of December 29, 2012: |
Derivative_Instruments_and_Fai5
Derivative Instruments and Fair Value Measurements (The Effect of Derivative Instruments on the Consolidated Statement of Income) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | ||
Net deferred loss expected to be reclassified from accumulated other comprehensive income to income within the next 12 months | $5 | ' | ||
Fair Value Hedging [Member] | ' | ' | ||
Gain (loss) recognized in income | -3 | [1] | 4 | [1] |
Fair Value Hedging [Member] | Foreign Currency Exchange Contracts [Member] | Other Income (Expense), Net [Member] | ' | ' | ||
Gain (loss) recognized in income | 2 | [1] | -1 | [1] |
Fair Value Hedging [Member] | Interest Rate Contracts [Member] | Interest Expense [Member] | ' | ' | ||
Gain (loss) recognized in income | -5 | [1] | 5 | [1] |
Cash Flow Hedging [Member] | ' | ' | ||
Gain (loss) recognized in AOCI | 11 | -5 | ||
Gain (loss) reclassified from AOCI into income | 6 | -14 | ||
Gain (loss) recognized in income | 0 | [1] | 0 | [1] |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Interest Expense [Member] | ' | ' | ||
Gain (loss) recognized in AOCI | 0 | ' | ||
Gain (loss) recognized in income | 0 | [1] | 0 | [1] |
Net Investment Hedging [Member] | ' | ' | ||
Gain (loss) recognized in AOCI | 0 | 5 | ||
Net Investment Hedging [Member] | Foreign Currency Exchange Contracts [Member] | ' | ' | ||
Gain (loss) recognized in AOCI | 0 | 5 | ||
Not Designated [Member] | ' | ' | ||
Gain (loss) recognized in income | -34 | -11 | ||
Not Designated [Member] | Foreign Currency Exchange Contracts [Member] | Other Income (Expense), Net [Member] | ' | ' | ||
Gain (loss) recognized in income | 3 | 0 | ||
Not Designated [Member] | Interest Rate Contracts [Member] | Interest Expense [Member] | ' | ' | ||
Gain (loss) recognized in income | 0 | -1 | ||
Interest Expense [Member] | Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | ' | ' | ||
Gain (loss) recognized in AOCI | ' | 0 | ||
Gain (loss) reclassified from AOCI into income | 4 | 4 | ||
Selling, General and Administrative Expense [Member] | Cash Flow Hedging [Member] | Foreign Currency Exchange Contracts [Member] | Other Income (Expense), Net [Member] | ' | ' | ||
Gain (loss) recognized in AOCI | -2 | 1 | ||
Gain (loss) reclassified from AOCI into income | 2 | 2 | ||
Gain (loss) recognized in income | 0 | [1] | 0 | [1] |
Cost of Goods Sold [Member] | Cash Flow Hedging [Member] | Foreign Currency Exchange Contracts [Member] | Other Income (Expense), Net [Member] | ' | ' | ||
Gain (loss) recognized in AOCI | 13 | 0 | ||
Gain (loss) reclassified from AOCI into income | 10 | -1 | ||
Gain (loss) recognized in income | 0 | [1] | 0 | [1] |
Cost of Goods Sold [Member] | Cash Flow Hedging [Member] | Commodity Contracts [Member] | Other Income (Expense), Net [Member] | ' | ' | ||
Gain (loss) recognized in AOCI | 0 | -6 | ||
Gain (loss) reclassified from AOCI into income | -10 | -19 | ||
Gain (loss) recognized in income | 0 | [1] | 0 | [1] |
Cost of Goods Sold [Member] | Not Designated [Member] | Commodity Contracts [Member] | ' | ' | ||
Gain (loss) recognized in income | ($37) | ($10) | ||
[1] | Includes the ineffective portion and amount excluded from effectiveness testing. |
Derivative_Instruments_and_Fai6
Derivative Instruments and Fair Value Measurements (Assets Measured at Fair Value) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
Asset Impairment Charges, Total | ($4) | ' |
Level 3 [Member] | ' | ' |
Long-lived assets, estimated fair value | 38 | 11 |
Total | 38 | 11 |
Long-lived assets, Impairment Loss | -70 | -17 |
Asset Impairment Charges, Total | -70 | -17 |
Project K [Member] | ' | ' |
Long-lived assets, estimated fair value | 31 | ' |
Noncurrent assets | $97 | ' |
Derivative_Instruments_and_Fai7
Derivative Instruments and Fair Value Measurements (Fair Value of Long-term Debt) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Millions, unless otherwise specified | ||
Derivative Instruments and Fair Value Measurements [Abstract] | ' | ' |
Current maturities of long-term debt, fair value | $289 | ' |
Long-term debt, fair value | 6,715 | ' |
Long-term debt total, fair value | 7,004 | ' |
Current maturities of long-term debt, carrying value | 289 | 755 |
Long-term debt, carrying value | 6,330 | 6,082 |
Long-term debt total, carrying value | $6,619 | $6,837 |
Product_Recall_Details
Product Recall (Details) (USD $) | 12 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Dec. 29, 2012 |
Product Recall [Abstract] | ' |
Reduction of net sales | $14 |
Cost of goods sold | 12 |
SGA expense | 0 |
Total | $26 |
Impact on earnings per diluted share | ($0.05) |
Quarterly_Financial_Data_unaud2
Quarterly Financial Data (unaudited) (Narrative) (Details) (USD $) | Dec. 28, 2013 |
Quarterly Financial Data [Abstract] | ' |
Stock price at year-end | $60.98 |
Number of shareholders of record at year-end | 38,271 |
Quarterly_Financial_Data_unaud3
Quarterly Financial Data (unaudited) (Net sales and gross profit) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 28, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Quarterly Financial Data [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $3,501 | $3,716 | $3,714 | $3,861 | $3,563 | $3,720 | $3,474 | $3,440 | $14,792 | $14,197 | $13,198 |
Gross profit | $1,783 | $1,450 | $1,477 | $1,393 | $1,176 | $1,466 | $1,439 | $1,353 | $6,103 | $5,434 | ' |
Quarterly_Financial_Data_unaud4
Quarterly Financial Data (unaudited) (Net income and earnings per share) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 28, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Quarterly Financial Data [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Kellogg Company | $818 | $326 | $352 | $311 | ($32) | $318 | $324 | $351 | $1,807 | $961 | $866 |
Basic | $2.26 | $0.90 | $0.96 | $0.86 | ($0.09) | $0.89 | $0.91 | $0.98 | $4.98 | $2.68 | $2.39 |
Diluted | $2.24 | $0.90 | $0.96 | $0.85 | ($0.09) | $0.89 | $0.90 | $0.98 | $4.94 | $2.67 | $2.38 |
Quarterly_Financial_Data_unaud5
Quarterly Financial Data (unaudited) (Dividends and stock prices) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 28, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Quarterly Financial Data [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend per share | $0.46 | $0.46 | $0.44 | $0.44 | $0.44 | $0.44 | $0.43 | $0.43 | $1.80 | $1.74 | $1.67 |
High stock price | $64.92 | $67.98 | $66.84 | $64.75 | $57.21 | $52.15 | $54.20 | $53.86 | $64.92 | $57.21 | ' |
Low stock price | $58.01 | $58.59 | $61.03 | $55.02 | $51.27 | $46.33 | $47.88 | $49.07 | $58.01 | $51.27 | ' |
Quarterly_Financial_Data_unadi
Quarterly Financial Data (unadited) (Asset impairment and MTM gains and losses) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||
In Millions, unless otherwise specified | Dec. 28, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 28, 2013 | Dec. 29, 2012 |
Quarterly Financial Data [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset impairment and exit costs | $203 | $27 | $7 | $13 | $27 | $11 | $9 | $9 | $250 | $56 |
Gain Loss On Mark To Market Adjustments | -1,006 | -2 | 7 | 54 | 402 | 0 | 0 | 50 | -947 | 452 |
Pre Tax Charges Gains In Operating Profit | ($803) | $25 | $14 | $67 | $429 | $11 | $9 | $59 | ($697) | $508 |
Reportable_Segments_Narrative_
Reportable Segments (Narrative) (Details) | 12 Months Ended | ||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Reportable segments information | 'The Company has the following reportable segments: U.S. Morning Foods; U.S. Snacks; U.S. Specialty; North America Other; Europe; Latin America; and Asia Pacific. The Company manages its operations through eight operating segments that are based on product category or geographic location. These operating segments are evaluated for similarity with regards to economic characteristics, products, production processes, types or classes of customers, distribution methods and regulatory environments to determine if they can be aggregated into reportable segments. Beginning in the first quarter of 2013, the Kashi operating segment, which was formerly aggregated with the U.S. Morning Foods operating segment and reported as U.S. Morning Foods and Kashi, was revised due to a reorganization of the business. Kashi operating segment results of prior years were recast between U.S. Morning Foods and U.S. Snacks to conform with current presentation. The reportable segments are discussed in greater detail below. | ' | ' |
Walmart Stores, Inc [Member] | ' | ' | ' |
Largest customer, percentage of consolidated net sales | 21.00% | 20.00% | 20.00% |
U.S. Morning Foods [Member] | ' | ' | ' |
Reportable segments information | 'The U.S. Morning Foods operating segment includes cereal, toaster pastries, and health and wellness business bars, and beverages. | ' | ' |
U.S. Snacks [Member] | ' | ' | ' |
Reportable segments information | 'U.S. Snacks includes cookies, crackers, cereal bars, savory snacks and fruit-flavored snacks. | ' | ' |
U.S. Specialty [Member] | ' | ' | ' |
Reportable segments information | 'U.S. Specialty includes the food service and Girl Scouts business. The food service business is mostly non-commercial, serving institutions such as schools and hospitals. | ' | ' |
North America Other [Member] | ' | ' | ' |
Reportable segments information | 'North America Other includes the U.S. Frozen and Canada operating segments. As these operating segments are not considered economically similar enough to aggregate with other operating segments and are immaterial for separate disclosure, they have been grouped together as a single reportable segment. | ' | ' |
Europe [Member] | ' | ' | ' |
Reportable segments information | 'Europe which consists principally of European countries; | ' | ' |
Latin America [Member] | ' | ' | ' |
Reportable segments information | 'Latin America which is comprised of Central and South America and includes Mexico; and | ' | ' |
Asia Pacific [Member] | ' | ' | ' |
Reportable segments information | 'Asia Pacific which is comprised of South Africa, Australia and other Asian and Pacific markets. | ' | ' |
Reportable_Segments_Reportable
Reportable Segments (Reportable Segment Information) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 28, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Net sales | $3,501 | $3,716 | $3,714 | $3,861 | $3,563 | $3,720 | $3,474 | $3,440 | $14,792 | $14,197 | $13,198 |
Operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 2,837 | 1,562 | 1,427 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 532 | 448 | 369 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 235 | 261 | 233 |
Income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 792 | 363 | 320 |
Total assets | 15,474 | ' | ' | ' | 15,169 | ' | ' | ' | 15,474 | 15,169 | 11,943 |
Additions to long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | 637 | 891 | 594 |
U.S. Morning Foods [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 3,465 | 3,533 | 3,450 |
Operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 485 | 588 | 609 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 181 | 132 | 130 |
U.S. Snacks [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 3,534 | 3,400 | 3,044 |
Operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 447 | 476 | 439 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 144 | 123 | 92 |
U.S. Specialty [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,202 | 1,121 | 1,008 |
Operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 265 | 241 | 231 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 8 | 5 | 5 |
North America Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,515 | 1,485 | 1,371 |
Operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 275 | 265 | 250 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 30 | 34 | 30 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 4 | 0 |
North America [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets | 10,643 | ' | ' | ' | 10,602 | ' | ' | ' | 10,643 | 10,602 | 9,128 |
Additions to long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | 296 | 549 | 421 |
Europe [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 2,860 | 2,527 | 2,334 |
Operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 256 | 261 | 302 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 84 | 66 | 57 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 4 | 4 |
Income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 4 | -21 | 31 |
Total assets | 3,007 | ' | ' | ' | 3,014 | ' | ' | ' | 3,007 | 3,014 | 1,584 |
Additions to long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | 182 | 209 | 61 |
Latin America [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,195 | 1,121 | 1,049 |
Operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 157 | 167 | 176 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 29 | 26 | 20 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 4 | 6 |
Income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 35 | 36 | 49 |
Total assets | 1,052 | ' | ' | ' | 861 | ' | ' | ' | 1,052 | 861 | 798 |
Additions to long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | 70 | 40 | 53 |
Asia Pacific [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,021 | 1,010 | 942 |
Operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 60 | 85 | 104 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 40 | 55 | 27 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 3 | 4 | 2 |
Income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 9 | 21 |
Total assets | 1,049 | ' | ' | ' | 1,107 | ' | ' | ' | 1,049 | 1,107 | 529 |
Additions to long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | 85 | 79 | 54 |
Total Reportable Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 1,945 | 2,083 | 2,111 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 516 | 441 | 361 |
Corporate [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 892 | -521 | -684 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 16 | 7 | 8 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 219 | 245 | 221 |
Total assets | 2,583 | ' | ' | ' | 3,384 | ' | ' | ' | 2,583 | 3,384 | 2,317 |
Additions to long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | 4 | 14 | 5 |
Corporate and North America [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 747 | 339 | 219 |
Elimination entries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets | ($2,860) | ' | ' | ' | ($3,799) | ' | ' | ' | ($2,860) | ($3,799) | ($2,413) |
Reportable_Segments_Net_sales_
Reportable Segments (Net sales to external customers and long-lived assets) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 28, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Net sales | $3,501 | $3,716 | $3,714 | $3,861 | $3,563 | $3,720 | $3,474 | $3,440 | $14,792 | $14,197 | $13,198 |
Property, net | 3,856 | ' | ' | ' | 3,782 | ' | ' | ' | 3,856 | 3,782 | 3,281 |
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 9,060 | 8,875 | 8,239 |
Property, net | 2,343 | ' | ' | ' | 2,427 | ' | ' | ' | 2,343 | 2,427 | 2,151 |
All Other Countries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 5,732 | 5,322 | 4,959 |
Property, net | $1,513 | ' | ' | ' | $1,355 | ' | ' | ' | $1,513 | $1,355 | $1,130 |
Reportable_Segments_Supplement
Reportable Segments (Supplemental product information) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 28, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Net sales | $3,501 | $3,716 | $3,714 | $3,861 | $3,563 | $3,720 | $3,474 | $3,440 | $14,792 | $14,197 | $13,198 |
Retail Channel Cereal [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 6,451 | 6,652 | 6,730 |
Retail Channel Snacks [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 6,625 | 5,891 | 4,949 |
Frozen And Specialty Channels [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | $1,716 | $1,654 | $1,519 |
Supplemental_Financial_Stateme2
Supplemental Financial Statement Data (Consolidated Statement of Income) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Supplemental Financial Statement Data [Abstract] | ' | ' | ' |
Research and development expense | $199 | $206 | $192 |
Advertising expense | $1,131 | $1,120 | $1,138 |
Supplemental_Financial_Stateme3
Supplemental Financial Statement Data (Consolidated Balance Sheet) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Jan. 01, 2011 |
In Millions, unless otherwise specified | ||||
Supplemental Financial Statement Data [Abstract] | ' | ' | ' | ' |
Trade receivables | $1,231 | $1,185 | ' | ' |
Allowance for doubtful accounts | -5 | -6 | -8 | -10 |
Refundable income taxes | 52 | 68 | ' | ' |
Other Receivables | 146 | 207 | ' | ' |
Accounts receivable, net | 1,424 | 1,454 | ' | ' |
Raw materials and supplies | 319 | 300 | ' | ' |
Finished goods and materials in process | 929 | 1,065 | ' | ' |
Inventories | 1,248 | 1,365 | ' | ' |
Deferred income taxes | 195 | 152 | ' | ' |
Other prepaid assets | 127 | 128 | ' | ' |
Other current assets | 322 | 280 | ' | ' |
Land | 125 | 117 | ' | ' |
Buildings | 2,155 | 2,084 | ' | ' |
Machinery and equipment | 6,059 | 5,978 | ' | ' |
Capitalized software | 325 | 279 | ' | ' |
Construction in progress | 693 | 533 | ' | ' |
Accumulated depreciation | -5,501 | -5,209 | ' | ' |
Property, net | 3,856 | 3,782 | 3,281 | ' |
Other intangibles | 2,429 | 2,412 | ' | ' |
Accumulated amortization | -62 | -53 | -49 | ' |
Other intangibles, net | 2,367 | 2,359 | ' | ' |
Pension | 419 | 145 | ' | ' |
Other | 514 | 465 | ' | ' |
Other assets | 933 | 610 | ' | ' |
Accrued income taxes | 69 | 46 | ' | ' |
Accrued salaries and wages | 327 | 266 | ' | ' |
Accrued advertising and promotion | 476 | 517 | ' | ' |
Other | 503 | 472 | ' | ' |
Other current liabilities | 1,375 | 1,301 | ' | ' |
Nonpension postretirement benefits | 68 | 281 | ' | ' |
Other | 429 | 409 | ' | ' |
Other liabilities | $497 | $690 | ' | ' |
Supplemental_Financial_Stateme4
Supplemental Financial Statement Data (Allowance for doubtful accounts) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Supplemental Financial Statement Data [Abstract] | ' | ' | ' |
Balance at beginning of year | $6 | $8 | $10 |
Additions charged to expense | 2 | 1 | 0 |
Doubtful accounts charged to reserve | -3 | -3 | -2 |
Balance at end of year | $5 | $6 | $8 |
Subsequent_Event_Narrative_Det
Subsequent Event (Narrative) (Details) (USD $) | Dec. 29, 2012 | Mar. 31, 2008 | Dec. 28, 2013 | Dec. 29, 2012 | 31-May-12 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2010 | Feb. 24, 2014 | Feb. 28, 2013 | 31-May-12 | Dec. 31, 2010 | |||||
In Millions, unless otherwise specified | 4.25% U.S. Dollar Notes Due 2013 [Member] | 4.25% U.S. Dollar Notes Due 2013 [Member] | 3.125% U.S. Dollar Debentures due 2022 [Member] | 3.125% U.S. Dollar Debentures due 2022 [Member] | 3.125% U.S. Dollar Debentures due 2022 [Member] | 4.0% U.S. Dollar Notes Due 2020 [Member] | 4.0% U.S. Dollar Notes Due 2020 [Member] | 4.0% U.S. Dollar Notes Due 2020 [Member] | Debt [Member] | Debt [Member] | Debt [Member] | Debt [Member] | |||||
2.75% US Dollar Notes Payable [Member] | 3.125% U.S. Dollar Debentures due 2022 [Member] | 4.0% U.S. Dollar Notes Due 2020 [Member] | |||||||||||||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Notes Payable | $754 | [1] | ' | $682 | [2] | $694 | [2] | ' | $974 | [3] | $993 | [3] | ' | $700 | ' | ' | ' |
Debt instrument, stated interest rate | ' | 4.25% | ' | ' | 3.13% | ' | ' | 4.00% | ' | 2.75% | 3.13% | 4.00% | |||||
[1] | In MarchB 2008, the Company issued $750B million of five-year 4.25% fixed rate U.S.B Dollar Notes, using net proceeds from these Notes to retire a portion of its U.S. commercial paper. The Notes contained customary covenants that limited the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contained a change of control provision. In conjunction with this debt issuance, the Company entered into interest rate swaps with notional amounts totaling $750B million, which effectively converted this debt from a fixed rate to a floating rate obligation. These derivative instruments were designated as fair value hedges of the debt obligation. During 2011, the Company transferred a portion of the interest rate swaps to another counterparty and subsequently terminated all the interest rate swaps. The Company redeemed the Notes in March 2013. | ||||||||||||||||
[2] | In May 2012, the Company issued $700 million of ten-year 3.125% U.S. Dollar Notes, using net proceeds from these Notes for general corporate purposes, including financing a portion of the acquisition of Pringles. The effective interest rate on these Notes, reflecting issuance discount and interest rate swaps, was 2.74% at December 28, 2013. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. In May 2013, the Company entered into interest rate swaps with notional amounts totaling $200 million, which effectively converted a portion of these Notes from a fixed rate to a floating rate obligation for the remainder of the ten-year term. These derivative instruments were designated as fair value hedges of the debt obligation. The fair value adjustment for the interest rate swaps was $13B million, and was recorded as a decrease in the hedged debt balance at December 28, 2013. | ||||||||||||||||
[3] | In December 2010, the Company issued $1.0B billion of ten-year 4.0% fixed rate U.S.B Dollar Notes, using net proceeds from these Notes for incremental pension and postretirement benefit plan contributions and to retire a portion of its commercial paper. The effective interest rate on these Notes, reflecting issuance discount and hedge settlement, was 2.90%. The Notes contain customary covenants that limit the ability of the Company and its restricted subsidiaries (as defined) to incur certain liens or enter into certain sale and lease-back transactions. The customary covenants also contain a change of control provision. In March 2013, the Company entered into interest rate swaps with notional amounts totaling $400 million, which effectively converted a portion of these Notes from a fixed rate to a floating rate obligation for the remainder of the ten-year term. These derivative instruments were designated as fair value hedges of the debt obligation. The fair value adjustment for the interest rate swaps was $20B million, and was recorded as a decrease in the hedged debt balance at December 28, 2013. |