Kellogg (K) 10-Q 7 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page	3 Months Ended
	Apr. 03, 2021shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Entity Registrant Name	KELLOGG COMPANY
Document Period End Date	Apr. 3, 2021
Document Transition Report	false
Entity File Number	1-4171
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	38-0710690
Entity Address, Address Line One	One Kellogg Square
Entity Address, Address Line Two	P.O. Box 3599
Entity Address, City or Town	Battle Creek
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	49016-3599
City Area Code	269
Local Phone Number	961-2000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)	340,496,336
Amendment Flag	false
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021
Entity Central Index Key	0000055067
Current Fiscal Year End Date	--01-01
Common stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $.25 par value per share
Trading Symbol	K
Security Exchange Name	NYSE
1.750% Senior Notes Due 2021 [Member]
Entity Information [Line Items]
Title of 12(b) Security	1.750% Senior Notes due 2021
Trading Symbol	K 21
Security Exchange Name	NYSE
0.800% Senior Notes Due 2022 [Member]
Entity Information [Line Items]
Title of 12(b) Security	0.800% Senior Notes due 2022
Trading Symbol	K 22A
Security Exchange Name	NYSE
1.000% Senior Notes Due 2024 [Member]
Entity Information [Line Items]
Title of 12(b) Security	1.000% Senior Notes due 2024
Trading Symbol	K 24
Security Exchange Name	NYSE
1.250% Senior Notes Due 2025 [Member]
Entity Information [Line Items]
Title of 12(b) Security	1.250% Senior Notes due 2025
Trading Symbol	K 25
Security Exchange Name	NYSE

Consolidated Balance Sheet (Una

Consolidated Balance Sheet (Unaudited) - USD ($) $ in Millions	Apr. 03, 2021	Jan. 02, 2021
Current assets
Cash and cash equivalents	$ 391	$ 435
Accounts receivable, net	1,660	1,537
Inventories	1,319	1,284
Other current assets	269	226
Total current assets	3,639	3,482
Property, net	3,636	3,713
Operating lease right-of-use assets	641	658
Goodwill	5,768	5,799
Other intangibles, net	2,449	2,491
Investments in unconsolidated entities	397	391
Other assets	1,534	1,462
Total assets	18,064	17,996
Current liabilities
Current maturities of long-term debt	605	627
Notes payable	428	102
Accounts payable	2,476	2,471
Current operating lease liabilities	120	117
Accrued advertising and promotion	775	776
Other current liabilities	981	1,145
Total current liabilities	5,385	5,238
Long-term debt	6,655	6,746
Operating lease liabilities	502	520
Deferred income taxes	634	562
Pension liability	726	769
Other liabilities	507	525
Commitments and contingencies
Equity
Common stock, $.25 par value	105	105
Capital in excess of par value	954	972
Retained earnings	8,506	8,326
Treasury stock, at cost	(4,762)	(4,559)
Accumulated other comprehensive income (loss)	(1,665)	(1,732)
Total Kellogg Company equity	3,138	3,112
Noncontrolling interests	517	524
Total equity	3,655	3,636
Total liabilities and equity	$ 18,064	$ 17,996

Consolidated Balance Sheet (U_2

Consolidated Balance Sheet (Unaudited) (Parenthetical) - $ / shares	Apr. 03, 2021	Jan. 02, 2021
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.25	$ 0.25

Consolidated Statement of Incom

Consolidated Statement of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Income Statement [Abstract]
Net sales	$ 3,584	$ 3,412
Cost of goods sold	2,418	2,268
Selling, general and administrative expense	694	685
Operating profit	472	459
Interest expense	59	64
Other income (expense), net	69	51
Income before income taxes	482	446
Income taxes	109	94
Earnings (loss) from unconsolidated entities	(2)	(2)
Net income	371	350
Net income attributable to noncontrolling interests	3	3
Net income attributable to Kellogg Company	$ 368	$ 347
Per share amounts:
Basic earnings (in dollars per share)	$ 1.07	$ 1.01
Diluted earnings (in dollars per share)	$ 1.07	$ 1.01
Average shares outstanding:
Basic (in shares)	342	342
Diluted (in shares)	344	344
Actual shares outstanding at period end (in shares)	340	343

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 371	$ 350
Other comprehensive income (loss), pre-tax:
Foreign currency translation adjustments, pre-tax	33	(241)
Cash flow hedges, pre-tax:
Unrealized gain (loss) on cash flow hedges, pre-tax	78	(65)
Reclassification to net income, pre-tax	5	2
Postretirement and postemployment benefits reclassification to net income, pre-tax:
Net experience (gain) loss	(1)	(1)
Available-for-sale securities, pre-tax
Unrealized gain (loss) on available-for-sale securities, pre-tax	(2)	(3)
Other comprehensive income (loss), pre-tax	113	(308)
Other comprehensive income (loss), tax (expense) benefit
Foreign currency translation adjustments, tax (expense) benefit	(34)	(20)
Cash flow hedges, tax (expense) benefit:
Unrealized gain (loss) on cash flow hedges, tax (expense) benefit	(21)	17
Reclassification to net income, tax (expense) benefit	(1)	0
Postretirement and postemployment benefits reclassification to net income, tax (expense) benefit:
Net experience loss, tax (expense) benefit	0	0
Available-for-sale securities, tax (expense) benefit
Unrealized gain (loss) on available-for-sale securities, tax (expense) benefit	0	0
Other comprehensive income (loss), tax (expense) benefit	(56)	(3)
Other comprehensive income (loss), after tax:
Foreign currency translation adjustments, after-tax	(1)	(261)
Cash flow hedges, after tax
Unrealized gain (loss) on cash flow hedges, after-tax	57	(48)
Reclassification to net income, after-tax	4	2
Postretirement and postemployment benefits reclassification to net income, after-tax:
Net experience (gain) loss, after-tax	(1)	(1)
Available-for-sale securities, after tax
Unrealized gain (loss) on available-for-sale securities, after-tax	(2)	(3)
Other comprehensive income (loss)	57	(311)
Comprehensive income	428	39
Net income attributable to noncontrolling interests	3	3
Other comprehensive income (loss) attributable to noncontrolling interests	(10)	(32)
Comprehensive income attributable to Kellogg Company	$ 435	$ 68

Consolidated Statement of Equit

Consolidated Statement of Equity (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common stock	Capital in excess of par value	Retained earnings	Treasury stock	Accumulated other comprehensive income (loss)	Total Kellogg Company equity	Non-controlling interests
Balance (in shares) at Dec. 28, 2019		421			79
Balance at Dec. 28, 2019		$ 105	$ 921	$ 7,859	$ (4,690)	$ (1,448)	$ 2,747	$ 567
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 28, 2019	$ 3,314
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	350			347			347	3
Dividends, Common Stock	(195)			(195)			(195)
Other comprehensive income (loss)	(311)					(279)	(279)	(32)
Stock compensation	19		19				19
Stock options exercised and other	35		(29)	(1)	$ 65		35
Stock options exercised and other (in shares)					(1)
Balance (in shares) at Mar. 28, 2020		421			78
Balance at Mar. 28, 2020		$ 105	911	8,010	$ (4,625)	(1,727)	2,674	538
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Mar. 28, 2020	3,212
Balance (in shares) at Jan. 02, 2021		421			77
Balance at Jan. 02, 2021	3,112	$ 105	972	8,326	$ (4,559)	(1,732)	3,112	524
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Jan. 02, 2021	3,636
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock repurchased	$ (240)				$ (240)		(240)
Common stock repurchased (in shares)	4				4
Net income	$ 371			368			368	3
Dividends, Common Stock	(195)			(195)			(195)
Other comprehensive income (loss)	57					67	67	(10)
Stock compensation	20		20				20
Stock options exercised and other	6		(38)	7	$ 37		6
Stock options exercised and other (in shares)					0
Balance (in shares) at Apr. 03, 2021		421			81
Balance at Apr. 03, 2021	3,138	$ 105	$ 954	$ 8,506	$ (4,762)	$ (1,665)	$ 3,138	$ 517
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Apr. 03, 2021	$ 3,655

Consolidated Statement of Equ_2

Consolidated Statement of Equity Consolidated Statement of Equity (Parenthetical) - $ / shares	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Statement of Stockholders' Equity [Abstract]
Dividends declared - per share	$ 0.57	$ 0.57

Consolidated Statement of Cash

Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Operating activities
Net income	$ 371	$ 350
Adjustments to reconcile net income to operating cash flows:
Depreciation and amortization	112	117
Postretirement benefit plan expense (benefit)	(68)	(39)
Deferred income taxes	17	8
Stock compensation	20	19
Other	13	(11)
Postretirement benefit plan contributions	(2)	(6)
Changes in operating assets and liabilities, net of acquisitions:
Trade receivables	(155)	(194)
Inventories	(50)	1
Accounts payable	118	44
All other current assets and liabilities	(141)	102
Net cash provided by (used in) operating activities	235	391
Investing activities
Additions to properties	(173)	(112)
Issuance of notes receivable	(20)	(18)
Repayments of notes receivable	28	0
Investments in unconsolidated entities	(10)	0
Acquisition of cost method investments	0	(3)
Purchases of available for sale securities	(2)	(65)
Sales of available for sale securities	5	5
Other	(17)	(9)
Net cash provided by (used in) investing activities	(189)	(202)
Financing activities
Net issuances (reductions) of notes payable	326	549
Reductions of long-term debt	(4)	(3)
Net issuances of common stock	18	46
Common stock repurchases	(240)	0
Cash dividends	(195)	(195)
Collateral received on derivative instruments	0	80
Net cash provided by (used in) financing activities	(95)	477
Effect of exchange rate changes on cash and cash equivalents	5	(47)
Increase (decrease) in cash and cash equivalents	(44)	619
Cash and cash equivalents at beginning of period	435	397
Cash and cash equivalents at end of period	391	1,016
Supplemental cash flow disclosures of non-cash investing activities
Additions to properties included in accounts payable	$ 97	$ 87

Accounting Policies

Accounting Policies	3 Months Ended
	Apr. 03, 2021
Accounting Policies [Abstract]
Accounting Policies	Accounting policies Basis of presentation The unaudited interim financial information of Kellogg Company (the Company) included in this report reflects all adjustments, all of which are of a normal and recurring nature, that management believes are necessary for a fair statement of the results of operations, comprehensive income, financial position, equity and cash flows for the periods presented. This interim information should be read in conjunction with the financial statements and accompanying footnotes within the Company’s 2020 Annual Report on Form 10-K. The condensed balance sheet information at January 2, 2021 was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States. The results of operations for the quarter ended April 3, 2021 are not necessarily indicative of the results to be expected for other interim periods or the full year. Accounts payable The Company has agreements with third parties to provide accounts payable tracking systems which facilitate participating suppliers’ ability to monitor and, if elected, sell payment obligations from the Company to designated third-party financial institutions. Participating suppliers may, at their sole discretion, make offers to sell one or more payment obligations of the Company prior to their scheduled due dates at a discounted price to participating financial institutions. The Company’s goal is to capture overall supplier savings, in the form of payment terms or vendor funding, and the agreements facilitate the suppliers’ ability to sell payment obligations, while providing them with greater working capital flexibility. The Company has no economic interest in the sale of these suppliers’ receivables and no direct financial relationship with the financial institutions concerning these services. The Company’s obligations to its suppliers, including amounts due and scheduled payment dates, are not impacted by suppliers’ decisions to sell amounts under the arrangements. However, the Company’s right to offset balances due from suppliers against payment obligations is restricted by the agreements for those payment obligations that have been sold by suppliers. The payment of these obligations by the Company is included in cash used in operating activities in the Consolidated Statement of Cash Flows. As of April 3, 2021, $913 million of the Company’s outstanding payment obligations had been placed in the accounts payable tracking system, and participating suppliers had sold $665 million of those payment obligations to participating financial institutions. As of January 2, 2021, $909 million of the Company’s outstanding payment obligations had been placed in the accounts payable tracking system, and participating suppliers had sold $670 million of those payment obligations to participating financial institutions.

Sale of Accounts Receivable

Sale of Accounts Receivable	3 Months Ended
	Apr. 03, 2021
Transfers and Servicing of Financial Assets [Abstract]
Transfers and Servicing of Financial Assets [Text Block]	Sale of accounts receivable The Company has a program in which a discrete group of customers are allowed to extend their payment terms in exchange for the elimination of early payment discounts (Extended Terms Program). The Company has two Receivable Sales Agreements (Monetization Programs) described below, which are intended to directly offset the impact the Extended Terms Program would have on the days-sales-outstanding (DSO) metric that is critical to the effective management of the Company's accounts receivable balance and overall working capital. The Monetization Programs sell, on a revolving basis, certain trade accounts receivable invoices to third party financial institutions. Transfers under these agreements are accounted for as sales of receivables resulting in the receivables being de-recognized from the Consolidated Balance Sheet. The Monetization Programs provide for the continuing sale of certain receivables on a revolving basis until terminated by either party; however the maximum receivables that may be sold at any time is $1,033 million. The Company has no retained interest in the receivables sold, however the Company does have collection and administrative responsibilities for the sold receivables. The Company has not recorded any servicing assets or liabilities as of April 3, 2021 and January 2, 2021 for these agreements as the fair value of these servicing arrangements as well as the fees earned were not material to the financial statements. Accounts receivable sold of $785 million and $783 million remained outstanding under these arrangements as of April 3, 2021 and January 2, 2021, respectively. The proceeds from these sales of receivables are included in cash from operating activities in the Consolidated Statement of Cash Flows in the period of sale. The recorded net loss on sale of receivables was $2 million for the quarter ended April 3, 2021 and was $6 million for the quarter ended March 28, 2020. The recorded loss is included in Other income and expense, net (OIE). Other programs

Equity

Equity	3 Months Ended
	Apr. 03, 2021
Equity [Abstract]
Equity	Equity Earnings per share Basic earnings per share is determined by dividing net income 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, restricted stock units, and to a lesser extent, certain contingently issuable performance shares. There were 12 million and 7 million anti-dilutive potential common shares excluded from the calculation for the quarters ended April 3, 2021 and March 28, 2020, respectively. Please refer to the Consolidated Statement of Income for basic and diluted earnings per share for the quarters ended April 3, 2021 and March 28, 2020. Share repurchases In February 2020, the board of directors approved a new authorization to repurchase up to $1.5 billion of our common stock through December 2022. During the quarter ended April 3, 2021, the Company repurchased approximately 4 million shares of common stock for a total of $240 million. During the quarter ended March 28, 2020, the Company did not repurchase any shares of common stock. 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 consists of foreign currency translation adjustments, fair value adjustments associated with cash flow hedges, adjustments for net experience losses and prior service cost related to employee benefit plans, and adjustments for unrealized gains and losses on available-for-sale securities, net of related tax effects. Reclassifications out of Accumulated other comprehensive income (AOCI) for the quarters ended April 3, 2021 and March 28, 2020, consisted of the following: (millions) Details about AOCI Amount reclassified Line item impacted Quarter ended Quarter ended (Gains) losses on cash flow hedges: Interest rate contracts (a) $ 5 $ 2 Interest expense $ 5 $ 2 Total before tax (1) — Tax expense (benefit) $ 4 $ 2 Net of tax Amortization of postretirement and postemployment benefits: Net experience (gain) loss (b) $ (1) $ (1) OIE $ (1) $ (1) Total before tax — — Tax expense (benefit) $ (1) $ (1) Net of tax Total reclassifications $ 3 $ 1 Net of tax (a) See Derivative instruments and fair value measurements note (b) See Employee benefits note Accumulated other comprehensive income (loss), net of tax, as of April 3, 2021 and January 2, 2021 consisted of the following: (millions) April 3, January 2, Foreign currency translation adjustments $ (1,659) $ (1,668) Cash flow hedges — unrealized net gain (loss) 4 (57) Postretirement and postemployment benefits: Net experience gain (loss) 1 2 Prior service credit (cost) (12) (12) Available-for-sale securities unrealized net gain (loss) 1 3 Total accumulated other comprehensive income (loss) $ (1,665) $ (1,732)

Employee Benefits

Employee Benefits	3 Months Ended
	Apr. 03, 2021
Retirement Benefits [Abstract]
Employee Benefits	Employee benefitsThe Company sponsors a number of U.S. and foreign pension plans as well as other nonpension postretirement and postemployment plans to provide various benefits for its employees. These plans are described within the footnotes to the Consolidated Financial Statements included in the Company’s 2020 Annual Report on Form 10-K. Components of Company benefit plan (income) expense for the periods presented are included in the tables below. Excluding the service cost component, these amounts are included within Other income (expense) in the Consolidated Statement of Income. Pension Quarter ended (millions) April 3, 2021 March 28, 2020 Service cost $ 9 $ 9 Interest cost 25 35 Expected return on plan assets (78) (85) Amortization of unrecognized prior service cost 2 2 Recognized net (gain) loss (9) 14 Total pension (income) expense $ (51) $ (25) Other nonpension postretirement Quarter ended (millions) April 3, 2021 March 28, 2020 Service cost $ 3 $ 3 Interest cost 5 8 Expected return on plan assets (23) (23) Amortization of unrecognized prior service cost (2) (2) Total postretirement benefit (income) expense $ (17) $ (14) Postemployment Quarter ended (millions) April 3, 2021 March 28, 2020 Service cost $ 1 $ 1 Recognized net (gain) loss (1) (1) Total postemployment benefit expense $ — $ — For the quarter ended April 3, 2021, the Company recognized a ga in of $9 million, rel ated to the remeasurement of a U.S. pension plan. For the quarter ended March 28, 2020, the Company recognized a loss of $14 million, related to the remeasurement of a U.S. pension plan. The remeasurements were the result of distributions that exceeded or are expected to exceed service and interest costs resulting in settlement accounting for that particul ar plan. The amount of the remeasurements recognized were due primarily to changes in the discount rate relative to the previous measurements. Company contributions to employee benefit plans are summarized as follows: (millions) Pension Nonpension postretirement Total Quarter ended: April 3, 2021 $ 1 $ 1 $ 2 March 28, 2020 $ 3 $ 3 $ 6 Full year: Fiscal year 2021 (projected) $ 6 $ 19 $ 25 Fiscal year 2020 (actual) $ 8 $ 24 $ 32 Plan funding strategies may be modified in response to management's evaluation of tax deductibility, market conditions, and competing investment alternatives.

Income Taxes

Income Taxes	3 Months Ended
	Apr. 03, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income taxes The consolidated effective tax rate for the quarters ended April 3, 2021 and March 28, 2020 w as 23% a nd 21%, respectively. As of April 3, 2021, the Company classified $19 million of unrecognized tax benefits as a net current tax liability. Management's estimate of reasonably possible changes in unrecognized tax benefits during the next twelve months consists of the current liability expected to be settled within one year, offset by approximately $3 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. The Company’s total gross unrecognized tax benefits as of April 3, 2021 was $65 million. Of this balance, $56 million represents the amount that, if recognized, would affect the Company’s effective income tax rate in future periods.

Derivative Instruments and Fair

Derivative Instruments and Fair Value Measurements	3 Months Ended
	Apr. 03, 2021
Derivative Instruments and Fair Value Measurements [Abstract]
Derivative Instruments and Fair Value Measurements	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 and nonderivative financial instruments 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. The Company designates derivatives and nonderivative hedging instruments 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. Derivative instruments are classified on the Consolidated Balance Sheet based on the contractual maturity of the instrument or the timing of the underlying cash flows of the instrument for derivatives with contractual maturities beyond one year. Any collateral associated with derivative instruments is classified as other assets or other current liabilities on the Consolidated Balance Sheet depending on whether the counterparty collateral is in an asset or liability position. Margin deposits related to exchange-traded commodities are recorded in accounts receivable, net on the Consolidated Balance Sheet. On the Consolidated Statement of Cash Flows, cash flows associated with derivative instruments are classified according to the nature of the underlying hedged item. Cash flows associated with collateral and margin deposits on exchange-traded commodities are classified as investing cash flows when the collateral account is in an asset position and as financing cash flows when the collateral account is in a liability position. Total notional amounts of the Company’s derivative instruments as of April 3, 2021 and January 2, 2021 were as follows: (millions) April 3, January 2, Foreign currency exchange contracts $ 3,278 $ 2,856 Cross-currency contracts 1,383 1,411 Interest rate contracts 3,035 2,632 Commodity contracts 640 314 Total $ 8,336 $ 7,213 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 April 3, 2021 and January 2, 2021, 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, cross-currency 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. Cross-currency contracts are valued based on changes in the spot rate at the time of valuation compared to the spot rate at the time of execution, as well as the change in the interest differential between the two currencies. 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 April 3, 2021 or January 2, 2021. The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheet on a recurring basis as of April 3, 2021 and January 2, 2021: Derivatives designated as hedging instruments April 3, 2021 January 2, 2021 (millions) Level 1 Level 2 Total Level 1 Level 2 Total Assets: Cross-currency contracts: Other current assets $ — $ 31 $ 31 $ — $ 14 $ 14 Other assets — 11 11 — 16 16 Interest rate contracts: Other current assets — 3 3 — — — Other assets (a) — 130 130 — 60 60 Total assets $ — $ 175 $ 175 $ — $ 90 $ 90 Liabilities: Cross-currency contracts: Other current liabilities $ — $ (2) $ (2) $ — $ (13) $ (13) Other Liabilities — (16) (16) — (21) (21) Interest rate contracts: Other current liabilities — (1) (1) — (3) (3) Other liabilities (a) — (4) (4) — — — Total liabilities $ — $ (23) $ (23) $ — $ (37) $ (37) (a) The fair value of the related hedged portion of the Company's long-term debt, a level 2 liability, was $1.2 billion as of April 3, 2021 and $0.8 billion as of January 2, 2021. Derivatives not designated as hedging instruments April 3, 2021 January 2, 2021 (millions) Level 1 Level 2 Total Level 1 Level 2 Total Assets: Foreign currency exchange contracts: Other current assets $ — $ 41 $ 41 $ — $ 48 $ 48 Other assets — 3 3 — — — Interest rate contracts: Other current assets — 4 4 — 4 4 Other assets — 3 3 — 13 13 Commodity contracts: Other current assets 7 — 7 9 — 9 Total assets $ 7 $ 51 $ 58 $ 9 $ 65 $ 74 Liabilities: Foreign currency exchange contracts: Other current liabilities $ — $ (71) $ (71) $ — $ (73) $ (73) Other liabilities — (6) (6) — (4) (4) Interest rate contracts: Other current liabilities — (6) (6) — (6) (6) Other liabilities — (11) (11) — (22) (22) Commodity contracts: Other current liabilities (8) — (8) (1) — (1) Total liabilities $ (8) $ (94) $ (102) $ (1) $ (105) $ (106) The Company has designated its outstanding foreign currency denominated debt as a net investment hedge of a portion of the Company’s investment in its subsidiaries’ foreign currency denominated net assets. The carrying value of this debt, including current and long-term, was approximately $2.7 billion as of April 3, 2021 and $2.8 billion as of January 2, 2021. The following amounts were recorded on the Consolidated Balance Sheet related to cumulative basis adjustments for existing fair value hedges as of April 3, 2021 and January 2, 2021. (millions) Line Item in the Consolidated Balance Sheet in which the hedged item is included Carrying amount of the hedged liabilities Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged liabilities (a) April 3, January 2, April 3, January 2, Interest rate contracts Long-term debt $ 2,956 $ 2,568 $ 20 $ 25 (a) The hedged long-term debt includes $15 million and $16 million of hedging adjustment on discontinued hedging relationships as of April 3, 2021 and January 2, 2021, respectively. The Company has elected to not offset the fair values of derivative assets and liabilities executed with the same counterparty that are generally subject to enforceable netting agreements. However, if the Company were to offset and record the asset and liability balances of derivatives on a net basis, the amounts presented in the Consolidated Balance Sheet as of April 3, 2021 and January 2, 2021 would be adjusted as detailed in the following table: As of April 3, 2021: Gross Amounts Not Offset in the Amounts Financial Cash Collateral Net Total asset derivatives $ 233 $ (94) $ 3 $ 142 Total liability derivatives $ (125) $ 94 $ 31 $ — As of January 2, 2021: Gross Amounts Not Offset in the Amounts Financial Cash Collateral Net Total asset derivatives $ 164 $ (116) $ — $ 48 Total liability derivatives $ (143) $ 116 $ 5 $ (22) The effect of derivative instruments on the Consolidated Statements of Income and Comprehensive Income for the quarters ended April 3, 2021 and March 28, 2020 was as follows: Derivatives and non-derivatives in net investment hedging relationships (millions) Gain (loss) Gain (loss) excluded from assessment of hedge effectiveness Location of gain (loss) in income of excluded component April 3, March 28, April 3, March 28, Foreign currency denominated long-term debt $ 103 $ 9 $ — $ — Cross-currency contracts 27 66 5 9 Interest expense Total $ 130 $ 75 $ 5 $ 9 Derivatives not designated as hedging instruments (millions) Location of gain Gain (loss) April 3, March 28, Foreign currency exchange contracts COGS $ (17) $ 51 Foreign currency exchange contracts Other income (expense), net (1) 9 Foreign currency exchange contracts SG&A 4 4 Interest rate contracts Interest expense 1 — Commodity contracts COGS 12 (24) Total $ (1) $ 40 The effect of fair value and cash flow hedge accounting on the Consolidated Income Statement for the quarters ended April 3, 2021 and March 28, 2020: April 3, 2021 March 28, 2020 (millions) Interest Expense Interest Expense Total amounts of income and expense line items presented in the Consolidated Income Statement in which the effects of fair value or cash flow hedges are recorded $ 59 $ 64 Gain (loss) on fair value hedging relationships: Interest contracts: Hedged items 6 (1) Derivatives designated as hedging instruments (7) 2 Gain (loss) on cash flow hedging relationships: Interest contracts: Amount of gain (loss) reclassified from AOCI into income (5) (2) During the next 12 months, the Company expects $16 million of net deferred losses reported in AOCI at April 3, 2021 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 is at or 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 April 3, 2021 was not material. 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 as of April 3, 2021 triggered by credit-risk-related contingent features. Other fair value measurements April 3, 2021 January 2, 2021 Unrealized Unrealized (millions) Cost Gain (Loss) Market Value Cost Gain (Loss) Market Value Corporate bonds $ 58 $ 1 $ 59 $ 62 $ 3 $ 65 During the quarter ended April 3, 2021, the Company sold approximately $5 million of investments in level 2 corporate bonds. The resulting gain from the sale of these investments was less than $1 million dollars and was recorded in Other income and (expense). The market values of the Company's investments in level 2 corporate bonds were based on matrices or models from pricing vendors. Unrealized gains and losses were included in the Consolidated Statement of Comprehensive Income. Additionally, these investments were recorded within Other current assets and Other assets on the Consolidated Balance Sheet, based on the maturity of the individual security. The maturity dates of the securities range from 2022 to 2036. The Company reviews its investment portfolio for any unrealized losses that would be deemed other-than-temporary and requires the recognition of an impairment loss in earnings. If the cost of an investment exceeds its fair value, the Company evaluates, among other factors, general market conditions, the duration and extent to which the fair value is less than its cost, the Company's intent to hold the investment, and whether it is more likely than not that the Company will be required to sell the investment before recovery of the cost basis. The Company also considers the type of security, related industry and sector performance, and published investment ratings. Once a decline in fair value is determined to be other-than-temporary, an impairment charge is recorded and a new cost basis in the investment is established. If conditions within individual markets, industry segments, or macro-economic environments deteriorate, the Company could incur future impairments. Financial instruments The carrying values of the Company’s short-term items, including cash, cash equivalents, accounts receivable, accounts payable, notes payable and current maturities of long-term debt approximate fair value. The fair value of the Company’s long-term debt, which are level 2 liabilities, is calculated based on broker quotes. The fair value and carrying value of the Company's long-term debt was $7.3 billion and $6.7 billion, respectively, as of April 3, 2021. The fair value and carrying value of the Company's long-term debt were $7.7 billion and $6.7 billion, respectively, as of January 2, 2021. Counterparty credit risk concentration and collateral requirements 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. Certain counterparties represent a concentration of credit risk to the Company. If those counterparties fail to perform according to the terms of derivative contracts, this would result in a loss to the Company of approximately $109 million, net of collateral already received from those counterparties, as of April 3, 2021. 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. In addition, the Company is required to maintain cash margin accounts in connection with its open positions for exchange-traded commodity derivative instruments executed with the counterparty that are subject to enforceable netting agreements. As of April 3, 2021, the Company posted $34 million in margin deposits for exchange-traded commodity derivative instruments, which was reflected as an increase in accounts receivable, net 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 24% of consolidated trade receivables at April 3, 2021.

Reportable Segments

Reportable Segments	3 Months Ended
	Apr. 03, 2021
Segment Reporting [Abstract]
Reportable Segments	Reportable segments Kellogg Company is the world’s leading producer of cereal, second largest producer of crackers, and a leading producer of savory snacks and frozen foods. Additional product offerings include toaster pastries, cereal bars, veggie foods and noodles. Kellogg products are manufactured and marketed globally. Principal markets for these products include the United States, United Kingdom, and Nigeria. The Company manages its operations through four operating segments that are based on geographic location – North America which includes U.S. businesses and Canada; Europe which consists principally of European countries; Latin America which consists of Central and South America and includes Mexico; and AMEA (Asia Middle East Africa) which consists of Africa, Middle East, Australia and other Asian and Pacific markets. These operating segments also represent our reportable segments. 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. Reportable segment results were as follows: Quarter ended (millions) April 3, March 28, Net sales North America $ 2,130 $ 2,097 Europe 578 526 Latin America 236 227 AMEA 640 562 Consolidated $ 3,584 $ 3,412 Operating profit North America $ 379 $ 366 Europe 80 69 Latin America 27 22 AMEA 63 46 Total Reportable Segments 549 503 Corporate (77) (44) Consolidated $ 472 $ 459 Supplemental product information is provided below for net sales to external customers: Quarter ended (millions) April 3, March 28, Snacks $ 1,647 $ 1,554 Cereal 1,374 1,325 Frozen 297 294 Noodles and other 266 239 Consolidated $ 3,584 $ 3,412

Supplemental Financial Statemen

Supplemental Financial Statement Data	3 Months Ended
	Apr. 03, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Balance Sheet Disclosures [Text Block]	Supplemental Financial Statement Data Consolidated Balance Sheet (millions) April 3, 2021 (unaudited) January 2, 2021 Trade receivables $ 1,413 $ 1,272 Allowance for credit losses (22) (19) Refundable income taxes 19 66 Other receivables 250 218 Accounts receivable, net $ 1,660 $ 1,537 Raw materials and supplies $ 339 $ 338 Finished goods and materials in process 980 946 Inventories $ 1,319 $ 1,284 Intangible assets not subject to amortization $ 2,015 $ 2,068 Intangible assets subject to amortization, net 434 423 Other intangibles, net $ 2,449 $ 2,491

Contingencies

Contingencies	3 Months Ended
	Apr. 03, 2021
Loss Contingency [Abstract]
Contingencies	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. In 2016, a class action complaint was filed against Kellogg in the Northern District of California relating to statements made on packaging for certain products. In August 2019, the Court ruled in favor of the plaintiff regarding certain statements made on the Company’s products and ordered the parties to conduct settlement discussions related to all matters in dispute. In October 2019, the plaintiff filed a motion to the Court to approve a settlement between Kellogg and the class. During 2019, the Company concluded that the contingency related to the unfavorable ruling was probable and estimable, resulting in a liability being recorded. In February 2020, the Court denied plaintiff’s motion to approve the settlement and the parties are continuing arbitration. This litigation, including any potential settlement, is not expected to have a material impact on the Company’s consolidated financial statements. The Company will continue to evaluate the likelihood of potential outcomes as the litigation continues. 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 April 3, 2021. 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.

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
	Apr. 03, 2021
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The unaudited interim financial information of Kellogg Company (the Company) included in this report reflects all adjustments, all of which are of a normal and recurring nature, that management believes are necessary for a fair statement of the results of operations, comprehensive income, financial position, equity and cash flows for the periods presented. This interim information should be read in conjunction with the financial statements and accompanying footnotes within the Company’s 2020 Annual Report on Form 10-K. The condensed balance sheet information at January 2, 2021 was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States. The results of operations for the quarter ended April 3, 2021 are not necessarily indicative of the results to be expected for other interim periods or the full year.
Accounts payable	Accounts payableThe Company has agreements with third parties to provide accounts payable tracking systems which facilitate participating suppliers’ ability to monitor and, if elected, sell payment obligations from the Company to designated third-party financial institutions. Participating suppliers may, at their sole discretion, make offers to sell one or more payment obligations of the Company prior to their scheduled due dates at a discounted price to participating financial institutions. The Company’s goal is to capture overall supplier savings, in the form of payment terms or vendor funding, and the agreements facilitate the suppliers’ ability to sell payment obligations, while providing them with greater working capital flexibility. The Company has no economic interest in the sale of these suppliers’ receivables and no direct financial relationship with the financial institutions concerning these services. The Company’s obligations to its suppliers, including amounts due and scheduled payment dates, are not impacted by suppliers’ decisions to sell amounts under the arrangements. However, the Company’s right to offset balances due from suppliers against payment obligations is restricted by the agreements for those payment obligations that have been sold by suppliers.

Equity (Tables)

Equity (Tables)	3 Months Ended
	Apr. 03, 2021
Equity [Abstract]
Reclassifications Out of AOCI	Reclassifications out of Accumulated other comprehensive income (AOCI) for the quarters ended April 3, 2021 and March 28, 2020, consisted of the following: (millions) Details about AOCI Amount reclassified Line item impacted Quarter ended Quarter ended (Gains) losses on cash flow hedges: Interest rate contracts (a) $ 5 $ 2 Interest expense $ 5 $ 2 Total before tax (1) — Tax expense (benefit) $ 4 $ 2 Net of tax Amortization of postretirement and postemployment benefits: Net experience (gain) loss (b) $ (1) $ (1) OIE $ (1) $ (1) Total before tax — — Tax expense (benefit) $ (1) $ (1) Net of tax Total reclassifications $ 3 $ 1 Net of tax (a) See Derivative instruments and fair value measurements note (b) See Employee benefits note
Summary of Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive income (loss), net of tax, as of April 3, 2021 and January 2, 2021 consisted of the following: (millions) April 3, January 2, Foreign currency translation adjustments $ (1,659) $ (1,668) Cash flow hedges — unrealized net gain (loss) 4 (57) Postretirement and postemployment benefits: Net experience gain (loss) 1 2 Prior service credit (cost) (12) (12) Available-for-sale securities unrealized net gain (loss) 1 3 Total accumulated other comprehensive income (loss) $ (1,665) $ (1,732)

Employee Benefits (Tables)

Employee Benefits (Tables)	3 Months Ended
	Apr. 03, 2021
Retirement Benefits [Abstract]
Components of Plan Benefit Expense	Pension Quarter ended (millions) April 3, 2021 March 28, 2020 Service cost $ 9 $ 9 Interest cost 25 35 Expected return on plan assets (78) (85) Amortization of unrecognized prior service cost 2 2 Recognized net (gain) loss (9) 14 Total pension (income) expense $ (51) $ (25) Other nonpension postretirement Quarter ended (millions) April 3, 2021 March 28, 2020 Service cost $ 3 $ 3 Interest cost 5 8 Expected return on plan assets (23) (23) Amortization of unrecognized prior service cost (2) (2) Total postretirement benefit (income) expense $ (17) $ (14) Postemployment Quarter ended (millions) April 3, 2021 March 28, 2020 Service cost $ 1 $ 1 Recognized net (gain) loss (1) (1) Total postemployment benefit expense $ — $ —
Contributions to Employee Benefit Plans	Company contributions to employee benefit plans are summarized as follows: (millions) Pension Nonpension postretirement Total Quarter ended: April 3, 2021 $ 1 $ 1 $ 2 March 28, 2020 $ 3 $ 3 $ 6 Full year: Fiscal year 2021 (projected) $ 6 $ 19 $ 25 Fiscal year 2020 (actual) $ 8 $ 24 $ 32

Derivative Instruments and Fa_2

Derivative Instruments and Fair Value Measurements (Tables)	3 Months Ended
	Apr. 03, 2021
Derivative Instruments and Fair Value Measurements [Abstract]
Schedule of Total Notional Amounts of Derivative Instruments	Total notional amounts of the Company’s derivative instruments as of April 3, 2021 and January 2, 2021 were as follows: (millions) April 3, January 2, Foreign currency exchange contracts $ 3,278 $ 2,856 Cross-currency contracts 1,383 1,411 Interest rate contracts 3,035 2,632 Commodity contracts 640 314 Total $ 8,336 $ 7,213
Schedule of Fair Value, Assets and Liabilities Measured on 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 April 3, 2021 and January 2, 2021: Derivatives designated as hedging instruments April 3, 2021 January 2, 2021 (millions) Level 1 Level 2 Total Level 1 Level 2 Total Assets: Cross-currency contracts: Other current assets $ — $ 31 $ 31 $ — $ 14 $ 14 Other assets — 11 11 — 16 16 Interest rate contracts: Other current assets — 3 3 — — — Other assets (a) — 130 130 — 60 60 Total assets $ — $ 175 $ 175 $ — $ 90 $ 90 Liabilities: Cross-currency contracts: Other current liabilities $ — $ (2) $ (2) $ — $ (13) $ (13) Other Liabilities — (16) (16) — (21) (21) Interest rate contracts: Other current liabilities — (1) (1) — (3) (3) Other liabilities (a) — (4) (4) — — — Total liabilities $ — $ (23) $ (23) $ — $ (37) $ (37) (a) The fair value of the related hedged portion of the Company's long-term debt, a level 2 liability, was $1.2 billion as of April 3, 2021 and $0.8 billion as of January 2, 2021. Derivatives not designated as hedging instruments April 3, 2021 January 2, 2021 (millions) Level 1 Level 2 Total Level 1 Level 2 Total Assets: Foreign currency exchange contracts: Other current assets $ — $ 41 $ 41 $ — $ 48 $ 48 Other assets — 3 3 — — — Interest rate contracts: Other current assets — 4 4 — 4 4 Other assets — 3 3 — 13 13 Commodity contracts: Other current assets 7 — 7 9 — 9 Total assets $ 7 $ 51 $ 58 $ 9 $ 65 $ 74 Liabilities: Foreign currency exchange contracts: Other current liabilities $ — $ (71) $ (71) $ — $ (73) $ (73) Other liabilities — (6) (6) — (4) (4) Interest rate contracts: Other current liabilities — (6) (6) — (6) (6) Other liabilities — (11) (11) — (22) (22) Commodity contracts: Other current liabilities (8) — (8) (1) — (1) Total liabilities $ (8) $ (94) $ (102) $ (1) $ (105) $ (106)
Schedule of Derivative Instruments in Statement of Financial Position Fair Value	The following amounts were recorded on the Consolidated Balance Sheet related to cumulative basis adjustments for existing fair value hedges as of April 3, 2021 and January 2, 2021. (millions) Line Item in the Consolidated Balance Sheet in which the hedged item is included Carrying amount of the hedged liabilities Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged liabilities (a) April 3, January 2, April 3, January 2, Interest rate contracts Long-term debt $ 2,956 $ 2,568 $ 20 $ 25 (a) The hedged long-term debt includes $15 million and $16 million of hedging adjustment on discontinued hedging relationships as of April 3, 2021 and January 2, 2021, respectively.
Schedule of Offsetting Assets	As of April 3, 2021: Gross Amounts Not Offset in the Amounts Financial Cash Collateral Net Total asset derivatives $ 233 $ (94) $ 3 $ 142 Total liability derivatives $ (125) $ 94 $ 31 $ — As of January 2, 2021: Gross Amounts Not Offset in the Amounts Financial Cash Collateral Net Total asset derivatives $ 164 $ (116) $ — $ 48 Total liability derivatives $ (143) $ 116 $ 5 $ (22)
Schedule of Offsetting Liabilities	As of April 3, 2021: Gross Amounts Not Offset in the Amounts Financial Cash Collateral Net Total asset derivatives $ 233 $ (94) $ 3 $ 142 Total liability derivatives $ (125) $ 94 $ 31 $ — As of January 2, 2021: Gross Amounts Not Offset in the Amounts Financial Cash Collateral Net Total asset derivatives $ 164 $ (116) $ — $ 48 Total liability derivatives $ (143) $ 116 $ 5 $ (22)
Schedule of the Effect of Derivative Instruments on the Consolidated Statements of Income and Comprehensive Income	The effect of derivative instruments on the Consolidated Statements of Income and Comprehensive Income for the quarters ended April 3, 2021 and March 28, 2020 was as follows: Derivatives and non-derivatives in net investment hedging relationships (millions) Gain (loss) Gain (loss) excluded from assessment of hedge effectiveness Location of gain (loss) in income of excluded component April 3, March 28, April 3, March 28, Foreign currency denominated long-term debt $ 103 $ 9 $ — $ — Cross-currency contracts 27 66 5 9 Interest expense Total $ 130 $ 75 $ 5 $ 9 Derivatives not designated as hedging instruments (millions) Location of gain Gain (loss) April 3, March 28, Foreign currency exchange contracts COGS $ (17) $ 51 Foreign currency exchange contracts Other income (expense), net (1) 9 Foreign currency exchange contracts SG&A 4 4 Interest rate contracts Interest expense 1 — Commodity contracts COGS 12 (24) Total $ (1) $ 40 The effect of fair value and cash flow hedge accounting on the Consolidated Income Statement for the quarters ended April 3, 2021 and March 28, 2020: April 3, 2021 March 28, 2020 (millions) Interest Expense Interest Expense Total amounts of income and expense line items presented in the Consolidated Income Statement in which the effects of fair value or cash flow hedges are recorded $ 59 $ 64 Gain (loss) on fair value hedging relationships: Interest contracts: Hedged items 6 (1) Derivatives designated as hedging instruments (7) 2 Gain (loss) on cash flow hedging relationships: Interest contracts: Amount of gain (loss) reclassified from AOCI into income (5) (2)
Available-for-sale securities	April 3, 2021 January 2, 2021 Unrealized Unrealized (millions) Cost Gain (Loss) Market Value Cost Gain (Loss) Market Value Corporate bonds $ 58 $ 1 $ 59 $ 62 $ 3 $ 65

Reportable Segments (Tables)

Reportable Segments (Tables)	3 Months Ended
	Apr. 03, 2021
Segment Reporting [Abstract]
Schedule of Reportable Segment Information	Reportable segment results were as follows: Quarter ended (millions) April 3, March 28, Net sales North America $ 2,130 $ 2,097 Europe 578 526 Latin America 236 227 AMEA 640 562 Consolidated $ 3,584 $ 3,412 Operating profit North America $ 379 $ 366 Europe 80 69 Latin America 27 22 AMEA 63 46 Total Reportable Segments 549 503 Corporate (77) (44) Consolidated $ 472 $ 459
Revenue from External Customers by Products and Services	Supplemental product information is provided below for net sales to external customers: Quarter ended (millions) April 3, March 28, Snacks $ 1,647 $ 1,554 Cereal 1,374 1,325 Frozen 297 294 Noodles and other 266 239 Consolidated $ 3,584 $ 3,412

Supplemental Financial Statem_2

Supplemental Financial Statement Data (Tables)	3 Months Ended
	Apr. 03, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Financial Data Consolidated Balance Sheet [Table Text Block]	Consolidated Balance Sheet (millions) April 3, 2021 (unaudited) January 2, 2021 Trade receivables $ 1,413 $ 1,272 Allowance for credit losses (22) (19) Refundable income taxes 19 66 Other receivables 250 218 Accounts receivable, net $ 1,660 $ 1,537 Raw materials and supplies $ 339 $ 338 Finished goods and materials in process 980 946 Inventories $ 1,319 $ 1,284 Intangible assets not subject to amortization $ 2,015 $ 2,068 Intangible assets subject to amortization, net 434 423 Other intangibles, net $ 2,449 $ 2,491

Accounting Policies - Narrative

Accounting Policies - Narrative (Details) - USD ($) $ in Millions	Apr. 03, 2021	Jan. 02, 2021
Accounting Policies [Abstract]
Obligations placed in accounts payable tracking system	$ 913	$ 909
Obligations sold by participating suppliers	$ 665	$ 670

Sale of Accounts Receivable - N

Sale of Accounts Receivable - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020	Jan. 02, 2021
Monetization Program | Other income (expense)
Transfer of Financial Assets Accounted for as Sales [Line Items]
Gain (Loss) on Sale of Accounts Receivable	$ (2)	$ (6)
Monetization Program | Maximum [Member]
Transfer of Financial Assets Accounted for as Sales [Line Items]
Transfers of Accounts Receivable Agreements	1,033
Monetization Program | Sold And Outstanding
Transfer of Financial Assets Accounted for as Sales [Line Items]
Transfer of Financial Assets Accounted for as Sales, Amount Derecognized	785		$ 783
Kellogg Foreign Subsidiaries Other Program
Transfer of Financial Assets Accounted for as Sales [Line Items]
Transfers of Accounts Receivable Agreements	$ 16		$ 55

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020	Feb. 29, 2020
Equity, Class of Treasury Stock [Line Items]
Anti-dilutive potential common shares excluded from reconciliation	12	7
Common stock repurchased (in shares)	4
Common stock repurchased	$ 240
February 2020 Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount			$ 1,500

Equity - Reclassifications Out

Equity - Reclassifications Out of AOCI (Details) - USD ($) $ in Millions		3 Months Ended
		Apr. 03, 2021	Mar. 28, 2020
Derivative Instruments, Gain (Loss) [Line Items]
COGS		$ 2,418	$ 2,268
SG&A		(694)	(685)
Interest expense		59	64
Net experience (gain) loss		1	1
Other (Income) expense		69	51
Total before tax		482	446
Tax expense (benefit)		(109)	(94)
Net income		371	350
Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Net income		3	1
Reclassification out of Accumulated Other Comprehensive Income | (Gains) losses on cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Total before tax		5	2
Tax expense (benefit)		(1)	0
Net income		4	2
Reclassification out of Accumulated Other Comprehensive Income | (Gains) losses on cash flow hedges | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Interest expense	[1]	5	2
Reclassification out of Accumulated Other Comprehensive Income | Amortization of postretirement and postemployment benefits
Derivative Instruments, Gain (Loss) [Line Items]
Total before tax		(1)	(1)
Tax expense (benefit)		0	0
Net income		(1)	(1)
Reclassification out of Accumulated Other Comprehensive Income | Amortization of postretirement and postemployment benefits | Other income (expense)
Derivative Instruments, Gain (Loss) [Line Items]
Net experience (gain) loss	[2]	$ (1)	$ (1)
[1]	See Derivative instruments and fair value measurements note
[2]	See Employee benefits note

Equity - Summary of Accumulated

Equity - Summary of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	Apr. 03, 2021	Jan. 02, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Foreign currency translation adjustments	$ (1,659)	$ (1,668)
Cash flow hedges — unrealized net gain (loss)	4	(57)
Postretirement and postemployment benefits:
Net experience gain (loss)	1	2
Prior service credit (cost)	(12)	(12)
Available-for-sale securities unrealized net gain (loss)	1	3
Total accumulated other comprehensive income (loss)	$ (1,665)	$ (1,732)

Employee Benefits - Components

Employee Benefits - Components of Plan Benefit Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Pension | Global Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 9	$ 9
Interest cost	25	35
Expected return on plan assets	(78)	(85)
Amortization of unrecognized prior service cost (gain)	2	2
Recognized net (gain) loss	(9)	14
Total plan benefit (income) expense	(51)	(25)
Other Nonpension Postretirement | U.S. and Canada
Defined Benefit Plan Disclosure [Line Items]
Service cost	3	3
Interest cost	5	8
Expected return on plan assets	(23)	(23)
Amortization of unrecognized prior service cost (gain)	(2)	(2)
Total plan benefit (income) expense	(17)	(14)
Postemployment | Global Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	1	1
Recognized net (gain) loss	(1)	(1)
Total plan benefit (income) expense	$ 0	$ 0

Employee Benefits - Component_2

Employee Benefits - Components of Plan Benefit Expense Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
UNITED STATES | Pension
Defined Benefit Plan Disclosure [Line Items]
Recognized net (gain) loss	$ (9)	$ 14

Employee Benefits - Contributio

Employee Benefits - Contributions to Employee Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Apr. 03, 2021	Mar. 28, 2020	Jan. 02, 2021
Defined Benefit Plan Disclosure [Line Items]
Employer contributions to employee benefit plans	$ 2	$ 6	$ 32
Total current year projected employer contributions	25
Global Plans | Pension
Defined Benefit Plan Disclosure [Line Items]
Employer contributions to employee benefit plans	1	3	8
Total current year projected employer contributions	6
U.S. and Canada | Nonpension postretirement
Defined Benefit Plan Disclosure [Line Items]
Employer contributions to employee benefit plans	1	$ 3	$ 24
Total current year projected employer contributions	$ 19

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Income Tax Contingency [Line Items]
Effective income tax rate	23.00%	21.00%
Unrecognized tax benefits	$ 65
Projected additions to unrecognized tax benefits	3
Unrecognized tax benefits that would affect the effective income tax rate	56
Income tax related interest accrued	14
Other current liabilities
Income Tax Contingency [Line Items]
Unrecognized tax benefits	$ 19

Derivative Instruments and Fa_3

Derivative Instruments and Fair Value Measurements - Narrative (Details) $ in Millions	3 Months Ended
	Apr. 03, 2021USD ($)
Derivative [Line Items]
Net deferred losses reported in AOCI to be reclassified into income in the next twelve months	$ (16)
Concentration of risk, derivative instruments assets	109
Collateral posted	0
Exchange-traded commodity
Derivative [Line Items]
Margin deposits	$ 34
Five Largest Accounts | Customer Concentration Risk | Trade receivables
Derivative [Line Items]
Concentration percentage	24.00%

Derivative Instruments and Fa_4

Derivative Instruments and Fair Value Measurements - Schedule of Total Notional Amounts of Derivative Instruments (Details) - USD ($) $ in Millions	Apr. 03, 2021	Jan. 02, 2021
Derivatives, Fair Value [Line Items]
Notional amount of derivative	$ 8,336	$ 7,213
Foreign currency exchange contracts
Derivatives, Fair Value [Line Items]
Notional amount of derivative	3,278	2,856
Cross currency interest rate contract
Derivatives, Fair Value [Line Items]
Notional amount of derivative	1,383	1,411
Interest rate contracts
Derivatives, Fair Value [Line Items]
Notional amount of derivative	3,035	2,632
Commodity contracts
Derivatives, Fair Value [Line Items]
Notional amount of derivative	$ 640	$ 314

Derivative Instruments and Fa_5

Derivative Instruments and Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions		Apr. 03, 2021		Jan. 02, 2021
Derivatives, Fair Value [Line Items]
Fair Value Of Related Hedge Portion Of Long Term Debt		$ 1,200		$ 800
Long-term debt total, carrying value		6,700		6,700
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		175		90
Liabilities		(23)		(37)
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		58		74
Liabilities		(102)		(106)
Level 1 | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		0		0
Liabilities		0		0
Level 1 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		7		9
Liabilities		(8)		(1)
Level 2 | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		175		90
Liabilities		(23)		(37)
Level 2 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		51		65
Liabilities		(94)		(105)
Cross currency interest rate contract | Other current assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		31		14
Cross currency interest rate contract | Other current assets | Level 1 | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		0		0
Cross currency interest rate contract | Other current assets | Level 2 | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		31		14
Cross currency interest rate contract | Other assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		11		16
Cross currency interest rate contract | Other assets | Level 1 | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		0		0
Cross currency interest rate contract | Other assets | Level 2 | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		11		16
Cross currency interest rate contract | Other current liabilities | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(2)		(13)
Cross currency interest rate contract | Other current liabilities | Level 1 | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		0		0
Cross currency interest rate contract | Other current liabilities | Level 2 | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(2)		(13)
Cross currency interest rate contract | Other liabilities | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(16)		(21)
Cross currency interest rate contract | Other liabilities | Level 1 | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		0		0
Cross currency interest rate contract | Other liabilities | Level 2 | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(16)		(21)
Foreign currency exchange contracts | Other current assets | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		41		48
Foreign currency exchange contracts | Other current assets | Level 1 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		0		0
Foreign currency exchange contracts | Other current assets | Level 2 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		41		48
Foreign currency exchange contracts | Other assets | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		3		0
Foreign currency exchange contracts | Other assets | Level 1 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		0		0
Foreign currency exchange contracts | Other assets | Level 2 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		3		0
Foreign currency exchange contracts | Other current liabilities | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(71)		(73)
Foreign currency exchange contracts | Other current liabilities | Level 1 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		0		0
Foreign currency exchange contracts | Other current liabilities | Level 2 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(71)		(73)
Foreign currency exchange contracts | Other liabilities | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(6)		(4)
Foreign currency exchange contracts | Other liabilities | Level 1 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		0		0
Foreign currency exchange contracts | Other liabilities | Level 2 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(6)		(4)
Interest rate contracts | Other current assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		3		0
Interest rate contracts | Other current assets | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		4		4
Interest rate contracts | Other current assets | Level 1 | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		0		0
Interest rate contracts | Other current assets | Level 1 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		0		0
Interest rate contracts | Other current assets | Level 2 | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		3		0
Interest rate contracts | Other current assets | Level 2 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		4		4
Interest rate contracts | Other assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		130		60
Interest rate contracts | Other assets | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		3		13
Interest rate contracts | Other assets | Level 1 | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		0		0
Interest rate contracts | Other assets | Level 1 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		0		0
Interest rate contracts | Other assets | Level 2 | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets	[1]	130		60
Interest rate contracts | Other assets | Level 2 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		3		13
Interest rate contracts | Other current liabilities | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(1)		(3)
Interest rate contracts | Other current liabilities | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(6)		(6)
Interest rate contracts | Other current liabilities | Level 1 | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		0		0
Interest rate contracts | Other current liabilities | Level 1 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		0		0
Interest rate contracts | Other current liabilities | Level 2 | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(1)		(3)
Interest rate contracts | Other current liabilities | Level 2 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(6)		(6)
Interest rate contracts | Other liabilities | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(4)		0
Interest rate contracts | Other liabilities | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(11)		(22)
Interest rate contracts | Other liabilities | Level 1 | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		0		0
Interest rate contracts | Other liabilities | Level 1 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		0		0
Interest rate contracts | Other liabilities | Level 2 | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(4)	[1]	0
Interest rate contracts | Other liabilities | Level 2 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(11)		(22)
Commodity contracts | Other current assets | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		7		9
Commodity contracts | Other current assets | Level 1 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		7		9
Commodity contracts | Other current assets | Level 2 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		0		0
Commodity contracts | Other current liabilities | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(8)		(1)
Commodity contracts | Other current liabilities | Level 1 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(8)		(1)
Commodity contracts | Other current liabilities | Level 2 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		0		0
Net Investment Hedging
Derivatives, Fair Value [Line Items]
Long-term debt total, carrying value		$ 2,700		$ 2,800
[1]	The fair value of the related hedged portion of the Company's long-term debt, a level 2 liability, was $1.2 billion as of April 3, 2021 and $0.8 billion as of January 2, 2021.

Derivative Instruments and Fa_6

Derivative Instruments and Fair Value Measurements - Schedule of Cumulative Basis Adjustments for Fair Value Hedges (Details) - USD ($) $ in Millions		Apr. 03, 2021	Jan. 02, 2021
Derivatives, Fair Value [Line Items]
Long-term debt		$ 6,655	$ 6,746
Carrying amount of hedged liability | Fair Value Hedges | Interest rate contracts | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Long-term debt		2,956	2,568
Cumulative fair value adjustment | Fair Value Hedges | Interest rate contracts | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Long-term debt	[1]	20	25
Hedging adjustment | Discontinued Hedges | Interest rate contracts
Derivatives, Fair Value [Line Items]
Long-term debt		$ 15	$ 16
[1]	The hedged long-term debt includes $15 million and $16 million of hedging adjustment on discontinued hedging relationships as of April 3, 2021 and January 2, 2021, respectively.

Derivative Instruments and Fa_7

Derivative Instruments and Fair Value Measurements - Schedule of Offsetting Assets and Liabilities (Details) - USD ($) $ in Millions	Apr. 03, 2021	Jan. 02, 2021
Offsetting [Abstract]
Asset derivatives, Amounts Presented in the Consolidated Balance Sheet	$ 233	$ 164
Asset derivatives, Financial Instruments, Gross Amounts Not Offset in the Consolidated Balance Sheet	(94)	(116)
Asset derivatives, Cash Collateral Posted, Gross Amounts Not Offset in the Consolidated Balance Sheet	3	0
Asset derivatives, Net Amount	142	48
Liability derivatives, Amounts Presented in the Consolidated Balance Sheet	(125)	(143)
Liability derivatives, Financial Instruments, Gross Amounts Not Offset in the Consolidated Balance Sheet	94	116
Liability derivatives, Cash Collateral Received, Gross Amounts Not Offset in the Consolidated Balance Sheet	31	5
Liability derivatives, net amount	$ 0	$ (22)

Derivative Instruments and Fa_8

Derivative Instruments and Fair Value Measurements - Effect of Derivative Instruments on the Consolidated Statements of Income and Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in AOCI	$ 78	$ (65)
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	(1)	40
Not Designated as Hedging Instrument | Foreign currency exchange contracts | COGS
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	(17)	51
Not Designated as Hedging Instrument | Foreign currency exchange contracts | Selling, General and Administrative Expenses
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	4	4
Not Designated as Hedging Instrument | Foreign currency exchange contracts | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	1	0
Not Designated as Hedging Instrument | Foreign currency exchange contracts | Other income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	(1)	9
Not Designated as Hedging Instrument | Commodity contracts | COGS
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	12	(24)
Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in AOCI	130	75
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	5	9
Net Investment Hedging | Foreign currency denominated long-term debt
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in AOCI	103	9
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0
Net Investment Hedging | Cross currency interest rate contract | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in AOCI	27	66
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	$ 5	$ 9

Derivative Instruments and Fa_9

Derivative Instruments and Fair Value Measurements - Schedule of Effect of Fair Value and Cash Flow Hedge Accounting on Consolidated Statement of Income (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Interest Expense, Debt	$ 59	$ 64
Interest rate contracts | Interest expense | Designated as Hedging Instrument | Fair Value Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Hedged items	6	(1)
Derivatives designated as hedging instruments	(7)	2
Interest rate contracts | Interest expense | Designated as Hedging Instrument | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from AOCI into income	$ (5)	$ (2)

Derivative Instruments and F_10

Derivative Instruments and Fair Value Measurements - Schedule of Other Fair Value Measurements (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 03, 2021	Jan. 02, 2021
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, cost	$ 58	$ 62
Available-for-sale securities, unrealized gain (loss)	1	3
Available-for-sale securities, market value	59	$ 65
Level 2
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, market value	5
Other income (expense), net | Level 2 | Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Gain on sale of available-for-sale securities	$ 1

Derivative Instruments and F_11

Derivative Instruments and Fair Value Measurements - Schedule of Fair Value of Long-term Debt (Details) - USD ($) $ in Billions	Apr. 03, 2021	Jan. 02, 2021
Derivative Instruments and Fair Value Measurements [Abstract]
Long-term debt, fair value	$ 7.3	$ 7.7
Long-term debt total, carrying value	$ 6.7	$ 6.7

Reportable Segments (Details)

Reportable Segments (Details) $ in Millions	3 Months Ended
	Apr. 03, 2021USD ($)	Mar. 28, 2020USD ($)
Segment Reporting Information [Line Items]
Number of operating segments	4
Net sales	$ 3,584	$ 3,412
Operating profit	472	459
Operating Segments
Segment Reporting Information [Line Items]
Operating profit	549	503
Operating Segments | North America
Segment Reporting Information [Line Items]
Net sales	2,130	2,097
Operating profit	379	366
Operating Segments | Europe
Segment Reporting Information [Line Items]
Net sales	578	526
Operating profit	80	69
Operating Segments | Latin America
Segment Reporting Information [Line Items]
Net sales	236	227
Operating profit	27	22
Operating Segments | AMEA
Segment Reporting Information [Line Items]
Net sales	640	562
Operating profit	63	46
Corporate
Segment Reporting Information [Line Items]
Operating profit	$ (77)	$ (44)

Reportable Segments Supplementa

Reportable Segments Supplemental Product Information (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Segment Reporting Information [Line Items]
Net sales	$ 3,584	$ 3,412
Snacks
Segment Reporting Information [Line Items]
Net sales	1,647	1,554
Cereal
Segment Reporting Information [Line Items]
Net sales	1,374	1,325
Frozen
Segment Reporting Information [Line Items]
Net sales	297	294
Noodles and other
Segment Reporting Information [Line Items]
Net sales	$ 266	$ 239

Supplemental Financial Statem_3

Supplemental Financial Statement Data - Consolidated Balance Sheet (Unaudited) (Details) - USD ($) $ in Millions	Apr. 03, 2021	Jan. 02, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Trade receivables	$ 1,413	$ 1,272
Allowance for doubtful accounts	(22)	(19)
Redundable income taxes	19	66
Other receivables	250	218
Accounts receivable, net	1,660	1,537
Raw materials and supplies	339	338
Finished goods and materials in process	980	946
Inventories	1,319	1,284
Intangible assets not subject to amortization	2,015	2,068
Intangible assets subject to amortization, net	434	423
Other intangibles, net	$ 2,449	$ 2,491