Kellogg (K) 10-Q 1 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page	6 Months Ended
	Jun. 29, 2024 shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Entity Registrant Name	Kellanova
Document Period End Date	Jun. 29, 2024
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	412 N. Wells Street
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60654
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)	342,287,795
Amendment Flag	false
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Entity Central Index Key	0000055067
Current Fiscal Year End Date	--12-28
Common Stock, $.25 par value per share [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $.25 par value per share
Trading Symbol	K
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
0.500% Senior Notes Due 2029
Entity Information [Line Items]
Title of 12(b) Security	0.500% Senior Notes due 2029
Trading Symbol	K 29
Security Exchange Name	NYSE
3.750% Senior Notes Due 2034
Entity Information [Line Items]
Title of 12(b) Security	3.750% Senior Notes due 2034
Trading Symbol	K 34
Security Exchange Name	NYSE

CONSOLIDATED BALANCE SHEET (Una

CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($) $ in Millions	Jun. 29, 2024	Dec. 30, 2023
Current assets
Cash and cash equivalents	$ 272	$ 274
Accounts receivable, net	1,654	1,568
Inventories	1,185	1,243
Other current assets	359	245
Total current assets	3,470	3,330
Property, net	3,118	3,212
Operating lease right-of-use assets	640	661
Goodwill	5,043	5,160
Other intangibles, net	1,804	1,930
Investments in unconsolidated entities	107	184
Other assets	1,117	1,144
Total assets	15,299	15,621
Current liabilities
Current maturities of long-term debt	650	663
Notes payable	206	121
Accounts payable	2,267	2,314
Current operating lease liabilities	128	121
Accrued advertising and promotion	697	766
Accrued salaries and wages	202	278
Other current liabilities	624	797
Total current liabilities	4,774	5,060
Long-term debt	5,007	5,089
Operating lease liabilities	510	532
Deferred income taxes	526	497
Pension liability	580	613
Other liabilities	475	461
Commitments and contingencies
Equity
Common stock, $.25 par value	105	105
Capital in excess of par value	1,082	1,101
Retained earnings	9,027	8,804
Treasury stock, at cost	(4,699)	(4,794)
Accumulated other comprehensive income (loss)	(2,208)	(2,041)
Total Kellanova equity	3,307	3,175
Noncontrolling interests	120	194
Total equity	3,427	3,369
Total liabilities and equity	$ 15,299	$ 15,621

CONSOLIDATED BALANCE SHEET (U_2

CONSOLIDATED BALANCE SHEET (Unaudited) (Parenthetical) - $ / shares	Jun. 29, 2024	Dec. 30, 2023
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		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Income Statement [Abstract]
Net sales	$ 3,192	$ 3,351	$ 6,392	$ 6,693
Cost of goods sold	2,031	2,257	4,200	4,615
Selling, general and administrative expense	668	677	1,306	1,315
Operating profit	493	417	886	763
Interest expense	83	73	166	143
Other income (expense), net	33	28	76	45
Income from continuing operations before income taxes	443	372	796	665
Income taxes	97	77	179	138
Earnings (loss) from unconsolidated entities	1	3	1	5
Net income from continuing operations	347	298	618	532
Net income attributable to noncontrolling interests	3	5	7	9
Income (loss) from discontinued operations, net of taxes	0	64	0	132
Net income attributable to Kellanova	$ 344	$ 357	$ 611	$ 655
Earnings per common share - basic
Earnings (loss) from continuing operations - per common share basic	$ 1.01	$ 0.85	$ 1.79	$ 1.53
Earnings (loss) from discontinued operations - per common share basic	0	0.19	0	0.38
Net earnings (loss) per common share - basic	1.01	1.04	1.79	1.91
Earnings per common share - diluted
Earnings (loss) from continuing operations - per common share diluted	1	0.85	1.78	1.52
Earnings (loss) from discontinued operations - per common share diluted	0	0.18	0	0.38
Net earnings (loss) per common share - diluted	$ 1	$ 1.03	$ 1.78	$ 1.90
Average shares outstanding:
Basic (in shares)	342	343	342	342
Diluted (in shares)	345	345	344	345
Actual shares outstanding at period end (in shares)	342	342	342	342

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 347	$ 362	$ 618	$ 664
Other comprehensive income (loss), pre-tax:
Foreign currency translation adjustments during period, pre-tax	(78)	(383)	(350)	(341)
Net investment hedges, pre-tax
Net investment hedge gain (loss), pre-tax	28	(37)	99	(94)
Cash flow hedges, pre-tax:
Net deferred gain (loss) on cash flow hedges, pre-tax	17	15	39	(3)
Reclassification to net income, pre-tax	1	2	3	5
Postretirement and postemployment benefit amounts arising during the period, pre-tax:
Prior service (credit) cost, pre-tax	0		1
Postretirement and postemployment benefits reclassification to net income, pre-tax:
Net experience (gain) loss	(1)	0	(1)	(1)
Available-for-sale securities, pre-tax
Unrealized gain (loss) on available-for-sale securities, pre-tax		0		1
Other comprehensive income (loss), pre-tax	(33)	(403)	(209)	(433)
Other comprehensive income (loss), tax (expense) benefit
Foreign currency translation adjustments during period, tax (expense) benefit	0	(1)	0	2
Net investment hedges, tax (expense) benefit
Net investment hedge gain (loss), tax (expense) benefit	(7)	7	(25)	22
Cash flow hedges, tax (expense) benefit:
Net deferred gain (loss) on cash flow hedges, tax (expense) benefit	(4)	(4)	(10)	1
Reclassification to net income, tax (expense) benefit	(1)	0	(1)	(1)
Postretirement and postemployment benefit amounts arising during the period, tax (expense) benefit:
Prior service (credit) cost, tax (expense) benefit	0		0
Postretirement and postemployment benefits reclassification to net income, tax (expense) benefit:
Net experience loss, tax (expense) benefit	0	0	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	(12)	2	(36)	24
Other comprehensive income (loss), after tax:
Foreign currency translation adjustments during period, after-tax	(78)	(384)	(350)	(339)
Net investment hedges, after tax
Net investment hedge gain (loss), after-tax	21	(30)	74	(72)
Cash flow hedges, after tax
Net deferred gain (loss) on cash flow hedges	13	11	29	(2)
Reclassification to net income, after tax	0	2	2	4
Postretirement and postemployment benefit amounts arising during the period, after-tax:
Prior service (credit) cost, after-tax	0		1
Postretirement and postemployment benefits reclassification to net income, after-tax:
Net experience (gain) loss, after-tax	(1)	0	(1)	(1)
Available-for-sale securities, after tax
Unrealized gain (loss) on available-for-sale securities, after-tax		0		1
Other comprehensive income (loss)	(45)	(401)	(245)	(409)
Comprehensive income	302	(39)	373	255
Net income attributable to noncontrolling interests	3	5	7	9
Other comprehensive income (loss) attributable to noncontrolling interests	(8)	(171)	(78)	(174)
Comprehensive income attributable to Kellanova	$ 307	$ 127	$ 444	$ 420

CONSOLIDATED STATEMENT OF EQUIT

CONSOLIDATED STATEMENT OF EQUITY (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common Stock [Member]	Capital in excess of par value	Retained earnings	Treasury stock	Accumulated other comprehensive income (loss)	Total Kellanova equity	Non-controlling interests
Balance (in shares) at Dec. 31, 2022		421			79
Balance at Dec. 31, 2022		$ 105	$ 1,068	$ 9,197	$ (4,721)	$ (1,708)	$ 3,941	$ 434
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2022	$ 4,375
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock repurchased	(60)				$ (60)		(60)
Common stock repurchased (in shares)					1
Net income	664			655			655	9
Dividends, Common Stock	(404)			(404)			(404)
Distributions to noncontrolling interest	(13)						0	(13)
Other comprehensive income (loss)	(409)					(235)	(235)	(174)
Stock compensation	43		43				43
Stock options exercised, issuance of other stock awards and other	25		(55)	(1)	$ 81		25
Stock options exercised and other (in shares)					(1)
Balance (in shares) at Jul. 01, 2023		421			79
Balance at Jul. 01, 2023		$ 105	1,056	9,447	$ (4,700)	(1,943)	3,965	256
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Jul. 01, 2023	$ 4,221
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared - per share	$ 1.18
Balance (in shares) at Apr. 01, 2023		421			78
Balance at Apr. 01, 2023		$ 105	1,033	9,293	$ (4,666)	(1,713)	4,052	427
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Apr. 01, 2023	$ 4,479
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock repurchased	(60)				$ (60)		(60)
Common stock repurchased (in shares)					1
Net income	362			357			357	5
Dividends, Common Stock	(202)			(202)			(202)
Distributions to noncontrolling interest	(5)						0	(5)
Other comprehensive income (loss)	(401)					(230)	(230)	(171)
Stock compensation	21		21				21
Stock options exercised, issuance of other stock awards and other	27		2	(1)	$ 26		27
Stock options exercised and other (in shares)					0
Balance (in shares) at Jul. 01, 2023		421			79
Balance at Jul. 01, 2023		$ 105	1,056	9,447	$ (4,700)	(1,943)	3,965	256
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Jul. 01, 2023	$ 4,221
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared - per share	$ 0.59
Balance (in shares) at Dec. 30, 2023		421			81
Balance at Dec. 30, 2023	$ 3,175	$ 105	1,101	8,804	$ (4,794)	(2,041)	3,175	194
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 30, 2023	3,369
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	618			611			611	7
Dividends, Common Stock	(383)			(383)			(383)
Distributions to noncontrolling interest	(3)						0	(3)
Other comprehensive income (loss)	(245)					(167)	(167)	(78)
Stock compensation	41		41				41
Stock options exercised, issuance of other stock awards and other	30		(60)	(5)	$ 95		30
Stock options exercised and other (in shares)					(2)
Balance (in shares) at Jun. 29, 2024		421			79
Balance at Jun. 29, 2024	3,307	$ 105	1,082	9,027	$ (4,699)	(2,208)	3,307	120
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Jun. 29, 2024	$ 3,427
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared - per share	$ 1.12
Balance (in shares) at Mar. 30, 2024		421			80
Balance at Mar. 30, 2024		$ 105	1,063	8,878	$ (4,723)	(2,171)	3,152	126
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Mar. 30, 2024	$ 3,278
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	347			344			344	3
Dividends, Common Stock	(192)			(192)			(192)
Distributions to noncontrolling interest	(1)						0	(1)
Other comprehensive income (loss)	(45)					(37)	(37)	(8)
Stock compensation	20		20				20
Stock options exercised, issuance of other stock awards and other	20		(1)	(3)	$ 24		20
Stock options exercised and other (in shares)					(1)
Balance (in shares) at Jun. 29, 2024		421			79
Balance at Jun. 29, 2024	3,307	$ 105	$ 1,082	$ 9,027	$ (4,699)	$ (2,208)	$ 3,307	$ 120
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Jun. 29, 2024	$ 3,427
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared - per share	$ 0.56

CONSOLIDATED STATEMENT OF EQU_2

CONSOLIDATED STATEMENT OF EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared - per share	$ 0.56	$ 0.59	$ 1.12	$ 1.18

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Operating activities
Net income	$ 618	$ 664
Adjustments to reconcile net income to operating cash flows:
Depreciation and amortization	181	226
Impairment of property	60	0
Postretirement benefit plan expense (benefit)	(26)	(32)
Deferred income taxes	30	(9)
Stock compensation	41	43
Other	18	(10)
Distribution from postretirement benefit plan	175	0
Postretirement benefit plan contributions	(32)	(11)
Changes in operating assets and liabilities, net of acquisitions:
Trade receivables	(177)	(193)
Inventories	5	17
Accounts payable	63	(39)
All other current assets and liabilities	(216)	(12)
Net cash provided by (used in) operating activities	740	644
Investing activities
Additions to properties	(297)	(339)
Issuance of notes receivable	0	(4)
Purchase of marketable securities	(177)	0
Sales of marketable securities	13	0
Purchases of available for sale securities	0	(9)
Sales of available for sale securities	0	10
Settlement of net investment hedges	(7)	17
Collateral paid on derivatives	0	(18)
Other	14	(1)
Net cash provided by (used in) investing activities	(454)	(344)
Financing activities
Net issuances (reductions) of notes payable	85	(7)
Issuances of long-term debt	619	401
Reductions of long-term debt	(652)	(221)
Net issuances of common stock	45	45
Common stock repurchases	0	(60)
Cash dividends	(383)	(404)
Other	(4)	(53)
Net cash provided by (used in) financing activities	(290)	(299)
Effect of exchange rate changes on cash and cash equivalents	2	8
Increase (decrease) in cash and cash equivalents	(2)	9
Cash and cash equivalents at beginning of period	274	299
Cash and cash equivalents at end of period	272	308
Supplemental cash flow disclosures of non-cash investing activities
Additions to properties included in accounts payable	$ 99	$ 98

ACCOUNTING POLICIES (Notes)

ACCOUNTING POLICIES (Notes)	6 Months Ended
	Jun. 29, 2024
Accounting Policies [Abstract]
Accounting Policies	ACCOUNTING POLICIES Basis of presentation The unaudited interim financial information of Kellanova (the Company), formerly Kellogg 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 2023 Annual Report on Form 10-K. During the fourth quarter of 2023, the Company completed the separation of its North America cereal business resulting in two independent companies, Kellanova and WK Kellogg Co. In accordance with applicable accounting guidance, the results of WK Kellogg Co are presented as discontinued operations in the consolidated statements of operations and, as such, have been excluded from both continuing operations and segment results for all periods presented. The consolidated statements of comprehensive income, equity and cash flows are presented on a consolidated basis for both continuing operations and discontinued operations. All amounts, percentages and disclosures for all periods presented reflect only the continuing operations of Kellanova unless otherwise noted. See Note 2 for additional information. The balance sheet information at December 30, 2023 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 June 29, 2024 are not necessarily indicative of the results to be expected for other interim periods or the full year. Certain prior period amounts have been reclassified to conform with current period presentation. Accounts payable - Supplier Finance Programs The Company establishes competitive market-based terms with our suppliers, regardless of whether they participate in supplier finance programs, which generally range from 0 to 150 days dependent on their respective industry and geography. 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 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 June 29, 2024, $835 million of the Company’s outstanding payment obligations had been placed in the accounts payable tracking system. As of December 30, 2023, $825 million of the Company’s outstanding payment obligations had been placed in the accounts payable tracking system. Accounting standards to be adopted in future periods Income Taxes: Improvements to Income Tax Disclosures. In December 2023, the FASB issued ASU 2023-09 to expand the disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. It will take effect for public entities fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently assessing the impact of any incremental disclosures required by this ASU and the planned timing of adoption. Segment Reporting: Improvements to Reportable Segment Disclosures.

DISCONTINUED OPERATIONS (Notes)

DISCONTINUED OPERATIONS (Notes)	3 Months Ended
	Jun. 29, 2024
Discontinued Operations and Disposal Groups [Abstract]
Discontinued operations	DISCONTINUED OPERATIONS During the fourth quarter of 2023, the Company completed the separation of its North America cereal business resulting in two independent companies, Kellanova and WK Kellogg Co. In accordance with applicable accounting guidance, the results of WK Kellogg Co are presented as discontinued operations in the Consolidated Statement of Income and, as such, have been excluded from both continuing operations and segment results for all periods presented. The consolidated statements of cash flows are presented on a consolidated basis for both continuing operations and discontinued operations. The following table presents key components of “Income from discontinued operations, net of income taxes” for the quarter and year-to-date period ended July 1, 2023: (millions) Quarter-ended Year-to-date period ended Net sales $ 690 $ 1,401 Cost of goods sold 451 936 Selling, general and administrative expense 147 280 Operating profit $ 92 $ 185 Interest expense 9 19 Other income (expense), net 8 17 Income from discontinued operations before income taxes $ 91 $ 183 Income taxes 27 51 Net income from discontinued operations, net of tax $ 64 $ 132 The following table presents significant cash flow items from discontinued operations for the year-to-date period ended July 1, 2023: (millions) Depreciation and amortization $ 35 Additions to properties $ 76 Postretirement benefit plan expense (benefit) $ (14) In connection with the separation, WK Kellogg Co ("WKKC") entered into several agreements with Kellanova that govern the relationship of the parties following the spin-off including a Separation and Distribution Agreement, a Manufacturing and Supply Agreement (“Supply Agreement”), a Tax Matters Agreement, Employee Matters Agreement, Transition Services Agreement (“TSA”), and various lease agreements. Pursuant to the TSA, both Kellanova and WK Kellogg Co agreed to provide certain services to each other, on an interim, transitional basis from and after the separation and the distribution for a duration of up to 2 years following the spin-off. The TSA covers various services such as supply chain, IT, commercial, sales, Finance, HR, R&D and other Corporate. The remuneration to be paid for such services is generally intended to allow the company providing the services to recover all of its costs and expenses of providing such services. The costs and reimbursements related to services provided by Kellanova under the TSA are recorded in continuing operations within the Consolidated Statement of Income. Kellanova recorded approximate ly $44 million and $91 million of cost reimbursements related to the TSA for the quarter and year-to-date period ended June 29, 2024, respectively, of which $29 million and $62 million is recognized in COGS, respectively, and $15 million and $29 million in SGA, respectively, in the Consolidated Statement of Income. These reimbursements are a direct offset within the Consolidated Statement of Income to the costs incurred related to providing services under the TSA. Pursuant to the Supply Agreement, Kellanova will continue to supply certain inventory to WKKC for a period of up to 3 years following the spin-off. During the quarter and year-to-date period ended June 29, 2024, the Company recognized net sales to

SALE OF ACCOUNTS RECEIVABLE (No

SALE OF ACCOUNTS RECEIVABLE (Notes)	6 Months Ended
	Jun. 29, 2024
Transfers and Servicing of Financial Assets [Abstract]
Sale of accounts receivable	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 approximately $975 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 June 29, 2024 and December 30, 2023 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 $765 million and $697 million remained outstanding under these arrangements as of June 29, 2024 and December 30, 2023, 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 $11 million for both quarters ended June 29, 2024 and July 1, 2023. The recorded net loss on sale of receivables was $22 million and $19 million for the year-to-date period ended June 29, 2024 and July 1, 2023, respectively. The recorded loss is included in Other income and expense (OIE). Other programs

RESTRUCTURING (Notes)

RESTRUCTURING (Notes)	3 Months Ended
	Jun. 29, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Cost Reduction Activities	RESTRUCTURING The Company views its restructuring programs as part of its operating principles to provide greater visibility in achieving its long-term profit growth and margin targets. Initiatives undertaken are generally expected to recover cash implementation costs within a 1 to 5-year period subsequent to completion. Completion (or as each major stage is completed in the case of multi-year programs) is when the project begins to deliver cash savings and/or reduced depreciation. In the first quarter of 2024, the Company announced a reconfiguration of the North America frozen supply chain network, designed to drive increased productivity. The project is expected to be substantially completed by late 2024, with cost savings beginning to contribute to gross margin improvements in the second half of 2024 and reaching full-run rate in 2025. The overall project is expected to result in cumulative pretax charges of approximately $50 million, which include employee-related costs of $10 million, other cash costs of $10 million, and non-cash costs, primarily consisting of asset impairment, accelerated depreciation, and asset disposals of $30 million. Charges incurred related to this restructuring program were $9 million and $40 million during the quarter and year-to-date period ended June 29, 2024, respectively. These charges primarily related to severance costs and asset impairment, and were recorded in COGS. In the first quarter of 2024, the Company proposed a reconfiguration of the European cereal supply chain network and completed collective bargaining obligations and consultation with impacted employees during the quarter ended June 29, 2024. The project, designed to drive efficiencies, is expected to be substantially completed by late 2026, with resulting efficiencies expected to begin contributing to gross margin improvements in late 2026. The overall project is expected to result in cumulative pretax charges of approximately $120 million, which include employee-related costs of $50 million, other cash costs of $30 million, and non-cash costs, primarily consisting of asset impairment, accelerated depreciation, and asset disposals of $40 million. Charges incurred related to this restructuring program were immaterial during the quarter ended June 29, 2024 and were $69 million during the year-to-date period ended June 29, 2024. These charges primarily related to severance costs and asset impairment and were recorded in COGS. The tables below provide the details for charges incurred during the quarter and year-to-date period ended June 29, 2024. Quarter ended Year-to-date period ended Program costs to date (millions) June 29, 2024 June 29, 2024 June 29, 2024 Employee related costs $ — $ 37 $ 37 Asset related costs 4 8 8 Asset impairment — 60 60 Other costs 4 4 4 Total $ 8 $ 109 $ 109 Quarter ended Year-to-date period ended Program costs to date (millions) June 29, 2024 June 29, 2024 June 29, 2024 North America $ 9 $ 40 $ 40 Europe (1) 69 69 Total $ 8 $ 109 $ 109 All other restructuring projects were immaterial during the periods presented. At June 29, 2024, total project reserves for the European and North American reorganizations were $30 million and $4 million , respectively. The reserves were related to severance payments and other costs of which a substantial portion will not be paid during the current year. The following table provides details for exit cost reserves related to the European and North American reorganizations described above. Employee Asset Asset Other Total Liability as of December 30, 2023 $ — $ — $ — $ — $ — 2024 restructuring charges 37 60 8 4 109 Cash payments (2) — — (4) (6) Non-cash charges and other (1) (60) (8) — (69) Liability as of June 29, 2024 $ 34 $ — $ — $ — $ 34

DIVESTITURE (Notes)

DIVESTITURE (Notes)	3 Months Ended
	Jun. 29, 2024
Discontinued Operations and Disposal Groups [Abstract]
Divestiture	DIVESTITURES Russia

INVESTMENTS IN UNCONSOLIDATED E

INVESTMENTS IN UNCONSOLIDATED ENTITIES (Notes)	6 Months Ended
	Jun. 29, 2024
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments and Joint Ventures Disclosure	The Company holds a 50% ownership interest in Tolaram Africa Foods, PTE LTD (TAF), a holding company with a 49% interest in Dufil Prima Foods, Plc, a food manufacturer in West Africa. The carrying value of the investment in TAF at June 29, 2024 and December 30, 2023 was $91 million and $173 million, respectively. The investment in TAF is accounted for under the equity method of accounting and is evaluated for indicators of other than temporary impairment. The company records the activity of TAF on a one-month lag due to the timing required to obtain the financial statements from TAF management. During the second quarter of 2023, the Company recorded an out-of-period adjustment to correct an error in the foreign currency translation of its investment in TAF. The adjustment decreased investments in unconsolidated entities and increased other comprehensive loss by $113 million, respectively. We determined the adjustment to be immaterial to our Consolidated Financial Statements for the quarter and year to date periods ended July 1, 2023 and related prior annual and quarterly periods.

EQUITY (Notes)

EQUITY (Notes)	3 Months Ended
	Jun. 29, 2024
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 certain contingently issuable performance shares. There were approximately 4 million and 6 million anti-dilutive potential common shares excluded from the calculation for the quarter and year-to-date periods ended June 29, 2024. There were approximately 4 million anti-dilutive potential common shares excluded from the calculation for the quarter and year-to-date periods ended July 1, 2023. Please refer to the Consolidated Statement of Income for basic and diluted earnings per share for the quarters ended June 29, 2024 and July 1, 2023. Share repurchases In December 2022, the Board of Directors approved an authorization to repurchase up to $1.5 billion of our common stock through December 2025. During the quarter and year-to-date periods ended June 29, 2024, the Company did not repurchase any shares of common stock. During the quarter and year-to-date periods ended July 1, 2023, the Company repurchased approximately 1 million shares of common stock for a total of $60 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 consists of foreign currency translation adjustments, fair value adjustments associated with cash flow hedges, which are recorded in interest expense within the statement of income, upon reclassification from Accumulated Other Comprehensive Income (AOCI), adjustments for net experience gains (losses), prior service credit (costs) related to employee benefit plans and adjustments for unrealized (gains) losses on available-for-sale securities, which are recorded in other income (expense) within the statement of income, upon reclassification from AOCI. The related tax effects of these items are recorded in income tax expense within the statement of income, upon reclassification from AOCI. Accumulated other comprehensive income (loss), net of tax, as of June 29, 2024 and December 30, 2023 consisted of the following: (millions) June 29, December 30, Foreign currency translation adjustments $ (2,598) $ (2,326) Net investment hedges gain (loss) 260 186 Cash flow hedges — net deferred gain (loss) 174 143 Postretirement and postemployment benefits: Net experience gain (loss) — 1 Prior service credit (cost) (44) (45) Total accumulated other comprehensive income (loss) $ (2,208) $ (2,041)

NOTES PAYABLE AND LONG-TERM DEB

NOTES PAYABLE AND LONG-TERM DEBT (notes)	6 Months Ended
	Jun. 29, 2024
Debt Disclosure [Abstract]
Notes payable and long-term debt	NOTES PAYABLE AND LONG-TERM DEBT The following table presents the components of Notes payable at June 29, 2024 and December 30, 2023: June 29, 2024 December 30, 2023 (millions) Principal Effective Principal Effective U.S. commercial paper $ 79 5.49 % $ — — % Bank borrowings 127 121 Total $ 206 $ 121 During the second quarter of 2024, Kellanova issued $300 million of thirty-year 5.75% Notes due 2054, resulting in net proceeds after discount and underwriting commissions of $296 million. In connection with the debt issuance, the Company recorded gains totaling $161 million, including approximately a $11 million gain realized in the second quarter, on forward starting swaps with a notional value of $300 million. These gains were recorded in accumulated other comprehensive income and will be amortized to interest expense over the term of the Notes. The average effective interest rate over the term of the Notes, reflecting issuance discount and hedge settlement is 4.0%. Additionally, during the second quarter of 2024, Kellanova issued €300 million of ten-year 3.75% Notes due 2034, resulting in net proceeds after discount and underwriting commissions of €297 million. In connection with the debt issuance, the Company recorded gains totaling €51 million, including approximately a €5 million loss realized in the second quarter, on forward starting swaps with a notional value of €250 million. These gains were recorded in accumulated other comprehensive income and will be amortized to interest expense over the term of the Notes. The average effective interest rate over the term of the Notes, reflecting issuance discount and hedge settlement is 2.2%. The proceeds from these notes were used for general corporate purposes, including the payment of offering related fees and expenses, repayment of a portion of the €600 million 1.0% Notes when they matured on May 17, 2024. 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, as well as a change of control provision.

EMPLOYEE BENEFITS (Notes)

EMPLOYEE BENEFITS (Notes)	6 Months Ended
	Jun. 29, 2024
Retirement Benefits [Abstract]
Employee Benefits	EMPLOYEE BENEFITS The 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 2023 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 Year-to-date period ended (millions) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Service cost $ 4 $ 4 $ 8 $ 8 Interest cost 35 36 70 72 Expected return on plan assets (41) (44) (82) (89) Amortization of unrecognized prior service cost 2 1 4 2 Total pension (income) expense $ — $ (3) $ — $ (7) Other nonpension postretirement Quarter ended Year-to-date period ended (millions) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Service cost $ — $ 1 $ 1 $ 1 Interest cost 3 4 7 8 Expected return on plan assets (9) (9) (18) (18) Amortization of unrecognized prior service cost (2) (1) (3) (2) Recognized net (gain) loss — — (13) — Total postretirement benefit (income) expense $ (8) $ (5) $ (26) $ (11) The Company contributes to voluntary employee benefit association (VEBA) trusts to fund certain U.S. retiree health and welfare benefit obligations. During the first quarter of 2024, the Company amended the plan to create a sub-trust to permit the payment of certain benefits for active union employees using a surplus totaling $175 million from the retiree plan, which represents a portion of the plan's total surplus. This amount was converted to cash and treated as a one-time transfer to a sub-trust that was then invested in marketable securities and will be used to pay for these active union employee benefits. As a result of its designation for this purpose, the transferred amount is no longer considered an asset of the retiree plan and is included in Other current assets and Other assets dependent on the expected holding period on the Consolidated Balance Sheet as of June 29, 2024. The one-time transfer of cash from the VEBA trust to the sub-trust was treated as a distribution from the plan in operating activities on the Consolidated Statement of Cash Flows and the investment in marketable securities to fund the active union employee benefits was treated as an investing activity in the Consolidated Statement of Cash Flows. For the year-to-date period ended June 29, 2024, the Company recognized a gain of $13 million related to the remeasurement of other postretirement benefit plans. These remeasurements were the result of the transfer of assets noted above. The remeasurements recognized were due primarily to the increase in discount rates versus the prior year-end and higher than expected return on plan assets. Postemployment benefit plan expense for the quarters and year-to-date periods ended June 29, 2024 and July 1, 2023 were not material. Exclusive of the negative contribution discussed above, Company contributions to employee benefit plans are summarized as follows: (millions) Pension Nonpension postretirement Total Quarter ended: June 29, 2024 $ 9 $ 1 $ 10 July 1, 2023 $ — $ 4 $ 4 Year-to-date period ended: June 29, 2024 $ 28 $ 4 $ 32 July 1, 2023 $ — $ 7 $ 7 Full year: Fiscal year 2024 (projected) $ 46 $ 18 $ 64 Fiscal year 2023 (actual) $ 25 $ 10 $ 35 Plan funding strategies may be modified in response to management's evaluation of tax deductibility, market conditions, and competing investment alternatives.

INCOME TAXES (Notes)

INCOME TAXES (Notes)	6 Months Ended
	Jun. 29, 2024
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The consolidated effective tax rate for the quarter and year-to-date periods ended June 29, 2024 was 22%. The consolidated effective tax rate for the quarter and year-to-date periods ended July 1, 2023 was 21%. As of June 29, 2024, the Company classified $8 million of unrecognized tax benefits as a 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 June 29, 2024 was $34 million. Of this balance, $29 million represents the amount that, if recognized, would affect the Company’s effective income tax rate in future periods. The accrual balance for tax-related interest was approximately $5 million at June 29, 2024.

DERIVATIVE INSTRUMETNS AND FAIR

DERIVATIVE INSTRUMETNS AND FAIR VALUE MEASUREMENTS (Notes)	6 Months Ended
	Jun. 29, 2024
Derivative Instruments and Fair Value Measurements [Abstract]
Derivative Instruments and Fair Value Measurements	DERIVATIVE INSTRUMENTS AND FAIR VALUE 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 June 29, 2024 and December 30, 2023 were as follows: (millions) June 29, December 30, Foreign currency exchange contracts $ 3,361 $ 3,141 Cross-currency contracts 1,945 1,707 Interest rate contracts 1,050 2,289 Commodity contracts 308 201 Total $ 6,664 $ 7,338 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 June 29, 2024 and December 30, 2023, 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 June 29, 2024 or December 30, 2023. The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheet on a recurring basis as of June 29, 2024 and December 30, 2023: Derivatives designated as hedging instruments June 29, 2024 December 30, 2023 (millions) Level 1 Level 2 Total Level 1 Level 2 Total Assets: Cross-currency contracts: Other current assets $ — $ 16 $ 16 $ — $ 12 $ 12 Other assets — 31 31 — 4 4 Interest rate contracts: Other current assets — — — — — — Other assets — — — — — — Total assets $ — $ 47 $ 47 $ — $ 16 $ 16 Liabilities: Cross-currency contracts: Other current liabilities $ — $ (5) $ (5) $ — $ (17) $ (17) Other liabilities — (3) (3) — (15) (15) Interest rate contracts(a): Other current liabilities — — — — (44) (44) Other liabilities — (48) (48) — (45) (45) Total liabilities $ — $ (56) $ (56) $ — $ (121) $ (121) (a) The fair value of the related hedged portion of the Company's long-term debt, a Level 2 liability, was $0.4 billion as of June 29, 2024 and $1.1 billion as of December 30, 2023, respectively. Derivatives not designated as hedging instruments June 29, 2024 December 30, 2023 (millions) Level 1 Level 2 Total Level 1 Level 2 Total Assets: Foreign currency exchange contracts: Other current assets $ — $ 44 $ 44 $ — $ 51 $ 51 Other assets — 6 6 — 4 4 Interest rate contracts: Other current assets — 9 9 — 9 9 Other assets — 3 3 — 4 4 Commodity contracts: Other current assets 6 — 6 2 — 2 Total assets $ 6 $ 62 $ 68 $ 2 $ 68 $ 70 Liabilities: Foreign currency exchange contracts: Other current liabilities $ — $ (34) $ (34) $ — $ (54) $ (54) Other liabilities — (3) (3) — (6) (6) Interest rate contracts: Other current liabilities — (11) (11) — (11) (11) Other liabilities — (4) (4) — (6) (6) Commodity contracts: Other current liabilities (4) — (4) (2) — (2) Total liabilities $ (4) $ (52) $ (56) $ (2) $ (77) $ (79) 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 $1.0 billion and $1.7 billion as of June 29, 2024 and December 30, 2023, respectively. The following amounts were recorded on the Consolidated Balance Sheet related to cumulative basis adjustments for existing fair value hedges as of June 29, 2024 and December 30, 2023. (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) June 29, December 30, June 29, December 30, Interest rate contracts Current maturities of long-term debt $ 645 $ 655 $ 3 $ (8) Interest rate contracts Long-term debt $ 997 $ 1,666 $ (50) $ (43) (a) The fair value adjustment related to current maturities of long-term debt includes $3 million and $2 million from discontinued hedging relationships as of June 29, 2024 and December 30, 2023, respectively. The fair value adjustment related to long-term debt includes $(2) million and $3 million from discontinued hedging relationships as of June 29, 2024 and December 30, 2023, 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 June 29, 2024 and December 30, 2023 would be adjusted as detailed in the following table: As of June 29, 2024: Gross Amounts Not Offset in the Amounts Financial Cash Collateral Net Total asset derivatives $ 115 $ (87) $ 36 $ 64 Total liability derivatives $ (112) $ 87 $ 25 $ — As of December 30, 2023: Gross Amounts Not Offset in the Amounts Financial Cash Collateral Net Total asset derivatives $ 86 $ (84) $ — $ 2 Total liability derivatives $ (200) $ 84 $ 68 $ (48) During the quarter and year-to-date periods ended June 29, 2024, the Company settled certain interest rate contracts resulting in a net realized gain of approximately $11 million. During the year-to-date period ended July 1, 2023, the Company settled certain interest rate contracts resulting in a net realized gain of approximately $71 million, respectively. These derivatives were accounted for as cash flow hedges and the related net gains were recorded in accumulated other comprehensive income and will be amortized to interest expense over the term of the related U.S. dollar fixed rate debt. During the quarter and year-to-date periods ended June 29, 2024 , the Company settled certain interest rate contracts resulting in a net realized loss of approximately €5 million. These derivatives were accounted for as cash flow hedges and the related net gains were recorded in accumulated other comprehensive income and will be amortized to interest expense over the term of the related Euro fixed rate debt. During the year-to-date periods June 29, 2024 and July 1, 2023, the Company settled certain cross currency swaps resulting in a net realized loss of approximately $7 million and a net realized gain of approximately $17 million, respectively. These cross currency swaps were accounted for as net investment hedges and the related net gain (loss) was recorded in accumulated other comprehensive income. The effect of derivative instruments on the Consolidated Statements of Income and Comprehensive Income for the quarters ended June 29, 2024 and July 1, 2023 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 June 29, July 1, June 29, July 1, Foreign currency denominated long-term debt $ 14 $ (2) — $ — Cross-currency contracts 14 (35) 6 14 Interest expense Total $ 28 $ (37) $ 6 $ 14 Derivatives not designated as hedging instruments (millions) Location of gain Gain (loss) June 29, July 1, Foreign currency exchange contracts COGS $ 14 $ (7) Foreign currency exchange contracts Other income (expense), net 2 (6) Foreign currency exchange contracts SG&A 2 (3) Commodity contracts COGS (32) (28) Total $ (14) $ (44) The effect of derivative instruments on the Consolidated Statements of Income and Comprehensive Income for the year-to-date periods ended June 29, 2024 and July 1, 2023 was as follows: (millions) Gain (loss) Gain (loss) excluded from assessment of hedge effectiveness Location of gain (loss) in income of excluded component June 29, July 1, June 29, July 1, Foreign currency denominated long-term debt $ 51 $ (34) $ — $ — Cross-currency contracts 48 (60) 14 28 Interest expense Total $ 99 $ (94) $ 14 $ 28 (millions) Location of gain Gain (loss) June 29, July 1, Foreign currency exchange contracts COGS $ 13 $ (15) Foreign currency exchange contracts Other income (expense), net 6 (10) Foreign currency exchange contracts SGA 11 (5) Commodity contracts COGS (49) (63) Total $ (19) $ (93) The effect of fair value and cash flow hedge accounting on the Consolidated Income Statement for the quarters ended June 29, 2024 and July 1, 2023: June 29, 2024 July 1, 2023 (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 $ 83 $ 73 Gain (loss) on fair value hedging relationships: Interest contracts: Hedged items (4) 8 Derivatives designated as hedging instruments 6 (7) Gain (loss) on cash flow hedging relationships: Interest contracts: Amount of gain (loss) reclassified from AOCI into income (1) (2) The effect of fair value and cash flow hedge accounting on the Consolidated Income Statement for the year-to-date periods ended June 29, 2024 and July 1, 2023: June 29, 2024 July 1, 2023 (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 $ 166 $ 143 Gain (loss) on fair value hedging relationships: Interest contracts: Hedged items (3) (4) Derivatives designated as hedging instruments 7 6 Gain (loss) on cash flow hedging relationships: Interest contracts: Amount of gain (loss) reclassified from AOCI into income (3) (5) During the next 12 months, the Company expects $1 million of net deferred gains reported in AOCI at June 29, 2024 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 when the value exceeds certain thresholds with each counterparty. In addition, certain derivative instruments contain provisions that would be triggered in the event the Company defaults on its debt agreements. The collateral posting requirements as of June 29, 2024, triggered by threshold contingent features was not material. Other fair value measurements Fair value measurements on a nonrecurring basis During the quarter ended March 30, 2024, the Company announced the reconfiguration of the North America frozen supply chain network and the proposed reconfiguration of the European cereal supply chain network. As part of these programs, the Company will be consolidating the usage of and disposing certain long-lived assets, including manufacturing facilities. See Note 4 for more information regarding these restructuring programs. During the year-to-date period ended June 29, 2024, long-lived assets of $62 million related to a frozen foods manufacturing facility in the Company's North America reportable segment, were written down to an estimated fair value of less than $41 million resulting in an impairment charge of $21 million recorded in COGS. During the the year-to-date period ended June 29, 2024, long-lived assets of $99 million related to a cereal manufacturing facility in the Company's Europe reportable segment, were written down to an estimated fair value of $60 million resulting in an impairment charge of $39 million recorded in COGS. The Company's calculation of the fair value of these long-lived assets is based on Level 3 inputs, including market comparables, market trends and the condition of the assets. Available for sale securities During the year-to-date period ended July 1, 2023, the Company sold approximately $10 million of investments in level 2 corporate bonds. The resulting loss was less than $1 million and recorded in Other income and (expense). Also during the year-to-date period ended July 1, 2023, the Company purchased approximately $9 million in level 2 corporate bonds. The market values of the Company's investments in Level 2 corporate bonds are based on matrices or models from pricing vendors. Unrealized gains and losses are included in the Consolidated Statement of Comprehensive Income. Additionally, these investments are recorded within Other current assets and Other assets on the Consolidated Balance Sheet, based on the maturity of the individual security. 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. Marketable securities During the first quarter of 2024, the Company amended the U.S. retiree health and welfare plan to create a sub-trust to permit the payment of certain benefits for active union employees using a surplus totaling $175 million from the retiree plan. During the quarter ended March 30, 2024, the Company invested the $175 million in a short term investment fund that primarily holds short term debt instruments. These marketable securities are measured at Level 1 quoted market prices. As of June 29, 2024, the Company sold approximately $13 million of these marketable securities and the related proceeds were used to pay for certain benefits of active union employees. The fair value of the marketable securities was approximately $164 million as of June 29, 2024. Classification of marketable securities as current or noncurrent is dependent upon our intended holding period. Equity investments We hold equity investments in certain companies that we do not have the ability to exercise significant influence. Equity investments without a readily determinable fair value are recorded at original cost. Investments with a readily determinable fair value, which are Level 2 investments, are measured at fair value based on observable market price changes, with gains and losses recorded through net earnings. Equity investments were approximately $40 million as of June 29, 2024 and December 30, 2023. Additionally, these investments were recorded within Other noncurrent assets on the Consolidated Balance Sheet. 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 $4.8 billion and $5.0 billion, respectively, as of June 29, 2024. The fair value and carrying value of the Company's long-term debt was $5.0 billion and $5.1 billion, respectively, as of December 30, 2023. 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, net of collateral already received from those counterparties. As of June 29, 2024, the concentration of credit risk to the Company was immaterial. 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 June 29, 2024, the Company posted $49 million related to reciprocal collateralization agreements. As of June 29, 2024, the Company posted $11 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.

REPORTABLE SEGMENTS (Notes)

REPORTABLE SEGMENTS (Notes)	6 Months Ended
	Jun. 29, 2024
Segment Reporting [Abstract]
Reportable Segments	REPORTABLE SEGMENTS Kellanova is a leading producer of snacks, cereal, and frozen foods. It is the second largest producer of crackers, and a leading producer of savory snacks and cereal. Additional product offerings include toaster pastries, cereal bars, veggie foods and noodles. Kellanova products are manufactured and marketed globally. Principal markets for these products include the United States, United Kingdom, Nigeria, Canada, Mexico, and Australia. 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 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. Corporate includes corporate administration and initiatives as well as share-based compensation. 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 Year-to-date period ended (millions) June 29, July 1, June 29, July 1, Net sales North America $ 1,658 $ 1,645 $ 3,346 $ 3,331 Europe 639 668 1,238 1,272 Latin America 333 326 647 609 AMEA 564 712 1,164 1,482 Total Reportable Segments 3,194 3,351 6,395 6,694 Corporate (2) — (3) (1) Consolidated $ 3,192 $ 3,351 $ 6,392 $ 6,693 Operating profit North America $ 339 $ 280 $ 674 $ 549 Europe 111 104 139 196 Latin America 46 36 73 58 AMEA 60 67 135 141 Total Reportable Segments 556 487 1,021 944 Corporate (63) (70) (135) (181) Consolidated $ 493 $ 417 $ 886 $ 763 Supplemental product information is provided below for net sales to external customers: Quarter ended Year-to-date period ended (millions) June 29, July 1, June 29, July 1, Snacks $ 2,069 $ 2,052 $ 4,084 $ 4,074 Cereal 689 707 1,376 1,386 Frozen 262 265 552 557 Noodles and other 172 327 380 676 Consolidated $ 3,192 $ 3,351 $ 6,392 $ 6,693

SUPPLEMENTAL FINANCIAL STATEMEN

SUPPLEMENTAL FINANCIAL STATEMENT DATA (Notes)	6 Months Ended
	Jun. 29, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Balance Sheet Disclosures	SUPPLEMENTAL FINANCIAL STATEMENT DATA Consolidated Balance Sheet (millions) June 29, 2024 (unaudited) December 30, 2023 Trade receivables $ 1,381 $ 1,246 Allowance for credit losses (16) (16) Refundable income taxes 66 74 Other receivables 223 264 Accounts receivable, net $ 1,654 $ 1,568 Raw materials and supplies $ 310 $ 303 Finished goods and materials in process 875 940 Inventories $ 1,185 $ 1,243 Intangible assets not subject to amortization $ 1,677 $ 1,750 Intangible assets subject to amortization, net 127 180 Other intangibles, net $ 1,804 $ 1,930

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Pay vs Performance Disclosure
Net income attributable to Kellanova	$ 344	$ 357	$ 611	$ 655

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jun. 29, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 29, 2024
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The unaudited interim financial information of Kellanova (the Company), formerly Kellogg 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 2023 Annual Report on Form 10-K. During the fourth quarter of 2023, the Company completed the separation of its North America cereal business resulting in two independent companies, Kellanova and WK Kellogg Co. In accordance with applicable accounting guidance, the results of WK Kellogg Co are presented as discontinued operations in the consolidated statements of operations and, as such, have been excluded from both continuing operations and segment results for all periods presented. The consolidated statements of comprehensive income, equity and cash flows are presented on a consolidated basis for both continuing operations and discontinued operations. All amounts, percentages and disclosures for all periods presented reflect only the continuing operations of Kellanova unless otherwise noted. See Note 2 for additional information. The balance sheet information at December 30, 2023 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 June 29, 2024 are not necessarily indicative of the results to be expected for other interim periods or the full year. Certain prior period amounts have been reclassified to conform with current period presentation.
Accounts payable - Supplier Finance Programs	Accounts payable - Supplier Finance Programs The Company establishes competitive market-based terms with our suppliers, regardless of whether they participate in supplier finance programs, which generally range from 0 to 150 days dependent on their respective industry and geography. 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 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 June 29, 2024, $835 million of the Company’s outstanding payment obligations had been placed in the accounts payable tracking system. As of December 30, 2023, $825 million of the Company’s outstanding payment obligations had been placed in the accounts payable tracking system.
Accounting standards adopted in the period	Accounting standards to be adopted in future periods Income Taxes: Improvements to Income Tax Disclosures. In December 2023, the FASB issued ASU 2023-09 to expand the disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. It will take effect for public entities fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently assessing the impact of any incremental disclosures required by this ASU and the planned timing of adoption. Segment Reporting: Improvements to Reportable Segment Disclosures.

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	3 Months Ended
	Jun. 29, 2024
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Key Components of Income from Discontinued Operations	(millions) Quarter-ended Year-to-date period ended Net sales $ 690 $ 1,401 Cost of goods sold 451 936 Selling, general and administrative expense 147 280 Operating profit $ 92 $ 185 Interest expense 9 19 Other income (expense), net 8 17 Income from discontinued operations before income taxes $ 91 $ 183 Income taxes 27 51 Net income from discontinued operations, net of tax $ 64 $ 132
Schedule Of Disposal Groups Including Discontinued Operations Cash Flow Information	(millions) Depreciation and amortization $ 35 Additions to properties $ 76 Postretirement benefit plan expense (benefit) $ (14)

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	3 Months Ended
	Jun. 29, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Cost Reduction Activities	The tables below provide the details for charges incurred during the quarter and year-to-date period ended June 29, 2024. Quarter ended Year-to-date period ended Program costs to date (millions) June 29, 2024 June 29, 2024 June 29, 2024 Employee related costs $ — $ 37 $ 37 Asset related costs 4 8 8 Asset impairment — 60 60 Other costs 4 4 4 Total $ 8 $ 109 $ 109 Quarter ended Year-to-date period ended Program costs to date (millions) June 29, 2024 June 29, 2024 June 29, 2024 North America $ 9 $ 40 $ 40 Europe (1) 69 69 Total $ 8 $ 109 $ 109
Schedule of Exit Cost Reserves	Employee Asset Asset Other Total Liability as of December 30, 2023 $ — $ — $ — $ — $ — 2024 restructuring charges 37 60 8 4 109 Cash payments (2) — — (4) (6) Non-cash charges and other (1) (60) (8) — (69) Liability as of June 29, 2024 $ 34 $ — $ — $ — $ 34

EQUITY (Tables)

EQUITY (Tables)	6 Months Ended
	Jun. 29, 2024
Equity [Abstract]
Summary of Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive income (loss), net of tax, as of June 29, 2024 and December 30, 2023 consisted of the following: (millions) June 29, December 30, Foreign currency translation adjustments $ (2,598) $ (2,326) Net investment hedges gain (loss) 260 186 Cash flow hedges — net deferred gain (loss) 174 143 Postretirement and postemployment benefits: Net experience gain (loss) — 1 Prior service credit (cost) (44) (45) Total accumulated other comprehensive income (loss) $ (2,208) $ (2,041)

NOTES PAYABLE AND LONG-TERM D_2

NOTES PAYABLE AND LONG-TERM DEBT (Tables)	6 Months Ended
	Jun. 29, 2024
Debt Disclosure [Abstract]
Components of Notes Payable	The following table presents the components of Notes payable at June 29, 2024 and December 30, 2023: June 29, 2024 December 30, 2023 (millions) Principal Effective Principal Effective U.S. commercial paper $ 79 5.49 % $ — — % Bank borrowings 127 121 Total $ 206 $ 121

EMPLOYEE BENEFITS (Tables)

EMPLOYEE BENEFITS (Tables)	6 Months Ended
	Jun. 29, 2024
Retirement Benefits [Abstract]
Components of Plan Benefit Expense	Pension Quarter ended Year-to-date period ended (millions) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Service cost $ 4 $ 4 $ 8 $ 8 Interest cost 35 36 70 72 Expected return on plan assets (41) (44) (82) (89) Amortization of unrecognized prior service cost 2 1 4 2 Total pension (income) expense $ — $ (3) $ — $ (7) Other nonpension postretirement Quarter ended Year-to-date period ended (millions) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Service cost $ — $ 1 $ 1 $ 1 Interest cost 3 4 7 8 Expected return on plan assets (9) (9) (18) (18) Amortization of unrecognized prior service cost (2) (1) (3) (2) Recognized net (gain) loss — — (13) — Total postretirement benefit (income) expense $ (8) $ (5) $ (26) $ (11)
Contributions to Employee Benefit Plans	Company contributions to employee benefit plans are summarized as follows: (millions) Pension Nonpension postretirement Total Quarter ended: June 29, 2024 $ 9 $ 1 $ 10 July 1, 2023 $ — $ 4 $ 4 Year-to-date period ended: June 29, 2024 $ 28 $ 4 $ 32 July 1, 2023 $ — $ 7 $ 7 Full year: Fiscal year 2024 (projected) $ 46 $ 18 $ 64 Fiscal year 2023 (actual) $ 25 $ 10 $ 35

DERIVATIVE INSTRUMENTS AND FAIR

DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 29, 2024
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 June 29, 2024 and December 30, 2023 were as follows: (millions) June 29, December 30, Foreign currency exchange contracts $ 3,361 $ 3,141 Cross-currency contracts 1,945 1,707 Interest rate contracts 1,050 2,289 Commodity contracts 308 201 Total $ 6,664 $ 7,338
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 June 29, 2024 and December 30, 2023: Derivatives designated as hedging instruments June 29, 2024 December 30, 2023 (millions) Level 1 Level 2 Total Level 1 Level 2 Total Assets: Cross-currency contracts: Other current assets $ — $ 16 $ 16 $ — $ 12 $ 12 Other assets — 31 31 — 4 4 Interest rate contracts: Other current assets — — — — — — Other assets — — — — — — Total assets $ — $ 47 $ 47 $ — $ 16 $ 16 Liabilities: Cross-currency contracts: Other current liabilities $ — $ (5) $ (5) $ — $ (17) $ (17) Other liabilities — (3) (3) — (15) (15) Interest rate contracts(a): Other current liabilities — — — — (44) (44) Other liabilities — (48) (48) — (45) (45) Total liabilities $ — $ (56) $ (56) $ — $ (121) $ (121) (a) The fair value of the related hedged portion of the Company's long-term debt, a Level 2 liability, was $0.4 billion as of June 29, 2024 and $1.1 billion as of December 30, 2023, respectively. Derivatives not designated as hedging instruments June 29, 2024 December 30, 2023 (millions) Level 1 Level 2 Total Level 1 Level 2 Total Assets: Foreign currency exchange contracts: Other current assets $ — $ 44 $ 44 $ — $ 51 $ 51 Other assets — 6 6 — 4 4 Interest rate contracts: Other current assets — 9 9 — 9 9 Other assets — 3 3 — 4 4 Commodity contracts: Other current assets 6 — 6 2 — 2 Total assets $ 6 $ 62 $ 68 $ 2 $ 68 $ 70 Liabilities: Foreign currency exchange contracts: Other current liabilities $ — $ (34) $ (34) $ — $ (54) $ (54) Other liabilities — (3) (3) — (6) (6) Interest rate contracts: Other current liabilities — (11) (11) — (11) (11) Other liabilities — (4) (4) — (6) (6) Commodity contracts: Other current liabilities (4) — (4) (2) — (2) Total liabilities $ (4) $ (52) $ (56) $ (2) $ (77) $ (79)
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 June 29, 2024 and December 30, 2023. (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) June 29, December 30, June 29, December 30, Interest rate contracts Current maturities of long-term debt $ 645 $ 655 $ 3 $ (8) Interest rate contracts Long-term debt $ 997 $ 1,666 $ (50) $ (43) (a) The fair value adjustment related to current maturities of long-term debt includes $3 million and $2 million from discontinued hedging relationships as of June 29, 2024 and December 30, 2023, respectively. The fair value adjustment related to long-term debt includes $(2) million and $3 million from discontinued hedging relationships as of June 29, 2024 and December 30, 2023, respectively.
Schedule of Offsetting Assets	As of June 29, 2024: Gross Amounts Not Offset in the Amounts Financial Cash Collateral Net Total asset derivatives $ 115 $ (87) $ 36 $ 64 Total liability derivatives $ (112) $ 87 $ 25 $ — As of December 30, 2023: Gross Amounts Not Offset in the Amounts Financial Cash Collateral Net Total asset derivatives $ 86 $ (84) $ — $ 2 Total liability derivatives $ (200) $ 84 $ 68 $ (48)
Schedule of Offsetting Liabilities	As of June 29, 2024: Gross Amounts Not Offset in the Amounts Financial Cash Collateral Net Total asset derivatives $ 115 $ (87) $ 36 $ 64 Total liability derivatives $ (112) $ 87 $ 25 $ — As of December 30, 2023: Gross Amounts Not Offset in the Amounts Financial Cash Collateral Net Total asset derivatives $ 86 $ (84) $ — $ 2 Total liability derivatives $ (200) $ 84 $ 68 $ (48)
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 June 29, 2024 and July 1, 2023 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 June 29, July 1, June 29, July 1, Foreign currency denominated long-term debt $ 14 $ (2) — $ — Cross-currency contracts 14 (35) 6 14 Interest expense Total $ 28 $ (37) $ 6 $ 14 Derivatives not designated as hedging instruments (millions) Location of gain Gain (loss) June 29, July 1, Foreign currency exchange contracts COGS $ 14 $ (7) Foreign currency exchange contracts Other income (expense), net 2 (6) Foreign currency exchange contracts SG&A 2 (3) Commodity contracts COGS (32) (28) Total $ (14) $ (44) The effect of derivative instruments on the Consolidated Statements of Income and Comprehensive Income for the year-to-date periods ended June 29, 2024 and July 1, 2023 was as follows: (millions) Gain (loss) Gain (loss) excluded from assessment of hedge effectiveness Location of gain (loss) in income of excluded component June 29, July 1, June 29, July 1, Foreign currency denominated long-term debt $ 51 $ (34) $ — $ — Cross-currency contracts 48 (60) 14 28 Interest expense Total $ 99 $ (94) $ 14 $ 28 (millions) Location of gain Gain (loss) June 29, July 1, Foreign currency exchange contracts COGS $ 13 $ (15) Foreign currency exchange contracts Other income (expense), net 6 (10) Foreign currency exchange contracts SGA 11 (5) Commodity contracts COGS (49) (63) Total $ (19) $ (93) The effect of fair value and cash flow hedge accounting on the Consolidated Income Statement for the quarters ended June 29, 2024 and July 1, 2023: June 29, 2024 July 1, 2023 (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 $ 83 $ 73 Gain (loss) on fair value hedging relationships: Interest contracts: Hedged items (4) 8 Derivatives designated as hedging instruments 6 (7) Gain (loss) on cash flow hedging relationships: Interest contracts: Amount of gain (loss) reclassified from AOCI into income (1) (2) The effect of fair value and cash flow hedge accounting on the Consolidated Income Statement for the year-to-date periods ended June 29, 2024 and July 1, 2023: June 29, 2024 July 1, 2023 (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 $ 166 $ 143 Gain (loss) on fair value hedging relationships: Interest contracts: Hedged items (3) (4) Derivatives designated as hedging instruments 7 6 Gain (loss) on cash flow hedging relationships: Interest contracts: Amount of gain (loss) reclassified from AOCI into income (3) (5)

REPORTABLE SEGMENTS (Tables)

REPORTABLE SEGMENTS (Tables)	6 Months Ended
	Jun. 29, 2024
Segment Reporting [Abstract]
Schedule of Reportable Segment Information	Reportable segment results were as follows: Quarter ended Year-to-date period ended (millions) June 29, July 1, June 29, July 1, Net sales North America $ 1,658 $ 1,645 $ 3,346 $ 3,331 Europe 639 668 1,238 1,272 Latin America 333 326 647 609 AMEA 564 712 1,164 1,482 Total Reportable Segments 3,194 3,351 6,395 6,694 Corporate (2) — (3) (1) Consolidated $ 3,192 $ 3,351 $ 6,392 $ 6,693 Operating profit North America $ 339 $ 280 $ 674 $ 549 Europe 111 104 139 196 Latin America 46 36 73 58 AMEA 60 67 135 141 Total Reportable Segments 556 487 1,021 944 Corporate (63) (70) (135) (181) Consolidated $ 493 $ 417 $ 886 $ 763
Revenue from External Customers by Products and Services	Supplemental product information is provided below for net sales to external customers: Quarter ended Year-to-date period ended (millions) June 29, July 1, June 29, July 1, Snacks $ 2,069 $ 2,052 $ 4,084 $ 4,074 Cereal 689 707 1,376 1,386 Frozen 262 265 552 557 Noodles and other 172 327 380 676 Consolidated $ 3,192 $ 3,351 $ 6,392 $ 6,693

SUPPLEMENTAL FINANCIAL STATEM_2

SUPPLEMENTAL FINANCIAL STATEMENT DATA (Tables)	6 Months Ended
	Jun. 29, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Financial Data Consolidated Balance Sheet [Table Text Block]	Consolidated Balance Sheet (millions) June 29, 2024 (unaudited) December 30, 2023 Trade receivables $ 1,381 $ 1,246 Allowance for credit losses (16) (16) Refundable income taxes 66 74 Other receivables 223 264 Accounts receivable, net $ 1,654 $ 1,568 Raw materials and supplies $ 310 $ 303 Finished goods and materials in process 875 940 Inventories $ 1,185 $ 1,243 Intangible assets not subject to amortization $ 1,677 $ 1,750 Intangible assets subject to amortization, net 127 180 Other intangibles, net $ 1,804 $ 1,930

ACCOUNTING POLICIES - Narrative

ACCOUNTING POLICIES - Narrative (Details) - USD ($) $ in Millions	Jun. 29, 2024	Dec. 30, 2023
Obligations placed in accounts payable tracking system	$ 835	$ 825
Minimum [Member]
Supplier finance program general payment timing, period	0 days
Maximum [Member]
Supplier finance program general payment timing, period	150 days

DISCONTINUED OPERATIONS - Sched

DISCONTINUED OPERATIONS - Schedule of Key Components of Income from Discontinued Operations (Details) - WK Kellogg Co - Discontinued Operations - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jul. 01, 2023	Jul. 01, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales - discontinued operations	$ 690	$ 1,401
Costs of goods sold - discontinued operations	451	936
Selling, general and administrative expense - discontinued operations	147	280
Operating profit - discontinued operations	92	185
Interest expense - discontinued operations	9	19
Other income (expense), net - discontinued operations	8	17
Income from discontinued operations before income taxes	91	183
Income taxes - discontinued operations	27	51
Net income from discontinued operations, net of tax	$ 64	$ 132

DISCONTINUED OPERATIONS - Sch_2

DISCONTINUED OPERATIONS - Schedule of Key Cash Flow Components (Details) - WK Kellogg Co - Discontinued Operations $ in Millions	3 Months Ended
	Jul. 01, 2023 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation and amortization - discontinued operations	$ 35
Additions to property - discontinued operations	76
Postretirement benefit plan expense (benefit) - discontinued operations	$ (14)

DISCONTINUED OPERATIONS - Trans

DISCONTINUED OPERATIONS - Transition Services and Supply Agreement Narrative (Details) - WK Kellogg Co - Spinoff - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 29, 2024	Jun. 29, 2024
Transition Services Agreement (TSA)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued Operation, Intra-Entity Amounts, Discontinued Operation after Disposal, Expense	$ 44	$ 91
Discontinued Operation, Period of Continuing Involvement after Disposal	2 years
Transition Services Agreement (TSA) | COGS
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued Operation, Intra-Entity Amounts, Discontinued Operation after Disposal, Expense	$ 29	62
Transition Services Agreement (TSA) | Selling, General and Administrative Expenses
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued Operation, Intra-Entity Amounts, Discontinued Operation after Disposal, Expense	$ 15	29
Supply Agreement
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued Operation, Period of Continuing Involvement after Disposal	3 years
Supply Agreement | Sales
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued Operation, Intra-Entity Amounts, Discontinued Operation after Disposal, Revenue	$ 11	26
Supply Agreement | COGS
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued Operation, Intra-Entity Amounts, Discontinued Operation after Disposal, Expense	$ 10	$ 23

SALE OF ACCOUNTS RECEIVABLE - N

SALE OF ACCOUNTS RECEIVABLE - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023	Dec. 30, 2023
Monetization Program | Other income (expense)
Transfer of Financial Assets Accounted for as Sales [Line Items]
Gain (Loss) on Sale of Accounts Receivable	$ (11)	$ (11)	$ (22)	$ (19)
Monetization Program | Maximum [Member]
Transfer of Financial Assets Accounted for as Sales [Line Items]
Transfers of Accounts Receivable Agreements	975		975
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	765		765		$ 697
Kellogg Foreign Subsidiaries Other Program
Transfer of Financial Assets Accounted for as Sales [Line Items]
Transfers of Accounts Receivable Agreements	$ 19		$ 19		$ 8

RESTRUCTURING - Narrative (Deta

RESTRUCTURING - Narrative (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 29, 2024 USD ($)	Jun. 29, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Program costs to date	$ 109	$ 109
Restructuring charges	$ 8	109
Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Cash implementation costs	1
Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Cash implementation costs	5
North America
Restructuring Cost and Reserve [Line Items]
Program costs to date	$ 40	40
Restructuring charges	9	40
Employee Related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Program costs to date	37	37
Restructuring charges	0	37
Asset related costs [Member]
Restructuring Cost and Reserve [Line Items]
Program costs to date	8	8
Restructuring charges	4	8
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		4
North America Frozen Supply Chain Network Reconfiguration
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	50	50
North America Frozen Supply Chain Network Reconfiguration | COGS
Restructuring Cost and Reserve [Line Items]
Restructuring charges	9	40
North America Frozen Supply Chain Network Reconfiguration | Employee Related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	10	10
North America Frozen Supply Chain Network Reconfiguration | Asset related costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	30	30
North America Frozen Supply Chain Network Reconfiguration | Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	10	10
European Cereal Supply Chain Network Reconfiguration
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	120	120
Restructuring charges		69
European Cereal Supply Chain Network Reconfiguration | Employee Related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	50	50
European Cereal Supply Chain Network Reconfiguration | Asset related costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	40	40
European Cereal Supply Chain Network Reconfiguration | Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	$ 30	$ 30

RESTRUCTURING - Schedule of Res

RESTRUCTURING - Schedule of Restructuring Charges Incurred (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 29, 2024 USD ($)	Jun. 29, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 8	$ 109
Restructuring and Related Cost, Cost Incurred to Date	109	109
North America
Restructuring Cost and Reserve [Line Items]
Restructuring charges	9	40
Restructuring and Related Cost, Cost Incurred to Date	40	40
Europe
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(1)	69
Restructuring and Related Cost, Cost Incurred to Date	69	69
Employee Related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	37
Restructuring and Related Cost, Cost Incurred to Date	37	37
Asset related costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	4	8
Restructuring and Related Cost, Cost Incurred to Date	8	8
Asset Impairment
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	60
Restructuring and Related Cost, Cost Incurred to Date	60	60
Other Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	4	4
Restructuring and Related Cost, Cost Incurred to Date	$ 4	$ 4

RESTRUCTURING - Restructuring P

RESTRUCTURING - Restructuring Program Reserves Narrative (Details) - USD ($) $ in Millions	Jun. 29, 2024	Dec. 30, 2023
Restructuring Cost and Reserve [Line Items]
Project reserve	$ 34	$ 0
Employee Related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Project reserve	34	$ 0
Europe | Employee Related Costs [Member] | European Cereal Supply Chain Network Reconfiguration
Restructuring Cost and Reserve [Line Items]
Project reserve	30
North America | Employee Related Costs [Member] | North America Frozen Supply Chain Network Reconfiguration
Restructuring Cost and Reserve [Line Items]
Project reserve	$ 4

RESTRUCTURING - Restructuring_2

RESTRUCTURING - Restructuring Program Reserves Rollforward (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 29, 2024	Jun. 29, 2024
Restructuring Cost and Reserve [Line Items]
Liability, beginning balance		$ 0
Restructuring charges	$ 8	109
Cash payments		(6)
Non-cash charges and other		(69)
Liability, ending balance	34	34
Employee Related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Liability, beginning balance		0
Restructuring charges	0	37
Cash payments		(2)
Non-cash charges and other		(1)
Liability, ending balance	34	34
Asset Impairment
Restructuring Cost and Reserve [Line Items]
Liability, beginning balance		0
Restructuring charges	0	60
Cash payments		0
Non-cash charges and other		(60)
Liability, ending balance	0	0
Asset related costs [Member]
Restructuring Cost and Reserve [Line Items]
Liability, beginning balance		0
Restructuring charges	4	8
Cash payments		0
Non-cash charges and other		(8)
Liability, ending balance	0	0
Other Costs[Member]
Restructuring Cost and Reserve [Line Items]
Liability, beginning balance		0
Restructuring charges		4
Cash payments		(4)
Non-cash charges and other		0
Liability, ending balance	$ 0	$ 0

DIVESTITURE - Narrative (Detail

DIVESTITURE - Narrative (Details) - RUSSIAN FEDERATION - Europe $ in Millions	1 Months Ended
	Jul. 29, 2023 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales as a percentage of consolidated net sales	1%
Net book value	$ 65
Loss on Russia divestiture - other income/(expense)	$ (113)

INVESTMENTS IN UNCONSOLIDATED_2

INVESTMENTS IN UNCONSOLIDATED ENTITIES - Narrative (Details) - USD ($) $ in Millions	Jun. 29, 2024	Dec. 30, 2023	Jul. 01, 2023
Schedule of Equity Method Investments [Line Items]
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	$ 2,598	$ 2,326
Investments in unconsolidated entities	$ 107	184
Tolaram Africa Foods Pte Ltd [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50%
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax			$ (113)
TAF Investment in Affiliated Food Manufacturer
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	49%
Investments in unconsolidated entities	$ 91	$ 173

EQUITY - Narrative (Details)

EQUITY - Narrative (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023	Dec. 31, 2022
Equity, Class of Treasury Stock [Line Items]
Anti-dilutive potential common shares excluded from reconciliation	4,000	4,000	6,000	4,000
Common stock repurchased		$ 60		$ 60
December 2022 Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount					$ 1,500
Common stock repurchased (in shares)		1,000		1,000
Common stock repurchased		$ 60		$ 60

EQUITY - Summary of Accumulated

EQUITY - Summary of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	Jun. 29, 2024	Dec. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Foreign currency translation adjustments	$ (2,598)	$ (2,326)
Net investment hedges gain (loss)	260	186
Cash flow hedges — net deferred gain (loss)	174	143
Postretirement and postemployment benefits:
Net experience gain (loss)	0	1
Prior service credit (cost)	(44)	(45)
Total accumulated other comprehensive income (loss)	$ (2,208)	$ (2,041)

NOTES PAYABLE AND LONG-TERM D_3

NOTES PAYABLE AND LONG-TERM DEBT - Narrative (Details) € in Millions, $ in Millions			3 Months Ended			6 Months Ended
	May 16, 2024 USD ($)	May 16, 2024 EUR (€)	Jun. 29, 2024 USD ($)	Jun. 29, 2024 EUR (€)	Jul. 01, 2023 USD ($)	Jun. 29, 2024 USD ($)	Jun. 29, 2024 EUR (€)	Jul. 01, 2023 USD ($)	May 17, 2024 EUR (€)	May 16, 2024 EUR (€)	Dec. 30, 2023 USD ($)
Debt Instrument [Line Items]
Notional amount of derivative			$ 6,664			$ 6,664					$ 7,338
Unrealized gain (loss) on cash flow hedges, pre-tax			17		$ 15	39		$ (3)
Notes Payable, Current			206			206					121
Repayments of Long-term Debt						652		221
Long-term debt			5,007			5,007					5,089
Interest Expense, Debt			83		$ 73	166		143
Current maturities of long-term debt			650			650					$ 663
Cash Flow Hedging | Interest expense
Debt Instrument [Line Items]
Unrealized gain (loss) on cash flow hedges, pre-tax			11	€ (5)		11	€ (5)	$ 71
5.75% 30-year U.S. Dollar Notes Due 2054
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 300
Debt Instrument, Interest Rate, Stated Percentage	5.75%									5.75%
Net proceeds after discount and underwriting commissions	$ 296
Notional amount of derivative	$ 300
Debt Instrument, Interest Rate, Effective Percentage	4%									4%
5.75% 30-year U.S. Dollar Notes Due 2054 | Cash Flow Hedging
Debt Instrument [Line Items]
Unrealized gain (loss) on cash flow hedges, pre-tax			$ 11			$ 161
U.S. commercial paper
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage			5.49%			5.49%					0%
Notes Payable, Current			$ 79			$ 79					$ 0
Bank borrowings
Debt Instrument [Line Items]
Notes Payable, Current			$ 127			$ 127					$ 121
ThreeSevenFivePercentTenYearEurNotesDueTwentyThirtyFour
Debt Instrument [Line Items]
Debt Instrument, Face Amount | €										€ 300
Debt Instrument, Interest Rate, Stated Percentage	3.75%									3.75%
Net proceeds after discount and underwriting commissions | €		€ 297
Notional amount of derivative | €										€ 250
Debt Instrument, Interest Rate, Effective Percentage	2.20%									2.20%
ThreeSevenFivePercentTenYearEurNotesDueTwentyThirtyFour | Cash Flow Hedging
Debt Instrument [Line Items]
Unrealized gain (loss) on cash flow hedges, pre-tax | €				€ (5)			€ 51
OnePercentEURNotesDueTwentyTwentyFour
Debt Instrument [Line Items]
Debt Instrument, Face Amount | €									€ 600
Debt Instrument, Interest Rate, Stated Percentage									1%

EMPLOYEE BENEFITS - Components

EMPLOYEE BENEFITS - Components of Plan Benefit Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Pension | Global Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 4	$ 4	$ 8	$ 8
Interest cost	35	36	70	72
Expected return on plan assets	(41)	(44)	(82)	(89)
Amortization of unrecognized prior service cost (gain)	2	1	4	2
Total plan benefit (income) expense	0	(3)	0	(7)
Other Nonpension Postretirement | U.S. and Canada
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	1	1	1
Interest cost	3	4	7	8
Expected return on plan assets	(9)	(9)	(18)	(18)
Amortization of unrecognized prior service cost (gain)	(2)	(1)	(3)	(2)
Recognized net (gain) loss	0	0	(13)	0
Total plan benefit (income) expense	$ (8)	$ (5)	$ (26)	$ (11)

EMPLOYEE BENEFITS - Component_2

EMPLOYEE BENEFITS - Components of Plan Benefit Expense Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023	Mar. 30, 2024
Other assets
Defined Benefit Plan Disclosure [Line Items]
Voluntary Employee Benefit Association (VEBA) Trust Surplus Withdrawal	$ 175		$ 175		$ 175
U.S. and Canada | Other Nonpension Postretirement
Defined Benefit Plan Disclosure [Line Items]
Recognized net (gain) loss	$ 0	$ 0	$ (13)	$ 0

EMPLOYEE BENEFITS - Contributio

EMPLOYEE BENEFITS - Contributions to Employee Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023	Dec. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Employer contributions to employee benefit plans	$ 10	$ 4	$ 32	$ 7	$ 35
Total current year projected employer contributions	64		64
Global Plans | Pension
Defined Benefit Plan Disclosure [Line Items]
Employer contributions to employee benefit plans	9	0	28	0	25
Total current year projected employer contributions	46		46
U.S. and Canada | Nonpension postretirement
Defined Benefit Plan Disclosure [Line Items]
Employer contributions to employee benefit plans	1	$ 4	4	$ 7	$ 10
Total current year projected employer contributions	$ 18		$ 18

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Income Tax Contingency [Line Items]
Effective income tax rate	22%	21%	22%	21%
Unrecognized tax benefits	$ 34		$ 34
Projected additions to unrecognized tax benefits	3		3
Unrecognized tax benefits that would affect the effective income tax rate	29		29
Income tax related interest accrued	5		5
Other current liabilities
Income Tax Contingency [Line Items]
Unrecognized tax benefits	$ 8		$ 8

DERIVATIVE INSTRUMENTS AND FA_2

DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Narrative (Details) € in Millions, $ in Millions	3 Months Ended			6 Months Ended
	Jun. 29, 2024 USD ($)	Jun. 29, 2024 EUR (€)	Jul. 01, 2023 USD ($)	Jun. 29, 2024 USD ($)	Jun. 29, 2024 EUR (€)	Jul. 01, 2023 USD ($)
Derivative [Line Items]
Net deferred losses reported in AOCI to be reclassified into income in the next twelve months				$ 1
Collateral posted	$ 49			49
Gain (loss) recognized in AOCI	28		$ (37)	99		$ (94)
Unrealized gain (loss) on cash flow hedges, pre-tax	17		15	39		(3)
Net Investment Hedging
Derivative [Line Items]
Gain (loss) recognized in AOCI	28		(37)	99		(94)
Cross currency interest rate contract | Net Investment Hedging
Derivative [Line Items]
Gain (loss) recognized in AOCI	(7)		17
Accounts Receivable, Net | Exchange-traded commodity
Derivative [Line Items]
Margin deposits	11			11
Interest expense | Cash Flow Hedging
Derivative [Line Items]
Unrealized gain (loss) on cash flow hedges, pre-tax	11	€ (5)		11	€ (5)	71
Interest expense | Cross currency interest rate contract | Net Investment Hedging
Derivative [Line Items]
Gain (loss) recognized in AOCI	$ 14		$ (35)	$ 48		$ (60)

DERIVATIVE INSTRUMENTS AND FA_3

DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Schedule of Total Notional Amounts of Derivative Instruments (Details) - USD ($) $ in Millions	Jun. 29, 2024	Dec. 30, 2023
Derivatives, Fair Value [Line Items]
Notional amount of derivative	$ 6,664	$ 7,338
Foreign currency exchange contracts
Derivatives, Fair Value [Line Items]
Notional amount of derivative	3,361	3,141
Cross currency interest rate contract
Derivatives, Fair Value [Line Items]
Notional amount of derivative	1,945	1,707
Interest rate contracts
Derivatives, Fair Value [Line Items]
Notional amount of derivative	1,050	2,289
Commodity contracts
Derivatives, Fair Value [Line Items]
Notional amount of derivative	$ 308	$ 201

DERIVATIVE INSTRUMENTS AND FA_4

DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions		Jun. 29, 2024	Dec. 30, 2023
Derivatives, Fair Value [Line Items]
Fair Value Of Related Hedge Portion Of Long Term Debt		$ 400	$ 1,100
Long-term debt total, carrying value		5,000	5,100
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		47	16
Liabilities		(56)	(121)
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		68	70
Liabilities		(56)	(79)
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		6	2
Liabilities		(4)	(2)
Level 2 | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		47	16
Liabilities		(56)	(121)
Level 2 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		62	68
Liabilities		(52)	(77)
Cross currency interest rate contract | Other current assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		16	12
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		16	12
Cross currency interest rate contract | Other assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		31	4
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		31	4
Cross currency interest rate contract | Other current liabilities | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(5)	(17)
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		(5)	(17)
Cross currency interest rate contract | Other liabilities | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(3)	(15)
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		(3)	(15)
Foreign currency exchange contracts | Other current assets | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		44	51
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		44	51
Foreign currency exchange contracts | Other assets | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		6	4
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		6	4
Foreign currency exchange contracts | Other current liabilities | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(34)	(54)
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		(34)	(54)
Foreign currency exchange contracts | Other liabilities | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(3)	(6)
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		(3)	(6)
Interest rate contracts | Other current assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		0	0
Interest rate contracts | Other current assets | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		9	9
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		0	0
Interest rate contracts | Other current assets | Level 2 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		9	9
Interest rate contracts | Other assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		0	0
Interest rate contracts | Other assets | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		3	4
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		0	0
Interest rate contracts | Other assets | Level 2 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		3	4
Interest rate contracts | Other current liabilities | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		0	(44)
Interest rate contracts | Other current liabilities | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(11)	(11)
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]	0	(44)
Interest rate contracts | Other current liabilities | Level 2 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(11)	(11)
Interest rate contracts | Other liabilities | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(48)	(45)
Interest rate contracts | Other liabilities | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(4)	(6)
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	[1]	(48)	(45)
Interest rate contracts | Other liabilities | Level 2 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(4)	(6)
Commodity contracts | Other current assets | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		6	2
Commodity contracts | Other current assets | Level 1 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets		6	2
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		(4)	(2)
Commodity contracts | Other current liabilities | Level 1 | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities		(4)	(2)
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		$ 1,000	$ 1,700
[1]The fair value of the related hedged portion of the Company's long-term debt, a Level 2 liability, was $0.4 billion as of June 29, 2024 and $1.1 billion as of December 30, 2023, respectively.

DERIVATIVE INSTRUMENTS AND FA_5

DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Schedule of Cumulative Basis Adjustments for Fair Value Hedges (Details) - USD ($) $ in Millions		Jun. 29, 2024	Dec. 30, 2023
Derivatives, Fair Value [Line Items]
Current maturities of long-term debt		$ 650	$ 663
Long-term debt		5,007	5,089
Carrying amount of hedged liability | Fair Value Hedges | Interest rate contracts | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Current maturities of long-term debt		645	655
Long-term debt		997	1,666
Cumulative fair value adjustment | Fair Value Hedges | Interest rate contracts | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Current maturities of long-term debt	[1]	3	(8)
Long-term debt	[1]	(50)	(43)
Hedging adjustment | Discontinued Hedges | Interest rate contracts
Derivatives, Fair Value [Line Items]
Current maturities of long-term debt		3	2
Long-term debt		$ (2)	$ 3
[1]The fair value adjustment related to current maturities of long-term debt includes $3 million and $2 million from discontinued hedging relationships as of June 29, 2024 and December 30, 2023, respectively. The fair value adjustment related to long-term debt includes $(2) million and $3 million from discontinued hedging relationships as of June 29, 2024 and December 30, 2023, respectively.

DERIVATIVE INSTRUMENTS AND FA_6

DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Schedule of Offsetting Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 29, 2024	Dec. 30, 2023
Offsetting [Abstract]
Asset derivatives, Amounts Presented in the Consolidated Balance Sheet	$ 115	$ 86
Asset derivatives, Financial Instruments, Gross Amounts Not Offset in the Consolidated Balance Sheet	(87)	(84)
Asset derivatives, Cash Collateral Posted, Gross Amounts Not Offset in the Consolidated Balance Sheet	36	0
Asset derivatives, Net Amount	64	2
Liability derivatives, Amounts Presented in the Consolidated Balance Sheet	(112)	(200)
Liability derivatives, Financial Instruments, Gross Amounts Not Offset in the Consolidated Balance Sheet	87	84
Liability derivatives, Cash Collateral Received, Gross Amounts Not Offset in the Consolidated Balance Sheet	25	68
Liability derivatives, net amount	$ 0	$ (48)

DERIVATIVE INSTRUMENTS AND FA_7

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		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in AOCI	$ 28	$ (37)	$ 99	$ (94)
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	(14)	(44)	(19)	(93)
Not Designated as Hedging Instrument | Foreign currency exchange contracts | COGS
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	14	(7)	13	(15)
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	2	(3)	11	(5)
Not Designated as Hedging Instrument | Foreign currency exchange contracts | Other income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	2	(6)	6	(10)
Not Designated as Hedging Instrument | Commodity contracts | COGS
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	(32)	(28)	(49)	(63)
Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in AOCI	28	(37)	99	(94)
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	6	14	14	28
Net Investment Hedging | Foreign currency denominated long-term debt
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in AOCI	14	(2)	51	(34)
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0	0
Net Investment Hedging | Cross currency interest rate contract
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in AOCI	(7)	17
Net Investment Hedging | Cross currency interest rate contract | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in AOCI	14	(35)	48	(60)
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	$ 6	$ 14	$ 14	$ 28

DERIVATIVE INSTRUMENTS AND FA_8

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		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Interest Expense, Debt	$ 83	$ 73	$ 166	$ 143
Interest rate contracts | Designated as Hedging Instrument | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from AOCI into income	(1)	(2)	(3)	(5)
Interest rate contracts | Interest expense | Designated as Hedging Instrument | Fair Value Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Hedged items	(4)	8	(3)	(4)
Derivatives designated as hedging instruments	$ 6	$ (7)	$ 7	$ 6

DERIVATIVE INSTRUMENTS AND FA_9

DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Fair value measurements on a nonrecurring basis (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Dec. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of property	$ 60	$ 0
Property, Plant and Equipment, Net	3,118		$ 3,212
North America | North America Frozen Supply Chain Network Reconfiguration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, Plant and Equipment, Net	62
North America | North America Frozen Supply Chain Network Reconfiguration | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, Plant, and Equipment, Fair Value Disclosure	41
North America | COGS | North America Frozen Supply Chain Network Reconfiguration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of property	21
Europe | European Cereal Supply Chain Network Reconfiguration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, Plant and Equipment, Net	99
Europe | European Cereal Supply Chain Network Reconfiguration | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, Plant, and Equipment, Fair Value Disclosure	60
Europe | COGS | European Cereal Supply Chain Network Reconfiguration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of property	$ 39

DERIVATIVE INSTRUMENTS AND F_10

DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Schedule of Other Fair Value Measurements (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Debt Securities, Available-for-sale [Line Items]
Sales of available for sale securities	$ 0	$ 10
Purchases of available for sale securities	0	9
Level 2 | Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Gain (loss) on sale of available-for-sale securities		(1)
Sales of available for sale securities		10
Purchases of available for sale securities		$ 9
Level 1 | Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Sales of available for sale securities	$ 13

DERIVATIVE INSTRUMENTS AND F_11

DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Marketable Securities (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Mar. 30, 2024	Jun. 29, 2024	Jul. 01, 2023
Debt Securities, Available-for-sale [Line Items]
Payments to Acquire Marketable Securities		$ 177	$ 0
Sales of available for sale securities		0	$ 10
Other assets
Debt Securities, Available-for-sale [Line Items]
Voluntary Employee Benefit Association (VEBA) Trust Surplus Withdrawal	$ 175	175
Corporate bonds | Level 1
Debt Securities, Available-for-sale [Line Items]
Sales of available for sale securities		13
Corporate bonds | Level 1 | Other assets
Debt Securities, Available-for-sale [Line Items]
Payments to Acquire Marketable Securities	$ 175
Marketable securities		$ 164

DERIVATIVE INSTRUMENTS AND F_12

DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Equity Investments (Details) - USD ($) $ in Millions	Jun. 29, 2024	Dec. 30, 2023
Other assets | Level 2
Derivatives, Fair Value [Line Items]
Equity investments	$ 40	$ 40

DERIVATIVE INSTRUMENTS AND F_13

DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Schedule of Fair Value of Long-term Debt (Details) - USD ($) $ in Billions	Jun. 29, 2024	Dec. 30, 2023
Derivative Instruments and Fair Value Measurements [Abstract]
Long-term debt, fair value	$ 4.8	$ 5
Long-term debt total, carrying value	$ 5	$ 5.1

REPORTABLE SEGMENTS - (Details)

REPORTABLE SEGMENTS - (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024 USD ($)	Jul. 01, 2023 USD ($)	Jun. 29, 2024 USD ($)	Jul. 01, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments			4
Net sales	$ 3,192	$ 3,351	$ 6,392	$ 6,693
Operating profit	493	417	886	763
Operating Segments
Segment Reporting Information [Line Items]
Net sales	3,194	3,351	6,395	6,694
Operating profit	556	487	1,021	944
Operating Segments | North America
Segment Reporting Information [Line Items]
Net sales	1,658	1,645	3,346	3,331
Operating profit	339	280	674	549
Operating Segments | Europe
Segment Reporting Information [Line Items]
Net sales	639	668	1,238	1,272
Operating profit	111	104	139	196
Operating Segments | Latin America
Segment Reporting Information [Line Items]
Net sales	333	326	647	609
Operating profit	46	36	73	58
Operating Segments | AMEA
Segment Reporting Information [Line Items]
Net sales	564	712	1,164	1,482
Operating profit	60	67	135	141
Corporate
Segment Reporting Information [Line Items]
Net sales	(2)	0	(3)	(1)
Operating profit	$ (63)	$ (70)	$ (135)	$ (181)

REPORTABLE SEGMENTS - Supplemen

REPORTABLE SEGMENTS - Supplemental Product Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Segment Reporting Information [Line Items]
Net sales	$ 3,192	$ 3,351	$ 6,392	$ 6,693
Snacks
Segment Reporting Information [Line Items]
Net sales	2,069	2,052	4,084	4,074
Cereal
Segment Reporting Information [Line Items]
Net sales	689	707	1,376	1,386
Frozen
Segment Reporting Information [Line Items]
Net sales	262	265	552	557
Noodles and other
Segment Reporting Information [Line Items]
Net sales	$ 172	$ 327	$ 380	$ 676

SUPPLEMENTAL FINANCIAL STATEM_3

SUPPLEMENTAL FINANCIAL STATEMENT DATA - Consolidated Balance Sheet (Unaudited) (Details) - USD ($) $ in Millions	Jun. 29, 2024	Dec. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Trade receivables	$ 1,381	$ 1,246
Allowance for credit losses	(16)	(16)
Refundable income taxes	66	74
Other receivables	223	264
Accounts receivable, net	1,654	1,568
Raw materials and supplies	310	303
Finished goods and materials in process	875	940
Inventories	1,185	1,243
Intangible assets not subject to amortization	1,677	1,750
Intangible assets subject to amortization, net	127	180
Other intangibles, net	$ 1,804	$ 1,930