RESTRUCTURING |
6 Months Ended |
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Jul. 01, 2022 | |
| Restructuring and Related Activities [Abstract] | |
| RESTRUCTURING | RESTRUCTURING In February 2012, the Company announced a productivity and reinvestment program designed to strengthen our brands and reinvest our resources to drive long-term profitable growth. The program was expanded multiple times, with the last expansion occurring in April 2017. While we expect most of the remaining initiatives included in this program, which are primarily designed to further simplify and standardize our organization, to be completed by the end of 2023, certain initiatives may extend into 2024.
During the three and six months ended July 1, 2022, the Company incurred expenses of $19 million and $29 million, respectively, and during the three and six months ended July 2, 2021 incurred expenses of $22 million and $40 million, respectively, related to our productivity and reinvestment program. These expenses primarily included internal and external costs associated with the implementation of these initiatives and were recorded in the line item other operating charges in our consolidated statements of income. Refer to Note 16 for the impact these expenses had on our operating segments and Corporate. The Company has incurred total pretax expenses of $4,073 million related to this program since it commenced.
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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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