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Kellogg Co – ‘10-K’ for 1/2/16 – ‘R19’

On:  Wednesday, 2/24/16, at 4:42pm ET   ·   For:  1/2/16   ·   Accession #:  1628280-16-11639   ·   File #:  1-04171

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/24/16  Kellogg Co                        10-K        1/02/16  146:25M                                    Workiva Inc Wde… FA01/FA

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.94M 
 2: EX-21.01    Subsidiaries List                                   HTML    103K 
 3: EX-23.01    Consent of Experts or Counsel                       HTML     42K 
 4: EX-24.01    Power of Attorney                                   HTML     67K 
 5: EX-31.1     Certification -- §302 - SOA'02                      HTML     46K 
 6: EX-31.2     Certification -- §302 - SOA'02                      HTML     46K 
 7: EX-32.1     Certification -- §906 - SOA'02                      HTML     42K 
 8: EX-32.2     Certification -- §906 - SOA'02                      HTML     42K 
15: R1          Document and Entity Information Document            HTML     70K 
16: R2          Consolidated Statement of Income Statement          HTML     84K 
17: R3          Comprehensive Income Statement                      HTML    160K 
18: R4          Consolidated Balance Sheet Statement                HTML    126K 
19: R5          Consolidated Balance Sheet (Parenthetical)          HTML     50K 
                Consolidated Balance Sheet                                       
20: R6          Statement of Shareholders' Equity                   HTML    105K 
21: R7          Consolidated Statement of Cash Flows Consolidated   HTML    144K 
                Statement of Cash Flows                                          
22: R8          Accounting Policies                                 HTML     94K 
23: R9          Goodwill and Other Intangible Assets                HTML    325K 
24: R10         Investment in Unconsolidated Entities Investment    HTML     59K 
                in Unconsolidated Entities                                       
25: R11         Restructuring and Cost Reduction Activities         HTML    150K 
26: R12         Equity                                              HTML    223K 
27: R13         Leases and Other Commitment                         HTML     65K 
28: R14         Debt                                                HTML    132K 
29: R15         Stock Compensation                                  HTML    173K 
30: R16         Pension Benefits                                    HTML    319K 
31: R17         Nonpension Postretirement and Postemployment        HTML    296K 
                Benefits                                                         
32: R18         Multipemployer Pension and Postretirement Plans     HTML    111K 
33: R19         Income Taxes                                        HTML    232K 
34: R20         Derivative Instruments and Fair Value Measurements  HTML    320K 
35: R21         Contingencies                                       HTML     50K 
36: R22         Venezuela                                           HTML     56K 
37: R23         Quarterly Financial Data                            HTML    159K 
38: R24         Reportable Segments                                 HTML    228K 
39: R25         Supplemental Financial Statement Data               HTML    123K 
40: R26         Accounting Policies (Policies)                      HTML    142K 
41: R27         Goodwill and Other Intangible Assets Goodwill and   HTML    327K 
                Other Intangible Assets (Tables)                                 
42: R28         Investment in Unconsolidated Entities Investment    HTML     55K 
                in Unconsolidated Entities (Tables)                              
43: R29         Restructuring and Cost Reduction Activities         HTML    141K 
                Restructuring and Cost Reduction Activities                      
                (Tables)                                                         
44: R30         Equity (Tables)                                     HTML    213K 
45: R31         Leases and Other Commitment Leases and Other        HTML     61K 
                Commitments (Tables)                                             
46: R32         Debt (Tables)                                       HTML    125K 
47: R33         Stock Compensation (Tables)                         HTML    160K 
48: R34         Pension Benefits (Tables)                           HTML    311K 
49: R35         Nonpension Postretirement and Postemployment        HTML    305K 
                Benefits (Tables)                                                
50: R36         Multipemployer Pension and Postretirement Plans     HTML    107K 
                (Tables)                                                         
51: R37         Income Taxes (Tables)                               HTML    223K 
52: R38         Derivative Instruments and Fair Value Measurements  HTML    345K 
                (Tables)                                                         
53: R39         Quarterly Financial Data (Tables)                   HTML    161K 
54: R40         Reportable Segments (Tables)                        HTML    228K 
55: R41         Supplemental Financial Statement Data (Tables)      HTML    126K 
56: R42         Accounting Policies Accounting Policies (Details)   HTML     83K 
57: R43         Goodwill and Other Intangible Assets Goodwill and   HTML     57K 
                Other Intangible Assets - Narrative (Details)                    
58: R44         Goodwill and Other Intangible Assets Goodwill and   HTML     61K 
                Other Intangible Assets - Schedule of Acquired                   
                Assets and Assumed Liabilities (Details)                         
59: R45         Goodwill and Other Intangible Assets Goodwill and   HTML     79K 
                Other Intangible Assets - Carrying Amount of                     
                Goodwill (Details)                                               
60: R46         Goodwill and Other Intangible Assets Goodwill and   HTML    129K 
                Other Intangible Assets - Intangible Assets                      
                Subject to Amortization (Details)                                
61: R47         Goodwill and Other Intangible Assets Goodwill and   HTML     75K 
                Other Intangible Assets - Intangible Assets Not                  
                Subject to Amortization (Details)                                
62: R48         Investment in Unconsolidated Entities Investment    HTML     55K 
                in Unconsolidated Entities - Narrative (Details)                 
63: R49         Investment in Unconsolidated Entities - Summarized  HTML     69K 
                Combined Financial Information (Details)                         
64: R50         Restructuring and Cost Reduction Activities         HTML    137K 
                Restructuring and Cost Reduction Activities                      
                Narrative (Details)                                              
65: R51         Restructuring and Cost Reduction Activities         HTML     78K 
                Schedule of Restructuring and Cost Reduction                     
                Activities (Details)                                             
66: R52         Restructuring and Cost Reduction Activities         HTML     65K 
                Restructuring and Cost Reduction Reserves                        
                Rollforward (Details)                                            
67: R53         Equity Narrative (Details)                          HTML     70K 
68: R54         Equity Schedule of Earnings Per Share (Details)     HTML     70K 
69: R55         Equity Equity - Changes in Comprehensive Income     HTML    137K 
                (Details)                                                        
70: R56         Equity Reclassifications Out of AOCI (Details)      HTML     84K 
71: R57         Equity Summary of Accumulated Other Comprehensive   HTML     60K 
                Income (Loss) (Details)                                          
72: R58         Equity Noncontrolling Interest (Details)            HTML     59K 
73: R59         Leases and Other Commitment Leases and Other        HTML     92K 
                Commitments(Details)                                             
74: R60         Debt Narrative (Details)                            HTML     82K 
75: R61         Debt Components of Notes Payable (Details)          HTML     52K 
76: R62         Debt Schedule of Long-term Debt (Details)           HTML    146K 
77: R63         Debt Long-term Debt Footnote A (Details)            HTML     50K 
78: R64         Debt Long-term Debt Footnote B (Details)            HTML     54K 
79: R65         Debt Long-term Debt Footnote C (Details)            HTML     66K 
80: R66         Debt Long-term Debt Footnote D (Details)            HTML     67K 
81: R67         Debt Long-term Debt Footnote E (Details)            HTML     50K 
82: R68         Debt Long-term Debt Footnote F (Details)            HTML     69K 
83: R69         Debt Long-term Debt Footnote G (Details)            HTML     61K 
84: R70         Debt Long-term Debt Footnote H (Details)            HTML     59K 
85: R71         Debt Long-term Debt Footnote I (Details)            HTML     56K 
86: R72         Debt Long-term Debt Footnote J (Details)            HTML     60K 
87: R73         Debt Long-term Debt Footnote K (Details)            HTML     53K 
88: R74         Debt Long-term Debt Footnote L (Details)            HTML     57K 
89: R75         Debt Long-term Debt Footnote M (Details)            HTML     50K 
90: R76         Debt Long-term Debt Footnote N (Details)            HTML     49K 
91: R77         Stock Compensation Equity based compensation        HTML     83K 
                programs (Details)                                               
92: R78         Stock Compensation Schedule of Compensation         HTML     50K 
                Expense for Equity Programs and Related Tax                      
                Benefits (Details)                                               
93: R79         Stock Compensation Cash used to settle equity       HTML     45K 
                instruments (Details)                                            
94: R80         Stock Compensation Fair Value Assumptions           HTML     54K 
                (Details)                                                        
95: R81         Stock Compensation Summary of Share-based           HTML     80K 
                Compensation (Details)                                           
96: R82         Stock Compensation Maximum Future Value of          HTML     74K 
                Performance Shares (Details)                                     
97: R83         Stock Compensation Summary of restricted stock      HTML     72K 
                activity (Details)                                               
98: R84         Pension Benefits Change in Projected Benefit        HTML    115K 
                Obligations, Plan Assets, and Funding Status                     
                (Details)                                                        
99: R85         Pension Benefits Accumulated Benefit Obligations    HTML     51K 
                (Details)                                                        
100: R86         Pension Benefits Components of Pension Expense      HTML     72K  
                (Details)                                                        
101: R87         Pension Benefits Assumptions (Details)              HTML     73K  
102: R88         Pension Benefits Plan Assets (Details)              HTML    174K  
103: R89         Pension Benefits Level 3 Gains and Losses           HTML     79K  
                (Details)                                                        
104: R90         Pension Benefits Benefit Payments (Details)         HTML     56K  
105: R91         Nonpension Postretirement and Postemployment        HTML    105K  
                Benefits Change in Projected Benefit Obligations,                
                Plan Assets, and Funded Status, Postretirement                   
                (Details)                                                        
106: R92         Nonpension Postretirement and Postemployment        HTML     69K  
                Benefits Components of Postretirement Expense                    
                (Details)                                                        
107: R93         Nonpension Postretirement and Postemployment        HTML     50K  
                Benefits Assumptions (Details)                                   
108: R94         Nonpension Postretirement and Postemployment        HTML     57K  
                Benefits Health Care Cost Trend Rates (Details)                  
109: R95         Nonpension Postretirement and Postemployment        HTML    136K  
                Benefits Plan Assets (Details)                                   
110: R96         Nonpension Postretirement and Postemployment        HTML     51K  
                Benefits VEBA Trusts (Details)                                   
111: R97         Nonpension Postretirement and Postemployment        HTML    123K  
                Benefits Change in Projected Benefit Obligations,                
                Plan Assets, and Funded Status, Postemployment                   
                (Details)                                                        
112: R98         Nonpension Postretirement and Postemployment        HTML     59K  
                Benefits Components of Postretirement Expense,                   
                Postemployment (Details)                                         
113: R99         Nonpension Postretirement and Postemployment        HTML     60K  
                Benefits Benefit Payments (Details)                              
114: R100        Multipemployer Pension and Postretirement Plans     HTML     49K  
                Narrative (Details)                                              
115: R101        Multipemployer Pension and Postretirement Plans     HTML    116K  
                Multiemployer Pension Plans Trusts Funds (Details)               
116: R102        Multipemployer Pension and Postretirement Plans     HTML     56K  
                Multiemployer Pension Plans Trusts Funds                         
                Contributions (Details)                                          
117: R103        Multipemployer Pension and Postretirement Plans     HTML     51K  
                Multiemployer Pension Plans Curtailments,                        
                Settlements and Termination Benefits (Details)                   
118: R104        Income Taxes (Narrative) (Details)                  HTML     83K  
119: R105        Income Taxes Income before income taxes and the     HTML     78K  
                provision for U.S. federal, state and foreign                    
                taxes on earnings (Details)                                      
120: R106        Income Taxes Difference Between U.S. Federal        HTML     73K  
                Statutory Tax Rate and the Company's Effective                   
                Income Tax Rate (Details)                                        
121: R107        Income Taxes Deferred tax assets and deferred tax   HTML    106K  
                liabilities (Details)                                            
122: R108        Income Taxes Change in Valuation Allowance Against  HTML     51K  
                Deferred Tax Assets (Details)                                    
123: R109        Income Taxes Unrecognized Tax Benefit               HTML     55K  
                Reconciliation (Details)                                         
124: R110        Derivative Instruments and Fair Value Measurements  HTML     57K  
                Narrative (Details)                                              
125: R111        Derivative Instruments and Fair Value Measurements  HTML     49K  
                Total Notional Amounts of the Company's Derivative               
                Instruments (Details)                                            
126: R112        Derivative Instruments and Fair Value Measurements  HTML    116K  
                Assets and Liabilities Measured at Fair Value on a               
                Recurring Basis (Details)                                        
127: R113        Derivative Instruments and Fair Value Measurements  HTML     67K  
                Schedule of Offsetting Assets and Liabilities                    
                (Details)                                                        
128: R114        Derivative Instruments and Fair Value Measurements  HTML     91K  
                The Effect of Derivative Instruments on the                      
                Consolidated Statement of Income (Details)                       
129: R115        Derivative Instruments and Fair Value Measurements  HTML     49K  
                Assets Measured at Fair Value (Details)                          
130: R116        Derivative Instruments and Fair Value Measurements  HTML     54K  
                Fair Value of Long-term Debt (Details)                           
131: R117        Venezuela (Details)                                 HTML     91K  
132: R118        Quarterly Financial Data Narrative (Details)        HTML     43K  
133: R119        Quarterly Financial Data Net sales and gross        HTML     47K  
                profit (Details)                                                 
134: R120        Quarterly Financial Data Net income and earnings    HTML     56K  
                per share (Details)                                              
135: R121        Quarterly Financial Data Dividends and stock        HTML     49K  
                prices (Details)                                                 
136: R122        Quarterly Financial Data Asset impairment and MTM   HTML     49K  
                gains and losses (Details)                                       
137: R123        Reportable Segments Narrative (Details)             HTML     49K  
138: R124        Reportable Segments Reportable Segment Information  HTML    123K  
                (Details)                                                        
139: R125        Reportable Segments Net sales to external           HTML     56K  
                customers and long-lived assets (Details)                        
140: R126        Reportable Segments Supplemental product            HTML     54K  
                information (Details)                                            
141: R127        Supplemental Financial Statement Data Consolidated  HTML     46K  
                Statement of Income (Details)                                    
142: R128        Supplemental Financial Statement Data Consolidated  HTML    129K  
                Balance Sheet (Details)                                          
143: R129        Supplemental Financial Statement Data Allowance     HTML     49K  
                for doubtful accounts (Details)                                  
145: XML         IDEA XML File -- Filing Summary                      XML    278K  
144: EXCEL       IDEA Workbook of Financial Reports                  XLSX    192K  
 9: EX-101.INS  XBRL Instance -- k-20160102                          XML   9.12M 
11: EX-101.CAL  XBRL Calculations -- k-20160102_cal                  XML    395K 
12: EX-101.DEF  XBRL Definitions -- k-20160102_def                   XML   1.62M 
13: EX-101.LAB  XBRL Labels -- k-20160102_lab                        XML   3.05M 
14: EX-101.PRE  XBRL Presentations -- k-20160102_pre                 XML   2.25M 
10: EX-101.SCH  XBRL Schema -- k-20160102                            XSD    346K 
146: ZIP         XBRL Zipped Folder -- 0001628280-16-011639-xbrl      Zip    565K

‘R19’   —   Income Taxes

This is an IDEA Financial Report.  [ Alternative Formats ]

 
v3.3.1.900
Income Taxes
 12 Months Ended
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]
INCOME TAXES
The components of income before income taxes and the provision for income taxes were as follows:
 
(millions)
 
2015
 
2014
 
2013
Income before income taxes
 
 
 
 
 
 
United States
 
$
551

 
$
502

 
$
2,102

Foreign
 
222

 
323

 
504

 
 
773

 
825

 
2,606

Income taxes
 
 
 
 
 
 
Currently payable
 
 
 
 
 
 
Federal
 
212

 
301

 
302

State
 
42

 
36

 
68

Foreign
 
74

 
103

 
105

 
 
328

 
440

 
475

Deferred
 
 
 
 
 
 
Federal
 
(136
)
 
(186
)
 
331

State
 
(14
)
 
(14
)
 
(2
)
Foreign
 
(19
)
 
(54
)
 
(12
)
 
 
(169
)
 
(254
)
 
317

Total income taxes
 
$
159

 
$
186

 
$
792


The difference between the U.S. federal statutory tax rate and the Company’s effective income tax rate was:
 
 
 
2015
 
2014
 
2013
U.S. statutory income tax rate
 
35.0

 
35.0
 %
 
35.0
 %
Foreign rates varying from 35%
 
(9.6
)
 
(7.9
)
 
(3.5
)
State income taxes, net of federal benefit
 
2.3

 
1.7

 
1.7

Cost (benefit) of remitted and unremitted foreign earnings
 
(4.4
)
 
(0.1
)
 
(0.4
)
U.S. deduction for qualified production activities
 
(2.3
)
 
(2.8
)
 
(0.9
)
Statutory rate changes, deferred tax impact
 
(0.8
)
 
(0.4
)
 
(0.5
)
VIE deconsolidation
 
(2.3
)
 
—

 
—

Venezuela remeasurement
 
5.0

 
—

 
—

Other
 
(2.3
)
 
(2.9
)
 
(1.0
)
Effective income tax rate
 
20.6
 %
 
22.6
 %
 
30.4
 %

As presented in the preceding table, the Company’s 2015 consolidated effective tax rate was 20.6%, as compared to 22.6% in 2014 and 30.4% in 2013.

The 2015 effective income tax rate benefited due to mark-to-market loss adjustments to the Company’s pension plans in primarily higher tax jurisdictions.  This results in a greater percentage of total income being generated in lower tax jurisdictions and permanent tax differences in the U.S. having a higher percentage impact on the tax rate.  In addition, the tax rate benefited from a reduction in tax related to current year remitted and unremitted earnings. The VIE deconsolidation, described in Note 5, included a $67 million non-cash non-taxable gain which positively impacted the tax rate.  During 2015, the Company recorded pre-tax charges of $112 million in the Latin America operating segment due to the devaluation of the Venezuelan currency which had no associated tax benefit.  As of January 2, 2016 substantially all foreign earnings were considered permanently invested.  Accumulated foreign earnings of approximately $2.0 billion, primarily in Europe, were considered indefinitely reinvested.  Due to the varying tax laws around the world and fluctuation in foreign exchange rates, it is not practicable to determine the unrecognized deferred tax liability on these earnings because the actual tax liability, if any, would be dependent on circumstances existing when a repatriation, sale, or liquidation occurs.
The 2014 effective income tax rate benefited due to mark-to-market loss adjustments to the Company’s pension plans in primarily higher tax jurisdictions. This results in a greater percentage of total income being generated in lower tax jurisdictions and permanent tax differences in the U.S. having a higher percentage impact on the tax rate. As of January 3, 2015, the Company recorded a deferred tax liability of $1 million related to $23 million of foreign earnings not considered indefinitely reinvested. Accumulated foreign earnings of approximately $2.2 billion, primarily in Europe, were considered indefinitely reinvested. Due to varying tax laws around the world
and fluctuations in foreign exchange rates, it is not practicable to determine the unrecognized deferred tax liability on these earnings because the actual tax liability, if any, would be dependent on circumstances existing when a repatriation, sale or liquidation occurs.
The 2013 effective income tax rate was negatively impacted by income generated from mark-to-market adjustments for the Company’s pension plans that was generally incurred in jurisdictions with tax rates higher than the effective income tax rate. As of December 28, 2013, the Company recorded a deferred tax liability of $2 million related to $24 million of foreign earnings not considered indefinitely reinvested. Accumulated foreign earnings of approximately $2.2 billion , primarily in Europe and Mexico, were considered indefinitely reinvested. Due to varying tax laws around the world and fluctuations in foreign exchange rates, it is not practicable to determine the unrecognized deferred tax liability on these earnings because the actual tax liability, if any, would be dependent on circumstances existing when a repatriation, sale or liquidation occurs.
Management monitors the Company’s ability to utilize certain future tax deductions, operating losses and tax credit carryforwards, prior to expiration. Changes resulting from management’s assessment will result in impacts to deferred tax assets and the corresponding impacts on the effective income tax rate. Valuation allowances were recorded to reduce deferred tax assets to an amount that will, more likely than not, be realized in the future. The total tax benefit of carryforwards at year-end 2015 and 2014 were $55 million and $54 million, respectively, with related valuation allowances at year-end 2015 and 2014 of $45 million and $39 million, respectively. Of the total carryforwards at year-end 2015, substantially all will expire after 2019.
The following table provides an analysis of the Company’s deferred tax assets and liabilities as of year-end 2015 and 2014. Deferred tax assets on employee benefits increased in 2015 due to lower asset returns and discount rate decreases associated with the Company’s pension and postretirement plans.
 
  
 
Deferred tax
assets
 
Deferred tax
liabilities
(millions)
 
2015
 
2014
 
2015
 
2014
U.S. state income taxes
 
$
13

 
$
10

 
$
43

 
$
49

Advertising and promotion-related
 
15

 
21

 
—

 
—

Wages and payroll taxes
 
21

 
36

 
—

 
—

Inventory valuation
 
31

 
—

 
—

 
—

Employee benefits
 
366

 
305

 
—

 
—

Operating loss and credit carryforwards
 
55

 
54

 
—

 
—

Hedging transactions
 
43

 
48

 
—

 
—

Depreciation and asset disposals
 
—

 
—

 
345

 
352

Trademarks and other intangibles
 
—

 
—

 
576

 
555

Deferred compensation
 
35

 
35

 
—

 
—

Stock options
 
42

 
38

 
—

 
—

Unremitted foreign earnings
 
—

 
—

 
—

 
1

Other
 
86

 
84

 
—

 
—

 
 
707

 
631

 
964

 
957

Less valuation allowance
 
(63
)
 
(51
)
 
—

 
—

Total deferred taxes
 
$
644

 
$
580

 
$
964

 
$
957

Net deferred tax asset (liability)
 
$
(320
)
 
$
(377
)
 
 
 
 
Classified in balance sheet as:
 
 
 
 
 
 
 
 
Other current assets
 
$
227

 
$
184

 
 
 
 
Other current liabilities
 
(9
)
 
(10
)
 
 
 

Other assets
 
147

 
175

 
 
 
 
Other liabilities
 
(685
)
 
(726
)
 
 
 
 
Net deferred tax asset (liability)
 
$
(320
)
 
$
(377
)
 
 
 
 

The change in valuation allowance reducing deferred tax assets was:

(millions)
 
2015
 
2014
 
2013
Balance at beginning of year
 
$
51

 
$
61

 
$
59

Additions charged to income tax expense
 
23

 
9

 
17

Reductions credited to income tax expense
 
(7
)
 
(3
)
 
(3
)
Other (a)
 
—

 
—

 
(10
)
Currency translation adjustments
 
(4
)
 
(16
)
 
(2
)
Balance at end of year
 
$
63

 
$
51

 
$
61

(a)
Reduction due to the disposition of a business resulting in deferred tax asset and valuation allowance being eliminated.

Uncertain tax positions
The Company is subject to federal income taxes in the U.S. as well as various state, local, and foreign jurisdictions. The Company’s 2015 provision for U.S. federal income taxes represents approximately 50% of the Company’s consolidated income tax provision. The Company was chosen to participate in the Internal Revenue Service (IRS) Compliance Assurance Program (CAP) beginning with the 2008 tax year. As a result, with limited exceptions, the Company is no longer subject to U.S. federal examinations by the IRS for years prior to 2015. The Company is under examination for income and non-income tax filings in various state and foreign jurisdictions.
As of January 2, 2016, the Company has classified $13 million of unrecognized tax benefits as a current liability. Management’s estimate of reasonably possible changes in unrecognized tax benefits during the next twelve months is comprised of the current liability balance expected to be settled within one year, offset by approximately $8 million of projected additions related primarily to ongoing intercompany transfer pricing activity. Management is currently unaware of any issues under review that could result in significant additional payments, accruals, or other material deviation in this estimate.
Following is a reconciliation of the Company’s total gross unrecognized tax benefits as of the years ended January 2, 2016, January 3, 2015 and December 28, 2013. For the 2015 year, approximately $48 million represents the amount that, if recognized, would affect the Company’s effective income tax rate in future periods.
 
(millions)
 
2015
 
2014
 
2013
Balance at beginning of year
 
$
78

 
$
79

 
$
80

Tax positions related to current year:
 
 
 
 
 
 
Additions
 
8

 
7

 
9

Tax positions related to prior years:
 
 
 
 
 
 
Additions
 
9

 
10

 
17

Reductions
 
(12
)
 
(12
)
 
(13
)
Settlements
 
(10
)
 
(2
)
 
(14
)
Lapses in statutes of limitation
 
—

 
(4
)
 
—

Balance at end of year
 
$
73

 
$
78

 
$
79


For the year ended January 2, 2016, the Company paid tax-related interest totaling $3 million reducing the accrual balance to $17 million at year end. For the year ended January 3, 2015, the Company recognized an increase of $3 million of tax-related interest resulting in an accrual balance of $20 million at January 3, 2015. For the year ended December 28, 2013, the Company recognized an increase of $4 million of tax-related interest and payments of $6 million, resulting in an accrual balance of approximately $17 million accrued at December 28, 2013.

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:2/24/16
For Period end:1/2/16
1/3/1510-K
12/28/1310-K
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