KELLANOVA, 10-Q filed on 5/1/2025
Quarterly Report
v3.25.1
Cover Page
 3 Months Ended
Mar. 29, 2025
shares
Entity Information [Line Items]  
Document Type 10-Q
Document Quarterly Report true
Entity Registrant Name Kellanova
Document Period End Date Mar. 29, 2025
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) 346,939,074
Amendment Flag false
Document Fiscal Period Focus Q1
Document Fiscal Year Focus 2025
Entity Central Index Key 0000055067
Current Fiscal Year End Date --01-03
Common Stock, $.25 par value per share [Member]  
Entity Information [Line Items]  
Title of 12(b) Security Common Stock, $.25 par value per share
Trading Symbol K
Security Exchange Name NYSE
0.500% Senior Notes Due 2029  
Entity Information [Line Items]  
Title of 12(b) Security 0.500% Senior Notes due 2029
Trading Symbol K 29
Security Exchange Name NYSE
3.750% Senior Notes Due 2034  
Entity Information [Line Items]  
Title of 12(b) Security 3.750% Senior Notes due 2034
Trading Symbol K 34
Security Exchange Name NYSE
v3.25.1
CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Current assets    
Cash and cash equivalents $ 330 $ 694
Accounts receivable, net 1,572 1,522
Inventories 1,223 1,165
Other current assets 349 373
Total current assets 3,474 3,754
Property, net 3,345 3,234
Operating lease right-of-use assets 606 601
Goodwill 5,020 5,003
Other intangibles, net 1,774 1,760
Investments in unconsolidated entities 103 99
Other assets 1,152 1,177
Total assets 15,474 15,628
Current liabilities    
Current maturities of long-term debt 4 632
Notes payable 586 113
Accounts payable 2,129 2,236
Current operating lease liabilities 141 134
Accrued advertising and promotion 572 611
Accrued salaries and wages 185 259
Other current liabilities 724 675
Total current liabilities 4,341 4,660
Long-term debt 5,027 4,998
Operating lease liabilities 462 465
Deferred income taxes 579 541
Pension liability 580 599
Other liabilities 460 483
Commitments and contingencies
Equity    
Common stock, $.25 par value 105 105
Capital in excess of par value 1,005 1,121
Retained earnings 9,497 9,358
Treasury stock, at cost (4,425) (4,533)
Accumulated other comprehensive income (loss) (2,267) (2,276)
Total Kellanova equity 3,915 3,775
Noncontrolling interests 110 107
Total equity 4,025 3,882
Total liabilities and equity $ 15,474 $ 15,628
v3.25.1
CONSOLIDATED BALANCE SHEET (Unaudited) (Parenthetical) - $ / shares
Mar. 29, 2025
Dec. 28, 2024
Statement of Financial Position [Abstract]    
Common stock, par value (in dollars per share) $ 0.25 $ 0.25
v3.25.1
CONSOLIDATED STATEMENT OF INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Income Statement [Abstract]    
Net sales $ 3,083 $ 3,200
Cost of goods sold 2,024 2,169
Selling, general and administrative expense 629 638
Operating profit 430 393
Interest expense 63 83
Other income (expense), net 11 43
Income before income taxes 378 353
Income taxes 73 82
Earnings (loss) from unconsolidated entities 3 0
Net income (loss) 308 271
Net income attributable to noncontrolling interests 4 4
Net income attributable to Kellanova $ 304 $ 267
Earnings per common share - basic    
Net earnings (loss) per common share - basic $ 0.88 $ 0.78
Earnings per common share - diluted    
Net earnings (loss) per common share - diluted $ 0.87 $ 0.78
Average shares outstanding:    
Basic (in shares) 346 341
Diluted (in shares) 349 344
Actual shares outstanding at period end (in shares) 347 342
v3.25.1
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Statement of Comprehensive Income [Abstract]    
Net income $ 308 $ 271
Other comprehensive income (loss), pre-tax:    
Foreign currency translation adjustments during period, pre-tax 81 (272)
Net investment hedges, pre-tax    
Net investment hedge gain (loss), pre-tax (97) 71
Cash flow hedges, pre-tax:    
Net deferred gain (loss) on cash flow hedges, pre-tax   22
Reclassification to net income, pre-tax (1) 2
Postretirement and postemployment benefits reclassification to net income, pre-tax:    
Prior service (credit) cost, pre-tax 1 1
Other comprehensive income (loss), pre-tax (16) (176)
Other comprehensive income (loss), tax (expense) benefit    
Foreign currency translation adjustments during period, tax (expense) benefit 0 0
Net investment hedges, tax (expense) benefit    
Net investment hedge gain (loss), tax (expense) benefit 24 (18)
Cash flow hedges, tax (expense) benefit:    
Net deferred gain (loss) on cash flow hedges, tax (expense) benefit   (6)
Reclassification to net income, tax (expense) benefit 0 0
Postretirement and postemployment benefits reclassification to net income, tax (expense) benefit:    
Prior service cost, tax (expense) benefit 0 0
Other comprehensive income (loss), tax (expense) benefit 24 (24)
Other comprehensive income (loss), after tax:    
Foreign currency translation adjustments during period, after-tax 81 (272)
Net investment hedges, after tax    
Net investment hedge gain (loss), after-tax (73) 53
Cash flow hedges, after tax    
Net deferred gain (loss) on cash flow hedges   16
Reclassification to net income, after tax (1) 2
Postretirement and postemployment benefits reclassification to net income, after-tax:    
Prior service cost, after-tax 1 1
Other comprehensive income (loss) 8 (200)
Comprehensive income 316 71
Net income attributable to noncontrolling interests 4 4
Other comprehensive income (loss) attributable to noncontrolling interests (1) (70)
Comprehensive income attributable to Kellanova $ 313 $ 137
v3.25.1
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Treasury Stock, Common, Shares         81      
Balance (in shares) at Dec. 30, 2023   421            
Balance at Dec. 30, 2023   $ 105 $ 1,101 $ 8,804 $ (4,794) $ (2,041) $ 3,175  
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 30, 2023 $ 3,369             $ 194
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 271     267     267 4
Dividends, Common Stock (191)     (191)     (191)  
Distributions to noncontrolling interest (2)           0 (2)
Other comprehensive income (loss) (200)         (130) (130) (70)
Stock compensation 21   21       21  
Stock options exercised, issuance of other stock awards and other 10   (59) (2) $ 71   10  
Stock options exercised and other (in shares)         (1)      
Balance (in shares) at Mar. 30, 2024   421            
Balance at Mar. 30, 2024   $ 105 1,063 8,878 $ (4,723) (2,171) 3,152  
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Mar. 30, 2024 $ 3,278             126
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Dividends declared - per share $ 0.56              
Treasury Stock, Common, Shares         80      
Treasury Stock, Common, Shares         76      
Balance (in shares) at Dec. 28, 2024   421            
Balance at Dec. 28, 2024 $ 3,775 $ 105 1,121 9,358 $ (4,533) (2,276) 3,775  
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 28, 2024 3,882             107
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 308     304     304 4
Dividends, Common Stock (197)     (197)     (197)  
Other comprehensive income (loss) 8         9 9 (1)
Stock compensation 22   22       22  
Stock options exercised, issuance of other stock awards and other 2   (138) 32 $ 108   2  
Stock options exercised and other (in shares)         (1)      
Balance (in shares) at Mar. 29, 2025   421            
Balance at Mar. 29, 2025 3,915 $ 105 $ 1,005 $ 9,497 $ (4,425) $ (2,267) $ 3,915  
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Mar. 29, 2025 $ 4,025             $ 110
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Dividends declared - per share $ 0.57              
Treasury Stock, Common, Shares         75      
v3.25.1
CONSOLIDATED STATEMENT OF EQUITY (Unaudited) (Parenthetical) - $ / shares
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Statement of Stockholders' Equity [Abstract]    
Dividends declared - per share $ 0.57 $ 0.56
v3.25.1
CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Operating activities    
Net income $ 308 $ 271
Adjustments to reconcile net income to operating cash flows:    
Depreciation and amortization 92 86
Impairment of property 0 60
Postretirement benefit plan expense (benefit) (6) (18)
Deferred income taxes 68 29
Stock compensation 22 21
Other (23) 36
Postretirement benefit plan distributions 0 175
Postretirement benefit plan contributions (12) (22)
Changes in operating assets and liabilities, net of acquisitions and divestitures:    
Trade receivables 16 (173)
Inventories (46) (4)
Accounts payable (106) (14)
All other current assets and liabilities (197) (83)
Net cash provided by (used in) operating activities 116 364
Investing activities    
Additions to properties (176) (155)
Purchase of marketable securities (72) (175)
Sales of marketable securities 84 0
Settlement of net investment hedges 0 (7)
Other 12 4
Net cash provided by (used in) investing activities (152) (333)
Financing activities    
Net issuances (reductions) of notes payable 474 115
Reductions of long-term debt (631) (2)
Net issuances of common stock 42 23
Cash dividends (197) (191)
Other (1) (3)
Net cash provided by (used in) financing activities (313) (58)
Effect of exchange rate changes on cash and cash equivalents (15) (5)
Increase (decrease) in cash and cash equivalents (364) (32)
Cash and cash equivalents at beginning of period 694 274
Cash and cash equivalents at end of period 330 242
Supplemental cash flow disclosures of non-cash investing activities    
Additions to properties included in accounts payable $ 116 $ 88
v3.25.1
ACCOUNTING POLICIES (Notes)
 3 Months Ended
Mar. 29, 2025
Accounting Policies [Abstract]  
Accounting Policies ACCOUNTING POLICIES
Basis of presentation
The unaudited interim financial information of Kellanova (the Company), included in this report reflects all adjustments, all of which are of a normal and recurring nature, that management believes are necessary for a fair statement of the results of operations, comprehensive income, financial position, equity and cash flows for the periods presented. This interim information should be read in conjunction with the financial statements and accompanying footnotes within the Company’s 2024 Annual Report on Form 10-K.
The balance sheet information at December 28, 2024 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 March 29, 2025 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.
Proposed Merger

On August 13, 2024, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Acquiror 10VB8, LLC, a Delaware limited liability company (“Acquiror”), Merger Sub 10VB8, LLC, a Delaware limited liability company and a wholly owned subsidiary of Acquiror (“Merger Sub”), and, solely for the limited purposes specified in the Merger Agreement, Mars, Incorporated, a Delaware corporation (“Mars”).

The Merger Agreement provides that, subject to the terms and conditions set forth therein, at the effective time of the Merger (the “Effective Time”), (1) Merger Sub will be merged with and into the Company (the “Merger”), with the Company continuing as the surviving corporation and a wholly owned subsidiary of Acquiror, and (2) each share of public common stock, par value $0.25 per share, of the Company issued and outstanding immediately prior to Effective Time (other than shares owned by (i) the Company or its subsidiaries or Mars or its subsidiaries (including Acquiror and its subsidiaries) or (ii) shareowners who have properly exercised and perfected appraisal rights under Delaware law) will be automatically cancelled and converted into the right to receive $83.50 per share in cash, without interest. Completion of the Merger is subject to customary closing conditions, including the receipt of required regulatory approvals.

The Merger Agreement contains certain termination rights, including the right of either the Company or Acquiror to terminate the Merger Agreement if the Merger is not consummated by August 13, 2025 (subject to two extensions for up to an additional six months each if all of the conditions to the closing, other than the conditions related to obtaining regulatory approvals, have been satisfied). The Merger Agreement also provides for certain termination rights for each of the Company and Acquiror, and provides that, upon termination of the Merger Agreement under certain specified circumstances related to the failure to obtain regulatory approvals, Acquiror would be required to pay a termination fee of $1.25 billion to the Company, and under other specified circumstances, including if the Company terminates the Merger Agreement to enter into a superior proposal or Acquiror terminates the Merger Agreement due to a change of recommendation by the Board, the Company would be required to pay to Acquiror a termination fee of $800 million.

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 March 29, 2025, $758 million of the Company’s outstanding payment obligations had been placed in the accounts payable tracking system. As of December 28, 2024, $855 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 will adopt for year-end 2025.
Disaggregation of Income Statement Expenses: In November 2024, the FASB issued ASU 2024-03 to expand the disclosure requirements to include additional disaggregated information about income statement expenses that are commonly presented within existing expense captions. It will take effect for public entities fiscal years beginning after December 15, 2026, 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.
v3.25.1
SEPARATION TRANSACTION (Notes)
 3 Months Ended
Mar. 29, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued operations SEPARATION TRANSACTION
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 ("WKKC").
In connection with the separation, 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 WKKC agreed to provide certain services to each other, on an interim, transitional basis from and after the separation and the distribution for 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. Kellanova recorded approximately $14 million of cost reimbursements related to the TSA for the quarter ended March 29, 2025, of which $6 million  is recognized in cost of goods sold (COGS) and $8 million in selling, general, and administrative expense (SGA) in the Consolidated Statement of Income. For the quarter ended March 30, 2024, cost reimbursements related to the TSA were $47 million, of which $33 million is recognized in COGS and $14 million in SGA 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 ended March 29, 2025, the Company recognized net sales to WKKC and related cost of sales of $8 million and $7 million, respectively. Net sales to WKKC of $15 million and related cost of sales of $13 million were recognized during the quarter ended March 30, 2024.
v3.25.1
SALE OF ACCOUNTS RECEIVABLE (Notes)
 3 Months Ended
Mar. 29, 2025
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 March 29, 2025 and December 28, 2024 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 $729 million and $653 million remained outstanding under these arrangements as of March 29, 2025 and December 28, 2024, 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 $10 million and $11 million for the quarters ended March 29, 2025 and March 30, 2024. The recorded loss is included in Other income and expense (OIE).
Other programs
Additionally, from time to time certain of the Company's foreign subsidiaries will transfer, without recourse, accounts receivable invoices of certain customers to financial institutions. These transactions are accounted for as sales of the receivables resulting in the receivables being de-recognized from the Consolidated Balance Sheet. Accounts receivable sold of $5 million and $15 million remained outstanding under these programs as of March 29, 2025 and December 28, 2024, 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 the sale of these receivables is included in OIE and is not material.
v3.25.1
RESTRUCTURING (Notes)
 3 Months Ended
Mar. 29, 2025
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 substantially complete as of the quarter ended March 29, 2025. The overall project is expected to result in cumulative pretax charges of approximately $70 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 $50 million. Charges incurred related to this restructuring program were less than $1 million during the quarter ended March 29, 2025 and $31 million during the quarter ended March 30, 2024. 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 $6 million and $70 million during the quarters ended March 29, 2025 and March 30, 2024, respectively. 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 quarters ended March 29, 2025 and March 30, 2024.
 Quarter endedProgram costs to date
(millions)March 29, 2025March 30, 2024March 29, 2025
Employee related costs$3 $37 $48 
Asset related costs— 4 23 
Asset impairment— 60 60 
Other costs3 — 18 
Total$6 $101 $149 
 Quarter endedProgram costs to date
(millions)March 29, 2025March 30, 2024March 29, 2025
North America$— $31 $65 
Europe6 70 84 
Total$6 101 $149 
All other restructuring projects were immaterial within the periods presented.
At March 29, 2025, total project reserves were $42 million for the European reorganization and immaterial for the North American reorganization. The reserves are 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 reorganization described above.
Employee
Related
Costs 		Asset
Impairment		Asset
Related
Costs		Other
Costs		Total
Liability as of December 30, 2024$37 $— $— $— $37 
2025 restructuring charges3 — — 3 6 
Cash payments— — — (3)(3)
Non-cash charges and other2 — — — 2 
Liability as of March 29, 2025$42 $— $— $— $42 
v3.25.1
EQUITY (Notes)
 3 Months Ended
Mar. 29, 2025
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 no anti-dilutive potential common shares excluded from the calculation for the quarter ended March 29, 2025 and approximately 6 million excluded for the quarter ended March 30, 2024, respectively. Please refer to the Consolidated Statement of Income for basic and diluted earnings per share for the quarters ended March 29, 2025 and March 30, 2024.
Share repurchases
In December 2022, the Board of Directors approved an authorization to repurchase up to $1.5 billion of our common stock through December 2025. During the quarters ended March 29, 2025 and March 30, 2024, the Company did not repurchase any shares of common stock.
Comprehensive income
Comprehensive income includes net income and all other changes in equity during a period except those resulting from investments by or distributions to shareholders. Other comprehensive income consists of foreign currency translation adjustments, fair value adjustments associated with cash flow hedges, which are recorded in interest expense within the statement of income, upon reclassification from Accumulated Other Comprehensive Income (AOCI), adjustments for net experience gains (losses), prior service credit (costs) related to employee benefit plans and adjustments for unrealized (gains) losses on available-for-sale securities, which are recorded in other income (expense) within the statement of income, upon reclassification from AOCI. The related tax effects of these items are recorded in income tax expense within the Consolidated Statement of Income, upon reclassification from AOCI.
Accumulated other comprehensive income (loss), net of tax, as of March 29, 2025 and December 28, 2024 consisted of the following:
(millions)March 29,
2025		December 28,
2024
Foreign currency translation adjustments$(2,639)$(2,721)
Net investment hedges gain (loss)245 318 
Cash flow hedges — net deferred gain (loss)173 174 
Postretirement and postemployment benefits:
Net experience gain (loss)(4)(4)
Prior service credit (cost)(42)(43)
Total accumulated other comprehensive income (loss)$(2,267)$(2,276)
v3.25.1
NOTES PAYABLE AND LONG-TERM DEBT (notes)
 3 Months Ended
Mar. 29, 2025
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 March 29, 2025 and December 28, 2024:
 March 29, 2025December 28, 2024
(millions)Principal
amount		Effective
interest rate 		Principal
amount		Effective
interest rate
U.S. commercial paper$459 4.62 %$— — %
Bank borrowings127 113 
Total$586 $113 
In March 2025, the Company repaid its €600 million ten-year 1.250% Euro Notes due 2025 with U.S. commercial paper and cash flow from operations.
v3.25.1
EMPLOYEE BENEFITS (Notes)
 3 Months Ended
Mar. 29, 2025
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 2024 Annual Report on Form 10-K. Components of Company benefit plan (income) expense for the periods presented are included in the tables below. Excluding the service cost component, these amounts are included within Other income (expense) in the Consolidated Statement of Income.
Pension
 Quarter ended
(millions)March 29, 2025March 30, 2024
Service cost$4 $4 
Interest cost35 35 
Expected return on plan assets(40)(41)
Amortization of unrecognized prior service cost2 2 
Total pension (income) expense$1 $— 
Other nonpension postretirement
 Quarter ended
(millions)March 29, 2025March 30, 2024
Service cost$— $1 
Interest cost3 4 
Expected return on plan assets(9)(9)
Amortization of unrecognized prior service cost(1)(1)
Recognized net (gain) loss— (13)
Total postretirement benefit (income) expense$(7)$(18)
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 the Company's investment in marketable securities is included in Other current assets and Other assets dependent on the expected holding period on the Consolidated Balance Sheet as of March 29, 2025. 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 quarter ended March 30, 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 ended March 29, 2025 and March 30, 2024 were not material.
Exclusive of the negative contribution discussed above, Company contributions to employee benefit plans are summarized as follows:
(millions)PensionNonpension postretirementTotal
Quarter ended:
March 29, 2025$12 $— $12 
March 30, 2024$19 $3 $22 
Full year:
Fiscal year 2025 (projected)$183 $4 $187 
Fiscal year 2024 (actual)$51 $3 $54 
Plan funding strategies may be modified in response to management's evaluation of tax deductibility, market conditions, and competing investment alternatives.
v3.25.1
INCOME TAXES (Notes)
 3 Months Ended
Mar. 29, 2025
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
The consolidated effective tax rate for the quarters ended March 29, 2025 and March 30, 2024 was 19% and 23%, respectively. The decrease in the consolidated effective tax rate from the prior year quarter is due primarily to higher windfall benefit related to vesting of stock-based compensation versus the prior year quarter.
The Company’s total gross unrecognized tax benefits as of March 29, 2025 was $33 million. Of this balance, $29 million represents the amount that, if recognized, would affect the Company’s effective income tax rate in future periods.
v3.25.1
DERIVATIVE INSTRUMETNS AND FAIR VALUE MEASUREMENTS (Notes)
 3 Months Ended
Mar. 29, 2025
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 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 March 29, 2025 and December 28, 2024 were as follows:
(millions)March 29,
2025		December 28,
2024
Foreign currency exchange contracts$3,569 $3,243 
Cross-currency contracts2,030 2,030 
Interest rate contracts1,050 1,050 
Commodity contracts196 285 
Total$6,845 $6,608 
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 March 29, 2025 and December 28, 2024, 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. 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 March 29, 2025 or December 28, 2024.
The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheet on a recurring basis as of March 29, 2025 and December 28, 2024:
Derivatives designated as hedging instruments
 March 29, 2025December 28, 2024
(millions)Level 1Level 2TotalLevel 1Level 2Total
Assets:
Cross-currency contracts:
Other current assets$— $14 $14 $— $47 $47 
Other assets— 15 15 — 51 51 
Total assets$— $29 $29 $— $98 $98 
Liabilities:
Cross-currency contracts:
Other current liabilities$— $(13)$(13)$— $(2)$(2)
   Other liabilities— (2)(2)— (9)(9)
Interest rate contracts(a):
Other current liabilities— — — — — — 
Other liabilities— (32)(32)— (41)(41)
Total liabilities$— $(47)$(47)$— $(52)$(52)
(a) The fair value of the related hedged portion of the Company's long-term debt, a Level 2 liability, was $0.4 billion as of March 29, 2025 and December 28, 2024.
Derivatives not designated as hedging instruments
 March 29, 2025December 28, 2024
(millions)Level 1Level 2TotalLevel 1Level 2Total
Assets:
Foreign currency exchange contracts:
Other current assets$— $54 $54 $— $65 $65 
Other assets— 4 4 — 2 2 
Interest rate contracts:
Other current assets— 6 6 — 6 6 
Other assets— — — — 1 1 
Commodity contracts:
Other current assets7 — 7 4 — 4 
Total assets$7 $64 $71 $4 $74 $78 
Liabilities:
Foreign currency exchange contracts:
Other current liabilities$— $(24)$(24)$— $(33)$(33)
Other liabilities— (3)(3)— (1)(1)
Interest rate contracts:
Other current liabilities— (8)(8)— (8)(8)
Other liabilities— — — — (1)(1)
Commodity contracts:
Other current liabilities(1)— (1)(7)— (7)
Total liabilities$(1)$(35)$(36)$(7)$(43)$(50)
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 $0.6 billion and $1.2 billion as of March 29, 2025 and December 28, 2024, respectively.
The following amounts were recorded on the Consolidated Balance Sheet related to cumulative basis adjustments for existing fair value hedges as of March 29, 2025 and December 28, 2024.
(millions)Line Item in the Consolidated Balance Sheet in which the hedged item is includedCarrying amount of the hedged liabilitiesCumulative amount of fair value hedging adjustment included in the carrying amount of the hedged liabilities (a)
March 29,
2025		December 28,
2024		March 29,
2025		December 28,
2024
Interest rate contractsCurrent maturities of long-term debt$— $627 $— $1 
Interest rate contractsLong-term debt$1,014 $1,005 $(34)$(43)
(a) The fair value adjustment related to current maturities of long-term debt includes $1 million from discontinued hedging relationships as of December 28, 2024. The fair value adjustment related to long-term debt includes $(1) million from discontinued hedging relationships as of March 29, 2025 and December 28, 2024, 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 March 29, 2025 and December 28, 2024 would be adjusted as detailed in the following table:
    
As of March 29, 2025:
  
Gross Amounts Not Offset in the
Consolidated Balance Sheet
  
  
Amounts
Presented in the
Consolidated
Balance Sheet		Financial
Instruments		Cash Collateral
Received/
Posted		Net
Amount
Total asset derivatives$100 $(61)$39 $78 
Total liability derivatives$(83)$61 $22 $— 

 
As of December 28, 2024:
  
Gross Amounts Not Offset in the
Consolidated Balance Sheet
  
  
Amounts
Presented in the
Consolidated
Balance Sheet		Financial
Instruments		Cash Collateral
Received/
Posted		Net
Amount
Total asset derivatives$176 $(88)$61 $149 
Total liability derivatives$(102)$88 $14 $— 

During the quarter ended March 30, 2024, the Company settled certain cross currency swaps resulting in a net realized loss of approximately $7 million. These cross currency swaps were accounted for as net investment hedges and the related net gain (loss) was recorded in accumulated other comprehensive income.
The effect of derivative instruments on the Consolidated Statements of Income and Comprehensive Income for the quarters ended March 29, 2025 and March 30, 2024 was as follows:
Derivatives and non-derivatives in net investment hedging relationships
(millions)Gain (loss)
recognized in
AOCI		Gain (loss) excluded from assessment of hedge effectivenessLocation of gain (loss) in income of excluded component
 March 29,
2025		March 30,
2024		March 29,
2025		March 30,
2024
Foreign currency denominated long-term debt$(24)$37 $— $— 
Cross-currency contracts(73)34 11 8 Interest expense
Total$(97)$71 $11 $8 
Derivatives not designated as hedging instruments
(millions)Location of gain
(loss) recognized
in income		Gain (loss)
recognized in
income
  March 29,
2025		March 30,
2024
Foreign currency exchange contractsCOGS$(17)$(1)
Foreign currency exchange contractsOther income (expense), net6 4 
Foreign currency exchange contractsSG&A13 9 
Interest rate contractsInterest expense1 — 
Commodity contractsCOGS14 (17)
Total$17 $(5)
The effect of fair value and cash flow hedge accounting on the Consolidated Income Statement for the quarters ended March 29, 2025 and March 30, 2024:
March 29, 2025March 30, 2024
(millions)Interest ExpenseInterest 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$63 $83 
Gain (loss) on fair value hedging relationships:
Interest contracts:
Hedged items(8)1 
Derivatives designated as hedging instruments8 1 
Gain (loss) on cash flow hedging relationships:
Interest contracts:
Amount of gain (loss) reclassified from AOCI into income1 (2)
During the next 12 months, the Company expects $8 million of net deferred gains reported in AOCI at March 29, 2025 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 March 29, 2025, 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 reconfiguration of the European cereal supply chain network. The North America frozen supply chain actions have since been fully implemented, while the European cereal supply chain program remains in process. As part of these programs, the Company is 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 quarter ended March 30, 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 approximately $41 million resulting in an impairment charge of $21 million recorded in COGS.
During the quarter ended March 30, 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.
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. The marketable securities portfolio is designated to be used to pay for active union employee benefits.
During the quarter ended March 29, 2025, the Company recorded gross sales of marketable securities of approximately $84 million and gross purchases of marketable securities of approximately $72 million. The portfolio's fair value was approximately $129 million as of March 29, 2025. The classification of these marketable securities as
current or noncurrent depends on our intended holding period and the securities are measured at Level 1 quoted market prices.
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 March 29, 2025 and December 28, 2024. Additionally, these investments were recorded within Other 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 $5.0 billion as of March 29, 2025. The fair value and carrying value of the Company's long-term debt was $4.9 billion and $5.0 billion, respectively, as of December 28, 2024.
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 March 29, 2025, 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 March 29, 2025, the Company posted $57 million related to reciprocal collateralization agreements. As of March 29, 2025, the Company posted $4 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.
v3.25.1
REPORTABLE SEGMENTS (Notes)
 3 Months Ended
Mar. 29, 2025
Segment Reporting [Abstract]  
Reportable Segments REPORTABLE SEGMENTS
Kellanova is the world's second largest producer of crackers and a leading producer of cereal, savory snacks, and frozen foods. 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, France, 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. Each reportable segment derives its revenues primarily from the production and distribution of a mix of food products including snacks, cereal, frozen foods, noodles and other foods. Corporate includes corporate administration and initiatives as well as share-based compensation.
The Chairman and Chief Executive Officer is the Chief Operating Decision Maker (CODM) of the Company. The CODM uses operating profit as the reportable segment profitability measure to assess performance and allocate
resources. This measure is utilized during our budgeting and forecasting process to assess profitability and enable decision making regarding strategic initiatives and capital investments across all reportable segments. Reportable segment operating profit is consistent with the presentation of operating profit in the Consolidated Statement of Income. The accounting policies of each reportable segment are consistent with those described in the summary of significant accounting policies in Note 1 included in the Company's 2024 Annual Report on Form 10-K. Inter-segment sales are not included in the segment profitability measure used by the CODM to assess performance of the reportable segments.
Reportable segment results including details of the significant expense categories provided to the CODM for the quarters ended March 29, 2025 and March 30, 2024 were as follows:
Quarter ended March 29, 2025
Reportable segments
(millions)North AmericaEuropeLatin AmericaAMEACorporateConsolidated
Net sales$1,619 $579 $266 $620 $(1)$3,083 
Cost of goods sold1,006 380 185 452 1 2,024 
Selling, general, and administrative expense308 109 62 94 56 629 
Operating profit$305 $90 $19 $74 $(58)$430 

Quarter ended March 30, 2024
Reportable segments
(millions)North AmericaEuropeLatin AmericaAMEACorporateConsolidated
Net sales$1,688 $599 $314 $600 $(1)$3,200 
Cost of goods sold1,055 460 217 427 10 2,169 
Selling, general, and administrative expense298 111 70 98 61 638 
Operating profit$335 $28 $27 $75 $(72)$393 
Certain items such as interest expense and income taxes, while not included in the measure of reportable segment operating results, are regularly reviewed by the chief operating decision maker (CODM) for the Company's internationally based reportable segments as shown below.
 Quarter ended
(millions)March 29,
2025		March 30,
2024
Depreciation and amortization
North America (a)$41 $63 
Europe (a)22 60 
Latin America13 8 
AMEA14 13 
Total Reportable Segments90 144 
Corporate2 2 
Consolidated$92 $146 
Interest expense
North America$— $2 
Europe9 17 
Latin America1 1 
AMEA5 6 
Corporate48 57 
Consolidated$63 $83 
Income taxes
Europe$11 $4 
Latin America5 7 
AMEA13 14 
Corporate & North America44 57 
Consolidated$73 $82 
(a) Quarter ended March 30, 2024, includes asset impairment charges as discussed in Note 10.
Assets are reviewed by the CODM on a consolidated basis and therefore are not presented by reportable segment. The CODM does review additions to property by reportable segment.
Quarter ended
(millions)March 29, 2025March 30, 2024
Additions to property
North America$51 $68 
Europe51 41 
Latin America33 24 
AMEA36 19 
Corporate5 3 
Consolidated$176 $155 
Supplemental product information is provided below for net sales to external customers:
Quarter ended
(millions)March 29,
2025		March 30,
2024
Snacks$1,897 $2,015 
Cereal645 687 
Frozen290 290 
Noodles and other251 208 
Consolidated$3,083 $3,200 
v3.25.1
SUPPLEMENTAL FINANCIAL STATEMENT DATA (Notes)
 3 Months Ended
Mar. 29, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplemental Balance Sheet Disclosures SUPPLEMENTAL FINANCIAL STATEMENT DATA
Consolidated Balance Sheet
(millions)March 29, 2025December 28, 2024
Trade receivables$1,269 $1,268 
Allowance for credit losses(14)(17)
Refundable income taxes63 58 
Other receivables254 213 
Accounts receivable, net$1,572 $1,522 
Raw materials and supplies$311 $303 
Finished goods and materials in process912 862 
Inventories$1,223 $1,165 
Intangible assets not subject to amortization$1,658 $1,651 
Intangible assets subject to amortization, net116 109 
Other intangibles, net$1,774 $1,760 
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Pay vs Performance Disclosure    
Net income attributable to Kellanova $ 304 $ 267
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Mar. 29, 2025
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
v3.25.1
ACCOUNTING POLICIES (Policies)
 3 Months Ended
Mar. 29, 2025
Accounting Policies [Abstract]  
Basis of presentation
Basis of presentation
The unaudited interim financial information of Kellanova (the Company), included in this report reflects all adjustments, all of which are of a normal and recurring nature, that management believes are necessary for a fair statement of the results of operations, comprehensive income, financial position, equity and cash flows for the periods presented. This interim information should be read in conjunction with the financial statements and accompanying footnotes within the Company’s 2024 Annual Report on Form 10-K.
The balance sheet information at December 28, 2024 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 March 29, 2025 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.
Proposed Merger
Proposed Merger

On August 13, 2024, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Acquiror 10VB8, LLC, a Delaware limited liability company (“Acquiror”), Merger Sub 10VB8, LLC, a Delaware limited liability company and a wholly owned subsidiary of Acquiror (“Merger Sub”), and, solely for the limited purposes specified in the Merger Agreement, Mars, Incorporated, a Delaware corporation (“Mars”).

The Merger Agreement provides that, subject to the terms and conditions set forth therein, at the effective time of the Merger (the “Effective Time”), (1) Merger Sub will be merged with and into the Company (the “Merger”), with the Company continuing as the surviving corporation and a wholly owned subsidiary of Acquiror, and (2) each share of public common stock, par value $0.25 per share, of the Company issued and outstanding immediately prior to Effective Time (other than shares owned by (i) the Company or its subsidiaries or Mars or its subsidiaries (including Acquiror and its subsidiaries) or (ii) shareowners who have properly exercised and perfected appraisal rights under Delaware law) will be automatically cancelled and converted into the right to receive $83.50 per share in cash, without interest. Completion of the Merger is subject to customary closing conditions, including the receipt of required regulatory approvals.

The Merger Agreement contains certain termination rights, including the right of either the Company or Acquiror to terminate the Merger Agreement if the Merger is not consummated by August 13, 2025 (subject to two extensions for up to an additional six months each if all of the conditions to the closing, other than the conditions related to obtaining regulatory approvals, have been satisfied). The Merger Agreement also provides for certain termination rights for each of the Company and Acquiror, and provides that, upon termination of the Merger Agreement under certain specified circumstances related to the failure to obtain regulatory approvals, Acquiror would be required to pay a termination fee of $1.25 billion to the Company, and under other specified circumstances, including if the Company terminates the Merger Agreement to enter into a superior proposal or Acquiror terminates the Merger Agreement due to a change of recommendation by the Board, the Company would be required to pay to Acquiror a termination fee of $800 million.
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 March 29, 2025, $758 million of the Company’s outstanding payment obligations had been placed in the accounts payable tracking system. As of December 28, 2024, $855 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 will adopt for year-end 2025.
Disaggregation of Income Statement Expenses: In November 2024, the FASB issued ASU 2024-03 to expand the disclosure requirements to include additional disaggregated information about income statement expenses that are commonly presented within existing expense captions. It will take effect for public entities fiscal years beginning after December 15, 2026, 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.
v3.25.1
RESTRUCTURING (Tables)
 3 Months Ended
Mar. 29, 2025
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring and Cost Reduction Activities
The tables below provide the details for charges incurred during the quarters ended March 29, 2025 and March 30, 2024.
 Quarter endedProgram costs to date
(millions)March 29, 2025March 30, 2024March 29, 2025
Employee related costs$3 $37 $48 
Asset related costs— 4 23 
Asset impairment— 60 60 
Other costs3 — 18 
Total$6 $101 $149 
 Quarter endedProgram costs to date
(millions)March 29, 2025March 30, 2024March 29, 2025
North America$— $31 $65 
Europe6 70 84 
Total$6 101 $149 
Schedule of Exit Cost Reserves
Employee
Related
Costs 		Asset
Impairment		Asset
Related
Costs		Other
Costs		Total
Liability as of December 30, 2024$37 $— $— $— $37 
2025 restructuring charges3 — — 3 6 
Cash payments— — — (3)(3)
Non-cash charges and other2 — — — 2 
Liability as of March 29, 2025$42 $— $— $— $42 
v3.25.1
EQUITY (Tables)
 3 Months Ended
Mar. 29, 2025
Equity [Abstract]  
Summary of Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income (loss), net of tax, as of March 29, 2025 and December 28, 2024 consisted of the following:
(millions)March 29,
2025		December 28,
2024
Foreign currency translation adjustments$(2,639)$(2,721)
Net investment hedges gain (loss)245 318 
Cash flow hedges — net deferred gain (loss)173 174 
Postretirement and postemployment benefits:
Net experience gain (loss)(4)(4)
Prior service credit (cost)(42)(43)
Total accumulated other comprehensive income (loss)$(2,267)$(2,276)
v3.25.1
NOTES PAYABLE AND LONG-TERM DEBT (Tables)
 3 Months Ended
Mar. 29, 2025
Debt Disclosure [Abstract]  
Components of Notes Payable NOTES PAYABLE AND LONG-TERM DEBT
The following table presents the components of Notes payable at March 29, 2025 and December 28, 2024:
 March 29, 2025December 28, 2024
(millions)Principal
amount		Effective
interest rate 		Principal
amount		Effective
interest rate
U.S. commercial paper$459 4.62 %$— — %
Bank borrowings127 113 
Total$586 $113 
In March 2025, the Company repaid its €600 million ten-year 1.250% Euro Notes due 2025 with U.S. commercial paper and cash flow from operations.
v3.25.1
EMPLOYEE BENEFITS (Tables)
 3 Months Ended
Mar. 29, 2025
Retirement Benefits [Abstract]  
Components of Plan Benefit Expense
Pension
 Quarter ended
(millions)March 29, 2025March 30, 2024
Service cost$4 $4 
Interest cost35 35 
Expected return on plan assets(40)(41)
Amortization of unrecognized prior service cost2 2 
Total pension (income) expense$1 $— 
Other nonpension postretirement
 Quarter ended
(millions)March 29, 2025March 30, 2024
Service cost$— $1 
Interest cost3 4 
Expected return on plan assets(9)(9)
Amortization of unrecognized prior service cost(1)(1)
Recognized net (gain) loss— (13)
Total postretirement benefit (income) expense$(7)$(18)
Contributions to Employee Benefit Plans Company contributions to employee benefit plans are summarized as follows:
(millions)PensionNonpension postretirementTotal
Quarter ended:
March 29, 2025$12 $— $12 
March 30, 2024$19 $3 $22 
Full year:
Fiscal year 2025 (projected)$183 $4 $187 
Fiscal year 2024 (actual)$51 $3 $54 
v3.25.1
DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Mar. 29, 2025
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 March 29, 2025 and December 28, 2024 were as follows:
(millions)March 29,
2025		December 28,
2024
Foreign currency exchange contracts$3,569 $3,243 
Cross-currency contracts2,030 2,030 
Interest rate contracts1,050 1,050 
Commodity contracts196 285 
Total$6,845 $6,608 
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheet on a recurring basis as of March 29, 2025 and December 28, 2024:
Derivatives designated as hedging instruments
 March 29, 2025December 28, 2024
(millions)Level 1Level 2TotalLevel 1Level 2Total
Assets:
Cross-currency contracts:
Other current assets$— $14 $14 $— $47 $47 
Other assets— 15 15 — 51 51 
Total assets$— $29 $29 $— $98 $98 
Liabilities:
Cross-currency contracts:
Other current liabilities$— $(13)$(13)$— $(2)$(2)
   Other liabilities— (2)(2)— (9)(9)
Interest rate contracts(a):
Other current liabilities— — — — — — 
Other liabilities— (32)(32)— (41)(41)
Total liabilities$— $(47)$(47)$— $(52)$(52)
(a) The fair value of the related hedged portion of the Company's long-term debt, a Level 2 liability, was $0.4 billion as of March 29, 2025 and December 28, 2024.
Derivatives not designated as hedging instruments
 March 29, 2025December 28, 2024
(millions)Level 1Level 2TotalLevel 1Level 2Total
Assets:
Foreign currency exchange contracts:
Other current assets$— $54 $54 $— $65 $65 
Other assets— 4 4 — 2 2 
Interest rate contracts:
Other current assets— 6 6 — 6 6 
Other assets— — — — 1 1 
Commodity contracts:
Other current assets7 — 7 4 — 4 
Total assets$7 $64 $71 $4 $74 $78 
Liabilities:
Foreign currency exchange contracts:
Other current liabilities$— $(24)$(24)$— $(33)$(33)
Other liabilities— (3)(3)— (1)(1)
Interest rate contracts:
Other current liabilities— (8)(8)— (8)(8)
Other liabilities— — — — (1)(1)
Commodity contracts:
Other current liabilities(1)— (1)(7)— (7)
Total liabilities$(1)$(35)$(36)$(7)$(43)$(50)
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 March 29, 2025 and December 28, 2024.
(millions)Line Item in the Consolidated Balance Sheet in which the hedged item is includedCarrying amount of the hedged liabilitiesCumulative amount of fair value hedging adjustment included in the carrying amount of the hedged liabilities (a)
March 29,
2025		December 28,
2024		March 29,
2025		December 28,
2024
Interest rate contractsCurrent maturities of long-term debt$— $627 $— $1 
Interest rate contractsLong-term debt$1,014 $1,005 $(34)$(43)
(a) The fair value adjustment related to current maturities of long-term debt includes $1 million from discontinued hedging relationships as of December 28, 2024. The fair value adjustment related to long-term debt includes $(1) million from discontinued hedging relationships as of March 29, 2025 and December 28, 2024, respectively.
Schedule of Offsetting Assets
    
As of March 29, 2025:
  
Gross Amounts Not Offset in the
Consolidated Balance Sheet
  
  
Amounts
Presented in the
Consolidated
Balance Sheet		Financial
Instruments		Cash Collateral
Received/
Posted		Net
Amount
Total asset derivatives$100 $(61)$39 $78 
Total liability derivatives$(83)$61 $22 $— 

 
As of December 28, 2024:
  
Gross Amounts Not Offset in the
Consolidated Balance Sheet
  
  
Amounts
Presented in the
Consolidated
Balance Sheet		Financial
Instruments		Cash Collateral
Received/
Posted		Net
Amount
Total asset derivatives$176 $(88)$61 $149 
Total liability derivatives$(102)$88 $14 $— 
Schedule of Offsetting Liabilities
    
As of March 29, 2025:
  
Gross Amounts Not Offset in the
Consolidated Balance Sheet
  
  
Amounts
Presented in the
Consolidated
Balance Sheet		Financial
Instruments		Cash Collateral
Received/
Posted		Net
Amount
Total asset derivatives$100 $(61)$39 $78 
Total liability derivatives$(83)$61 $22 $— 

 
As of December 28, 2024:
  
Gross Amounts Not Offset in the
Consolidated Balance Sheet
  
  
Amounts
Presented in the
Consolidated
Balance Sheet		Financial
Instruments		Cash Collateral
Received/
Posted		Net
Amount
Total asset derivatives$176 $(88)$61 $149 
Total liability derivatives$(102)$88 $14 $— 
Schedule of the Effect of Derivative Instruments on the Consolidated Statements of Income and Comprehensive Income
The effect of derivative instruments on the Consolidated Statements of Income and Comprehensive Income for the quarters ended March 29, 2025 and March 30, 2024 was as follows:
Derivatives and non-derivatives in net investment hedging relationships
(millions)Gain (loss)
recognized in
AOCI		Gain (loss) excluded from assessment of hedge effectivenessLocation of gain (loss) in income of excluded component
 March 29,
2025		March 30,
2024		March 29,
2025		March 30,
2024
Foreign currency denominated long-term debt$(24)$37 $— $— 
Cross-currency contracts(73)34 11 8 Interest expense
Total$(97)$71 $11 $8 
Derivatives not designated as hedging instruments
(millions)Location of gain
(loss) recognized
in income		Gain (loss)
recognized in
income
  March 29,
2025		March 30,
2024
Foreign currency exchange contractsCOGS$(17)$(1)
Foreign currency exchange contractsOther income (expense), net6 4 
Foreign currency exchange contractsSG&A13 9 
Interest rate contractsInterest expense1 — 
Commodity contractsCOGS14 (17)
Total$17 $(5)
The effect of fair value and cash flow hedge accounting on the Consolidated Income Statement for the quarters ended March 29, 2025 and March 30, 2024:
March 29, 2025March 30, 2024
(millions)Interest ExpenseInterest 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$63 $83 
Gain (loss) on fair value hedging relationships:
Interest contracts:
Hedged items(8)1 
Derivatives designated as hedging instruments8 1 
Gain (loss) on cash flow hedging relationships:
Interest contracts:
Amount of gain (loss) reclassified from AOCI into income1 (2)
v3.25.1
REPORTABLE SEGMENTS (Tables)
 3 Months Ended
Mar. 29, 2025
Segment Reporting [Abstract]  
Reconciliation of Revenue from Segments to Consolidated
Reportable segment results including details of the significant expense categories provided to the CODM for the quarters ended March 29, 2025 and March 30, 2024 were as follows:
Quarter ended March 29, 2025
Reportable segments
(millions)North AmericaEuropeLatin AmericaAMEACorporateConsolidated
Net sales$1,619 $579 $266 $620 $(1)$3,083 
Cost of goods sold1,006 380 185 452 1 2,024 
Selling, general, and administrative expense308 109 62 94 56 629 
Operating profit$305 $90 $19 $74 $(58)$430 

Quarter ended March 30, 2024
Reportable segments
(millions)North AmericaEuropeLatin AmericaAMEACorporateConsolidated
Net sales$1,688 $599 $314 $600 $(1)$3,200 
Cost of goods sold1,055 460 217 427 10 2,169 
Selling, general, and administrative expense298 111 70 98 61 638 
Operating profit$335 $28 $27 $75 $(72)$393 
Schedule of Reportable Segment Information
 Quarter ended
(millions)March 29,
2025		March 30,
2024
Depreciation and amortization
North America (a)$41 $63 
Europe (a)22 60 
Latin America13 8 
AMEA14 13 
Total Reportable Segments90 144 
Corporate2 2 
Consolidated$92 $146 
Interest expense
North America$— $2 
Europe9 17 
Latin America1 1 
AMEA5 6 
Corporate48 57 
Consolidated$63 $83 
Income taxes
Europe$11 $4 
Latin America5 7 
AMEA13 14 
Corporate & North America44 57 
Consolidated$73 $82 
(a) Quarter ended March 30, 2024, includes asset impairment charges as discussed in Note 10.
Schedule Of Total Assets And Additions To Long Lived Assets By Segment
Quarter ended
(millions)March 29, 2025March 30, 2024
Additions to property
North America$51 $68 
Europe51 41 
Latin America33 24 
AMEA36 19 
Corporate5 3 
Consolidated$176 $155 
Revenue from External Customers by Products and Services
Supplemental product information is provided below for net sales to external customers:
Quarter ended
(millions)March 29,
2025		March 30,
2024
Snacks$1,897 $2,015 
Cereal645 687 
Frozen290 290 
Noodles and other251 208 
Consolidated$3,083 $3,200 
v3.25.1
SUPPLEMENTAL FINANCIAL STATEMENT DATA (Tables)
 3 Months Ended
Mar. 29, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplemental Financial Data Consolidated Balance Sheet [Table Text Block]
Consolidated Balance Sheet
(millions)March 29, 2025December 28, 2024
Trade receivables$1,269 $1,268 
Allowance for credit losses(14)(17)
Refundable income taxes63 58 
Other receivables254 213 
Accounts receivable, net$1,572 $1,522 
Raw materials and supplies$311 $303 
Finished goods and materials in process912 862 
Inventories$1,223 $1,165 
Intangible assets not subject to amortization$1,658 $1,651 
Intangible assets subject to amortization, net116 109 
Other intangibles, net$1,774 $1,760 
v3.25.1
ACCOUNTING POLICIES - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
Mar. 29, 2025
Dec. 28, 2024
Aug. 13, 2024
Obligations placed in accounts payable tracking system $ 758 $ 855  
Common stock, par value (in dollars per share) $ 0.25 $ 0.25  
Mars Inc Member      
Business Combination, Termination Fee     $ 800
Business Combination, Termination Fee Receivable     $ 1,250
Common stock, par value (in dollars per share)     $ 0.25
Business Combination, Price Per Share     $ 83.50
Minimum [Member]      
Supplier finance program general payment timing, period 0 days    
Maximum [Member]      
Supplier finance program general payment timing, period 150 days    
v3.25.1
SEPARATION TRANSACTION - Transition Services and Supply Agreement Narrative (Details) - WK Kellogg Co - Spinoff - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 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 $ 14 $ 47
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 $ 6 33
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 $ 8 14
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 $ 8 15
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 $ 7 $ 13
v3.25.1
SALE OF ACCOUNTS RECEIVABLE - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Dec. 28, 2024
Monetization Program | Other income (expense)      
Transfer of Financial Assets Accounted for as Sales [Line Items]      
Gain (Loss) on Sale of Accounts Receivable $ (10) $ (11)  
Monetization Program | Maximum [Member]      
Transfer of Financial Assets Accounted for as Sales [Line Items]      
Transfers of Accounts Receivable Agreements 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 729   $ 653
Kellogg Foreign Subsidiaries Other Program      
Transfer of Financial Assets Accounted for as Sales [Line Items]      
Transfers of Accounts Receivable Agreements $ 5   $ 15
v3.25.1
RESTRUCTURING - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Restructuring Cost and Reserve [Line Items]    
Program costs to date $ 149  
Restructuring charges $ 6 $ 101
Minimum [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Activities, Description 1  
Maximum [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and Related Activities, Description 5  
North America    
Restructuring Cost and Reserve [Line Items]    
Program costs to date $ 65  
Restructuring charges 0 31
Employee Related Costs [Member]    
Restructuring Cost and Reserve [Line Items]    
Program costs to date 48  
Restructuring charges 3 37
Asset related costs [Member]    
Restructuring Cost and Reserve [Line Items]    
Program costs to date 23  
Restructuring charges 0 4
Other Restructuring [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring charges 3  
North America Frozen Supply Chain Network Reconfiguration    
Restructuring Cost and Reserve [Line Items]    
Restructuring and related cost, expected cost 70  
North America Frozen Supply Chain Network Reconfiguration | COGS    
Restructuring Cost and Reserve [Line Items]    
Restructuring charges 1 31
North America Frozen Supply Chain Network Reconfiguration | Employee Related Costs [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and related cost, expected cost 10  
North America Frozen Supply Chain Network Reconfiguration | Asset related costs [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and related cost, expected cost 50  
North America Frozen Supply Chain Network Reconfiguration | Other Restructuring [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and related cost, expected cost 10  
European Cereal Supply Chain Network Reconfiguration    
Restructuring Cost and Reserve [Line Items]    
Restructuring and related cost, expected cost 120  
Restructuring charges 6 $ 70
European Cereal Supply Chain Network Reconfiguration | Employee Related Costs [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and related cost, expected cost 50  
European Cereal Supply Chain Network Reconfiguration | Asset related costs [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and related cost, expected cost 40  
European Cereal Supply Chain Network Reconfiguration | Other Restructuring [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and related cost, expected cost $ 30  
v3.25.1
RESTRUCTURING - Schedule of Restructuring Charges Incurred (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Restructuring Cost and Reserve [Line Items]    
Restructuring charges $ 6 $ 101
Restructuring and Related Cost, Cost Incurred to Date 149  
North America    
Restructuring Cost and Reserve [Line Items]    
Restructuring charges 0 31
Restructuring and Related Cost, Cost Incurred to Date 65  
Europe    
Restructuring Cost and Reserve [Line Items]    
Restructuring charges 6 70
Restructuring and Related Cost, Cost Incurred to Date 84  
Employee Related Costs [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring charges 3 37
Restructuring and Related Cost, Cost Incurred to Date 48  
Asset related costs [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring charges 0 4
Restructuring and Related Cost, Cost Incurred to Date 23  
Asset Impairment    
Restructuring Cost and Reserve [Line Items]    
Restructuring charges 0 60
Restructuring and Related Cost, Cost Incurred to Date 60  
Other Costs    
Restructuring Cost and Reserve [Line Items]    
Restructuring charges 3 $ 0
Restructuring and Related Cost, Cost Incurred to Date $ 18  
v3.25.1
RESTRUCTURING - Restructuring Program Reserves Narrative (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Restructuring Cost and Reserve [Line Items]    
Project reserve $ 42 $ 37
Employee Related Costs [Member]    
Restructuring Cost and Reserve [Line Items]    
Project reserve 42 $ 37
Europe | Employee Related Costs [Member] | European Cereal Supply Chain Network Reconfiguration    
Restructuring Cost and Reserve [Line Items]    
Project reserve $ 42  
v3.25.1
RESTRUCTURING - Restructuring Program Reserves Rollforward (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Restructuring Cost and Reserve [Line Items]    
Liability, beginning balance $ 37  
Restructuring charges 6 $ 101
Cash payments (3)  
Non-cash charges and other 2  
Liability, ending balance 42  
Employee Related Costs [Member]    
Restructuring Cost and Reserve [Line Items]    
Liability, beginning balance 37  
Restructuring charges 3 37
Cash payments 0  
Non-cash charges and other 2  
Liability, ending balance 42  
Asset Impairment    
Restructuring Cost and Reserve [Line Items]    
Liability, beginning balance 0  
Restructuring charges 0 60
Cash payments 0  
Non-cash charges and other 0  
Liability, ending balance 0  
Asset related costs [Member]    
Restructuring Cost and Reserve [Line Items]    
Liability, beginning balance 0  
Restructuring charges 0 $ 4
Cash payments 0  
Non-cash charges and other 0  
Liability, ending balance 0  
Other Costs[Member]    
Restructuring Cost and Reserve [Line Items]    
Liability, beginning balance 0  
Restructuring charges 3  
Cash payments (3)  
Non-cash charges and other 0  
Liability, ending balance $ 0  
v3.25.1
EQUITY - Narrative (Details) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 30, 2024
Dec. 31, 2022
Equity, Class of Treasury Stock [Line Items]    
Anti-dilutive potential common shares excluded from reconciliation 6  
December 2022 Share Repurchase Program    
Equity, Class of Treasury Stock [Line Items]    
Stock repurchase program, authorized amount   $ 1,500
v3.25.1
EQUITY - Summary of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]    
Foreign currency translation adjustments $ (2,639) $ (2,721)
Net investment hedges gain (loss) 245 318
Cash flow hedges — net deferred gain (loss) 173 174
Postretirement and postemployment benefits:    
Net experience gain (loss) (4) (4)
Prior service credit (cost) (42) (43)
Total accumulated other comprehensive income (loss) $ (2,267) $ (2,276)
v3.25.1
NOTES PAYABLE AND LONG-TERM DEBT - Narrative (Details)
€ in Millions, $ in Millions
Mar. 29, 2025
USD ($)
Dec. 28, 2024
USD ($)
May 17, 2024
EUR (€)
Debt Instrument [Line Items]      
Notes Payable, Current $ 586 $ 113  
U.S. commercial paper      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Effective Percentage 4.62% 0.00%  
Notes Payable, Current $ 459 $ 0  
Bank borrowings      
Debt Instrument [Line Items]      
Notes Payable, Current $ 127 $ 113  
OnePercentEURNotesDueTwentyTwentyFour      
Debt Instrument [Line Items]      
Debt Instrument, Face Amount | €     € 600
Debt Instrument, Interest Rate, Stated Percentage     1.25%
v3.25.1
EMPLOYEE BENEFITS - Components of Plan Benefit Expense (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Pension | Global Plans    
Defined Benefit Plan Disclosure [Line Items]    
Service cost $ 4 $ 4
Interest cost 35 35
Expected return on plan assets (40) (41)
Amortization of unrecognized prior service cost (gain) 2 2
Total plan benefit (income) expense 1 0
Other Nonpension Postretirement | U.S. and Canada    
Defined Benefit Plan Disclosure [Line Items]    
Service cost 0 1
Interest cost 3 4
Expected return on plan assets (9) (9)
Amortization of unrecognized prior service cost (gain) (1) (1)
Recognized net (gain) loss 0 (13)
Total plan benefit (income) expense $ (7) $ (18)
v3.25.1
EMPLOYEE BENEFITS - Components of Plan Benefit Expense Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Other assets    
Defined Benefit Plan Disclosure [Line Items]    
Voluntary Employee Benefit Association (VEBA) Trust Surplus Withdrawal   $ 175
U.S. and Canada | Other Nonpension Postretirement    
Defined Benefit Plan Disclosure [Line Items]    
Recognized net (gain) loss $ 0 $ (13)
v3.25.1
EMPLOYEE BENEFITS - Contributions to Employee Benefit Plans (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Dec. 28, 2024
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions to employee benefit plans $ 12 $ 22 $ 54
Total current year projected employer contributions 187    
Global Plans | Pension      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions to employee benefit plans 12 19 51
Total current year projected employer contributions 183    
U.S. and Canada | Nonpension postretirement      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions to employee benefit plans 0 $ 3 $ 3
Total current year projected employer contributions $ 4    
v3.25.1
INCOME TAXES - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Income Tax Contingency [Line Items]    
Effective income tax rate 19.00% 23.00%
Unrecognized tax benefits $ 33  
Unrecognized tax benefits that would affect the effective income tax rate $ 29  
v3.25.1
DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Derivative [Line Items]    
Net deferred losses reported in AOCI to be reclassified into income in the next twelve months $ 8  
Collateral posted 57  
Gain (loss) recognized in AOCI (97) $ 71
Unrealized gain (loss) on cash flow hedges, pre-tax   22
Net Investment Hedging    
Derivative [Line Items]    
Gain (loss) recognized in AOCI (97) 71
Cross currency interest rate contract | Net Investment Hedging    
Derivative [Line Items]    
Gain (loss) recognized in AOCI (7)  
Accounts Receivable, Net | Exchange-traded commodity    
Derivative [Line Items]    
Margin deposits 4  
Interest expense | Cross currency interest rate contract | Net Investment Hedging    
Derivative [Line Items]    
Gain (loss) recognized in AOCI $ (73) $ 34
v3.25.1
DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Schedule of Total Notional Amounts of Derivative Instruments (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Derivatives, Fair Value [Line Items]    
Notional amount of derivative $ 6,845 $ 6,608
Foreign currency exchange contracts    
Derivatives, Fair Value [Line Items]    
Notional amount of derivative 3,569 3,243
Cross currency interest rate contract    
Derivatives, Fair Value [Line Items]    
Notional amount of derivative 2,030 2,030
Interest rate contracts    
Derivatives, Fair Value [Line Items]    
Notional amount of derivative 1,050 1,050
Commodity contracts    
Derivatives, Fair Value [Line Items]    
Notional amount of derivative $ 196 $ 285
v3.25.1
DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Derivatives, Fair Value [Line Items]    
Fair Value Of Related Hedge Portion Of Long Term Debt $ 400 $ 400
Long-term debt total, carrying value 5,000 5,000
Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Assets 29 98
Liabilities (47) (52)
Not Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Assets 71 78
Liabilities (36) (50)
Level 1 | Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Assets 0 0
Liabilities 0 0
Level 1 | Not Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Assets 7 4
Liabilities (1) (7)
Level 2 | Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Assets 29 98
Liabilities (47) (52)
Level 2 | Not Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Assets 64 74
Liabilities (35) (43)
Cross currency interest rate contract | Other current assets | Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Assets 14 47
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 14 47
Cross currency interest rate contract | Other assets | Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Assets 15 51
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 15 51
Cross currency interest rate contract | Other current liabilities | Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Liabilities (13) (2)
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 (13) (2)
Cross currency interest rate contract | Other liabilities | Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Liabilities (2) (9)
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 (2) (9)
Foreign currency exchange contracts | Other current assets | Not Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Assets 54 65
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 54 65
Foreign currency exchange contracts | Other assets | Not Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Assets 4 2
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 4 2
Foreign currency exchange contracts | Other current liabilities | Not Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Liabilities (24) (33)
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 (24) (33)
Foreign currency exchange contracts | Other liabilities | Not Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Liabilities (3) (1)
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) (1)
Interest rate contracts | Other current assets | Not Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Assets 6 6
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 | Not Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Assets 6 6
Interest rate contracts | Other assets | Not Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Assets 0 1
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 | Not Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Assets 0 1
Interest rate contracts | Other current liabilities | Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Liabilities 0 0
Interest rate contracts | Other current liabilities | Not Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Liabilities (8) (8)
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 0
Interest rate contracts | Other current liabilities | Level 2 | Not Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Liabilities (8) (8)
Interest rate contracts | Other liabilities | Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Liabilities (32) (41)
Interest rate contracts | Other liabilities | Not Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Liabilities 0 (1)
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] (32) (41)
Interest rate contracts | Other liabilities | Level 2 | Not Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Liabilities 0 (1)
Commodity contracts | Other current assets | Not Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Assets 7 4
Commodity contracts | Other current assets | Level 1 | Not Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Assets 7 4
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 (1) (7)
Commodity contracts | Other current liabilities | Level 1 | Not Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Liabilities (1) (7)
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 $ 600 $ 1,200
[1] The fair value of the related hedged portion of the Company's long-term debt, a Level 2 liability, was $0.4 billion as of March 29, 2025 and December 28, 2024.
v3.25.1
DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Schedule of Cumulative Basis Adjustments for Fair Value Hedges (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Derivatives, Fair Value [Line Items]    
Current maturities of long-term debt $ 4 $ 632
Long-term debt 5,027 4,998
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 0 627
Long-term debt 1,014 1,005
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] 0 1
Long-term debt [1] (34) (43)
Hedging adjustment | Discontinued Hedges | Interest rate contracts    
Derivatives, Fair Value [Line Items]    
Current maturities of long-term debt   1
Long-term debt $ (1) $ (1)
[1] The fair value adjustment related to current maturities of long-term debt includes $1 million from discontinued hedging relationships as of December 28, 2024. The fair value adjustment related to long-term debt includes $(1) million from discontinued hedging relationships as of March 29, 2025 and December 28, 2024, respectively.
v3.25.1
DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Schedule of Offsetting Assets and Liabilities (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Offsetting [Abstract]    
Asset derivatives, Amounts Presented in the Consolidated Balance Sheet $ 100 $ 176
Asset derivatives, Financial Instruments, Gross Amounts Not Offset in the Consolidated Balance Sheet (61) (88)
Asset derivatives, Cash Collateral Posted, Gross Amounts Not Offset in the Consolidated Balance Sheet 39 61
Derivative Asset, Including Not Subject to Master Netting Arrangement, after Offset and Deduction 78 149
Liability derivatives, Amounts Presented in the Consolidated Balance Sheet (83) (102)
Liability derivatives, Financial Instruments, Gross Amounts Not Offset in the Consolidated Balance Sheet 61 88
Liability derivatives, Cash Collateral Received, Gross Amounts Not Offset in the Consolidated Balance Sheet 22 14
Derivative Liability, Including Not Subject to Master Netting Arrangement, after Offset and Deduction, Total $ 0 $ 0
v3.25.1
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
Mar. 29, 2025
Mar. 30, 2024
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) recognized in AOCI $ (97) $ 71
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Cost of goods sold Cost of goods sold
Not Designated as Hedging Instrument    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative, Gain (Loss) on Derivative, Net $ 17 $ (5)
Not Designated as Hedging Instrument | Foreign currency exchange contracts | COGS    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative, Gain (Loss) on Derivative, Net (17) (1)
Not Designated as Hedging Instrument | Foreign currency exchange contracts | Selling, General and Administrative Expenses    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative, Gain (Loss) on Derivative, Net 13 9
Not Designated as Hedging Instrument | Foreign currency exchange contracts | Interest expense    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative, Gain (Loss) on Derivative, Net 1 0
Not Designated as Hedging Instrument | Foreign currency exchange contracts | Other income (expense), net    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative, Gain (Loss) on Derivative, Net 6 4
Not Designated as Hedging Instrument | Commodity contracts    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative, Gain (Loss) on Derivative, Net 14 (17)
Net Investment Hedging    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) recognized in AOCI (97) 71
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net 11 8
Net Investment Hedging | Foreign currency denominated long-term debt    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) recognized in AOCI (24) 37
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net 0 0
Net Investment Hedging | Cross currency interest rate contract    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) recognized in AOCI (7)  
Net Investment Hedging | Cross currency interest rate contract | Interest expense    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) recognized in AOCI (73) 34
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net $ 11 $ 8
v3.25.1
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
Mar. 29, 2025
Mar. 30, 2024
Derivative Instruments, Gain (Loss) [Line Items]    
Interest Expense, Debt $ 63 $ 83
Gain (loss) recognized in AOCI (97) 71
Interest rate contracts | Designated as Hedging Instrument | Cash Flow Hedging    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) recognized in AOCI 1 (2)
Interest rate contracts | Interest expense | Designated as Hedging Instrument | Fair Value Hedges    
Derivative Instruments, Gain (Loss) [Line Items]    
Hedged items (8) 1
Derivatives designated as hedging instruments $ 8 $ 1
v3.25.1
DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Fair value measurements on a nonrecurring basis (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Dec. 28, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Impairment of property $ 0 $ 60  
Property, Plant and Equipment, Net 3,345   $ 3,234
Current maturities of long-term debt 4   632
Fair Value Of Related Hedge Portion Of Long Term Debt $ 400   400
Hedging adjustment | Interest rate contracts | Discontinued Hedges      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Current maturities of long-term debt     $ 1
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  
v3.25.1
DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Marketable Securities (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Debt Securities, Available-for-sale [Line Items]    
Payments to Acquire Marketable Securities $ 72 $ 175
Sales of marketable securities 84 0
Other assets    
Debt Securities, Available-for-sale [Line Items]    
Voluntary Employee Benefit Association (VEBA) Trust Surplus Withdrawal   175
Corporate bonds | Level 1    
Debt Securities, Available-for-sale [Line Items]    
Payments to Acquire Marketable Securities 72 $ 175
Sales of marketable securities 84  
Corporate bonds | Level 1 | Other assets    
Debt Securities, Available-for-sale [Line Items]    
Marketable securities $ 129  
v3.25.1
DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Equity Investments (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Other assets | Level 2    
Derivatives, Fair Value [Line Items]    
Equity investments $ 40 $ 40
v3.25.1
DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Schedule of Fair Value of Long-term Debt (Details) - USD ($)
$ in Billions
Mar. 29, 2025
Dec. 28, 2024
Derivative Instruments and Fair Value Measurements [Abstract]    
Long-term debt, fair value $ 5.0 $ 4.9
Long-term debt total, carrying value $ 5.0 $ 5.0
v3.25.1
REPORTABLE SEGMENTS - (Details)
$ in Millions
 3 Months Ended
Mar. 29, 2025
USD ($)
Mar. 30, 2024
USD ($)
Segment Reporting Information [Line Items]    
Number of operating segments 4  
Net sales $ 3,083 $ 3,200
Cost of goods sold 2,024 2,169
Selling, general and administrative expense 629 638
Operating profit 430 393
DepreciationDepletionAndAmortizationRestatedForDiscontinuedOperations 92 146
Interest expense 63 83
Income taxes 73 82
Segment, Expenditure, Addition to Long-Lived Assets 176 155
Operating Segments    
Segment Reporting Information [Line Items]    
DepreciationDepletionAndAmortizationRestatedForDiscontinuedOperations 90 144
Operating Segments | North America    
Segment Reporting Information [Line Items]    
Net sales 1,619 1,688
Cost of goods sold 1,006 1,055
Selling, general and administrative expense 308 298
Operating profit 305 335
DepreciationDepletionAndAmortizationRestatedForDiscontinuedOperations 41 63
Interest expense 0 2
Segment, Expenditure, Addition to Long-Lived Assets 51 68
Operating Segments | Europe    
Segment Reporting Information [Line Items]    
Net sales 579 599
Cost of goods sold 380 460
Selling, general and administrative expense 109 111
Operating profit 90 28
DepreciationDepletionAndAmortizationRestatedForDiscontinuedOperations 22 60
Interest expense 9 17
Income taxes 11 4
Segment, Expenditure, Addition to Long-Lived Assets 51 41
Operating Segments | Latin America    
Segment Reporting Information [Line Items]    
Net sales 266 314
Cost of goods sold 185 217
Selling, general and administrative expense 62 70
Operating profit 19 27
DepreciationDepletionAndAmortizationRestatedForDiscontinuedOperations 13 8
Interest expense 1 1
Income taxes 5 7
Segment, Expenditure, Addition to Long-Lived Assets 33 24
Operating Segments | AMEA    
Segment Reporting Information [Line Items]    
Net sales 620 600
Cost of goods sold 452 427
Selling, general and administrative expense 94 98
Operating profit 74 75
DepreciationDepletionAndAmortizationRestatedForDiscontinuedOperations 14 13
Interest expense 5 6
Income taxes 13 14
Segment, Expenditure, Addition to Long-Lived Assets 36 19
Operating Segments | Corporate And North America    
Segment Reporting Information [Line Items]    
Income taxes 44 57
Corporate    
Segment Reporting Information [Line Items]    
Net sales (1) (1)
Cost of goods sold 1 10
Selling, general and administrative expense 56 61
Operating profit (58) (72)
DepreciationDepletionAndAmortizationRestatedForDiscontinuedOperations 2 2
Interest expense 48 57
Segment, Expenditure, Addition to Long-Lived Assets $ 5 $ 3
v3.25.1
REPORTABLE SEGMENTS - Supplemental Product Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Segment Reporting Information [Line Items]    
Net sales $ 3,083 $ 3,200
Snacks    
Segment Reporting Information [Line Items]    
Net sales 1,897 2,015
Cereal    
Segment Reporting Information [Line Items]    
Net sales 645 687
Frozen    
Segment Reporting Information [Line Items]    
Net sales 290 290
Noodles and other    
Segment Reporting Information [Line Items]    
Net sales $ 251 $ 208
v3.25.1
SUPPLEMENTAL FINANCIAL STATEMENT DATA - Consolidated Balance Sheet (Unaudited) (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Trade receivables $ 1,269 $ 1,268
Allowance for credit losses (14) (17)
Refundable income taxes 63 58
Other receivables 254 213
Accounts receivable, net 1,572 1,522
Raw materials and supplies 311 303
Finished goods and materials in process 912 862
Inventories 1,223 1,165
Intangible assets not subject to amortization 1,658 1,651
Intangible assets subject to amortization, net 116 109
Other intangibles, net $ 1,774 $ 1,760