Quarterly report pursuant to Section 13 or 15(d)

Other Comprehensive Income (Loss)

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Other Comprehensive Income (Loss)
 6 Months Ended
Jun. 26, 2021
Equity [Abstract]  
Other Comprehensive Income (Loss)
Note 11 : Other Comprehensive Income (Loss)
The changes in accumulated other comprehensive income (loss) by component and related tax effects in the first six months of 2021 were as follows:
(In Millions) Unrealized Holding Gains (Losses) on Derivatives Actuarial Valuation and Other Pension Expenses Translation Adjustments and Other Total
Balance as of December 26, 2020 $ 731  $ (1,565) $ 83  $ (751)
Other comprehensive income (loss) before reclassifications (285) 3  (32) (314)
Amounts reclassified out of accumulated other comprehensive income (loss) (161) 31  —  (130)
Tax effects 102  (9) 7  100 
Other comprehensive income (loss) (344) 25  (25) (344)
Balance as of June 26, 2021 $ 387  $ (1,540) $ 58  $ (1,095)
We estimate that we will reclassify approximately $115 million (before taxes) of net derivative gains included in accumulated other comprehensive income (loss) into earnings within the next 12 months.