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v3.19.3.a.u2

Borrowings (Tables) | 12 Months Ended
--- | ---
Dec. 29, 2019
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | The components of long-term debt are as follows:
(Dollars in Millions) |  | 2019 |  | Effective Rate % |  | 2018 |  | Effective Rate % |
4.75% Notes due 2019 (1B Euro 1.1096)(2)/(1B Euro 1.14)(3) |  | $ | — |  |  | — |  |  | 1,139 |  | (2) | 5.83 |
1.875% Notes due 2019 |  | — |  |  | — |  |  | 494 |  |  | 1.93 |
0.89% Notes due 2019 |  | — |  |  | — |  |  | 300 |  |  | 1.32 |
1.125% Notes due 2019 |  | — |  |  | — |  |  | 699 |  |  | 1.13 |
3% Zero Coupon Convertible Subordinated Debentures due 2020 |  | 51 |  |  | 3.00 |  |  | 51 |  |  | 3.00 |
2.95% Debentures due 2020 |  | 549 |  |  | 3.15 |  |  | 548 |  |  | 3.15 |
1.950% Notes due 2020 |  | 500 |  |  | 1.99 |  |  | 499 |  |  | 1.99 |
3.55% Notes due 2021 |  | 449 |  |  | 3.67 |  |  | 449 |  |  | 3.67 |
2.45% Notes due 2021 |  | 349 |  |  | 2.48 |  |  | 349 |  |  | 2.48 |
1.65% Notes due 2021 |  | 999 |  |  | 1.65 |  |  | 998 |  |  | 1.65 |
0.250% Notes due 2022 (1B Euro 1.1096)(2)/(1B Euro 1.14)(3) |  | 1,108 |  | (2) | 0.26 |  |  | 1,137 |  | (3) | 0.26 |
2.25% Notes due 2022 |  | 998 |  |  | 2.31 |  |  | 996 |  |  | 2.31 |
6.73% Debentures due 2023 |  | 250 |  |  | 6.73 |  |  | 250 |  |  | 6.73 |
3.375% Notes due 2023 |  | 804 |  |  | 3.17 |  |  | 805 |  |  | 3.17 |
2.05% Notes due 2023 |  | 498 |  |  | 2.09 |  |  | 498 |  |  | 2.09 |
0.650% Notes due 2024 (750MM Euro 1.1096)(2)/(750MM Euro 1.14)(3) |  | 829 |  | (2) | 0.68 |  |  | 851 |  | (3) | 0.68 |
5.50% Notes due 2024 (500MM GBP 1.2987)(2)/(500MM GBP 1.2636)(3) |  | 645 |  | (2) | 6.75 |  |  | 627 |  | (3) | 6.75 |
2.625% Notes due 2025 |  | 748 |  |  | 2.63 |  |  | 748 |  |  | 2.63 |
2.45% Notes due 2026 |  | 1,993 |  |  | 2.47 |  |  | 1,992 |  |  | 2.47 |
2.95% Notes due 2027 |  | 996 |  |  | 2.96 |  |  | 996 |  |  | 2.96 |
1.150% Notes due 2028 (750MM Euro 1.1096)(2)/(750MM Euro 1.14)(3) |  | 825 |  | (2) | 1.21 |  |  | 847 |  | (3) | 1.21 |
2.900% Notes due 2028 |  | 1,494 |  |  | 2.91 |  |  | 1,493 |  |  | 2.91 |
6.95% Notes due 2029 |  | 297 |  |  | 7.14 |  |  | 297 |  |  | 7.14 |
4.95% Debentures due 2033 |  | 498 |  |  | 4.95 |  |  | 498 |  |  | 4.95 |
4.375% Notes due 2033 |  | 855 |  |  | 4.24 |  |  | 856 |  |  | 4.24 |
1.650% Notes due 2035 (1.5B Euro 1.1096)(2)/(1.5B Euro 1.14)(3) |  | 1,649 |  | (2) | 1.68 |  |  | 1,693 |  | (3) | 1.68 |
3.55% Notes due 2036 |  | 989 |  |  | 3.59 |  |  | 988 |  |  | 3.59 |
5.95% Notes due 2037 |  | 992 |  |  | 5.99 |  |  | 991 |  |  | 5.99 |
3.625% Notes due 2037 |  | 1,487 |  |  | 3.64 |  |  | 1,486 |  |  | 3.64 |
5.85% Debentures due 2038 |  | 696 |  |  | 5.85 |  |  | 696 |  |  | 5.85 |
3.400% Notes due 2038 |  | 991 |  |  | 3.42 |  |  | 990 |  |  | 3.42 |
4.50% Debentures due 2040 |  | 539 |  |  | 4.63 |  |  | 538 |  |  | 4.63 |
4.85% Notes due 2041 |  | 297 |  |  | 4.89 |  |  | 297 |  |  | 4.89 |
4.50% Notes due 2043 |  | 495 |  |  | 4.52 |  |  | 495 |  |  | 4.52 |
3.70% Notes due 2046 |  | 1,973 |  |  | 3.74 |  |  | 1,972 |  |  | 3.74 |
3.75% Notes due 2047 |  | 991 |  |  | 3.76 |  |  | 991 |  |  | 3.76 |
3.500% Notes due 2048 |  | 742 |  |  | 3.52 |  |  | 742 |  |  | 3.52 |
Other |  | 18 |  |  | — |  |  | 24 |  |  | — |
Subtotal |  | 27,594 |  | (4) | 3.19 | % | (1) | 30,320 |  | (4) | 3.19 | (1 | )
Less current portion |  | 1,100 |  |  |  |  |  | 2,636 |  |  |  |
Total long-term debt |  | $ | 26,494 |  |  |  |  |  | 27,684 |  |  |  |
(1) | Weighted average effective rate.
(2) | Translation rate at December 29, 2019.
(3) | Translation rate at December 30, 2018.
(4) | The excess of the fair value over the carrying value of debt was $3.0 billion in 2019 and $0.3 billion in 2018.
Aggregate Maturities of Long Term Obligations | Aggregate maturities of long-term debt obligations commencing in 2020 are:
(Dollars in Millions) |  |  |  |  |  |  |  |
2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | After 2024
$1,100 |  | 1,797 |  | 2,106 |  | 1,552 |  | 1,474 |  | 19,565

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