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v3.22.0.1

Borrowings (Tables) | 12 Months Ended
--- | ---
Jan. 02, 2022
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | The components of long-term debt are as follows:
(Dollars in Millions) |  | 2021 |  | Effective Rate % |  | 2020 |  | Effective Rate % |
3.55% Notes due 2021 |  | $ | — |  |  | — | % |  | $ | 450 |  |  | 3.67 | % |
2.45% Notes due 2021 |  | — |  |  | — |  |  | 350 |  |  | 2.48 |  |
1.65% Notes due 2021 |  | — |  |  | — |  |  | 999 |  |  | 1.65 |  |
0.250% Notes due 2022 (1B Euro 1.1311)(2)/(1B Euro 1.2281)(3) |  | 1,131 |  | (2) | 0.26 |  |  | 1,227 |  | (3) | 0.26 |  |
2.25% Notes due 2022 |  | 1,000 |  |  | 2.31 |  |  | 999 |  |  | 2.31 |  |
6.73% Debentures due 2023 |  | 250 |  |  | 6.73 |  |  | 250 |  |  | 6.73 |  |
3.375% Notes due 2023 |  | 802 |  |  | 3.18 |  |  | 803 |  |  | 3.17 |  |
2.05% Notes due 2023 |  | 499 |  |  | 2.09 |  |  | 499 |  |  | 2.09 |  |
0.650% Notes due 2024 (750MM Euro 1.1311)(2)/(750MM Euro 1.2281)(3) |  | 847 |  | (2) | 0.68 |  |  | 919 |  | (3) | 0.68 |  |
5.50% Notes due 2024 (500MM 1.3485 GBP )(2)/(500MM GBP 1.3654)(3) |  | 672 |  | (2) | 6.75 |  |  | 679 |  | (3) | 6.75 |  |
2.625% Notes due 2025 |  | 749 |  |  | 2.63 |  |  | 748 |  |  | 2.63 |  |
0.55% Notes due 2025 |  | 983 |  |  | 0.57 |  |  | 996 |  |  | 0.57 |  |
2.45% Notes due 2026 |  | 1,995 |  |  | 2.47 |  |  | 1,994 |  |  | 2.47 |  |
2.95% Notes due 2027 |  | 978 |  |  | 2.96 |  |  | 997 |  |  | 2.96 |  |
0.95% Notes due 2027 |  | 1,478 |  |  | 0.96 |  |  | 1,494 |  |  | 0.96 |  |
1.150% Notes due 2028 (750MM Euro 1.1311)(2)/(750MM Euro 1.2281)(3) |  | 843 |  | (2) | 1.21 |  |  | 915 |  | (3) | 1.21 |  |
2.90% Notes due 2028 |  | 1,495 |  |  | 2.91 |  |  | 1,495 |  |  | 2.91 |  |
6.95% Notes due 2029 |  | 298 |  |  | 7.14 |  |  | 297 |  |  | 7.14 |  |
1.30% Notes due 2030 |  | 1,723 |  |  | 1.30 |  |  | 1,743 |  |  | 1.30 |  |
4.95% Debentures due 2033 |  | 498 |  |  | 4.95 |  |  | 498 |  |  | 4.95 |  |
4.375% Notes due 2033 |  | 854 |  |  | 4.24 |  |  | 855 |  |  | 4.24 |  |
1.650% Notes due 2035 (1.5B Euro 1.1311)(2)/(1.5B Euro 1.2281)(3) |  | 1,683 |  | (2) | 1.68 |  |  | 1,827 |  | (3) | 1.68 |  |
3.55% Notes due 2036 |  | 974 |  |  | 3.59 |  |  | 989 |  |  | 3.59 |  |
5.95% Notes due 2037 |  | 993 |  |  | 5.99 |  |  | 992 |  |  | 5.99 |  |
3.625% Notes due 2037 |  | 1,475 |  |  | 3.64 |  |  | 1,488 |  |  | 3.64 |  |
5.85% Debentures due 2038 |  | 696 |  |  | 5.85 |  |  | 696 |  |  | 5.85 |  |
3.400% Notes due 2038 |  | 992 |  |  | 3.42 |  |  | 991 |  |  | 3.42 |  |
4.50% Debentures due 2040 |  | 540 |  |  | 4.63 |  |  | 539 |  |  | 4.63 |  |
2.10% Notes due 2040 |  | 974 |  |  | 2.14 |  |  | 986 |  |  | 2.14 |  |
4.85% Notes due 2041 |  | 297 |  |  | 4.89 |  |  | 297 |  |  | 4.89 |  |
4.50% Notes due 2043 |  | 496 |  |  | 4.52 |  |  | 496 |  |  | 4.52 |  |
3.70% Notes due 2046 |  | 1,975 |  |  | 3.74 |  |  | 1,974 |  |  | 3.74 |  |
3.75% Notes due 2047 |  | 971 |  |  | 3.76 |  |  | 991 |  |  | 3.76 |  |
3.500% Notes due 2048 |  | 743 |  |  | 3.52 |  |  | 742 |  |  | 3.52 |  |
2.250% Notes due 2050 |  | 983 |  |  | 2.29 |  |  | 984 |  |  | 2.29 |  |
2.450% Notes due 2060 |  | 1,222 |  |  | 2.49 |  |  | 1,228 |  |  | 2.49 |  |
Other |  | 7 |  |  | — |  |  | 7 |  |  | — |  |
Subtotal |  | 32,116 |  | (4) | 2.89 | % | (1) | 34,434 |  | (4) | 2.85 | % | (1)
Less current portion |  | 2,131 |  |  |  |  | 1,799 |  |  |  |
Total long-term debt |  | $ | 29,985 |  |  |  |  | $ | 32,635 |  |  |  |
(1)Weighted average effective rate. (2)Translation rate at January 2, 2022. (3)Translation rate at January 3, 2021. (4)The excess of the fair value over the carrying value of debt was $3.2 billion at the end of fiscal year 2021 and $5.4 billion at the end of fiscal year 2020.
Aggregate Maturities of Long Term Obligations | Aggregate maturities of long-term debt obligations commencing in 2022 are:
(Dollars in Millions) |  |  |  |  |  |  |  |
2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | After 2026
$2,131 |  | 1,551 |  | 1,518 |  | 1,732 |  | 1,995 |  | 23,189

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