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Borrowings (Tables)

12 Months Ended

Jan. 01, 2023

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The components of long-term debt are as follows:

(Dollars in Millions)						2022						Effective Rate %						2021						Effective Rate %
0.250% Notes due 2022 (1B Euro 1.1311)(3)						$	—					—		%				$	1,131		(3)			0.26		%
2.25% Notes due 2022						—						—						1,000						2.31
6.73% Debentures due 2023						250						6.73						250						6.73
3.375% Notes due 2023						801						3.17						802						3.18
2.05% Notes due 2023						500						2.09						499						2.09
0.650% Notes due 2024 (750MM Euro 1.0651)(2)/(750MM Euro 1.1311)(3)						792			(2)			0.68						847			(3)			0.68
5.50% Notes due 2024 (500MM 1.2037 GBP )(2)/(500MM GBP 1.3485)(3)						600			(2)			6.75						672			(3)			6.75
2.625% Notes due 2025						749						2.63						749						2.63
0.55% Notes due 2025						918						0.57						983						0.57
2.45% Notes due 2026						1,996						2.47						1,995						2.47
2.95% Notes due 2027						877						2.96						978						2.96
0.95% Notes due 2027						1,394						0.96						1,478						0.96
1.150% Notes due 2028 (750MM Euro 1.0651)(2)/(750MM Euro 1.1311)(3)						794			(2)			1.21						843			(3)			1.21
2.90% Notes due 2028						1,496						2.91						1,495						2.91
6.95% Notes due 2029						298						7.14						298						7.14
1.30% Notes due 2030						1,607						1.30						1,723						1.30
4.95% Debentures due 2033						498						4.95						498						4.95
4.375% Notes due 2033						854						4.24						854						4.24
1.650% Notes due 2035 (1.5B Euro 1.0651)(2)/(1.5B Euro 1.1311)(3)						1,591			(2)			1.68						1,683			(3)			1.68
3.55% Notes due 2036						842						3.59						974						3.59
5.95% Notes due 2037						993						5.99						993						5.99
3.625% Notes due 2037						1,336						3.64						1,475						3.64
5.85% Debentures due 2038						697						5.85						696						5.85
3.400% Notes due 2038						992						3.42						992						3.42
4.50% Debentures due 2040						540						4.63						540						4.63
2.10% Notes due 2040						828						2.14						974						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						1,976						3.74						1,975						3.74
3.75% Notes due 2047						812						3.76						971						3.76
3.500% Notes due 2048						743						3.52						743						3.52
2.250% Notes due 2050						808						2.29						983						2.29
2.450% Notes due 2060						1,055						2.49						1,222						2.49
Other						9						—						7						—
Subtotal						28,439			(4)			3.04		%	(1)			32,116			(4)			2.89		%	(1)
Less current portion						1,551												2,131
Total long-term debt						$	26,888											$	29,985

(1)Weighted average effective rate.

(2)Translation rate at January 1, 2023.

(3)Translation rate at January 2, 2022.

(4)The excess of the carrying value over the fair value of debt was $1.6 billion at the end of fiscal year 2022 and the excess of the fair value over the carrying value of debt was $3.2 billion at the end of fiscal year 2021.

Aggregate Maturities of Long Term Obligations

Aggregate maturities of long-term debt obligations commencing in 2023 are:

(Dollars in Millions)
2023						2024						2025						2026						2027						After 2026
$1,551						1,392						1,667						1,996						2,271						19,562

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