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Debt and Revolving Facility | 6 Months Ended
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Jun. 29, 2024
Debt Disclosure [Abstract] |
Debt and Revolving Facility | Debt, Revolving Credit Facility and Commercial Paper Program Debt The Company’s total debt as of June 29, 2024 and December 30, 2023 consisted of the following:
| June 29, 2024 |  | December 30, 2023
| (In millions)
2.95% Senior Notes Due 2024 (2.95% Notes) | $ | — |  |  | $ | 750 |
2.375% Senior Notes Due 2030 (2.375% Notes) | 750 |  |  | 750 |
3.924% Senior Notes Due 2032 (3.924% Notes) | 500 |  |  | 500 |
4.393% Senior Notes Due 2052 (4.393% Notes) | 500 |  |  | 500 |
Total debt (principal amount) | 1,750 |  |  | 2,500 |
Unamortized debt discount and issuance costs | (31) |  |  | (32) |
Total debt (net) | 1,719 |  |  | 2,468 |
Less: current portion of long-term debt and related unamortized debt premium and issuance costs | — |  |  | (751) |
Total long-term debt | $ | 1,719 |  |  | $ | 1,717 |
2.95% Senior Notes Due 2024 The 2.95% Notes with a principal amount of $750 million were repaid in June 2024. 2.375% Senior Notes Due 2030, 3.924% Senior Notes Due 2032 and 4.393% Senior Notes Due 2052 The 2.375% Notes, 3.924% Notes and 4.393% Notes are general unsecured senior obligations of the Company with semi-annual fixed interest payments due on June 1 and December 1. As of June 29, 2024, the Company was in compliance with the covenants associated with its debt. Revolving Credit Facility The Company has $3.0 billion available under a revolving credit facility that expires on April 29, 2027. During the three and six months ended June 29, 2024, the Company did not borrow under the revolving credit facility and as of June 29, 2024 and December 30, 2023, the Company had no outstanding borrowings under the revolving credit facility. As of June 29, 2024, the Company was in compliance with the covenants under the revolving credit facility. Commercial Paper Program The Company has a commercial paper program under which it can issue unsecured commercial paper notes up to $3.0 billion. During the three and six months ended June 29, 2024, the Company did not issue any commercial paper under the program and as of June 29, 2024 and December 30, 2023, the Company had no commercial paper outstanding.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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