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v3.25.4

Borrowings (Tables) | 12 Months Ended
--- | ---
Dec. 27, 2025
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | Long-Term Debt
|  | Dec 27, 2025 |  |  |  | Dec 28, 2024 |  |  |  |
($ In Millions) |  | Effective Interest Rate |  | Amount |  |  |  | Amount |  |  |  |
Fixed-rate senior notes: |  |  |  |  |  |  |  |  |  |  |  |
3.40%, due March 2025 |  | —% |  | $ | — |  |  |  |  | $ | 1,500 |  |  |  |  |
3.70%, due July 2025 |  | —% |  | — |  |  |  |  | 2,250 |  |  |  |  |
4.88%, due February 2026 |  | 4.93% |  | 1,500 |  |  |  |  | 1,500 |  |  |  |  |
2.60%, due May 2026 |  | 5.03% |  | 1,000 |  |  |  |  | 1,000 |  |  |  |  |
3.75%, due March 2027 |  | 3.78% |  | 1,000 |  |  |  |  | 1,000 |  |  |  |  |
3.15%, due May 2027 |  | 5.60% |  | 1,000 |  |  |  |  | 1,000 |  |  |  |  |
3.75%, due August 2027 |  | 3.81% |  | 1,250 |  |  |  |  | 1,250 |  |  |  |  |
4.88%, due February 2028 |  | 4.92% |  | 1,750 |  |  |  |  | 1,750 |  |  |  |  |
1.60%, due August 2028 |  | 1.67% |  | 1,000 |  |  |  |  | 1,000 |  |  |  |  |
4.00%, due August 2029 |  | 4.05% |  | 850 |  |  |  |  | 850 |  |  |  |  |
2.45%, due November 2029 |  | 2.38% |  | 2,000 |  |  |  |  | 2,000 |  |  |  |  |
5.13%, due February 2030 |  | 5.14% |  | 1,250 |  |  |  |  | 1,250 |  |  |  |  |
3.90%, due March 2030 |  | 3.91% |  | 1,500 |  |  |  |  | 1,500 |  |  |  |  |
5.00%, due February 2031 |  | 5.07% |  | 500 |  |  |  |  | 500 |  |  |  |  |
2.00%, due August 2031 |  | 2.02% |  | 1,250 |  |  |  |  | 1,250 |  |  |  |  |
4.15%, due August 2032 |  | 4.17% |  | 1,250 |  |  |  |  | 1,250 |  |  |  |  |
4.00%, due December 2032 |  | 5.65% |  | 750 |  |  |  |  | 750 |  |  |  |  |
5.20%, due February 2033 |  | 5.23% |  | 2,250 |  |  |  |  | 2,250 |  |  |  |  |
5.15%, due February 2034 |  | 5.18% |  | 900 |  |  |  |  | 900 |  |  |  |  |
4.60%, due March 2040 |  | 4.59% |  | 750 |  |  |  |  | 750 |  |  |  |  |
2.80%, due August 2041 |  | 2.81% |  | 750 |  |  |  |  | 750 |  |  |  |  |
4.80%, due October 2041 |  | 6.39% |  | 802 |  |  |  |  | 802 |  |  |  |  |
4.25%, due December 2042 |  | 5.89% |  | 567 |  |  |  |  | 567 |  |  |  |  |
5.63%, due February 2043 |  | 5.61% |  | 1,000 |  |  |  |  | 1,000 |  |  |  |  |
4.90%, due July 2045 |  | 6.52% |  | 772 |  |  |  |  | 772 |  |  |  |  |
4.10%, due May 2046 |  | 5.80% |  | 1,250 |  |  |  |  | 1,250 |  |  |  |  |
4.10%, due May 2047 |  | 5.76% |  | 1,000 |  |  |  |  | 1,000 |  |  |  |  |
4.10%, due August 2047 |  | 5.33% |  | 640 |  |  |  |  | 640 |  |  |  |  |
3.73%, due December 2047 |  | 6.17% |  | 1,967 |  |  |  |  | 1,967 |  |  |  |  |
3.25%, due November 2049 |  | 3.19% |  | 2,000 |  |  |  |  | 2,000 |  |  |  |  |
4.75%, due March 2050 |  | 4.73% |  | 2,250 |  |  |  |  | 2,250 |  |  |  |  |
3.05%, due August 2051 |  | 3.05% |  | 1,250 |  |  |  |  | 1,250 |  |  |  |  |
4.90%, due August 2052 |  | 4.89% |  | 1,750 |  |  |  |  | 1,750 |  |  |  |  |
5.70%, due February 2053 |  | 5.68% |  | 2,000 |  |  |  |  | 2,000 |  |  |  |  |
5.60%, due February 2054 |  | 5.59% |  | 1,150 |  |  |  |  | 1,150 |  |  |  |  |
3.10%, due February 2060 |  | 3.10% |  | 1,000 |  |  |  |  | 1,000 |  |  |  |  |
4.95%, due March 2060 |  | 4.98% |  | 1,000 |  |  |  |  | 1,000 |  |  |  |  |
3.20%, due August 2061 |  | 3.20% |  | 750 |  |  |  |  | 750 |  |  |  |  |
5.05%, due August 2062 |  | 5.03% |  | 900 |  |  |  |  | 900 |  |  |  |  |
5.90%, due February 2063 |  | 5.88% |  | 1,250 |  |  |  |  | 1,250 |  |  |  |  |
|  | Dec 27, 2025 |  |  |  | Dec 28, 2024
($ In Millions) |  | Effective Interest Rate |  | Amount |  |  |  | Amount
Oregon and Arizona bonds 1: |  |  |  |  |  |  |  |
3.80% - 4.10%, due December 2035 - 2040 |  | 3.87% |  | 423 |  |  |  |  | 423 |
5.00%, due September 2042 |  | 3.63% |  | 131 |  |  |  |  | 131 |
4.00%, due June 2049 |  | 3.98% |  | 438 |  |  |  |  | 438 |
5.00%, due September 2052 |  | 4.24% |  | 445 |  |  |  |  | 445 |
Total senior notes and other borrowings |  |  |  | 47,235 |  |  |  |  | 50,985 |
Unamortized premium/discount, issuance costs and other |  |  |  | (384) |  |  |  |  | (392) |
Hedge accounting fair value adjustments |  |  |  | (266) |  |  |  |  | (582) |
Long-term debt |  |  |  | 46,585 |  |  |  |  | 50,011 |
Current portion of long-term debt 2 |  |  |  | (2,499) |  |  |  |  | (3,729) |
Total long-term debt |  |  |  | $ | 44,086 |  |  |  |  | $ | 46,282 |
1 These bonds may be remarketed or tendered on a periodic basis and will be classified within the current portion of long-term debt in the 12 months before remarketing or tendering. 2 As of December 27, 2025, current portion of long-term debt includes $7 million of hedge accounting fair value adjustments ($36 million as of December 28, 2024).
Schedule of Maturities of Long-term Debt | Our aggregate debt maturities, based on outstanding principal as of December 27, 2025, by year payable, are as follows:
(In Millions) |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | 2030 |  | 2031 and thereafter |  | Total
Future debt maturities |  | $ | 2,500 |  |  | $ | 3,826 |  |  | $ | 3,173 |  |  | $ | 3,288 |  |  | $ | 2,750 |  |  | $ | 31,698 |  |  | $ | 47,235 |

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