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Debt | 6 Months Ended
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Jul. 01, 2018
Debt Disclosure [Abstract] |
Debt | DEBT Debt consisted of the following:
|  | July 1, 2018 |  | December 31, 2017
Fixed-rate notes due: | Interest rate: |  |  |
May 2020 | 2.875% | $ | 2,000 |  |  | $ | — |
May 2021 | 3.000% | 2,000 |  |  | — |
July 2021 | 3.875% | 500 |  |  | 500 |
November 2022 | 2.250% | 1,000 |  |  | 1,000 |
May 2023 | 3.375% | 750 |  |  | — |
August 2023 | 1.875% | 500 |  |  | 500 |
November 2024 | 2.375% | 500 |  |  | 500 |
May 2025 | 3.500% | 750 |  |  | — |
August 2026 | 2.125% | 500 |  |  | 500 |
November 2027 | 2.625% | 500 |  |  | 500 |
May 2028 | 3.750% | 1,000 |  |  | — |
November 2042 | 3.600% | 500 |  |  | 500 |
Floating-rate notes due: |  |  |  |
May 2020 | 3-month LIBOR + 0.29% | 500 |  |  | — |
May 2021 | 3-month LIBOR + 0.38% | 500 |  |  | — |
Commercial paper | 2.137% | 2,796 |  |  | — |
Other | Various | 104 |  |  | 32 |
Total debt principal |  | 14,400 |  |  | 4,032 |
Less unamortized debt issuance costs and discounts |  | 122 |  |  | 50 |
Total debt |  | 14,278 |  |  | 3,982 |
Less current portion |  | 2,881 |  |  | 2 |
Long-term debt |  | $ | 11,397 |  |  | $ | 3,980 |
In April 2018, we borrowed $7.5 billion under a short-term credit facility to finance, in part, the acquisition of CSRA. In May 2018, we issued $7.5 billion of fixed- and floating-rate notes to repay the borrowings under this facility. W e entered into interest rate swap contracts that exchange the floating interest rates on the $500 notes due in May 2020 and May 2021 for fixed rates. The result of the interest rate swap contracts is effective interest rates on the floating-rate notes that are the same as the rates on the fixed-rate notes due in May 2020 and May 2021. See Note L for further discussion of our derivative financial instruments. Our fixed- and floating-rate notes are fully and unconditionally guaranteed by several of our 100%-owned subsidiaries. See Note P for condensed consolidating financial statements. We have the option to redeem the fixed-rate notes prior to their maturity in whole or in part for the principal plus any accrued but unpaid interest and applicable make-whole amounts. The aggregate amounts of scheduled principal maturities of our debt in the remainder of 2018 and in subsequent years are as follows:
2018 | $ | 2,887 |
2019 | 2 |
2020 | 2,502 |
2021 | 3,002 |
2022 | 1,002 |
Thereafter | 5,005 |
Total debt principal | $ | 14,400 |
On July 1, 2018, we had $2.8 billion of commercial paper outstanding with a dollar-weighted average interest rate of 2.137%. We have $5 billion in committed bank credit facilities for general corporate purposes and working capital needs and to support our commercial paper issuances. These credit facilities include a $2 billion 364-day facility expiring in March 2019, a $1 billion multi-year facility expiring in November 2020 and a $2 billion multi-year facility expiring in March 2023. We may renew or replace these credit facilities in whole or in part at or prior to their expiration dates. Our credit facilities are guaranteed by several of our 100%-owned subsidiaries. We also have an effective shelf registration on file with the Securities and Exchange Commission that allows us to access the debt markets. Our financing arrangements contain a number of customary covenants and restrictions. We were in compliance with all covenants and restrictions on July 1, 2018.

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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