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Debt | 9 Months Ended
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Sep. 28, 2025
Debt Disclosure [Abstract] |
Debt | DEBT Debt consisted of the following:
|  | September 28, 2025 |  | December 31, 2024 |
Fixed-rate notes due: | Interest rate: |  |  |  |
April 2025 | 3.250% | $ | — |  |  | $ | 750 |  |
May 2025 | 3.500% | — |  |  | 750 |  |
June 2026 | 1.150% | 500 |  |  | 500 |  |
August 2026 | 2.125% | 500 |  |  | 500 |  |
April 2027 | 3.500% | 750 |  |  | 750 |  |
November 2027 | 2.625% | 500 |  |  | 500 |  |
May 2028 | 3.750% | 1,000 |  |  | 1,000 |  |
April 2030 | 3.625% | 1,000 |  |  | 1,000 |  |
June 2031 | 2.250% | 500 |  |  | 500 |  |
August 2035 | 4.950% | 750 |  |  | — |  |
April 2040 | 4.250% | 750 |  |  | 750 |  |
June 2041 | 2.850% | 500 |  |  | 500 |  |
November 2042 | 3.600% | 500 |  |  | 500 |  |
April 2050 | 4.250% | 750 |  |  | 750 |  |
Other | Various | 78 |  |  | 76 |  |
Total debt principal |  | 8,078 |  |  | 8,826 |  |
Less unamortized debt issuance costs and discounts |  | 64 |  |  | 64 |  |
Total debt |  | 8,014 |  |  | 8,762 |  |
Less current portion |  | 1,006 |  |  | 1,502 |  |
Long-term debt |  | $ | 7,008 |  |  | $ | 7,260 |  |
In May 2025, we issued $750 of fixed-rate notes maturing in August 2035. The proceeds were used to repay fixed-rate notes of $750 that matured in May 2025. In late March 2025, we repaid fixed-rate notes of $750 prior to their scheduled maturity on April 1, 2025 with cash on hand and commercial paper issuances. On September 28, 2025, we had no commercial paper outstanding, but we maintain the ability to access the commercial paper market in the future. Separately, 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 $4 billion facility expiring March 2027 and a $1 billion 364-day facility that we established in early April 2025. We may renew or replace these credit facilities in whole or in part at or prior to their expiration date. We also have an effective shelf registration on file with the SEC 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 September 28, 2025.

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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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