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Debt (Tables) | 9 Months Ended
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Oct. 02, 2020
Debt Disclosure [Abstract] |
Schedule of Long-term Debt | Long-term debt is summarized below:
(In millions) |  | October 2, 2020 |  | January 3, 2020
Variable-rate debt: |  |  |
Floating rate notes, due April 30, 2020 | $ | — |  |  | $ | 250 |
Floating rate notes, due March 10, 2023 | 250 |  |  | — |
Total variable-rate debt | 250 |  |  | 250 |
Fixed-rate debt: |  |  |
4.95% notes, due February 15, 2021 | 650 |  |  | 650 |
3.85% notes, due June 15, 2023 | 800 |  |  | 800 |
3.95% notes, due May 28, 2024 | 350 |  |  | 350 |
3.832% notes, due April 27, 2025 | 600 |  |  | 600 |
7.00% debentures, due January 15, 2026 | 100 |  |  | 100 |
3.85% notes, due December 15, 2026 | 550 |  |  | 550 |
6.35% debentures, due February 1, 2028 | 26 |  |  | 26 |
4.40% notes, due June 15, 2028 | 1,850 |  |  | 1,850 |
2.90% notes, due December 15, 2029 | 400 |  |  | 400 |
4.854% notes, due April 27, 2035 | 400 |  |  | 400 |
6.15% notes, due December 15, 2040 | 300 |  |  | 300 |
5.054% notes, due April 27, 2045 | 500 |  |  | 500 |
Other | 51 |  |  | 49 |
Total fixed-rate debt | 6,577 |  |  | 6,575 |
Total debt | 6,827 |  |  | 6,825 |
Plus: unamortized bond premium | 127 |  |  | 154 |
Less: unamortized discounts and issuance costs | (27) |  |  | (28) |
Total debt, net | 6,927 |  |  | 6,951 |
Less: current portion of long-term debt, net | (666) |  |  | (257) |
Total long-term debt, net | $ | 6,261 |  |  | $ | 6,694 |
Schedule of Debt Exchange |
(In millions) | Aggregate Principal Amount of L3 Notes (prior to debt exchange) |  | Aggregate Principal Amount of New L3Harris Notes Issued |  | Aggregate Principal Amount of Remaining L3 Notes
4.95% notes due February 15, 2021 (“4.95% 2021 Notes”) | $ | 650 |  |  | $ | 501 |  |  | $ | 149 |
3.85% notes due June 15, 2023 (“3.85% 2023 Notes”) | 800 |  |  | 741 |  |  | 59 |
3.95% notes due May 28, 2024 (“3.95% 2024 Notes”) | 350 |  |  | 326 |  |  | 24 |
3.85% notes due December 15, 2026 (“3.85% 2026 Notes”) | 550 |  |  | 535 |  |  | 15 |
4.40% notes due June 15, 2028 (“4.40% 2028 Notes”) | 1,000 |  |  | 918 |  |  | 82 |
Total | $ | 3,350 |  |  | $ | 3,021 |  |  | $ | 329 |

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- Definition Tabular disclosure of information on an original debt issue that has been converted in a noncash (or part noncash) transaction during the accounting period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. The information may be presented entirely or partially in this block of text or in the associated elements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121583591&loc=d3e4313-108586 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121583591&loc=d3e4332-108586 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=121583591&loc=d3e4304-108586 + Details
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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
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