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DEBT AND CREDIT ARRANGEMENTS (Tables) | 9 Months Ended
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Sep. 29, 2023
Debt Disclosure [Abstract] |
Schedule of Long-term Debt, Net | Long-term debt, net is summarized below:
(In millions) | September 29, 2023 |  | December 30, 2022
Variable-rate debt: |  |  |
Floating rate notes, due March 10, 2023 (“Floating 2023 Notes”) | $ | — |  |  | $ | 250 |
Term loan, due November 21, 2025 | 2,250 |  |  | — |
Fixed-rate debt: |  |  |
3.85% notes, due June 15, 2023 (“3.85% 2023 Notes”) | — |  |  | 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 |
5.40% notes, due January 15, 2027 (“5.4% 2027 Notes”) | 1,250 |  |  | — |
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 |
1.80% notes, due January 15, 2031 | 650 |  |  | 650 |
5.40% notes, due July 31, 2033 (“5.4% 2033 Notes”) | 1,500 |  |  | — |
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 |
5.60% notes, due July 31, 2053 (“5.6% 2053 Notes”) | 500 |  |  | — |
Total variable and fixed-rate debt | 11,226 |  |  | 6,776 |
Financing lease obligations and other debt | 277 |  |  | 222 |
Total debt | 11,503 |  |  | 6,998 |
Plus: unamortized bond premium | 55 |  |  | 70 |
Less: unamortized discounts and issuance costs | (55) |  |  | (25) |
Total debt, net | 11,503 |  |  | 7,043 |
Less: current portion of long-term debt, net | (363) |  |  | (818) |
Total long-term debt, net | $ | 11,140 |  |  | $ | 6,225 |

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