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Debt (Tables)

3 Months Ended

Apr. 04, 2025

Debt Disclosure [Abstract]

Schedule of Company's Debt

Our debt consisted of the following:

(in millions)			Stated interest rate						Effective interest rate						April 4, 2025						January 3, 2025
Senior unsecured term loan:
$1,000 million term loan, due March 2028			5.67		%				5.84		%				$	975					$	1,000
Senior unsecured notes:
$500 million notes, due May 2025			3.63		%				3.76		%				—						500
$750 million notes, due May 2030			4.38		%				4.50		%				750						750
$1,000 million notes, due February 2031			2.30		%				2.38		%				1,000						1,000
$500 million notes, due March 2032			5.40		%				5.42		%				500						—
$250 million notes, due July 2032			7.13		%				7.43		%				250						250
$750 million notes, due March 2033			5.75		%				5.81		%				750						750
$300 million notes, due July 2033			5.50		%				5.88		%				161						161
$500 million notes, due March 2035			5.50		%				5.55		%				500						—
$300 million notes, due December 2040			5.95		%				6.03		%				218						218
Finance leases due on various dates through fiscal 2032			Various						1.84%-6.31%						69						73
Less: unamortized debt discounts and deferred debt issuance costs															(40)						(32)
Total long-term debt															5,133						4,670
Less current portion															(119)						(618)
Total long-term debt, net of current portion															$	5,014					$	4,052

REVOLVING CREDIT FACILITY

Schedule of Future Minimum Payments of Debt

Future minimum payments of debt are as follows:

Fiscal Year Ending (in millions)
2025 (remainder of year)						$	90
2026						120
2027						114
2028						705
2029						5
2030 and thereafter						4,139
Total principal payments						5,173
Less: unamortized debt discount and issuance costs						(40)
Total long-term debt						$	5,133

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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.

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