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Accounts Payable and Warranty Liability

3 Months Ended

Mar. 29, 2025

Payables and Accruals [Abstract]

Accounts Payable and Warranty Liability

Accounts Payable and Warranty Liability

Accounts Payable

Supplier Financing Arrangement

We have a financing arrangement with one of our suppliers for a maximum amount of $200 million that extends payment terms for up to 190 days from the receipt of goods and provides for the supplier to be paid by a financial institution earlier than maturity. This financing arrangement expires in April 2027. At March 29, 2025 and December 28, 2024, the amount due under the supplier financing arrangement was $91 million and $50 million, respectively.

Warranty Liability

Changes in our current and non-current warranty liability are as follows:

			Three Months Ended
(In millions)			March 29, 2025			March 30, 2024
Beginning of period			$	173		$	172
Provision			17			17
Settlements			(16)			(18)
Adjustments*			(1)			(1)
End of period			$	173		$	170

* Adjustments include changes to prior year estimates, new issues on prior year sales and currency translation adjustments.

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- Definition

The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
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-Subparagraph (SX 210.5-02(20))
-Publisher FASB
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-Name Accounting Standards Codification
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- References

No definition available.

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