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Debt (Tables)

12 Months Ended

Dec. 29, 2024

Debt Disclosure [Abstract]

Schedule of Debt

Long-term debt consists of the following:

			December 29, 2024						December 31, 2023
			(in millions)
4.25% senior unsecured notes, due February 2027, net of unamortized debt issuance costs and discounts totaling $1 million and $2 million as of December 29, 2024 and December 31, 2023, respectively			$	599					$	598
5.20% senior unsecured notes, due April 2029, net of unamortized debt issuance costs and discounts totaling $3 million and $3 million as of December 29, 2024 and December 31, 2023, respectively			397						397
3.00% senior unsecured notes, due October 2030, net of unamortized debt issuance costs and discounts totaling $7 million and $8 million as of December 29, 2024 and December 31, 2023, respectively			493						492
2.625% senior unsecured notes, due September 2031, net of unamortized debt issuance costs and discounts totaling $7 million and $8 million as of December 29, 2024 and December 31, 2023, respectively			493						492
Bank borrowings			—						12
Total debt			1,983						1,991
Current portion			—						(5)
Total long-term debt			$	1,983					$	1,986

Credit Facilities

						December 29, 2024
Facility						Capacity						Borrowing Base Adjustment						Outstanding Borrowings						Commercial Paper Borrowings						Outstanding Letters of Credit						Amount Available
						(in millions)
Senior unsecured revolving credit facility						$	2,100					$	—					$	—					$	—					$	—					$	2,100
Accounts receivable securitization facility						225						—						—						—						(22)						203
Total credit facilities						$	2,325					$	—					$	—					$	—					$	(22)					$	2,303

The following table presents the fair value and carrying value of total debt as of December 29, 2024 and December 31, 2023:

			December 29, 2024												December 31, 2023
			Fair Value						Carrying Value						Fair Value						Carrying Value
			(in millions)
Debt			$	1,821					$	1,983					$	1,770					$	1,991

Schedule of Maturities of Long-Term Debt

Scheduled principal payments on debt for the next five years are as follows: 

Year						(in millions)
2025						$	—
2026						—
2027						600
2028						—
2029						400

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- References

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

+ References

No definition available.

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- Definition

Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-1

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