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Debt (Tables) | 6 Months Ended
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Jun. 29, 2024
Debt |
Schedule of short-term borrowings, including current portion of long-term debt | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 29, | ​ | December 31,
(thousands) |  | 2024 |  | 2023
3.25% notes, due September 2024 | ​ | $ | 499,686 | ​ | $ | 499,224
4.00% notes, due April 2025 | ​ | ​ | 349,534 | ​ | ​ | —
Commercial paper | ​ |  | — | ​ |  | 1,121,882
Other short-term borrowings | ​ |  | 11,318 | ​ |  | 32,848
​ | ​ | $ | 860,538 | ​ | $ | 1,653,954
Schedule of long-term debt | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 29, | ​ | December 31,
(thousands) |  | 2024 |  | 2023
North American asset securitization program | ​ | $ | 860,000 | ​ | $ | 198,000
4.00% notes, due 2025 | ​ |  | — | ​ |  | 349,061
6.125% notes, due 2026 (a) | ​ | ​ | — | ​ | ​ | 497,661
7.50% senior debentures, due 2027 | ​ |  | 110,225 | ​ |  | 110,184
3.875% notes, due 2028 | ​ |  | 497,433 | ​ |  | 497,098
2.95% notes, due 2032 | ​ |  | 495,305 | ​ |  | 495,039
5.875% notes, due 2034 | ​ |  | 494,772 | ​ |  | —
Other obligations with various interest rates and due dates | ​ |  | 21,578 | ​ |  | 6,510
​ | ​ | $ | 2,479,313 | ​ | $ | 2,153,553
(a) | Upon issuance of the 6.125% notes due March 2026, the company entered into an interest rate swap, which effectively converted the 6.125% notes to floating rate notes based on the SOFR + 0.508%, or an effective interest rate of 5.83% as of March 30, 2024. In March 2024, the company received a notice from the swap counterparty to terminate the swap without penalty. The effective date of cancellation was April 1, 2024. Refer to Note H.
Schedule of estimated fair market value of long-term debt, using quoted market prices | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 29, | ​ | December 31,
(thousands) |  | 2024 |  | 2023
4.00% notes, due 2025 | ​ | $ | — | ​ | $ | 343,500
6.125% notes, due 2026 | ​ | ​ | — | ​ | ​ | 502,000
7.50% senior debentures, due 2027 | ​ | ​ | 115,500 | ​ | ​ | 117,000
3.875% notes, due 2028 | ​ | ​ | 473,500 | ​ | ​ | 475,000
2.95% notes, due 2032 | ​ |  | 418,000 | ​ |  | 425,000
5.875% notes, due 2034 | ​ |  | 495,500 | ​ |  | —
​ | ​ |  | ​ | ​ |  | ​

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- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + 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://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482925/835-30-45-2 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482925/835-30-45-1A Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-3 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482949/835-30-55-8 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480848/942-470-50-3 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-6 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-7 + Details
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- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
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