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Debt and Other Credit Facilities (Tables)

9 Months Ended

Oct. 03, 2025

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

Our outstanding debt consisted of the following at the dates indicated:

Dollars in millions						October 3, 2025						January 3, 2025
Term Loan A						$	995					$	1,006
Term Loan B						985						993
Senior Notes						250						250
Revolver						395						345
Unamortized debt issuance costs and discounts						(21)						(25)
Total debt						2,604						2,569
Less: current portion						46						36
Total long-term debt, net of current portion						$	2,558					$	2,533

The details of the applicable margins and commitment fees under the Revolver, Term Loan A-1 and Term Loan A-3 are based on our consolidated net leverage ratio as follows:

						Revolver, Term Loan A-1 and Term Loan A-3
Consolidated Net Leverage Ratio						Reference Rate (a)						Base Rate												Commitment Fee
Greater than or equal to 4.25 to 1.00						2.25		%				1.25		%										0.33		%
Less than 4.25 to 1.00 but greater than or equal to 3.25 to 1.00						2.00		%				1.00		%										0.30		%
Less than 3.25 to 1.00 but greater than or equal to 2.25 to 1.00						1.75		%				0.75		%										0.28		%
Less than 2.25 to 1.00 but greater than or equal to 1.25 to 1.00						1.50		%				0.50		%										0.25		%
Less than 1.25 to 1.00						1.25		%				0.25		%										0.23		%

(a)The reference rate for the Revolver and the U.S. dollar tranches of Term Loan A-1 is SOFR plus 10 bps Credit Spread Adjustment and the British pound sterling tranche of Term Loan A-3 is SONIA plus 12 bps Credit Spread Adjustment.

The details of the applicable margins and commitment fees under Term Loan A-2 are based on our consolidated net leverage ratio as follows:

						Term Loan A-2
Consolidated Net Leverage Ratio						Reference Rate (a)						Base Rate												Commitment Fee
Greater than or equal to 4.25 to 1.00						2.13		%				1.13		%										0.33		%
Less than 4.25 to 1.00 but greater than or equal to 3.25 to 1.00						1.88		%				0.88		%										0.30		%
Less than 3.25 to 1.00 but greater than or equal to 2.25 to 1.00						1.63		%				0.63		%										0.28		%
Less than 2.25 to 1.00 but greater than or equal to 1.25 to 1.00						1.38		%				0.38		%										0.25		%
Less than 1.25 to 1.00						1.13		%				0.13		%										0.23		%

(a)The reference rate for Term Loan A-2 is SOFR.

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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.

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