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Fair Value of Financial Instruments and Risk Management (Tables)

12 Months Ended

Jan. 02, 2026

Fair Value Disclosures [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Financial Instruments

The carrying values and estimated fair values of our financial instruments that are not required to be recorded at fair value in our consolidated balance sheets are provided in the following table.

									January 2, 2026												January 3, 2025
Dollars in millions									Carrying Value						Fair Value						Carrying Value						Fair Value
Liabilities (including current maturities):
Term Loan A			Level 2						$	989					$	989					$	1,006					$	1,006
Term Loan B			Level 2						983						989						993						996
Senior Notes			Level 2						250						246						250						240
Revolver			Level 2						395						395						345						345

Schedule of Changes in Fair Value of Balance Sheet Hedges

The following table summarizes the recognized changes in fair value of our balance sheet hedges and remeasurement of balance sheet positions. These amounts are recognized in our consolidated statements of operations for the periods presented. The net of our changes in fair value of hedges and the remeasurement of our assets and liabilities is included in other non-operating expense on our consolidated statements of operations.

									Year ended
Dollars in millions															January 2, 2026						January 3, 2025						December 29, 2023
Balance Sheet Hedges - Fair Value															$	(2)					$	—					$	—
Balance Sheet Position - Remeasurement															(5)						(3)						(6)
Net															$	(7)					$	(3)					$	(6)

Schedule of Interest Rate Swaps

Our portfolio of interest rate swaps consists of the following:

Dollars in millions			Notional Amount at January 2, 2026*						Pay Fixed Rate (Weighted Average)						Receive Variable Rate						Settlement and Termination
March 2020 Interest Rate Swaps			$	400					0.89		%				Term SOFR						Monthly through January 2027
September 2022 Interest Rate Swaps			$	350					3.43		%				Term SOFR						Monthly through January 2027
March 2023 Interest Rate Swaps			$	205					3.61		%				Term SOFR						Monthly through January 2027
March 2023 Amortizing Interest Rate Swaps			£	104					3.81		%				Term SONIA						Monthly through November 2026
September 2024 Interest Rate Swaps			$	200					3.27		%				Term SOFR						Monthly through August 2027
April 2025 Interest Rate Swaps			$	270					3.39		%				Term SOFR						Monthly through August 2027
April 2025 Forward Interest Rate Swaps			$	150					3.38		%				Term SOFR						Monthly from August 2027 through December 2030

*Includes the April 2025 Forward Interest Rate Swaps that become effective August 14, 2027.

Schedule of Third-Party Financial Institutions

Activity for third-party financial institutions consisted of the following:

			Year ended
Dollars in millions			January 2, 2026						January 3, 2025
Beginning balance			$	106					$	135
Sale of receivables			2,143						3,117
Settlement of receivables			(2,184)						(3,127)
Cash collected, not yet remitted			—						(19)
Outstanding balances sold to financial institutions			$	65					$	106

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- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

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-Topic 820
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-Name Accounting Standards Codification
-Section 50
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Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

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