XML 49 R37.htm IDEA: XBRL DOCUMENT
v3.21.2

Debt (Tables) | 9 Months Ended
--- | ---
Sep. 26, 2021
Debt Disclosure [Abstract] |
Schedule of Short-term Debt | Debt with a contractual term less than 12 months is generally classified as short-term and consisted of the following (in thousands):
| September 26, 2021 |  | December 31, 2020 |  | September 27, 2020
Unsecured commercial paper | $ | 749,620 |  |  | $ | 1,014,274 |  |  | $ | 1,077,763 |
364-day credit facility borrowings | — |  |  | — |  |  | 150,000 |
| $ | 749,620 |  |  | $ | 1,014,274 |  |  | $ | 1,227,763 |
Schedule of Long-term Debt Instruments | Debt with a contractual term greater than 12 months is generally classified as long-term and consisted of the following (in thousands):
|  | September 26, 2021 |  | December 31, 2020 |  | September 27, 2020
Secured debt: |  |  |  |  |  |
Asset-backed Canadian commercial paper conduit facility |  | $ | 98,310 |  |  | $ | 116,678 |  |  | $ | 127,500 |
Asset-backed U.S. commercial paper conduit facilities |  | 242,254 |  |  | 402,205 |  |  | 467,338 |
Asset-backed securitization debt |  | 1,961,571 |  |  | 1,800,393 |  |  | 2,106,258 |
Unamortized discounts and debt issuance costs |  | (9,203) |  |  | (8,437) |  |  | (9,903) |
|  | 2,292,932 |  |  | 2,310,839 |  |  | 2,691,193 |
Unsecured notes (at par value): |  |  |  |  |  |
Medium-term notes: |  |  |  |  |  |
Due in 2021, issued January 2016 | 2.85 | % | — |  |  | 600,000 |  |  | 600,000 |
Due in 2021, issued November 2018 | LIBOR + 0.94% | — |  |  | 450,000 |  |  | 450,000 |
Due in 2021, issued May 2018 | 3.55 | % | — |  |  | 350,000 |  |  | 350,000 |
Due in 2022, issued February 2019 | 4.05 | % | 550,000 |  |  | 550,000 |  |  | 550,000 |
Due in 2022, issued June 2017 | 2.55 | % | 400,000 |  |  | 400,000 |  |  | 400,000 |
Due in 2023, issued February 2018 | 3.35 | % | 350,000 |  |  | 350,000 |  |  | 350,000 |
Due in 2023, issued May 2020(a) | 4.94 | % | 756,763 |  |  | 797,206 |  |  | 760,890 |
Due in 2024, issued November 2019(b) | 3.14 | % | 698,550 |  |  | 735,882 |  |  | 702,360 |
Due in 2025, issued June 2020 | 3.35 | % | 700,000 |  |  | 700,000 |  |  | 700,000 |
Unamortized discounts and debt issuance costs |  | (10,649) |  |  | (15,374) |  |  | (17,289) |
|  | 3,444,664 |  |  | 4,917,714 |  |  | 4,845,961 |
|  | September 26, 2021 |  | December 31, 2020 |  | September 27, 2020
Senior notes: |  |  |  |  |  |
Due in 2025, issued July 2015 | 3.50 | % | 450,000 |  |  | 450,000 |  |  | 450,000 |
Due in 2045, issued July 2015 | 4.625 | % | 300,000 |  |  | 300,000 |  |  | 300,000 |
Unamortized discounts and debt issuance costs |  | (5,506) |  |  | (6,023) |  |  | (6,194) |
|  | 744,494 |  |  | 743,977 |  |  | 743,806 |
|  | 4,189,158 |  |  | 5,661,691 |  |  | 5,589,767 |
Long-term debt |  | 6,482,090 |  |  | 7,972,530 |  |  | 8,280,960 |
Current portion of long-term debt, net |  | (1,605,798) |  |  | (2,039,597) |  |  | (2,109,284) |
Long-term debt, net |  | $ | 4,876,292 |  |  | $ | 5,932,933 |  |  | $ | 6,171,676 |
(a)Euro denominated, €650.0 million par value remeasured to U.S. dollar at September 26, 2021, December 31, 2020, and September 27, 2020, respectively (b)Euro denominated, €600.0 million par value remeasured to U.S. dollar at September 26, 2021, December 31, 2020, and September 27, 2020, respectively
Schedule of Maturities of Long-term Debt | The Company's future principal payments on debt obligations as of September 26, 2021 were as follows (in thousands):
2021 | $ | 970,079 |
2022 | 1,615,337 |
2023 | 1,752,575 |
2024 | 1,150,272 |
2025 | 1,384,747 |
Thereafter | 384,058 |
| $ | 7,257,068 |

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21506-112644 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69B -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69E -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21521-112644 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123465755&loc=d3e1835-112601 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfShortTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration