XML 60 R37.htm IDEA: XBRL DOCUMENT
v3.22.1

Debt (Tables) | 3 Months Ended
--- | ---
Mar. 27, 2022
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):
| March 27, 2022 |  | December 31, 2021 |  | March 28, 2021
Unsecured commercial paper | $ | 816,016 |  |  | $ | 751,286 |  |  | $ | 749,801 |
Global credit facility borrowings | — |  |  | — |  |  | 15,462 |
| $ | 816,016 |  |  | $ | 751,286 |  |  | $ | 765,263 |
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):
|  | March 27, 2022 |  | December 31, 2021 |  | March 28, 2021
Secured debt: |  |  |  |  |  |
Asset-backed Canadian commercial paper conduit facility |  | $ | 95,664 |  |  | $ | 85,054 |  |  | $ | 102,543 |
Asset-backed U.S. commercial paper conduit facility |  | 269,534 |  |  | 272,589 |  |  | 350,648 |
Asset-backed securitization debt |  | 1,363,254 |  |  | 1,634,753 |  |  | 2,109,046 |
Unamortized discounts and debt issuance costs |  | (5,696) |  |  | (7,611) |  |  | (9,788) |
|  | 1,722,756 |  |  | 1,984,785 |  |  | 2,552,449 |
Unsecured notes (at par value): |  |  |  |  |  |
Medium-term notes: |  |  |  |  |  |
Due in 2021, issued May 2018 | 3.55 | % | — |  |  | — |  |  | 350,000 |
Due in 2022, issued February 2019 | 4.05 | % | — |  |  | 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 | % | 723,886 |  |  | 737,302 |  |  | 762,996 |
Due in 2024, issued November 2019(b) | 3.14 | % | 668,202 |  |  | 680,586 |  |  | 704,304 |
Due in 2025, issued June 2020 | 3.35 | % | 700,000 |  |  | 700,000 |  |  | 700,000 |
Due in 2027, issued February 2022 | 3.05 | % | 500,000 |  |  | — |  |  | — |
Unamortized discounts and debt issuance costs |  | (12,243) |  |  | (9,228) |  |  | (13,564) |
|  | 3,329,845 |  |  | 3,408,660 |  |  | 3,803,736 |
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 |  | (5,158) |  |  | (5,332) |  |  | (5,851) |
|  | 744,842 |  |  | 744,668 |  |  | 744,149 |
|  | 4,074,687 |  |  | 4,153,328 |  |  | 4,547,885 |
Long-term debt |  | 5,797,443 |  |  | 6,138,113 |  |  | 7,100,334 |
Current portion of long-term debt, net |  | (1,327,357) |  |  | (1,542,496) |  |  | (1,622,243) |
Long-term debt, net |  | $ | 4,470,086 |  |  | $ | 4,595,617 |  |  | $ | 5,478,091 |
(a)€650.0 million par value remeasured to U.S. dollar at March 27, 2022, December 31, 2021, and March 28, 2021, respectively (b)€600.0 million par value remeasured to U.S. dollar at March 27, 2022, December 31, 2021, and March 28, 2021, respectively
Schedule of Maturities of Long-term Debt | Future principal payments of the Company's debt obligations as of March 27, 2022 were as follows (in thousands):
2022 | $ | 1,716,955 |
2023 | 1,591,745 |
2024 | 1,058,291 |
2025 | 1,398,474 |
2026 | 71,091 |
Thereafter | 800,000 |
Future principal payments | 6,636,556 |
Unamortized discounts and debt issuance costs | (23,097) |
| $ | 6,613,459 |

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