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Debt (Tables)
 3 Months Ended
Mar. 29, 2019
Debt Disclosure [Abstract]  
Components of Debt and Reconciliation to Carrying Amount of Current and Long-Term Debt
The components of debt and a reconciliation to the carrying amount of long-term debt is presented in the table below.
 
March 29,
2019
 
December 31,
2018
 
(in millions)
Borrowings under Revolving Credit Facility (1)
$
—

 
$
—

4.95% Senior Notes due 2021
650

 
650

3.85% Senior Notes due 2023
800

 
800

3.95% Senior Notes due 2024
350

 
350

3.85% Senior Notes due 2026
550

 
550

4.40% Senior Notes due 2028
1,000

 
1,000

Principal amount of long-term debt (2)
3,350


3,350

Unamortized discounts
(7
)
 
(7
)
Deferred debt issue costs
(21
)
 
(22
)
Carrying amount of long-term debt
$
3,322

 
$
3,321

__________________
(1) 
During the quarterly period ended March 29, 2019, L3 had no borrowings or repayments under the Credit Facility. At March 29, 2019, L3 had the full availability of its $1 billion Credit Facility.
(2) 
With respect to the Company’s outstanding senior notes, upon the occurrence of both a “change in control” (as defined in the indentures governing the senior notes) along with a “change of control triggering event” (generally described as the applicable series of senior notes ceasing to be rated investment grade, as defined in the indentures governing the senior notes), each holder of the notes will have the right to require L3 to repurchase all or any part of such holder’s notes at an offer price in cash equal to 101% of the aggregate principal amount plus accrued and unpaid interest, if any, to the date of purchase.