DEBT

The carrying value of the Company’s debt, including debt issuance costs, discounts or premiums consisted of the following (in millions):



	October 1, 2016		January 2, 2016
Term Loan Due 2020	$	2,336	$	2,093
2016 Senior Notes	—		500
2018 Senior Notes	497		496
2020 Senior Notes	497		496
2023 Senior Notes	893		892
2025 Senior Notes	495		494
2043 Senior Notes	689		689
Yen-denominated Senior Notes Due 2017	81		68
Yen-denominated Senior Notes Due 2020	126		106
Yen-denominated credit facilities	64		54
Commercial paper borrowings	96		504
Total debt	5,774		6,392
Less: current debt obligations	371		1,163
Long-term debt	$	5,403	$	5,229

Contractual maturities of the Company's debt for the next five fiscal years and thereafter, excluding any debt issuance costs, discounts or premiums, as of October 1, 2016 were as follows (in millions):



	Remainder of 2016		2017		2018		2019		2020		After 2020
Future minimum principal payments	$	128	$	275	$	598	$	227	$	2,481	$	2,100

During the first nine months of 2016, the Company repaid its $500 million principal amount of 5-year, 2.500% unsecured senior notes due 2016, made net commercial paper payments of $408 million and drew the remaining $500 million of its 5-year, $2.6 billion unsecured term loan due 2020 (Term Loan Due 2020) to refinance existing indebtedness and for general corporate purposes. The Company also made quarterly principal payments totaling $92 million for the nine months ended October 1, 2016 and prepaid an additional $167 million on its Term Loan Due 2020. Additionally, during the nine months ended October 1, 2016, the Company's yen-denominated credit facility that expired in March 2016 for 3.25 billion Japanese Yen (the equivalent of $32 million as of October 1, 2016) was automatically extended for a one-year period bearing interest at Yen LIBOR plus 0.250%, and the Company's yen-denominated credit facility that expired in June 2016 for 3.25 billion Japanese Yen (the equivalent of $32 million as of October 1, 2016) was automatically extended for a one-year period bearing interest at Yen LIBOR plus 0.270%.