Debt and Credit Facilities (Tables)

12 Months Ended

Jan. 01, 2022

Our debt is summarized in the table below:


(In millions)	January 1, 2022		January 2, 2021
Manufacturing group
3.65% due 2021	$	—	$	250
5.95% due 2021	—		250
4.30% due 2024	350		350
3.875% due 2025	350		350
4.00% due 2026	350		350
3.65% due 2027	350		350
3.375% due 2028	300		300
3.90% due 2029	300		300
3.00% due 2030	650		650
2.45% due 2031	500		500
Other (weighted-average rate of 2.04% and 2.60%, respectively)	35		57
Total Manufacturing group debt	$	3,185	$	3,707
Less: Current portion of long-term debt	(6)		(509)
Total Long-term debt	$	3,179	$	3,198
Finance group
2.88% note due 2022	$	150	$	150
Variable-rate note due 2022 (1.65% and 1.70%, respectively)	100		150
Fixed-rate notes due 2021-2028 (weighted-average rate of 3.29% and 3.25%, respectively)*	36		51
Variable-rate notes due 2021-2027 (weighted-average rate of 1.57% and 1.73%, respectively)*	7		17
Fixed-to-Floating Rate Junior Subordinated Notes (1.89% and 1.96%, respectively)	289		294
Total Finance group debt	$	582	$	662

* Notes amortize on a monthly basis and are secured by finance receivables as described in Note 4.

The following table shows required payments during the next five years on debt outstanding at January 1, 2022: