Debt and Credit Facilities (Tables)

12 Months Ended

Dec. 31, 2022

Our debt is summarized in the table below:


(In millions)	December 31, 2022		January 1, 2022
Manufacturing group
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 2.20% and 2.04%, respectively)	32		35
Total Manufacturing group debt	$	3,182	$	3,185
Less: Current portion of long-term debt	(7)		(6)
Total Long-term debt	$	3,175	$	3,179
Finance group
Variable-rate note due 2025 (5.86%) and 2022 (1.65%)	$	25	$	100
Fixed-rate note due 2027 (4.40%) and 2022 (2.88%)	50		150
Variable-rate notes due 2022-2027 (weighted-average rate of 5.81% and 1.57%, respectively)*	5		7
Fixed-rate notes due 2022-2028 (weighted-average rate of 3.39% and 3.29%, respectively)*	23		36
Floating Rate Junior Subordinated Notes due 2067 (6.34% and 1.89%, respectively)	272		289
Total Finance group debt	$	375	$	582

* 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 December 31, 2022: