Debt and Credit Facilities (Tables)

12 Months Ended

Jan. 03, 2015

Debt and Credit Facilities

Debt and credit facilities

(In millions)	January 3, 2015			December 28, 2013
Manufacturing group
Long-term senior debt:
6.20% due 2015	$	—		$	350
4.625% due 2016	250			250
Variable-rate note due 2016 (average rate of 1.48% and 1.54%, respectively)	150			150
5.60% due 2017	350			350
7.25% due 2019	250			250
Variable-rate note due 2018-2019 (average rate of 1.67%)	300			—
6.625% due 2020	234			246
5.95% due 2021	250			250
3.65% due 2021	250			—
4.30% due 2024	350			—
3.875% due 2025	350			—
Other (weighted-average rate of 1.32% and 1.57%, respectively)	77			85
Total Manufacturing group debt	$	2,811		$	1,931
Less: current portion of long-term debt	(8		)	(8		)
Total long-term debt	$	2,803		$	1,923
Finance group
Fixed-rate note due 2014 (5.13%)	$	—		$	100
Fixed-rate notes due 2014-2017* (weighted-average rate of 4.59%)	32			42
Variable-rate notes due 2016 (weighted-average rate of 1.73% and 1.78%, respectively)	200			200
Fixed-rate notes due 2017-2024* (weighted-average rate of 2.76% and 2.67%, respectively)	381			378
Variable-rate notes due 2015-2024* (weighted-average rate of 1.18% and 1.19%, respectively)	52			63
Securitized debt (weighted-average rate of 1.50%)	98			172
6% Fixed-to-Floating Rate Junior Subordinated Notes	299			299
Fair value adjustments and unamortized discount	1			2
Total Finance group debt	$	1,063		$	1,256

* Notes amortize on a quarterly or semi-annual basis.

Required payments during the next five years on debt outstanding at January 3, 2015

(In millions)	2015		2016		2017		2018		2019
Manufacturing group	$	8	$	408	$	358	$	82	$	480
Finance group	128		302		96		70		54
Total	$	136	$	710	$	454	$	152	$	534