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Debt
 6 Months Ended
Jul. 04, 2021
Debt Disclosure [Abstract]  
Debt DEBT
Debt consisted of the following:
July 4, 2021December 31, 2020
Fixed-rate notes due:Interest rate:
May 20213.000%$— $2,000 
July 20213.875%500 500 
November 20222.250%1,000 1,000 
May 20233.375%750 750 
August 20231.875%500 500 
November 20242.375%500 500 
April 20253.250%750 750 
May 20253.500%750 750 
June 20261.150%500 — 
August 20262.125%500 500 
April 20273.500%750 750 
November 20272.625%500 500 
May 20283.750%1,000 1,000 
April 20303.625%1,000 1,000 
June 20312.250%500 — 
April 20404.250%750 750 
June 20412.850%500 — 
November 20423.600%500 500 
April 20504.250%750 750 
Floating-rate notes due:
May 2021
3-month LIBOR + 0.38%
— 500 
Commercial paper0.252%2,000 — 
OtherVarious428 117 
Total debt principal14,428 13,117 
Less unamortized debt issuance
    costs and discounts		122 119 
Total debt14,306 12,998 
Less current portion2,821 3,003 
Long-term debt$11,485 $9,995 
In May 2021, we issued $1.5 billion of fixed-rate notes. The proceeds, together with cash on hand and commercial paper issuances, were used to repay fixed- and floating-rate notes totaling $2.5 billion that matured in May 2021 and for general corporate purposes. On July 15, 2021, we repaid an additional $500 of fixed-rate notes at the scheduled maturity.
On July 4, 2021, we had $2 billion of commercial paper outstanding with a dollar-weighted average interest rate of 0.252%. Separately, we have $5 billion in committed bank credit facilities for general corporate purposes and working capital needs and to support our commercial paper issuances. These credit facilities include a $2 billion 364-day facility expiring in March 2022, a $2 billion multi-year facility expiring in March 2023 and a $1 billion multi-year facility expiring in March 2025. We may renew or replace these credit facilities in whole or in part at or prior to their expiration dates. We also have an effective shelf registration on file with the SEC that allows us to access the debt markets.
Our financing arrangements contain a number of customary covenants and restrictions. We were in compliance with all covenants and restrictions on July 4, 2021.