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SHORT AND LONG-TERM DEBT (Tables)
9 Months Ended
Oct. 02, 2022
Debt Disclosure [Abstract]  
Schedule of Short-term Debt Short-term debt consisted of the following:
October 2, 2022December 31, 2021
Short-term foreign bank borrowings against lines of credit$130,343$119,038
U.S. commercial paper663,528820,385
Total short-term debt$793,871$939,423
Weighted average interest rate on outstanding commercial paper3.0 %0.1 %
Schedule of Long-term Debt Instruments Long-term debt consisted of the following:
Debt Type and Rate
Maturity Date
October 2, 2022December 31, 2021
2.625% Notes
May 1, 2023250,000 250,000 
3.375% Notes
May 15, 2023500,000 500,000 
2.050% Notes
November 15, 2024300,000 300,000 
0.900% Notes
June 1, 2025300,000 300,000 
3.200% Notes
August 21, 2025300,000 300,000 
2.300% Notes
August 15, 2026500,000 500,000 
7.200% Debentures
August 15, 2027193,639 193,639 
2.450% Notes
November 15, 2029300,000 300,000 
1.700% Notes
June 1, 2030350,000 350,000 
3.375% Notes
August 15, 2046300,000 300,000 
3.125% Notes
November 15, 2049400,000400,000
2.650% Notes
June 1, 2050350,000350,000
Finance lease obligations (see Note 7)
69,71969,146
Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts(20,486)(23,314)
Total long-term debt4,092,872 4,089,471 
Less—current portion752,2012,844
Long-term portion$3,340,671 $4,086,627 
Schedule of Net Interest Expense Net interest expense consists of the following:
Three Months EndedNine Months Ended
October 2, 2022October 3, 2021October 2, 2022October 3, 2021
Interest expense$38,520 $33,066 $109,526 $106,597 
Capitalized interest(2,487)(2,380)(6,155)(7,181)
Interest expense
36,033 30,686 103,371 99,416 
Interest income(655)(532)(1,401)(1,761)
Interest expense, net
$35,378 $30,154 $101,970 $97,655