Debt Obligations and Commitments (Tables)

12 Months Ended

Dec. 26, 2020

Debt Obligations and Commitments [Abstract]

Schedule of Long and Short-Term Debt Contractural Commitments

The following table summarizes our debt obligations:

	2020(a)		2019(a)
Short-term debt obligations (b)
Current maturities of long-term debt	$	3,358	$	2,848
Commercial paper (0.2%)	396		—
Other borrowings (1.7% and 6.4%)	26		72
	$	3,780	$	2,920
Long-term debt obligations (b)
Notes due 2020 (2.7%)	—		2,840
Notes due 2021 (2.2% and 2.4%)	3,356		3,276
Notes due 2022 (2.5% and 2.7%)	3,867		3,831
Notes due 2023 (1.5% and 2.8%)	3,017		1,272
Notes due 2024 (2.1% and 3.4%)	3,067		1,839
Notes due 2025 (2.7% and 3.1%)	3,227		1,691
Notes due 2026-2060 (2.9% and 3.4%)	27,165		17,219
Other, due 2020-2026 (1.3% and 1.3%)	29		28
	43,728		31,996
Less: current maturities of long-term debt obligations	(3,358)		(2,848)
Total	$	40,370	$	29,148

(a)Amounts are shown net of unamortized net discounts of $260 million and $163 million for 2020 and 2019, respectively.

(b)The interest rates presented reflect weighted-average effective interest rates at year-end. Certain of our fixed rate indebtedness have been swapped to floating rates through the use of interest rate derivative instruments. See Note 9 for further information regarding our interest rate derivative instruments.

Schedule of Debt Issuances

In 2020, we issued the following senior notes:

Interest Rate		Maturity Date	Amount(a)
2.250	%	March 2025	$	1,500
2.625	%	March 2027	$	500
2.750	%	March 2030	$	1,500
3.500	%	March 2040	$	750
3.625	%	March 2050	$	1,500
3.875	%	March 2060	$	750
0.750	%	May 2023	$	1,000
1.625	%	May 2030	$	1,000
0.250	%	May 2024	€	1,000
0.500	%	May 2028	€	1,000
0.400	%	October 2023	$	750
1.400	%	February 2031	$	750
0.400	%	October 2032	€	750
1.050	%	October 2050	€	750

(a)Represents gross proceeds from issuances of long-term debt excluding debt issuance costs, discounts and premiums.