Debt (Tables)

3 Months Ended

Apr. 02, 2022

Debt Disclosure [Abstract]

Summary of Long-Term Debt and Related Weighted Average Interest Rates

A summary of long-term debt, net of unamortized debt issuance costs and unamortized original issue premium (discount), and the related weighted average interest rates is shown below (in millions):

	April 2, 2022
Debt Instrument	Long-Term Debt		Unamortized Debt Issuance Costs		Unamortized Original Issue Premium (Discount)		Long-Term Debt, Net		Weighted Average Interest Rate
3.8% Senior Notes due 2027 (the "2027 Notes")	$	550.0	$	(2.5)	$	(2.1)	$	545.4	3.885%
4.25% Senior Notes due 2029 (the "2029 Notes")	375.0		(2.2)		(0.8)		372.0		4.288%
3.5% Senior Notes due 2030 (the "2030 Notes")	350.0		(2.2)		(0.7)		347.1		3.525%
2.6% Senior Notes due 2032 (the "2032 Notes")	350.0		(3.0)		(0.6)		346.4		2.624%
5.25% Senior Notes due 2049 (the "2049 Notes")	625.0		(6.0)		13.5		632.5		5.103%
3.55% Senior Notes due 2052 (the "2052 Notes")	350.0		(3.9)		(0.4)		345.7		3.558%
Other	7.5		—		—		7.5		N/A
	$	2,607.5	$	(19.8)	$	8.9	$	2,596.6
Less — Current portion							(0.8)
Long-term debt							$	2,595.8

	December 31, 2021
Debt Instrument	Long-Term Debt		Unamortized Debt Issuance Costs		Unamortized Original Issue Premium (Discount)		Long-Term Debt, Net		Weighted Average Interest Rate
2027 Notes	$	550.0	$	(2.5)	$	(2.2)	$	545.3	3.885%
2029 Notes	375.0		(2.3)		(0.9)		371.8		4.288%
2030 Notes	350.0		(2.3)		(0.7)		347.0		3.525%
2032 Notes	350.0		(3.1)		(0.8)		346.1		2.624%
2049 Notes	625.0		(6.1)		13.7		632.6		5.103%
2052 Notes	350.0		(3.8)		(0.5)		345.7		3.558%
Other	7.5		—		—		7.5		N/A
	$	2,607.5	$	(20.1)	$	8.6	2,596.0
Less — Current portion							(0.8)
Long-term debt							$	2,595.2

Senior Notes

The issuance, maturity and interest payment dates of the Company's senior unsecured 2027 Notes, 2029 Notes, 2030 Notes, 2032 Notes, 2049 Notes and 2052 Notes (collectively, the "Notes") are shown below:

Note	Issuance Date(s)	Maturity Date	Interest Payment Dates
2027 Notes	August 2017	September 15, 2027	March 15 and September 15
2029 Notes	May 2019	May 15, 2029	May 15 and November 15
2030 Notes	February 2020	May 30, 2030	May 30 and November 30
2032 Notes	November 2021	January 15, 2032	January 15 and July 15 (1)
2049 Notes	May 2019 and February 2020	May 15, 2049	May 15 and November 15
2052 Notes	November 2021	January 15, 2052	January 15 and July 15 (1)

(1) Commencing July 15, 2022.

Credit Agreement Interest Rate Ranges

As of April 2, 2022, the ranges and rates are as follows (in percentages):

	Eurocurrency Rate						Base Rate
					Rate as of						Rate as of
	Minimum		Maximum		April 2, 2022		Minimum		Maximum		April 2, 2022
Revolving Credit Facility	0.925	%	1.450	%	1.125	%	0.000	%	0.450	%	0.125	%