Long-Term Debt (Tables)

3 Months Ended

Apr. 03, 2021

Debt Disclosure [Abstract]

Summary of Carrying Value of Long-term Debt

The following table shows the carrying value of the Company’s debt (in millions):

	April 3, 2021		December 31, 2020
Term Loan A	$	888	$	917
2020 Term Loan	—		100
Receivables Financing Facilities	208		235
Total debt	$	1,096	$	1,252
Less: Debt issuance costs	(4)		(5)
Less: Unamortized discounts	(2)		(2)
Less: Current portion of debt	(134)		(364)
Total long-term debt	$	956	$	881

Schedule of Future Maturities of Long-term Debt

As of April 3, 2021, the future maturities of debt, excluding debt discounts and issuance costs, are as follows (in millions):

2021	$	122
2022	56
2023	81
2024	837
Total future debt maturities	$	1,096