Long-Term Debt (Tables)

6 Months Ended

Jul. 01, 2023

Debt Disclosure [Abstract]

Schedule of Carrying Value of Long-term Debt

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

	July 1, 2023		December 31, 2022
Term Loan A	$	1,684	$	1,728
Revolving Credit Facility	388		50
Receivables Financing Facilities	144		254
Total debt	$	2,216	$	2,032
Less: Debt issuance costs	(4)		(4)
Less: Unamortized discounts	(4)		(5)
Less: Current portion of debt	(166)		(214)
Total long-term debt	$	2,042	$	1,809

Schedule of Future Maturities of Long-term Debt

As of July 1, 2023, the future maturities of debt are as follows (in millions):

2023 (6 months remaining)	$	—
2024	188
2025	66
2026	88
2027	1,874
Total future maturities of debt	$	2,216