Debt and Other Financing Arrangements (Tables)

6 Months Ended

Jul. 02, 2016

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

	Effective Interest Rate at July 2,		July 2,			December 31,
(Dollars in millions)	2016		2016			2015
Commercial Paper	1.54	%	$	989.4		$	49.6
Term Loan	1.56	%	625.0			—
2.25% 5-Year Senior Notes, Due 8/15/2016			—			1,000.0
1.30% 3-Year Senior Notes, Due 2/1/2017	1.21	%	900.0			900.0
1.85% 5-Year Senior Notes, Due 1/15/2018	2.01	%	500.0			500.0
2.15% 3-Year Senior Notes, Due 12/14/2018	2.35	%	450.0			450.0
2.40% 5-Year Senior Notes, Due 2/1/2019	2.59	%	900.0			900.0
6.00% 10-Year Senior Notes, Due 3/1/2020	2.97	%	750.0			750.0
4.70% 10-Year Senior Notes, Due 5/1/2020	4.23	%	300.0			300.0
1.50% 5-Year Senior Notes, Due 12/1/2020 (euro-denominated)	1.61	%	473.3			461.6
5.00% 10-Year Senior Notes, Due 1/15/2021	3.24	%	400.0			400.0
4.50% 10-Year Senior Notes, Due 3/1/2021	3.26	%	1,000.0			1,000.0
3.60% 10-Year Senior Notes, Due 8/15/2021	2.92	%	1,100.0			1,100.0
3.30% 7-Year Senior Notes, Due 2/15/2022	3.43	%	800.0			800.0
2.15% 7-Year Senior Notes, Due 7/21/2022 (euro-denominated)	2.28	%	556.8			543.1
3.15% 10-Year Senior Notes, Due 1/15/2023	3.31	%	800.0			800.0
3.00% 7-Year Senior Notes Due 4/15/2023	3.04	%	1,000.0			—
4.15% 10-Year Senior Notes, Due 2/1/2024	4.16	%	1,000.0			1,000.0
2.00% 10-Year Senior Notes, Due 4/15/2025 (euro-denominated)	2.09	%	712.7			695.2
3.65% 10-Year Senior Notes, Due 12/15/2025	3.77	%	350.0			350.0
5.30% 30-Year Senior Notes, Due 2/1/2044	5.37	%	400.0			400.0
Other			14.2			16.3
Total Borrowings at Par Value			14,021.4			12,415.8
Fair Value Hedge Accounting Adjustments			95.5			6.2
Unamortized Premium, Net			88.3			104.7
Unamortized Debt Issuance Costs (Note 1)			(57.4		)	(54.7		)
Total Borrowings at Carrying Value			14,147.8			12,472.0
Less: Short-term Obligations and Current Maturities			2,515.9			1,051.8
Long-term Obligations			$	11,631.9		$	11,420.2

Schedule of Derivative Instruments [Table Text Block]

The following table summarizes the outstanding interest rate swap arrangements on the company's senior notes at July 2, 2016:

	Aggregate Notional Amount			Pay Rate as of
(Dollars in millions)			Pay Rate	July 2, 2016		Receive Rate
1.30% Senior Notes due 2017	$	900.0	1-month LIBOR + 0.6616%	1.1282	%	1.30	%
4.50% Senior Notes due 2021	1,000.0		1-month LIBOR + 3.4420%	3.9086	%	4.50	%
3.60% Senior Notes due 2021	1,100.0		1-month LIBOR + 2.5150%	2.9571	%	3.60	%
3.00% Senior Notes due 2023	1,000.0		1-month LIBOR + 1.7640%	2.2061	%	3.00	%