Debt and Other Financing Arrangements (Tables)

6 Months Ended

Jul. 01, 2017

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

	Effective Interest Rate at July 1,		July 1,			December 31,
(Dollars in millions)	2017		2017			2016
Commercial Paper	0.27	%	$	1,538.1		$	953.3
Term Loan			—			825.0
1.85% 5-Year Senior Notes, Due 1/15/2018			—			500.0
Floating Rate 2-Year Senior Notes, Due 8/9/2018 (euro-denominated)	0.12	%	685.6			631.0
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)	1.62	%	485.6			447.0
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	4.72	%	1,000.0			1,000.0
3.60% 10-Year Senior Notes, Due 8/15/2021	4.55	%	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	%	571.3			525.9
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	4.82	%	1,000.0			1,000.0
4.15% 10-Year Senior Notes, Due 2/1/2024	4.16	%	1,000.0			1,000.0
0.75% 8-Year Senior Notes, Due 9/12/2024 (euro-denominated)	0.94	%	1,142.6			1,051.7
2.00% 10-Year Senior Notes, Due 4/15/2025 (euro-denominated)	2.09	%	731.3			673.1
3.65% 10-Year Senior Notes, Due 12/15/2025	3.77	%	350.0			350.0
2.95% 10-Year Senior Notes, Due 9/19/2026	3.19	%	1,200.0			1,200.0
1.45% 10-Year Senior Notes, Due 3/16/2027 (euro-denominated)	1.66	%	571.3			—
1.375% 12-Year Senior Notes, 9/12/2028 (euro-denominated)	1.46	%	685.5			631.0
5.30% 30-Year Senior Notes, Due 2/1/2044	5.37	%	400.0			400.0
Other			12.0			13.0
Total Borrowings at Par Value			16,873.3			16,701.0
Fair Value Hedge Accounting Adjustments			(40.6		)	(49.3		)
Unamortized Premium, Net			34.0			52.2
Unamortized Debt Issuance Costs			(70.6		)	(76.0		)
Total Borrowings at Carrying Value			16,796.1			16,627.9
Less: Short-term Obligations and Current Maturities			1,540.4			1,255.5
Long-term Obligations			$	15,255.7		$	15,372.4

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 1, 2017:

	Aggregate Notional Amount		Pay Rate as of
(Dollars in millions)		Pay Rate	July 1, 2017		Receive Rate
4.50% Senior Notes due 2021	1,000.0	1-month LIBOR + 3.4420%	4.4925	%	4.50	%
3.60% Senior Notes due 2021	1,100.0	1-month LIBOR + 2.5150%	3.6739	%	3.60	%
3.00% Senior Notes due 2023	1,000.0	1-month LIBOR + 1.7640%	2.9229	%	3.00	%