Debt and Other Financing Arrangements (Tables)

6 Months Ended

Jun. 29, 2019

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

	Effective Interest Rate at June 29,		June 29,			December 31,
(Dollars in millions)	2019		2019			2018
Commercial Paper	—	%	$	737		$	693
Floating Rate 2-Year Senior Notes, Due 7/24/2019 (euro-denominated)	0.10	%	569			574
6.00% 10-Year Senior Notes, Due 3/1/2020	2.97	%	750			750
4.70% 10-Year Senior Notes, Due 5/1/2020	4.23	%	300			300
Floating Rate 2-Year Senior Notes, Due 8/7/2020 (euro-denominated)	0.17	%	682			688
1.50% 5-Year Senior Notes, Due 12/1/2020 (euro-denominated)	1.62	%	483			487
5.00% 10-Year Senior Notes, Due 1/15/2021	3.25	%	400			400
4.50% 10-Year Senior Notes, Due 3/1/2021	6.14	%	1,000			1,000
3.60% 10-Year Senior Notes, Due 8/15/2021	5.71	%	1,100			1,100
3.30% 7-Year Senior Notes, Due 2/15/2022	3.42	%	800			800
2.15% 7-Year Senior Notes, Due 7/21/2022 (euro-denominated)	2.28	%	569			574
3.15% 10-Year Senior Notes, Due 1/15/2023	3.30	%	800			800
3.00% 7-Year Senior Notes, Due 4/15/2023	5.81	%	1,000			1,000
4.15% 10-Year Senior Notes, Due 2/1/2024	4.16	%	1,000			1,000
0.75% 8-Year Senior Notes, Due 9/12/2024 (euro-denominated)	0.94	%	1,137			1,147
2.00% 10-Year Senior Notes, Due 4/15/2025 (euro-denominated)	2.10	%	728			734
3.65% 10-Year Senior Notes, Due 12/15/2025	3.77	%	350			350
1.40% 8.5-Year Senior Notes, Due 1/23/2026 (euro-denominated)	1.53	%	796			802
2.95% 10-Year Senior Notes, Due 9/19/2026	3.19	%	1,200			1,200
1.45% 10-Year Senior Notes, Due 3/16/2027 (euro-denominated)	1.66	%	569			574
3.20% 10-Year Senior Notes, Due 8/15/2027	3.39	%	750			750
1.375% 12-Year Senior Notes, Due 9/12/2028 (euro-denominated)	1.46	%	682			688
1.95% 12-Year Senior Notes, Due 7/24/2029 (euro-denominated)	2.08	%	796			802
2.875% 20-Year Senior Notes, Due 7/24/2037 (euro-denominated)	2.94	%	796			802
5.30% 30-Year Senior Notes, Due 2/1/2044	5.37	%	400			400
4.10% 30-Year Senior Notes, Due 8/15/2047	4.23	%	750			750
Other			20			21
Total Borrowings at Par Value			19,164			19,186
Fair Value Hedge Accounting Adjustments			(19		)	(93		)
Unamortized Discount, Net			(31		)	(21		)
Unamortized Debt Issuance Costs			(74		)	(82		)
Total Borrowings at Carrying Value			19,040			18,990
Less: Short-term Obligations and Current Maturities			2,377			1,271
Long-term Obligations			$	16,663		$	17,719

Schedule of Derivative Instruments [Table Text Block]

	Aggregate Notional Amount		Pay Rate as of
(Dollars in millions)		Pay Rate	June 29, 2019		Receive Rate
4.50% Senior Notes due 2021 (a)	1,000	1-month LIBOR + 3.4420%	5.8820	%	4.50	%
3.60% Senior Notes due 2021	1,100	1-month LIBOR + 2.5150%	4.9093	%	3.60	%
3.00% Senior Notes due 2023 (a)	1,000	1-month LIBOR + 1.7640%	4.1583	%	3.00	%

(a)

The payments on $1.8 billion notional value of these interest rate swaps are offset in part by cross-currency interest rate swaps which effectively reduced the pay rate as of June 29, 2019 from a weighted average of 4.86% to a weighted average of 1.86%.