Debt and Other Financing Arrangements (Tables)

9 Months Ended

Sep. 26, 2020

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

	Effective Interest Rate at September 26,		September 26,		December 31,
(Dollars in millions)	2020		2020		2019
Floating Rate 2-Year Senior Notes, Due 8/7/2020 (euro-denominated)			$	—	$	673
2.15% 7-Year Senior Notes, Due 7/21/2022 (euro-denominated)	2.28	%	582		561
3.00% 7-Year Senior Notes, Due 4/15/2023	1.73	%	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	%	1,163		1,121
0.125% 5.5-Year Senior Notes, Due 3/1/2025 (euro-denominated)	0.41	%	930		897
4.133% 5-Year Senior Notes, Due 3/25/2025	4.32	%	1,100		—
2.00% 10-Year Senior Notes, Due 4/15/2025 (euro-denominated)	2.10	%	744		717
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	%	814		785
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	%	582		561
1.75% 7-Year Senior Notes, Due 4/15/2027 (euro-denominated)	1.97	%	698		—
3.20% 10-Year Senior Notes, Due 8/15/2027	3.39	%	750		750
0.50% 8.5-Year Senior Notes, Due 3/1/2028 (euro-denominated)	0.78	%	930		897
1.375% 12-Year Senior Notes, Due 9/12/2028 (euro-denominated)	1.46	%	698		673
1.95% 12-Year Senior Notes, Due 7/24/2029 (euro-denominated)	2.08	%	814		785
2.60% 10-Year Senior Notes, Due 10/1/2029	2.74	%	900		900
4.497% 10-Year Senior Notes, Due 3/25/2030	5.31	%	1,100		—
0.875% 12-Year Senior Notes, Due 10/1/2031 (euro-denominated)	1.14	%	1,047		1,009
2.375% 12-Year Senior Notes, Due 4/15/2032 (euro-denominated)	2.55	%	698		—
2.875% 20-Year Senior Notes, Due 7/24/2037 (euro-denominated)	2.94	%	814		785
1.50% 20-Year Senior Notes, Due 10/1/2039 (euro-denominated)	1.73	%	1,047		1,009
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
1.875% 30-Year Senior Notes, Due 10/1/2049 (euro-denominated)	1.99	%	1,163		1,121
Other			8		16
Total Borrowings at Par Value			21,282		17,960
Fair Value Hedge Accounting Adjustments			30		(13)
Unamortized Discount, Net			(101)		(94)
Unamortized Debt Issuance Costs			(118)		(101)
Total Borrowings at Carrying Value			21,093		17,752
Less: Short-term Obligations and Current Maturities			2		676
Long-term Obligations			$	21,091	$	17,076

Schedule of Derivative Instruments [Table Text Block]

	Aggregate Notional Amount		Pay Rate as of
(Dollars in millions)		Pay Rate	September 26, 2020		Receive Rate
3.00% Senior Notes due 2023 (a)	1,000	1-month LIBOR + 1.7640%	1.9164	%	3.00	%

(a) The payments on $900 million 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 September 26, 2020 from 1.92% to a weighted average of 1.13%.