Debt and Other Financing Arrangements (Tables)

6 Months Ended

Jul. 01, 2023

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

	Effective interest rate at July 1,		July 1,		December 31,
(Dollars in millions)	2023		2023		2022
Commercial Paper	5.59	%	$	500	$	310
Floating Rate (SOFR + 0.35%) 1.5-Year Senior Notes, Due 4/18/2023			—		1,000
Floating Rate (SOFR + 0.39%) 2-Year Senior Notes, Due 10/18/2023			500		500
0.797% 2-Year Senior Notes, Due 10/18/2023	1.03	%	1,350		1,350
Floating Rate (EURIBOR + 0.20%) 2-Year Senior Notes, Due 11/18/2023 (euro-denominated)	3.41	%	1,854		1,819
0.000% 2-Year Senior Notes, Due 11/18/2023 (euro-denominated)	0.06	%	600		589
0.75% 8-Year Senior Notes, Due 9/12/2024 (euro-denominated)	0.93	%	1,091		1,071
Floating Rate (SOFR + 0.53%) 3-Year Senior Notes, Due 10/18/2024			500		500
1.215% 3-Year Senior Notes, Due 10/18/2024	1.42	%	2,500		2,500
0.125% 5.5-Year Senior Notes, Due 3/1/2025 (euro-denominated)	0.41	%	873		857
2.00% 10-Year Senior Notes, Due 4/15/2025 (euro-denominated)	2.10	%	698		686
0.853% 3-Year Senior Notes, Due 10/20/2025 (yen-denominated)	1.05	%	155		170
0.000% 4-Year Senior Notes, Due 11/18/2025 (euro-denominated)	0.15	%	600		589
3.20% 3-Year Senior Notes, Due 1/21/2026 (euro-denominated)	3.39	%	545		535
1.40% 8.5-Year Senior Notes, Due 1/23/2026 (euro-denominated)	1.53	%	764		749
1.45% 10-Year Senior Notes, Due 3/16/2027 (euro-denominated)	1.65	%	545		535
1.75% 7-Year Senior Notes, Due 4/15/2027 (euro-denominated)	1.96	%	654		642
1.054% 5-Year Senior Notes, Due 10/20/2027 (yen-denominated)	1.18	%	200		221
4.80% 5-Year Senior Notes, Due 11/21/2027	5.00	%	600		600
0.50% 8.5-Year Senior Notes, Due 3/1/2028 (euro-denominated)	0.77	%	873		857
1.375% 12-Year Senior Notes, Due 9/12/2028 (euro-denominated)	1.46	%	654		642
1.75% 7-Year Senior Notes, Due 10/15/2028	1.89	%	700		700
1.95% 12-Year Senior Notes, Due 7/24/2029 (euro-denominated)	2.08	%	764		749
2.60% 10-Year Senior Notes, Due 10/1/2029	2.74	%	900		900
1.279% 7-Year Senior Notes, Due 10/19/2029 (yen-denominated)	1.44	%	33		36
0.80% 9-Year Senior Notes, Due 10/18/2030 (euro-denominated)	0.88	%	1,909		1,873
0.875% 12-Year Senior Notes, Due 10/1/2031 (euro-denominated)	1.13	%	982		963
2.00% 10-Year Senior Notes, Due 10/15/2031	2.23	%	1,200		1,200
2.375% 12-Year Senior Notes, Due 4/15/2032 (euro-denominated)	2.55	%	654		642
1.49% 10-Year Senior Notes, Due 10/20/2032 (yen-denominated)	1.60	%	44		48
4.95% 10-Year Senior Notes, Due 11/21/2032	5.09	%	600		600
1.125% 12-Year Senior Notes, Due 10/18/2033 (euro-denominated)	1.20	%	1,636		1,606
3.65% 12-Year Senior Notes, Due 11/21/2034 (euro-denominated)	3.76	%	818		803
2.875% 20-Year Senior Notes, Due 7/24/2037 (euro-denominated)	2.94	%	764		749
1.50% 20-Year Senior Notes, Due 10/1/2039 (euro-denominated)	1.73	%	982		963
2.80% 20-Year Senior Notes, Due 10/15/2041	2.90	%	1,200		1,200
1.625% 20-Year Senior Notes, Due 10/18/2041 (euro-denominated)	1.77	%	1,364		1,339
2.069% 20-Year Senior Notes, Due 10/20/2042 (yen-denominated)	2.13	%	101		111
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)	1.98	%	1,091		1,071

	Effective interest rate at July 1,		July 1,		December 31,
(Dollars in millions)	2023		2023		2022
2.00% 30-Year Senior Notes, Due 10/18/2051 (euro-denominated)	2.07	%	818		803
2.382% 30-Year Senior Notes, Due 10/18/2052 (yen-denominated)	2.43	%	231		254
Other			76		79
Total borrowings at par value			34,073		34,561
Unamortized discount			(112)		(112)
Unamortized debt issuance costs			(155)		(171)
Total borrowings at carrying value			33,806		34,278
Finance lease liabilities			202		210
Less: Short-term obligations and current maturities			4,814		5,579
Long-term obligations			$	29,194	$	28,909

SOFR - Secured Overnight Financing Rate

EURIBOR - Euro Interbank Offered Rate