Debt and Other Commitments (Tables)

12 Months Ended

Jan. 03, 2021

Debt Disclosure [Abstract]

Schedule of Debt Obligations

Summary of debt obligations

In millions	January 3, 2021		December 29, 2019
Principal amount of 2023 Notes outstanding	$	750	$	750
Principal amount of 2021 Notes outstanding	517		517
Unamortized discount of liability component of convertible senior notes	(83)		(126)
Net carrying amount of liability component of convertible senior notes	1,184		1,141
Less: current portion	(511)		—
Long-term debt	$	673	$	1,141
Carrying value of equity component of convertible senior notes, net of debt issuance costs	$	213	$	213
Fair value of convertible senior notes outstanding (Level 2)	$	1,595	$	1,549
Weighted average remaining amortization period of discount on the liability component of convertible senior notes	2.4 years		3.2 years

Schedule of Debt Conversions

The following table summarizes information about the conversion of the 2019 Notes during 2019:

In millions
Cash paid for principal of notes converted	$	633
Conversion value over principal amount, paid in shares of common stock	$	153
Number of shares of common stock issued upon conversion	0.4

Schedule of Leases

As of January 3, 2021, the maturities of our operating lease liabilities were as follows:

In millions
2021	$	82
2022	85
2023	92
2024	91
2025	86
Thereafter	488
Total remaining lease payments (1)	924
Less: imputed interest	(202)
Total operating lease liabilities	722
Less: current portion	(51)
Long-term operating lease liabilities	$	671
Weighted-average remaining lease term	10.5 years
Weighted-average discount rate	4.5		%

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(1) Total remaining lease payments exclude $18 million of legally binding minimum lease payments for leases signed but not yet commenced.

Schedule of Components of Lease Costs

The components of our lease costs were as follows:

In millions	2020		2019
Operating lease costs	$	84	$	84
Sublease income	(11)		(12)
Total lease costs	$	73	$	72