Debt (Tables)

3 Months Ended

Apr. 04, 2021

Debt Disclosure [Abstract]

Schedule of Debt Obligations

Summary of Term Debt Obligations

In millions	April 4, 2021
Principal amount of 2031 Term Notes outstanding	$	500
Principal amount of 2023 Term Notes outstanding	500
Unamortized discounts and debt issuance costs	(8)
Net carrying amount of term notes	992
Less: current portion	—
Term notes, non-current	$	992

Summary of Convertible Debt Obligations

In millions	April 4, 2021		January 3, 2021
Principal amount of 2023 Convertible Senior Notes outstanding	$	750	$	750
Principal amount of 2021 Convertible Senior Notes outstanding	491		517
Unamortized discount of liability component of convertible senior notes	(73)		(83)
Net carrying amount of liability component of convertible senior notes	1,168		1,184
Less: current portion	(488)		(511)
Convertible senior notes, non-current	$	680	$	673
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)	$	1,629	$	1,595
Weighted-average remaining amortization period of discount on the liability component of convertible senior notes	2.3 years		2.4 years

Schedule of Debt Conversions

The following table summarizes information about the conversions during Q1 2021:

In millions	2021 Notes
Cash paid for principal of notes converted	$	27
Conversion value over principal amount, paid in shares of common stock	$	17
Number of shares of common stock issued upon conversion	0.04