Debt (Tables)

3 Months Ended

Mar. 31, 2017

Debt Disclosure [Abstract]

Schedule of Notes Payable and Long-Term Debt

The Company's notes payable and long-term debt consisted of the following:

	Stated interest rate	Effective interest rate	March 31, 2017(1)		December 30, 2016(1)
			(in millions)
Senior secured notes:
$450 million notes, due December 2020	4.45%	4.53%	$	451	$	451
$300 million notes, due December 2040	5.95%	6.03%	216		216
Senior secured term loans:
$400 million Term Loan A, due August 2019	2.81%	3.73%	118		123
$690 million Term Loan A, due August 2021	2.81%	3.37%	668		676
$310 million Term Loan A, due August 2021	2.81%	3.35%	301		304
$1,131 million Term Loan B, due August 2023	3.06%	3.42%	1,107		1,110
Senior unsecured notes:
$250 million notes, due July 2032	7.13%	7.43%	246		246
$300 million notes, due July 2033	5.50%	5.88%	158		158
Capital leases due on various dates through fiscal 2020	0%-5.94%	Various	7		3
Total notes payable and long-term debt			3,272		3,287
Less: current portion			84		62
Total notes payable and long-term debt, net of current portion			$	3,188	$	3,225

⁽¹⁾  The carrying amounts of the senior secured term loans and notes and unsecured notes as of March 31, 2017, and December 30, 2016, include the remaining principal outstanding of $3,315 million and $3,336 million, respectively, plus $3 million for both periods related to the fair value of the interest rate swaps (see "Note 9–Derivative Instruments"), less unamortized debt discounts of $43 million and $46 million, respectively, less deferred debt issuance costs of $10 million and $9 million, respectively