Debt (Tables)

3 Months Ended

Apr. 03, 2020

Debt Disclosure [Abstract]

Schedule of notes payable and long-term debt

Our debt consisted of the following:

	Stated interest rate	Effective interest rate	April 3, 2020(1)		January 3, 2020(1)
			(in millions)
Senior unsecured bridge loan:
$1,250 million bridge loan, due January 2021	2.37%	4.00%	$	1,238	$	—
Senior unsecured term loan:
$1,925 million Term Loan A, due January 2025	2.37%	2.64%	1,906		—
Senior secured term loans:
$690 million Term Loan A, due August 2023	3.31%	3.74%	—		581
$310 million Term Loan A, due August 2023	3.31%	3.76%	—		242
$1,131 million Term Loan B, due August 2025	3.56%	3.91%	—		1,075
Senior unsecured notes:
$450 million notes, due December 2020	4.45%	4.53%	454		452
$300 million notes, due December 2040	5.95%	6.03%	216		216
$250 million notes, due July 2032	7.13%	7.43%	247		247
$300 million notes, due July 2033	5.50%	5.88%	158		158
Notes payable and finance leases due on various dates through fiscal 2030	2.85%-5.49%	Various	18		15
Total long-term debt			4,237		2,986
Less: current portion			(1,793)		(61)
Total long-term debt, net of current portion			$	2,444	$	2,925

⁽¹⁾ The carrying amounts of the senior term loans, notes and bridge loan as of April 3, 2020, and January 3, 2020, include the remaining principal outstanding of $4,254 million and $3,004 million, respectively, less total unamortized debt discounts and deferred debt issuances costs of $39 million and $35 million, respectively, and a $4 million and $2 million asset, respectively, related to the fair value interest rate swaps (see "Note 8–Derivative Instruments").