Borrowings (Tables)

12 Months Ended

Dec. 28, 2014

Borrowings [Abstract]

Schedule of Long-term Debt Instruments

The components of long-term debt are as follows:

(Dollars in Millions)	2014			Effective Rate %			2013		Effective Rate %
3 month LIBOR+0.09% FRN due 2014	$	—		—	%		750		0.33
1.20% Notes due 2014	—			—			999		1.24
2.15% Notes due 2016	898			2.22			898		2.22
3 month LIBOR+0.07% FRN due 2016	800			0.31			800		0.31
0.70% Notes due 2016	398			0.74			397		0.74
5.55% Debentures due 2017	1,000			5.55			1,000		5.55
1.125% Notes due 2017	697			1.15			—		—
5.15% Debentures due 2018	898			5.15			898		5.15
1.65% Notes due 2018	597			1.70			589		1.70
4.75% Notes due 2019 (1B Euro 1.2199)(2)/ (1B Euro 1.3683)(3)	1,216		(2)	5.83			1,363	(3)	5.83
1.875% Notes due 2019	497			1.93			—		—
3% Zero Coupon Convertible Subordinated Debentures due 2020	158			3.00			179		3.00
2.95% Debentures due 2020	543			3.15			542		3.15
3.55% Notes due 2021	446			3.67			446		3.67
2.45% Notes due 2021	349			2.48			—		—
6.73% Debentures due 2023	250			6.73			250		6.73
3.375% Notes due 2023	812		(5)	3.17			550		3.38
5.50% Notes due 2024 (500MM GBP 1.5542)(2)/(500MM GBP 1.6414)(3)	772		(2)	6.75			816	(3)	6.75
6.95% Notes due 2029	297			7.14			296		7.14
4.95% Debentures due 2033	500			4.95			500		4.95
4.375% Notes due 2033	865		(5)	4.23			646		4.42
5.95% Notes due 2037	995			5.99			995		5.99
5.85% Debentures due 2038	700			5.86			700		5.86
4.50% Debentures due 2040	539			4.63			539		4.63
4.85% Notes due 2041	298			4.89			298		4.89
4.50% Notes due 2043	499			4.52			499		4.52
Other	105			—			147		—
Subtotal	15,129		(4)	4.08	%	(1)	15,097	(4)	4.00	(1	)
Less current portion	7						1,769
Total long-term debt	$	15,122					13,328

⁽¹⁾  Weighted average effective rate.

⁽²⁾  Translation rate at December 28, 2014.

⁽³⁾  Translation rate at December 29, 2013.

⁽⁴⁾  The excess of the fair value over the carrying value of debt was $2.2 billion in 2014 and $1.4 billion in 2013.

⁽⁵⁾  Includes the reopening of these issues.

Aggregate maturities of long term obligations

Aggregate maturities of long-term obligations commencing in 2015 are:

(Dollars in Millions)
2015	2016	2017	2018	2019	After 2019
$7	2,152	1,722	1,496	1,713	8,039