Borrowings (Tables)

12 Months Ended

Jan. 02, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The components of long-term debt are as follows:

(Dollars in Millions)	2021			Effective Rate %			2020			Effective Rate %
3.55% Notes due 2021	$	—		—	%		$	450		3.67	%
2.45% Notes due 2021	—			—			350			2.48
1.65% Notes due 2021	—			—			999			1.65
0.250% Notes due 2022 (1B Euro 1.1311)(2)/(1B Euro 1.2281)(3)	1,131		(2)	0.26			1,227		(3)	0.26
2.25% Notes due 2022	1,000			2.31			999			2.31
6.73% Debentures due 2023	250			6.73			250			6.73
3.375% Notes due 2023	802			3.18			803			3.17
2.05% Notes due 2023	499			2.09			499			2.09
0.650% Notes due 2024 (750MM Euro 1.1311)(2)/(750MM Euro 1.2281)(3)	847		(2)	0.68			919		(3)	0.68
5.50% Notes due 2024 (500MM 1.3485 GBP )(2)/(500MM GBP 1.3654)(3)	672		(2)	6.75			679		(3)	6.75
2.625% Notes due 2025	749			2.63			748			2.63
0.55% Notes due 2025	983			0.57			996			0.57
2.45% Notes due 2026	1,995			2.47			1,994			2.47
2.95% Notes due 2027	978			2.96			997			2.96
0.95% Notes due 2027	1,478			0.96			1,494			0.96
1.150% Notes due 2028 (750MM Euro 1.1311)(2)/(750MM Euro 1.2281)(3)	843		(2)	1.21			915		(3)	1.21
2.90% Notes due 2028	1,495			2.91			1,495			2.91
6.95% Notes due 2029	298			7.14			297			7.14
1.30% Notes due 2030	1,723			1.30			1,743			1.30
4.95% Debentures due 2033	498			4.95			498			4.95
4.375% Notes due 2033	854			4.24			855			4.24
1.650% Notes due 2035 (1.5B Euro 1.1311)(2)/(1.5B Euro 1.2281)(3)	1,683		(2)	1.68			1,827		(3)	1.68
3.55% Notes due 2036	974			3.59			989			3.59
5.95% Notes due 2037	993			5.99			992			5.99
3.625% Notes due 2037	1,475			3.64			1,488			3.64
5.85% Debentures due 2038	696			5.85			696			5.85
3.400% Notes due 2038	992			3.42			991			3.42
4.50% Debentures due 2040	540			4.63			539			4.63
2.10% Notes due 2040	974			2.14			986			2.14
4.85% Notes due 2041	297			4.89			297			4.89
4.50% Notes due 2043	496			4.52			496			4.52
3.70% Notes due 2046	1,975			3.74			1,974			3.74
3.75% Notes due 2047	971			3.76			991			3.76
3.500% Notes due 2048	743			3.52			742			3.52
2.250% Notes due 2050	983			2.29			984			2.29
2.450% Notes due 2060	1,222			2.49			1,228			2.49
Other	7			—			7			—
Subtotal	32,116		(4)	2.89	%	(1)	34,434		(4)	2.85	%	(1)
Less current portion	2,131						1,799
Total long-term debt	$	29,985					$	32,635

(1)Weighted average effective rate.

(2)Translation rate at January 2, 2022.

(3)Translation rate at January 3, 2021.

(4)The excess of the fair value over the carrying value of debt was $3.2 billion at the end of fiscal year 2021 and $5.4 billion at the end of fiscal year 2020.

Aggregate Maturities of Long Term Obligations

Aggregate maturities of long-term debt obligations commencing in 2022 are:

(Dollars in Millions)
2022	2023	2024	2025	2026	After 2026
$2,131	1,551	1,518	1,732	1,995	23,189