Debt (Tables)

3 Months Ended

Sep. 27, 2019

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt is summarized below:

	September 27, 2019			June 28, 2019
	(In millions)
Variable-rate debt:
Floating rate notes, due April 30, 2020	$	250		$	250
Total variable-rate debt	250			250
Fixed-rate debt:
2.7% notes, due April 27, 2020	400			400
4.95% notes, due February 15, 2021	650			—
3.85% notes, due June 15, 2023	800			—
3.95% notes, due May 28, 2024	350			—
3.832% notes, due April 27, 2025	600			600
7.0% debentures, due January 15, 2026	100			100
3.85% notes, due December 15, 2026	550			—
6.35% debentures, due February 1, 2028	26			26
4.40% notes, due June 15, 2028	1,850			850
4.854% notes, due April 27, 2035	400			400
6.15% notes, due December 15, 2040	300			300
5.054% notes, due April 27, 2045	500			500
Other	50			17
Total fixed-rate debt	6,576			3,193
Total debt	6,826			3,443
Plus: unamortized bond premium	163			—
Less: unamortized discounts and issuance costs	(26		)	(24		)
Total debt, net	6,963			3,419
Less: current portion of long-term debt, net	(656		)	(656		)
Total long-term debt, net	$	6,307		$	2,763

Schedule of Debt Exchange

In connection with the L3Harris Merger, on July 2, 2019 we settled our previously announced debt exchange offers in which eligible holders of L3 senior notes (“L3 Notes”) could exchange such outstanding notes for (1) up to $3.35 billion aggregate principal amount of new notes issued by L3Harris (“New L3Harris Notes”) and (2) one dollar in cash for each $1,000 of principal amount. Each series of the New L3Harris Notes issued has an interest rate and maturity date that is identical to the L3 Notes.

	Aggregate Principal Amount of L3 Notes (prior to debt exchange)		Aggregate Principal Amount of New L3Harris Notes Issued		Aggregate Principal Amount of Remaining L3 Notes
	(In millions)
4.95% notes due February 15, 2021 (“4.95% 2021 Notes”)	$	650	$	501	$	149
3.85% notes due June 15, 2023 (“3.85% 2023 Notes”)	800		741		59
3.95% notes due May 28, 2024 (“3.95% 2024 Notes”)	350		326		24
3.85% notes due December 15, 2026 (“3.85% 2026 Notes”)	550		535		15
4.40% notes due June 15, 2028 (“4.40% 2028 Notes”)	1,000		918		82
Total	$	3,350	$	3,021	$	329