Debt (Tables)

3 Months Ended

Apr. 03, 2020

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt is summarized below:

	April 3, 2020			January 3, 2020
	(In millions)
Variable-rate debt:
Floating rate notes, due April 30, 2020	$	250		$	250
Floating rate notes, due March 10, 2023	250			—
Total variable-rate debt	500			250
Fixed-rate debt:
4.95% notes, due February 15, 2021	650			650
3.85% notes, due June 15, 2023	800			800
3.95% notes, due May 28, 2024	350			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			550
6.35% debentures, due February 1, 2028	26			26
4.40% notes, due June 15, 2028	1,850			1,850
2.900% notes, due December 15, 2029	400			400
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	48			49
Total fixed-rate debt	6,574			6,575
Total debt	7,074			6,825
Plus: unamortized bond premium	145			154
Less: unamortized discounts and issuance costs	(29		)	(28		)
Total debt, net	7,190			6,951
Less: current portion of long-term debt, net	(896		)	(257		)
Total long-term debt, net	$	6,294		$	6,694

Schedule of Debt Exchange

	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