DEBT AND CREDIT ARRANGEMENTS (Tables)

3 Months Ended

Mar. 28, 2025

Debt Disclosure [Abstract]

Schedule of Long-term Debt, Net

Long-term debt, net is summarized below:

(In millions)	March 28, 2025		January 3, 2025
Total fixed-rate debt(1)	$	11,476	$	11,476
Financing lease obligations and other debt	283		288
Long-term debt, including the current portion of long-term debt	11,759		11,764
Plus: unamortized bond premium	35		38
Less: unamortized discounts and issuance costs	(77)		(81)
Long-term debt, including the current portion of long-term debt, net	11,717		11,721
Less: current portion of long-term debt, net(2)	(740)		(640)
Total long-term debt, net	$	10,977	$	11,081

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(1)See Note 8: Debt and Credit Arrangements in our Fiscal 2024 Form 10-K for information on fixed-rate debt.

(2)As of March 28, 2025, includes the $600 million 3.832% notes, due April 27, 2025 (“3.832% 2025 Notes”) and the $100 million 7.00% debentures, due January 15, 2026. As of January 3, 2025, includes the 3.832% 2025 Notes.