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Subsequent Events
9 Months Ended
Oct. 02, 2020
Subsequent Events [Abstract]  
Subsequent Events SUBSEQUENT EVENTS
On October 6, 2020, the Company completed the underwritten public offering of $1.0 billion aggregate principal amount of 2.6% senior unsecured notes due 2050. The Company received net proceeds from the notes, after underwriting discounts and commissions and offering expenses, of $980 million. Proceeds from this offering will be used for general corporate purposes, including the redemption of the 2022 Euronotes.
On October 6, 2020, the Company notified the holders of the 2022 Euronotes that it has called for redemption all of the €800 million aggregate principal amount of such notes at a redemption price equal to the outstanding principal amount and a make-whole premium as specified in the applicable indenture, plus accrued and unpaid interest. The Company intends to redeem the 2022 Euronotes on November 5, 2020. The make-whole premiums required in connection with the redemption will be approximately €21 million (approximately $19 million after-tax based on the exchange rates as of October 2, 2020 or $0.03 per diluted common share). The payment of the make-whole premiums will be reflected as a loss on early extinguishment of borrowings in the Company’s fourth quarter of 2020, as the extinguishment will occur in the fourth quarter.