Financing (Tables)

9 Months Ended

Oct. 02, 2020

The components of the Company’s debt were as follows ($ in millions):


	October 2, 2020		December 31, 2019
Euro-denominated commercial paper (€1.6 billion and €4.6 billion, respectively)	$	1,860.8	$	5,146.2


Zero-coupon LYONs due 2021	26.2		33.6
0.352% senior unsecured notes due 2021 (¥30.0 billion aggregate principal amount) (the “2021 Yen Notes”)	284.6		275.8
1.7% senior unsecured notes due 2022 (€800 million aggregate principal amount) (the “2022 Euronotes”)	935.5		894.8
Floating rate senior unsecured notes due 2022 (€250.0 million aggregate principal amount) (the “Floating Rate 2022 Euronotes”)	292.4		279.8
2.05% senior notes due 2022 (the “2022 Biopharma Notes”)	697.8		696.9
0.5% senior unsecured bonds due 2023 (CHF 540.0 million aggregate principal amount) (the “2023 CHF Bonds”)	587.3		558.9
1.7% senior unsecured notes due 2024 (€900.0 million aggregate principal amount) (the “2024 Euronotes”)	1,049.4		—

2.2% senior unsecured notes due 2024 (the “2024 Biopharma Notes”)	696.6		696.2
2.5% senior unsecured notes due 2025 (€800.0 million aggregate principal amount) (the “2025 Euronotes”)	934.0		893.7
3.35% senior unsecured notes due 2025 (the “2025 U.S. Notes”)	497.6		497.3
0.2% senior unsecured notes due 2026 (€1.3 billion aggregate principal amount) (the “2026 Biopharma Euronotes”)	1,455.5		1,392.3
2.1% senior unsecured notes due 2026 (€800.0 million aggregate principal amount) (the “2026 Euronotes”)	933.3		—
0.3% senior unsecured notes due 2027 (¥30.8 billion aggregate principal amount) (the “2027 Yen Notes”)	291.4		282.5
1.2% senior unsecured notes due 2027 (€600.0 million aggregate principal amount) (the “2027 Euronotes”)	698.4		668.0
0.45% senior unsecured notes due 2028 (€1.3 billion aggregate principal amount) (the “2028 Biopharma Euronotes”)	1,453.6		1,390.1
1.125% senior unsecured bonds due 2028 (CHF 210.0 million aggregate principal amount) (the “2028 CHF Bonds”)	231.8		221.0
2.6% senior unsecured notes due 2029 (the “2029 Biopharma Notes”)	794.6		794.8
2.5% senior unsecured notes due 2030 (€800.0 million aggregate principal amount) (the “2030 Euronotes”)	936.8		—
0.75% senior unsecured notes due 2031 (€1.8 billion aggregate principal amount) (the “2031 Biopharma Euronotes”)	2,037.0		1,948.7
0.65% senior unsecured notes due 2032 (¥53.2 billion aggregate principal amount) (the “2032 Yen Notes”)	503.1		487.8
1.35% senior unsecured notes due 2039 (€1.3 billion aggregate principal amount) (the “2039 Biopharma Euronotes”)	1,446.6		1,383.6
3.25% senior unsecured notes due 2029 (the “2039 Biopharma Notes”)	889.2		890.3
4.375% senior unsecured notes due 2045 (the “2045 U.S. Notes”)	499.4		499.4
1.8% senior unsecured notes due 2049 (€750.0 million aggregate principal amount) (the “2049 Biopharma Euronotes”)	868.6		830.9
3.4% senior unsecured notes due 2049 (the “2049 Biopharma Notes”)	888.6		890.2
Other	35.7		76.3
Total debt	21,825.8		21,729.1
Less: currently payable	19.7		212.4
Long-term debt	$	21,806.1	$	21,516.7

The following summarizes the key terms of the offerings in aggregate (€ in millions):


	Issue Date	Aggregate Principal Amount		Stated Annual Interest Rate		Issue Price (as % of Principal Amount)		Maturity Date	Interest Payment Dates (in arrears)
2024 Euronotes	March 30, 2020	€	750.0	1.700	%	99.931	%	March 30, 2024	March 30
2024 Euronotes	April 8, 2020	€	150.0	1.700	%	100.298	%	March 30, 2024	March 30
2026 Euronotes	March 30, 2020	€	500.0	2.100	%	99.717	%	September 30, 2026	September 30
2026 Euronotes	April 8, 2020	€	300.0	2.100	%	100.842	%	September 30, 2026	September 30
2030 Euronotes	March 30, 2020	€	500.0	2.500	%	99.642	%	March 30, 2030	March 30
2030 Euronotes	April 8, 2020	€	300.0	2.500	%	102.166	%	March 30, 2030	March 30

Key Terms of Euronotes Offering

The components of the Company’s debt were as follows ($ in millions):


	October 2, 2020		December 31, 2019
Euro-denominated commercial paper (€1.6 billion and €4.6 billion, respectively)	$	1,860.8	$	5,146.2


Zero-coupon LYONs due 2021	26.2		33.6
0.352% senior unsecured notes due 2021 (¥30.0 billion aggregate principal amount) (the “2021 Yen Notes”)	284.6		275.8
1.7% senior unsecured notes due 2022 (€800 million aggregate principal amount) (the “2022 Euronotes”)	935.5		894.8
Floating rate senior unsecured notes due 2022 (€250.0 million aggregate principal amount) (the “Floating Rate 2022 Euronotes”)	292.4		279.8
2.05% senior notes due 2022 (the “2022 Biopharma Notes”)	697.8		696.9
0.5% senior unsecured bonds due 2023 (CHF 540.0 million aggregate principal amount) (the “2023 CHF Bonds”)	587.3		558.9
1.7% senior unsecured notes due 2024 (€900.0 million aggregate principal amount) (the “2024 Euronotes”)	1,049.4		—

2.2% senior unsecured notes due 2024 (the “2024 Biopharma Notes”)	696.6		696.2
2.5% senior unsecured notes due 2025 (€800.0 million aggregate principal amount) (the “2025 Euronotes”)	934.0		893.7
3.35% senior unsecured notes due 2025 (the “2025 U.S. Notes”)	497.6		497.3
0.2% senior unsecured notes due 2026 (€1.3 billion aggregate principal amount) (the “2026 Biopharma Euronotes”)	1,455.5		1,392.3
2.1% senior unsecured notes due 2026 (€800.0 million aggregate principal amount) (the “2026 Euronotes”)	933.3		—
0.3% senior unsecured notes due 2027 (¥30.8 billion aggregate principal amount) (the “2027 Yen Notes”)	291.4		282.5
1.2% senior unsecured notes due 2027 (€600.0 million aggregate principal amount) (the “2027 Euronotes”)	698.4		668.0
0.45% senior unsecured notes due 2028 (€1.3 billion aggregate principal amount) (the “2028 Biopharma Euronotes”)	1,453.6		1,390.1
1.125% senior unsecured bonds due 2028 (CHF 210.0 million aggregate principal amount) (the “2028 CHF Bonds”)	231.8		221.0
2.6% senior unsecured notes due 2029 (the “2029 Biopharma Notes”)	794.6		794.8
2.5% senior unsecured notes due 2030 (€800.0 million aggregate principal amount) (the “2030 Euronotes”)	936.8		—
0.75% senior unsecured notes due 2031 (€1.8 billion aggregate principal amount) (the “2031 Biopharma Euronotes”)	2,037.0		1,948.7
0.65% senior unsecured notes due 2032 (¥53.2 billion aggregate principal amount) (the “2032 Yen Notes”)	503.1		487.8
1.35% senior unsecured notes due 2039 (€1.3 billion aggregate principal amount) (the “2039 Biopharma Euronotes”)	1,446.6		1,383.6
3.25% senior unsecured notes due 2029 (the “2039 Biopharma Notes”)	889.2		890.3
4.375% senior unsecured notes due 2045 (the “2045 U.S. Notes”)	499.4		499.4
1.8% senior unsecured notes due 2049 (€750.0 million aggregate principal amount) (the “2049 Biopharma Euronotes”)	868.6		830.9
3.4% senior unsecured notes due 2049 (the “2049 Biopharma Notes”)	888.6		890.2
Other	35.7		76.3
Total debt	21,825.8		21,729.1
Less: currently payable	19.7		212.4
Long-term debt	$	21,806.1	$	21,516.7

The following summarizes the key terms of the offerings in aggregate (€ in millions):


	Issue Date	Aggregate Principal Amount		Stated Annual Interest Rate		Issue Price (as % of Principal Amount)		Maturity Date	Interest Payment Dates (in arrears)
2024 Euronotes	March 30, 2020	€	750.0	1.700	%	99.931	%	March 30, 2024	March 30
2024 Euronotes	April 8, 2020	€	150.0	1.700	%	100.298	%	March 30, 2024	March 30
2026 Euronotes	March 30, 2020	€	500.0	2.100	%	99.717	%	September 30, 2026	September 30
2026 Euronotes	April 8, 2020	€	300.0	2.100	%	100.842	%	September 30, 2026	September 30
2030 Euronotes	March 30, 2020	€	500.0	2.500	%	99.642	%	March 30, 2030	March 30
2030 Euronotes	April 8, 2020	€	300.0	2.500	%	102.166	%	March 30, 2030	March 30

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details