SHORT AND LONG-TERM DEBT (Tables)

9 Months Ended

Oct. 03, 2021

Debt Disclosure [Abstract]

Schedule of Short-term Debt

Short-term debt consisted of the following:

	October 3, 2021			December 31, 2020
Short-term foreign bank borrowings against lines of credit	$	65,398		$	74,041
U.S. commercial paper	344,976			—
Total short-term debt	$	410,374		$	74,041
Weighted average interest rate on outstanding commercial paper	0.1		%	N/A

Schedule of Long-term Debt Instruments

Long-term debt consisted of the following:

Debt Type and Rate	Maturity Date	October 3, 2021		December 31, 2020
8.800% Debentures (1)	February 15, 2021	$	—	$	84,715
3.100% Notes (2)	May 15, 2021	—		350,000
2.625% Notes	May 1, 2023	250,000		250,000
3.375% Notes	May 15, 2023	500,000		500,000
2.050% Notes	November 15, 2024	300,000		300,000
0.900% Notes	June 1, 2025	300,000		300,000
3.200% Notes	August 21, 2025	300,000		300,000
2.300% Notes	August 15, 2026	500,000		500,000
7.200% Debentures	August 15, 2027	193,639		193,639
2.450% Notes	November 15, 2029	300,000		300,000
1.700% Notes	June 1, 2030	350,000		350,000
3.375% Notes	August 15, 2046	300,000		300,000
3.125% Notes	November 15, 2049	400,000		400,000
2.650% Notes	June 1, 2050	350,000		350,000
Finance lease obligations (see Note 7)		78,246		80,755
Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts		(23,914)		(30,525)
Total long-term debt		4,097,971		4,528,584
Less—current portion		2,812		438,829
Long-term portion		$	4,095,159	$	4,089,755

(1)In February 2021, we repaid $84,715 of 8.800% Debentures due upon their maturity.

(2)In May 2021, we repaid $350,000 of 3.100% Notes due upon their maturity.

Schedule of Net Interest Expense

Net interest expense consists of the following:

	Three Months Ended				Nine Months Ended
	October 3, 2021		September 27, 2020		October 3, 2021		September 27, 2020
Interest expense	$	33,066	$	39,720	$	106,597	$	119,496
Capitalized interest	(2,380)		(1,664)		(7,181)		(4,745)
Interest expense	30,686		38,056		99,416		114,751
Interest income	(532)		(798)		(1,761)		(3,159)
Interest expense, net	$	30,154	$	37,258	$	97,655	$	111,592