SHORT AND LONG-TERM DEBT (Tables)

9 Months Ended

Sep. 29, 2024

Debt Disclosure [Abstract]

Schedule of Short-term Debt

Short-term debt consisted of the following:

	September 29, 2024			December 31, 2023
Short-term foreign bank borrowings against lines of credit	$	200,276		$	192,278
U.S. commercial paper	996,127			527,561
Total short-term debt	$	1,196,403		$	719,839
Weighted average interest rate on outstanding commercial paper	5.1		%	5.4		%

Schedule of Long-term Debt Instruments

Long-term debt consisted of the following:

Debt Type and Rate	Maturity Date	September 29, 2024		December 31, 2023
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
4.250% Notes	May 4, 2028	350,000		350,000
2.450% Notes	November 15, 2029	300,000		300,000
1.700% Notes	June 1, 2030	350,000		350,000
4.500% Notes	May 4, 2033	400,000		400,000
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)		73,390		76,385
Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts		(23,131)		(25,834)
Total long-term debt		4,093,898		4,094,190
Less—current portion		904,819		305,058
Long-term portion		$	3,189,079	$	3,789,132

Schedule of Net Interest Expense

Net interest expense consists of the following:

	Three Months Ended				Nine Months Ended
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
Interest expense	$	51,906	$	45,776	$	148,099	$	132,175
Capitalized interest	(5,343)		(3,932)		(15,620)		(10,720)
Interest expense	46,563		41,844		132,479		121,455
Interest income	(2,247)		(2,089)		(6,968)		(7,354)
Interest expense, net	$	44,316	$	39,755	$	125,511	$	114,101