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NOTES PAYABLE AND LONG-TERM DEBT (notes)
3 Months Ended
Mar. 29, 2025
Debt Disclosure [Abstract]  
Notes payable and long-term debt NOTES PAYABLE AND LONG-TERM DEBT
The following table presents the components of Notes payable at March 29, 2025 and December 28, 2024:
 March 29, 2025December 28, 2024
(millions)Principal
amount
Effective
interest rate
Principal
amount
Effective
interest rate
U.S. commercial paper$459 4.62 %$— — %
Bank borrowings127 113 
Total$586 $113 
In March 2025, the Company repaid its €600 million ten-year 1.250% Euro Notes due 2025 with U.S. commercial paper and cash flow from operations.