XML 28 R16.htm IDEA: XBRL DOCUMENT v3.25.3
Debt
 9 Months Ended
Oct. 03, 2025
Debt Disclosure [Abstract]  
Debt
NOTE 8. DEBT
Total outstanding debt consisted of the following:
As of
Effective interest rateThird Quarter of Year End
InstrumentDate of Issuance20252024
(In millions)
Senior Notes:
   Senior Notes, 4.90%, due June 2028
June 20185.04%$600.0 $600.0 
   Senior Notes, 6.10%, due March 2033
March 20236.13%800.0 800.0 
Unamortized discount and issuance costs(8.2)(9.4)
Total debt$1,391.8 $1,390.6 
Senior Notes
All of our senior notes are unsecured obligations. Interest on the senior notes is payable semi-annually in June and December of each year for the 2028 senior notes and in March and September for the 2033 senior notes. Additional details are unchanged from the information disclosed in Note 8 “Debt” of the 2024 Form 10-K.
Credit Facilities
2022 Credit Facility
In 2022, we entered into a five-year, unsecured, revolving credit facility in the aggregate principal amount of up to $1.25 billion. Subject to approval, we may increase the commitments for revolving loans by an aggregate principal amount of up to $500.0 million. The variable interest rate and commitment fees are based on our current long-term, senior unsecured debt ratings, our leverage ratio, and certain specified sustainability targets. No amount was outstanding at the end of the third quarter of 2025 and at the end of 2024.
At the end of the third quarter of 2025, we were in compliance with our debt covenants for the 2022 credit facility. Additional details are unchanged from the information disclosed in Note 8 “Debt” of the 2024 Form 10-K.
Uncommitted Facilities
At the end of the third quarter of 2025, we had two $75.0 million and one €100.0 million revolving credit facilities, which are uncommitted. Generally, these variable-rate, uncommitted facilities may be redeemed upon demand. Borrowings under uncommitted facilities are classified as short-term debt in the Condensed Consolidated Balance Sheet. No amount was outstanding at the end of the third quarter of 2025 and at the end of 2024.