Debt and Other Financing Arrangements	6 Months Ended
Jul. 02, 2011
Debt And Other Financing Arrangements Disclosure [Abstract]
Debt and Other Financing Arrangements	9. Debt and Other Financing Arrangements Short-term Financing In May 2011, the company obtained short-term financing commitments to fund $3 billion of the purchase price for the pending acquisition of Phadia (see Note 2). The commitment consists of a short-term revolving credit facility for up to $1 billion and short-term bridge financing for up to $2 billion. Interest on the debt would be computed, at the company's election, based on one of several Federal Funds, Prime or LIBOR-based rates, the most favorable of which was 1.16% at July 2, 2011. The company expects, however, to arrange long-term financing to fund the acquisition of Phadia in the near-term. Treasury Locks In June 2011, in connection with plans to issue long-term debt to fund its pending acquisition of Phadia, the company entered into hedging agreements (treasury locks) with several banks for a portion of the expected borrowing to mitigate the risk of interest rates rising prior to completion of a debt offering. Based on the company's conclusion that a debt offering is probable and that such debt would carry semi-annual interest payments over a 10-year term, the agreements hedge the cash flow risk that exists on a component of each of the semi-annual fixed-rate interest payments on a portion of the principal amount of a planned 10-year fixed rate debt issue (or subsequent financings of such debt). The change in the fair value of the hedge, $6 million, net of tax, as of July 2, 2011, was classified as an increase to accumulated other comprehensive items within shareholders' equity. Redemption of Convertible Notes During the first quarter of 2011, following issuance of a redemption notice by the company, holders of the company's 3.25% Senior Subordinated Convertible Notes due 2024 exercised conversion rights for substantially all of the remaining $329 million principal outstanding. The balance not converted by holders was redeemed by the company. The company paid the principal and the premium due upon conversion/redemption in cash for a total outlay of $452 million. The premium was charged to capital in excess of par value when paid. Issuance of Senior Notes On February 22, 2011, the company issued $2.2 billion principal amount of senior notes, as detailed below, to fund its acquisition of Dionex (see Note 2) and for general corporate purposes. 2.05% Senior Notes due 2014 On February 22, 2011, the company issued $300 million principal amount of 2.05% Senior Notes due 2014. Interest on the notes is payable on February 21 and August 21 of each year. The notes may be redeemed at any time at a redemption price of 100% of the principal amount plus a specified make-whole premium plus accrued interest. The company is subject to certain affirmative and negative covenants, the most restrictive of which limits the ability of the company to pledge principal properties as security under borrowing arrangements. At the issuance of debt, the company entered into six-month LIBOR-based interest rate swap arrangements with various banks. The aggregate amount of the swaps is equal to the principal amount of the 2.05% Notes and the payment dates of the swaps coincide with the payment dates of the 2.05% Notes. The swap contracts provide for the company to pay a variable interest rate of six-month USD LIBOR plus a spread of 0.4112% (0.88% at July 2, 2011) and to receive a fixed interest rate of 2.05%. The variable interest rate resets semi-annually. The swaps have been accounted for as a fair value hedge of the 2.05% Notes. 3.20% Senior Notes due 2016 On February 22, 2011, the company issued $900 million principal amount of 3.20% Senior Notes due 2016. Interest on the notes is payable on March 1 and September 1 of each year. The notes may be redeemed at any time at a redemption price of 100% of the principal amount plus a specified make-whole premium plus accrued interest. The company is subject to certain affirmative and negative covenants, the most restrictive of which limits the ability of the company to pledge principal properties as security under borrowing arrangements. 4.50% Senior Notes due 2021 On February 22, 2011, the company issued $1.00 billion principal amount of 4.50% Senior Notes due 2021. Interest on the notes is payable on March 1 and September 1 of each year. The notes may be redeemed at any time at a redemption price of 100% of the principal amount plus a specified make-whole premium plus accrued interest. The company is subject to certain affirmative and negative covenants, the most restrictive of which limits the ability of the company to pledge principal properties as security under borrowing arrangements.

Debt and Other Financing Arrangements

6 Months Ended

Jul. 02, 2011

Debt And Other Financing Arrangements Disclosure [Abstract]

9. Debt and Other Financing Arrangements

Short-term Financing

In May 2011, the company obtained short-term financing commitments to fund $3 billion of the purchase price for the pending acquisition of Phadia (see Note 2). The commitment consists of a short-term revolving credit facility for up to $1 billion and short-term bridge financing for up to $2 billion. Interest on the debt would be computed, at the company's election, based on one of several Federal Funds, Prime or LIBOR-based rates, the most favorable of which was 1.16% at July 2, 2011. The company expects, however, to arrange long-term financing to fund the acquisition of Phadia in the near-term.

Treasury Locks

In June 2011, in connection with plans to issue long-term debt to fund its pending acquisition of Phadia, the company entered into hedging agreements (treasury locks) with several banks for a portion of the expected borrowing to mitigate the risk of interest rates rising prior to completion of a debt offering. Based on the company's conclusion that a debt offering is probable and that such debt would carry semi-annual interest payments over a 10-year term, the agreements hedge the cash flow risk that exists on a component of each of the semi-annual fixed-rate interest payments on a portion of the principal amount of a planned 10-year fixed rate debt issue (or subsequent financings of such debt). The change in the fair value of the hedge, $6 million, net of tax, as of July 2, 2011, was classified as an increase to accumulated other comprehensive items within shareholders' equity.

Redemption of Convertible Notes

During the first quarter of 2011, following issuance of a redemption notice by the company, holders of the company's 3.25% Senior Subordinated Convertible Notes due 2024 exercised conversion rights for substantially all of the remaining $329 million principal outstanding. The balance not converted by holders was redeemed by the company. The company paid the principal and the premium due upon conversion/redemption in cash for a total outlay of $452 million. The premium was charged to capital in excess of par value when paid.

Issuance of Senior Notes

On February 22, 2011, the company issued $2.2 billion principal amount of senior notes, as detailed below, to fund its acquisition of Dionex (see Note 2) and for general corporate purposes.

2.05% Senior Notes due 2014

On February 22, 2011, the company issued $300 million principal amount of 2.05% Senior Notes due 2014. Interest on the notes is payable on February 21 and August 21 of each year. The notes may be redeemed at any time at a redemption price of 100% of the principal amount plus a specified make-whole premium plus accrued interest. The company is subject to certain affirmative and negative covenants, the most restrictive of which limits the ability of the company to pledge principal properties as security under borrowing arrangements.

At the issuance of debt, the company entered into six-month LIBOR-based interest rate swap arrangements with various banks. The aggregate amount of the swaps is equal to the principal amount of the 2.05% Notes and the payment dates of the swaps coincide with the payment dates of the 2.05% Notes. The swap contracts provide for the company to pay a variable interest rate of six-month USD LIBOR plus a spread of 0.4112% (0.88% at July 2, 2011) and to receive a fixed interest rate of 2.05%. The variable interest rate resets semi-annually. The swaps have been accounted for as a fair value hedge of the 2.05% Notes.

3.20% Senior Notes due 2016

On February 22, 2011, the company issued $900 million principal amount of 3.20% Senior Notes due 2016. Interest on the notes is payable on March 1 and September 1 of each year. The notes may be redeemed at any time at a redemption price of 100% of the principal amount plus a specified make-whole premium plus accrued interest. The company is subject to certain affirmative and negative covenants, the most restrictive of which limits the ability of the company to pledge principal properties as security under borrowing arrangements.

4.50% Senior Notes due 2021

On February 22, 2011, the company issued $1.00 billion principal amount of 4.50% Senior Notes due 2021. Interest on the notes is payable on March 1 and September 1 of each year. The notes may be redeemed at any time at a redemption price of 100% of the principal amount plus a specified make-whole premium plus accrued interest. The company is subject to certain affirmative and negative covenants, the most restrictive of which limits the ability of the company to pledge principal properties as security under borrowing arrangements.