DEBT AND CREDIT ARRANGEMENTS (Tables)

3 Months Ended

Apr. 03, 2026

Long-term debt is summarized below:


(In millions)	April 3, 2026		January 2, 2026


















Fixed-rate debt(1)	$	10,776	$	10,876
Finance lease obligations and other	274		283


Unamortized discounts and issuance costs, net of bond premium	(43)		(43)
Total long-term debt	11,007		11,116
Less: Current portion of long term debt(2)	1,816		673
Long-term debt, net	$	9,191	$	10,443

_______________

(1)See Note 8: Debt and Credit Arrangements in our Fiscal 2025 Form 10-K for information on our fixed-rate debt.

(2)As of April 3, 2026, includes the $550 million 3.85% notes, due December 2026 (“3.85% 2026 Notes”) and $1,250 million 5.40% notes, due January 2027 (“5.40% 2027 Notes”). As of January 2, 2026, includes the $100 million 7.00% debentures, due January 2026 (“7.00% 2026 Debentures”) and $550 million 3.85% 2026 Notes.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details