| | | | | | | | | | | | | | | | | | | | March 29, 2025 | | December 28, 2024 | | (Millions of Dollars) | Interest Rate | Notional Value | Carrying Value1 | | Carrying Value | | Notes payable due 2025 | 2.30% | $ | — | | $ | — | | | $ | 499.9 | | | Notes payable due 2026 | 3.40% | 500.0 | | 499.5 | | | 499.4 | | | Notes payable due 2026 | 6.27% | 350.0 | | 349.4 | | | 349.3 | | | Notes payable due 2026 | 3.42% | 25.0 | | 25.6 | | | 25.7 | | | Notes payable due 2026 | 1.84% | 27.0 | | 27.5 | | | 26.7 | | | Notes payable due 2028 | 6.00% | 400.0 | | 398.3 | | | 398.0 | | | Notes payable due 2028 | 7.05% | 150.0 | | 156.9 | | | 157.5 | | | Notes payable due 2028 | 4.25% | 500.0 | | 498.3 | | | 498.3 | | | Notes payable due 2028 | 3.52% | 50.0 | | 52.3 | | | 52.4 | | | Notes payable due 2030 | 2.30% | 750.0 | | 746.2 | | | 746.2 | | | Notes payable due 2032 | 3.00% | 500.0 | | 496.9 | | | 496.6 | | | Notes payable due 2040 | 5.20% | 400.0 | | 375.1 | | | 374.5 | | | Notes payable due 2048 | 4.85% | 500.0 | | 495.2 | | | 495.2 | | | Notes payable due 2050 | 2.75% | 750.0 | | 741.1 | | | 741.0 | | Notes payable due 2060 (junior subordinated)2 | 6.71% | 750.0 | | 741.7 | | | 741.6 | | | Other, payable in varying amounts 2025 through 2026 | 4.23%-4.31% | 0.6 | | 0.6 | | | 0.7 | | | Total Long-term debt, including current maturities | | $ | 5,652.6 | | $ | 5,604.6 | | | $ | 6,103.0 | | | Less: Current maturities of long-term debt | | | (849.4) | | | (500.4) | | | Long-term debt | | | $ | 4,755.2 | | | $ | 5,602.6 | |
1Carrying values are net of unamortized discounts of $(4.7) million, deferred issuance costs of $(31.0) million, unamortized terminated swaps of $(19.2) million, and purchase accounting fair value adjustments of $6.9 million. Unamortized gain/(loss) associated with interest rate swaps are more fully discussed in Note H, Financial Instruments. 2In accordance with the terms of Note payable due 2060, the interest rate was reset as of March 2025, to 6.71%, from 4.00% as of the year ended December 28, 2024.
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