v3.25.1
Long-Term Debt
 3 Months Ended
Apr. 04, 2025
Debt Disclosure [Abstract]  
Long-Term Debt
Note 7: Long-Term Debt

Long-term debt consisted of the following (in millions, with annualized interest rates):
As of
April 4, 2025December 31, 2024
Revolving Credit Facility due 2028, interest payable monthly at 5.67% and 5.69%
$375.0 $375.0 
0.50% Notes due 2029 (1)
1,500.0 1,500.0 
0% Notes due 2027
804.9 804.9 
3.875% Notes due 2028 (2)
700.0 700.0 
Gross long-term debt3,379.9 3,379.9 
Less: Unamortized debt discount (3)
(3.1)(3.4)
Less: Unamortized debt issuance costs (4)
(28.5)(30.6)
 Net long-term debt$3,348.3 $3,345.9 

(1)Interest is payable on March 1 and September 1 of each year at 0.50% annually.
(2)Interest is payable on March 1 and September 1 of each year at 3.875% annually.
(3)Debt discount of $3.1 million and $3.4 million for the 3.875% Notes as of April 4, 2025 and December 31, 2024, respectively.
(4)Debt issuance costs of $20.5 million and $21.7 million for the 0.50% Notes, $6.9 million and $7.7 million for the 0% Notes and $1.1 million and $1.2 million for the 3.875% Notes, in each case as of April 4, 2025 and December 31, 2024, respectively.

Expected maturities of gross long-term debt as of April 4, 2025 were as follows (in millions):
PeriodExpected Maturities
Remainder of 2025$— 
2026— 
2027804.9 
20281,075.0 
20291,500.0 
Thereafter— 
Total$3,379.9 

The Company was in compliance with its covenants under all debt agreements as of April 4, 2025, and expects to remain in compliance with all covenants over at least the next 12 months.