v3.25.2
Debt
 6 Months Ended
Jun. 29, 2025
Debt Disclosure [Abstract]  
Debt Debt
Details of the Company’s debt at June 29, 2025 and December 31, 2024 are as follows:
June 29,
2025		December 31, 2024
Commercial paper$354,600 $— 
364-Day term loan due December 2025— 1,493,568 
Term loan due December 2026698,759 698,167 
Syndicated term loan due August 2028497,993 497,674 
1.800% notes due February 2025
— 399,933 
4.450% notes due September 2026
497,796 496,869 
2.250% notes due February 2027
299,183 298,930 
4.600% notes due September 2029
595,099 594,519 
3.125% notes due May 2030
597,239 596,958 
2.850% notes due February 2032
496,559 496,302 
5.000% notes due September 2034
690,322 689,802 
5.750% notes due November 2040
536,298 536,282 
Other foreign denominated debt73,514 155,048 
Finance lease obligations68,925 67,628 
Other debt17,236 18,341 
Total debt5,423,523 7,040,021 
Less: Notes payable and current portion of long-term debt(436,880)(2,054,525)
Long-term debt$4,986,643 $4,985,496 
Included in “Other foreign denominated debt” at June 29, 2025 and December 31, 2024 are $4,597 and $73,487, respectively, of transfers of certain trade receivables of Eviosys to third-party financial institutions for which the requirements to be accounted for as true sale in accordance with the guidance under ASC 860, “Transfers and Servicing,” were not met. Additions to and settlements of these obligations are reflected as “Proceeds from issuance of debt” and “Principal repayment of debt,” respectively, in “Net cash used by financing activities” in the Company’s Condensed Consolidated Statements of Cash Flows.
On February 3, 2025, the Company repaid the $400,000 aggregate principal amount of its 1.800% notes due February 2025 upon maturity using proceeds from the issuance of commercial paper.
On April 3, 2025, the Company repaid the outstanding $1,500,000 principal amount of borrowings under its 364-day term loan facility using a portion of the cash proceeds from the sale of TFP.
The Company maintains a revolving credit facility with total commitments of $1,250,000 and a maturity date of May 3, 2029. The Company’s $1,250,000 commercial paper program is supported by the revolving credit facility. At June 29, 2025, the Company had $354,600 in commercial paper balances outstanding; accordingly, the committed capacity available for drawdown under its revolving credit facility at June 29, 2025 was $895,400.
Certain of the Company’s debt agreements impose restrictions with respect to the maintenance of financial ratios and the disposition of assets. The most restrictive covenants currently require the Company to maintain a minimum level of interest coverage and a minimum level of net worth, as defined in the agreements. As of June 29, 2025, the Company’s interest coverage and net worth were substantially above the minimum levels required under these covenants.