v3.25.2
SHORT AND LONG-TERM DEBT (Tables)
 6 Months Ended
Jun. 29, 2025
Debt Disclosure [Abstract]  
Schedule of Short-term Debt Short-term debt consisted of the following:
June 29, 2025December 31, 2024
Short-term foreign bank borrowings against lines of credit$164,968$161,364
U.S. commercial paper—1,145,612
Total short-term debt$164,968$1,306,976
Weighted average interest rate on outstanding commercial paper— %4.5 %
Schedule of Long-term Debt Instruments
Long-term debt consisted of the following:
Debt Type and Rate
Maturity Date
June 29, 2025December 31, 2024
0.900% Notes (1)
June 1, 2025— 300,000 
3.200% Notes
August 21, 2025300,000 300,000 
2.300% Notes
August 15, 2026500,000 500,000 
7.200% Debentures
August 15, 2027193,639 193,639 
4.550% Notes (2)
February 24, 2028500,000 — 
4.250% Notes
May 4, 2028350,000 350,000 
2.450% Notes
November 15, 2029300,000 300,000 
4.750% Notes (2)
February 24, 2030500,000 — 
1.700% Notes
June 1, 2030350,000 350,000 
4.950% Notes (2)
February 24, 2032500,000 — 
4.500% Notes
May 4, 2033400,000 400,000 
5.100% Notes (2)
February 24, 2035500,000 — 
3.375% Notes
August 15, 2046300,000 300,000 
3.125% Notes
November 15, 2049400,000400,000
2.650% Notes
June 1, 2050350,000350,000
Finance lease obligations (see Note 7)
71,01773,802
Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts(35,199)(22,266)
Total long-term debt5,479,457 3,795,175 
Less—current portion303,021604,965
Long-term portion$5,176,436 $3,190,210 
(1) In June 2025, we repaid $300,000 of 0.900% Notes due upon their maturity.
(2) During the first quarter of 2025, we issued $500,000 of 4.550% Notes due in February 2028, $500,000 of 4.750% Notes due in February 2030, $500,000 of 4.950% Notes due in February 2032 and $500,000 of 5.100% Notes due in February 2035 (together, the “2025 Notes”). Proceeds from the issuance of the 2025 Notes, net of discounts and issuance costs, totaled $1,986,026. The 2025 Notes were issued under a shelf registration on Form S-3 filed in May 2024 that registered an indeterminate amount of debt securities.
Schedule of Net Interest Expense
Net interest expense consists of the following:
Three Months EndedSix Months Ended
June 29, 2025June 30, 2024June 29, 2025June 30, 2024
Interest expense$60,445 $50,149 $115,361 $96,193 
Capitalized interest(3,166)(5,841)(7,475)(10,277)
Interest expense
57,279 44,308 107,886 85,916 
Interest income(11,244)(2,935)(17,229)(4,721)
Interest expense, net
$46,035 $41,373 $90,657 $81,195