v3.26.1
SHORT AND LONG-TERM DEBT (Tables)
6 Months Ended
Jun. 28, 2026
Debt Disclosure [Abstract]  
Schedule of Short-Term Debt Short-term debt consisted of the following:
June 28, 2026
December 31, 2025
Short-term foreign bank borrowings against lines of credit$157,274$218,546
U.S. commercial paper264,271
Total short-term debt$421,545$218,546
Weighted average interest rate on outstanding commercial paper3.7 %— %
Schedule of Long-term Debt Instruments
Long-term debt consisted of the following:
Debt Type and Rate
Maturity Date
June 28, 2026December 31, 2025
2.300% Notes
August 15, 2026500,000 500,000 
7.200% Debentures
August 15, 2027193,639 193,639 
4.550% Notes
February 24, 2028500,000 500,000 
4.250% Notes
May 4, 2028350,000 350,000 
2.450% Notes
November 15, 2029300,000 300,000 
4.750% Notes
February 24, 2030500,000 500,000 
1.700% Notes
June 1, 2030350,000 350,000 
4.950% Notes
February 24, 2032500,000 500,000 
4.500% Notes
May 4, 2033400,000 400,000 
5.100% Notes
February 24, 2035500,000 500,000 
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)
75,54173,510
Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts(30,045)(32,628)
Total long-term debt5,189,135 5,184,521 
Less—current portion504,167503,327
Long-term portion$4,684,968 $4,681,194 
Schedule of Net Interest Expense
Net interest expense consists of the following:
Three Months EndedSix Months Ended
June 28, 2026June 29, 2025June 28, 2026June 29, 2025
Interest expense$57,813 $60,445 $114,689 $115,361 
Capitalized interest(2,059)(3,166)(4,185)(7,475)
Interest expense
55,754 57,279 110,504 107,886 
Interest income(5,791)(11,244)(10,723)(17,229)
Interest expense, net
$49,963 $46,035 $99,781 $90,657