v3.26.1
Debt and Other Financing Arrangements (Tables)
 6 Months Ended
Jun. 27, 2026
Debt Disclosure [Abstract]  
Schedule of Outstanding Debt
The company’s debt and other financing arrangements are as follows:
Effective interest rate at June 27,June 27,December 31,
(Dollars in millions)202620262025
3.20% 3-Year Senior Notes, Due 1/21/2026 (euro-denominated)
$— $587 
1.40% 8.5-Year Senior Notes, Due 1/23/2026 (euro-denominated)
— 822 
4.953% 3-Year Senior Notes, Due 8/10/2026
5.07 %600 600 
0.832% 1.5-Year Senior Notes, Due 9/7/2026 (Swiss franc-denominated)
1.12 %506 517 
5.00% 3-Year Senior Notes, Due 12/5/2026
5.24 %1,000 1,000 
1.45% 10-Year Senior Notes, Due 3/16/2027 (euro-denominated)
1.65 %569 587 
1.75% 7-Year Senior Notes, Due 4/15/2027 (euro-denominated)
1.97 %683 705 
1.054% 5-Year Senior Notes, Due 10/20/2027 (Japanese yen-denominated)
1.18 %179 184 
4.80% 5-Year Senior Notes, Due 11/21/2027
5.00 %600 600 
Floating Rate (EURIBOR + 0.280%) 2-Year Senior Notes, Due 12/1/2027 (euro-denominated)
2.75 %1,138 1,175 
0.790% 3-Year Senior Notes, Due 1/6/2028 (Swiss franc-denominated)
1.34 %109 111 
0.50% 8.5-Year Senior Notes, Due 3/1/2028 (euro-denominated)
0.77 %911 940 
1.6525% 4-Year Senior Notes, Due 3/7/2028 (Swiss franc-denominated)
1.79 %408 416 
0.77% 5-Year Senior Notes, Due 9/6/2028 (Japanese yen-denominated)
0.90 %179 185 
1.375% 12-Year Senior Notes, Due 9/12/2028 (euro-denominated)
1.46 %683 705 
1.75% 7-Year Senior Notes, Due 10/15/2028
1.89 %700 700 
5.00% 5-Year Senior Notes, Due 1/31/2029
5.24 %1,000 1,000 
1.125% 4-Year Senior Notes, Due 3/7/2029 (Swiss franc-denominated)
1.26 %389 397 
1.95% 12-Year Senior Notes, Due 7/24/2029 (euro-denominated)
2.08 %797 822 
2.60% 10-Year Senior Notes, Due 10/1/2029
2.74 %900 900 
1.279% 7-Year Senior Notes, Due 10/19/2029 (Japanese yen-denominated)
1.44 %29 30 
1.120% 5-Year Senior Notes, Due 1/6/2030 (Swiss franc-denominated)
1.25 %289 295 
4.977% 7-Year Senior Notes, Due 8/10/2030
5.12 %750 750 
0.80% 9-Year Senior Notes, Due 10/18/2030 (euro-denominated)
0.89 %1,992 2,056 
4.215% 5-Year Senior Notes, Due 2/12/2031
4.41 %1,000 — 
4.200% 5.5-Year Senior Notes Due 3/1/2031
4.41 %500 500 
0.875% 12-Year Senior Notes, Due 10/1/2031 (euro-denominated)
1.13 %1,025 1,057 
2.00% 10-Year Senior Notes, Due 10/15/2031
2.23 %1,200 1,200 
1.8401% 8-Year Senior Notes, Due 3/8/2032 (Swiss franc-denominated)
1.92 %513 524 
2.375% 12-Year Senior Notes, Due 4/15/2032 (euro-denominated)
2.55 %683 705 
4.473% 7-Year Senior Notes, Due 10/7/2032
4.62 %750 750 
1.49% 10-Year Senior Notes, Due 10/20/2032 (Japanese yen-denominated)
1.60 %39 40 
4.95% 10-Year Senior Notes, Due 11/21/2032
5.09 %600 600 
1.4175% 8-Year Senior Notes, Due 3/7/2033 (Swiss franc-denominated)
1.49 %432 442 
4.550% 7.3-Year Senior Notes, Due 6/15/2033
4.73 %750 — 
5.086% 10-Year Senior Notes, Due 8/10/2033
5.20 %1,000 1,000 
1.125% 12-Year Senior Notes, Due 10/18/2033 (euro-denominated)
1.21 %1,708 1,762 
5.20% 10-Year Senior Notes, Due 1/31/2034
5.34 %500 500 
3.65% 12-Year Senior Notes, Due 11/21/2034 (euro-denominated)
3.76 %854 881 
1.50% 12-Year Senior Notes, Due 9/6/2035 (Japanese yen-denominated)
1.58 %133 137 
Effective interest rate at June 27,June 27,December 31,
(Dollars in millions)202620262025
4.794% 10-Year Senior Notes, Due 10/7/2035
4.91 %750 750 
3.628% 10-Year Senior Notes, Due 12/1/2035 (euro-denominated)
3.70 %1,252 1,292 
4.902% 10-Year Senior Notes, Due 2/12/2036
5.02 %1,300 — 
1.76% 10-Year Senior Notes, Due 3/3/2036 (Swiss franc-denominated)
1.81 %358 — 
2.0375% 12-Year Senior Notes, Due 3/7/2036 (Swiss franc-denominated)
2.10 %401 410 
1.520% 12-Year Senior Notes, Due 1/6/2037 (Swiss franc-denominated)
1.56 %384 392 
1.6524% 12-Year Senior Notes, Due 3/6/2037 (Swiss franc-denominated)
1.71 %266 271 
2.875% 20-Year Senior Notes, Due 7/24/2037 (euro-denominated)
2.94 %797 822 
4.894% 12-Year Senior Notes, Due 10/7/2037
5.00 %500 500 
1.90% 12-Year Senior Notes, Due 3/3/2038 (Swiss franc-denominated)
1.95 %310 — 
1.50% 20-Year Senior Notes, Due 10/1/2039 (euro-denominated)
1.73 %1,025 1,057 
2.01% 15-Year Senior Notes, Due 3/3/2041 (Swiss franc-denominated)
2.05 %352 — 
2.80% 20-Year Senior Notes, Due 10/15/2041
2.90 %1,200 1,200 
1.625% 20-Year Senior Notes, Due 10/18/2041 (euro-denominated)
1.78 %1,423 1,468 
2.069% 20-Year Senior Notes, Due 10/20/2042 (Japanese yen-denominated)
2.13 %90 93 
5.404% 20-Year Senior Notes, Due 8/10/2043
5.50 %600 600 
2.02% 20-Year Senior Notes, Due 9/6/2043 (Japanese yen-denominated)
2.06 %179 185 
5.30% 30-Year Senior Notes, Due 2/1/2044
5.37 %400 400 
1.49% 20-Year Senior Notes, Due 1/6/2045 (Swiss franc-denominated)
1.54 %228 233 
1.8975% 20-Year Senior Notes, Due 3/7/2045 (Swiss franc-denominated)
1.95 %167 170 
5.546% 20-Year Senior Notes, Due 2/12/2046
5.64 %750 — 
2.11% 20-Year Senior Notes, Due 3/3/2046 (Swiss franc-denominated)
2.18 %167 — 
4.10% 30-Year Senior Notes, Due 8/15/2047
4.23 %750 750 
1.875% 30-Year Senior Notes, Due 10/1/2049 (euro-denominated)
1.98 %1,138 1,175 
1.47% 25-Year Senior Notes, Due 1/6/2050 (Swiss franc-denominated)
1.49 %404 413 
2.00% 30-Year Senior Notes, Due 10/18/2051 (euro-denominated)
2.07 %854 881 
2.382% 30-Year Senior Notes, Due 10/18/2052 (Japanese yen-denominated)
2.43 %206 212 
2.06% 30-Year Senior Notes, Due 3/3/2056 (Swiss franc-denominated)
2.09 %245 — 
Other — 1 
Total borrowings at par value
42,592 39,459 
Unamortized discount
(88)(94)
Unamortized debt issuance costs
(220)(194)
Total borrowings at carrying value
42,284 39,172 
Finance lease liabilities
264 213 
Less: Short-term obligations and current maturities
3,368 3,533 
Long-term obligations$39,181 $35,852