Borrowings |
9 Months Ended | ||||||||||||
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Sep. 26, 2026 | |||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||
| Borrowings |
In the first quarter of 2026, we settled $1.5 billion of our senior notes due February 2026 and amended our 364-day $5.0 billion credit facility agreement to a three-year $3.0 billion credit facility maturing January 2029.
In the second quarter of 2026, we settled $1.0 billion of our senior notes due May 2026, and we issued a total of $6.5 billion aggregate principal amount of senior notes comprised of $1.0 billion in 4.65% senior notes due 2031, $1.0 billion in 5.00% senior notes due 2033, $2.2 billion in 5.30% senior notes due 2036, $1.8 billion in 6.13% senior notes due 2056, and $500 million in 6.20% senior notes due 2066. All of our senior fixed-rate notes pay interest semiannually. We may redeem the fixed-rate notes prior to their maturity at our option at specified redemption prices and subject to certain restrictions. The obligations under our senior fixed-rate notes rank equally in the right of payment with all of our other existing and future senior unsecured indebtedness and effectively rank junior to all liabilities of our subsidiaries.
In connection with our repurchase of the 49% minority ownership interest in Ireland SCIP, discussed within "Note 3: Non-Controlling Interests" within Notes to Consolidated Condensed Financial Statements, we executed and drew on a $6.5 billion 364-day senior unsecured term loan facility with an interest rate of 4.79% in the second quarter of 2026. We repaid the term loan facility in full during the same period.
In the third quarter of 2026, we amended our three-year $3.0 billion credit facility maturing in January 2029 to increase total borrowing capacity to $4.8 billion and extend the maturity date to August 2029. We also amended our five-year $7.0 billion credit facility maturing in February 2029 to increase total borrowing capacity to $9.7 billion and extend the maturity date to August 2031. Neither of our revolving credit facilities had borrowings outstanding as of September 26, 2026 or December 27, 2025.
On October 1, 2026, total borrowing capacity under the amended credit facilities increased by $500 million, bringing the total to $15.0 billion, consisting of a $5.0 billion three-year credit facility and a $10.0 billion five-year credit facility.
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- References No definition available.
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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