Quarterly report pursuant to Section 13 or 15(d)

DEBT (Details)

v3.22.2
DEBT (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2022
Jul. 04, 2021
Jun. 30, 2022
Jul. 04, 2021
Dec. 31, 2021
Aug. 18, 2021
Short-term Debt [Line Items]            
Loans payable $ 165   $ 165   $ 208  
Commercial paper 705   705   313  
Line of Credit Facility, Maximum Borrowing Capacity 3,500   3,500      
Line of Credit Facility, Remaining Borrowing Capacity 2,800   2,800      
Long-term debt            
Other Long-term Debt 149   149   110  
Unamortized discount and deferred issuance costs (65)   (65)   (68)  
Fair value adjustments due to hedge on indebtedness     (85)   34  
Finance Lease, Liability 83   83   89  
Total long-term debt 3,555   3,555   3,638  
Current maturities of long-term debt 65   65   59  
Long-term debt 3,490   3,490   3,579  
Principal payments            
2022 44   44      
2023 545   545      
2024 41   41      
2025 508   508      
2026 54   54      
Gain (Loss) on Swaps (39)   (111)      
Gain (Loss) on Borrowings 34   114      
Fair value            
Fair value of total debt 4,109   4,109   4,461  
Carrying value of total debt 4,425   4,425   4,159  
5-Year Revolving Credit Facility            
Short-term Debt [Line Items]            
Line of Credit Facility, Maximum Borrowing Capacity           $ 2,000
1-year revolving credit agreement            
Short-term Debt [Line Items]            
Line of Credit Facility, Maximum Borrowing Capacity           $ 1,500
EUROPE            
Short-term Debt [Line Items]            
Commercial paper 105   105   113  
UNITED STATES            
Short-term Debt [Line Items]            
Commercial paper 600   600   $ 200  
Interest Rate Swap            
Principal payments            
Derivative, Notional Amount 500   500      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax $ 43 $ (33) $ 82 $ 28    
Commercial Paper            
Short-term Debt [Line Items]            
Short-term Debt, Weighted Average Interest Rate, at Point in Time 1.33%   1.33%   (0.01%)  
Line of Credit Facility, Maximum Borrowing Capacity $ 3,500   $ 3,500      
Commercial Paper | EUROPE            
Short-term Debt [Line Items]            
Short-term Debt, Weighted Average Interest Rate, at Point in Time (0.20%)   (0.20%)   (0.39%)  
Commercial Paper | UNITED STATES            
Short-term Debt [Line Items]            
Short-term Debt, Weighted Average Interest Rate, at Point in Time 1.60%   1.60%   0.21%  
International and Other Lines of Credit            
Short-term Debt [Line Items]            
Line of Credit Facility, Remaining Borrowing Capacity $ 271   $ 271      
Senior notes, due 2023            
Long-term debt            
Unsecured Debt $ 500   $ 500   $ 500  
Debt instrument interest rate (as a percent) 3.65%   3.65%      
Senior notes, due 2025(1)            
Long-term debt            
Unsecured Debt $ 500   $ 500   500  
Debt instrument interest rate (as a percent) 0.75%   0.75%      
Senior notes, due 2025(1) | London Interbank Offered Rate (LIBOR)            
Principal payments            
Debt Instrument, Description of Variable Rate Basis     LIBOR      
Debentures, due 2027            
Long-term debt            
Unsecured Debt $ 58   $ 58   58  
Debt instrument interest rate (as a percent) 6.75%   6.75%      
Debentures, due 2028            
Long-term debt            
Unsecured Debt $ 250   $ 250   250  
Debt instrument interest rate (as a percent) 7.125%   7.125%      
Senior Notes 1.50 Percent, Due 2030            
Long-term debt            
Unsecured Debt $ 850   $ 850   850  
Debt instrument interest rate (as a percent) 1.50%   1.50%      
Senior Notes 1.50 Percent, Due 2030 | London Interbank Offered Rate (LIBOR)            
Principal payments            
Debt Instrument, Description of Variable Rate Basis     LIBOR      
Senior Notes 1.50 Percent, Due 2030 | Interest Rate Swap            
Principal payments            
Derivative, Notional Amount $ 765   $ 765      
Senior notes, due 2043            
Long-term debt            
Unsecured Debt $ 500   $ 500   500  
Debt instrument interest rate (as a percent) 4.875%   4.875%      
Senior notes, due 2050            
Long-term debt            
Unsecured Debt $ 650   $ 650   650  
Debt instrument interest rate (as a percent) 2.60%   2.60%      
Debentures, due 2098(2)            
Long-term debt            
Unsecured Debt $ 165   $ 165   $ 165  
Debt instrument interest rate (as a percent) 5.65%   5.65%      
Effective interest rate (as a percent) 7.48%   7.48%