|3 Months Ended|
Apr. 02, 2021
|Subsequent Events [Abstract]|
|Subsequent Events||SUBSEQUENT EVENTS
In April 2021, the Company extinguished a portion of its long-term debt prior to maturity. As of April 2, 2021, the extinguished notes had a carrying value of $2,542 million. The general terms of the notes that were extinguished are as follows:
•€867 million total principal amount of notes due March 9, 2023, at a fixed interest rate of 0.750 percent;
•$392 million total principal amount of notes due April 1, 2023, at a fixed interest rate of 2.500 percent; and
•$1,107 million total principal amount of notes due November 1, 2023, at a fixed interest rate of 3.200 percent.
The notes were redeemed at a redemption price of 100 percent of the principal amount of the applicable notes, plus accrued and unpaid interest and the applicable make-whole premiums. As a result of the extinguishment, the Company incurred charges of approximately $110 million.
Sale of Ownership Interest in Coca-Cola Amatil Limited
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef