v3.25.4
Borrowings (Tables)
 12 Months Ended
Dec. 27, 2025
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
Long-Term Debt
Dec 27, 2025Dec 28, 2024
($ In Millions)
Effective Interest Rate
AmountAmount
Fixed-rate senior notes:
3.40%, due March 2025—%$— $1,500 
3.70%, due July 2025—%— 2,250 
4.88%, due February 20264.93%1,500 1,500 
2.60%, due May 20265.03%1,000 1,000 
3.75%, due March 20273.78%1,000 1,000 
3.15%, due May 20275.60%1,000 1,000 
3.75%, due August 20273.81%1,250 1,250 
4.88%, due February 20284.92%1,750 1,750 
1.60%, due August 20281.67%1,000 1,000 
4.00%, due August 20294.05%850 850 
2.45%, due November 20292.38%2,000 2,000 
5.13%, due February 20305.14%1,250 1,250 
3.90%, due March 20303.91%1,500 1,500 
5.00%, due February 20315.07%500 500 
2.00%, due August 20312.02%1,250 1,250 
4.15%, due August 20324.17%1,250 1,250 
4.00%, due December 20325.65%750 750 
5.20%, due February 20335.23%2,250 2,250 
5.15%, due February 20345.18%900 900 
4.60%, due March 20404.59%750 750 
2.80%, due August 20412.81%750 750 
4.80%, due October 20416.39%802 802 
4.25%, due December 20425.89%567 567 
5.63%, due February 20435.61%1,000 1,000 
4.90%, due July 20456.52%772 772 
4.10%, due May 20465.80%1,250 1,250 
4.10%, due May 20475.76%1,000 1,000 
4.10%, due August 20475.33%640 640 
3.73%, due December 2047 6.17%1,967 1,967 
3.25%, due November 20493.19%2,000 2,000 
4.75%, due March 20504.73%2,250 2,250 
3.05%, due August 20513.05%1,250 1,250 
4.90%, due August 20524.89%1,750 1,750 
5.70%, due February 20535.68%2,000 2,000 
5.60%, due February 2054 5.59%1,150 1,150 
3.10%, due February 20603.10%1,000 1,000 
4.95%, due March 20604.98%1,000 1,000 
3.20%, due August 20613.20%750 750 
5.05%, due August 20625.03%900 900 
5.90%, due February 20635.88%1,250 1,250 
Dec 27, 2025Dec 28, 2024
($ In Millions)
Effective Interest Rate
AmountAmount
Oregon and Arizona bonds1:
3.80% - 4.10%, due December 2035 - 20403.87%423 423 
5.00%, due September 20423.63%131 131 
4.00%, due June 20493.98%438 438 
5.00%, due September 20524.24%445 445 
Total senior notes and other borrowings47,235 50,985 
Unamortized premium/discount, issuance costs and other(384)(392)
Hedge accounting fair value adjustments(266)(582)
Long-term debt46,585 50,011 
Current portion of long-term debt2
(2,499)(3,729)
Total long-term debt$44,086 $46,282 
1 These bonds may be remarketed or tendered on a periodic basis and will be classified within the current portion of long-term debt in the 12 months before remarketing or tendering.
2 As of December 27, 2025, current portion of long-term debt includes $7 million of hedge accounting fair value adjustments ($36 million as of December 28, 2024).
Schedule of Maturities of Long-term Debt
Our aggregate debt maturities, based on outstanding principal as of December 27, 2025, by year payable, are as follows:
(In Millions)202620272028202920302031 and thereafterTotal
Future debt maturities
$2,500 $3,826 $3,173 $3,288 $2,750 $31,698 $47,235