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Debt (Tables)
 3 Months Ended
Mar. 31, 2018
Debt Disclosure [Abstract]  
Carrying value of outstanding debt
The following table summarizes the carrying value of our outstanding debt (in millions, except percentages):
 
 
Coupon
 
As of
 
Effective
 
As of
 
Effective
 
 
 Rate
 
March 31, 2018
 
 Interest Rate
 
December 31, 2017
 
 Interest Rate
Long-Term Debt
 
 
 
 
 
 
 
 
 
 
Floating Rate Notes:
 
 
 
 
 
 
 
 
 
 
Senior notes due 2019
 
LIBOR plus 0.48%
 
$
400

 
2.354
%
 
$
400

 
1.955
%
Senior notes due 2023
 
LIBOR plus 0.87%
 
400

 
2.744
%
 
400

 
2.349
%
 
 
 
 
 
 
 
 
 
 
 
Fixed Rate Notes:
 
 
 
 
 
 
 
 
 
 
Senior notes due 2018
 
2.500%
 
—

 

 
750

 
2.775
%
Senior notes due 2019
 
2.200%
 
1,150

 
2.346
%
 
1,150

 
2.346
%
Senior notes due 2020
 
3.250%
 
500

 
3.389
%
 
500

 
3.389
%
Senior notes due 2020
 
2.150%
 
500

 
2.344
%
 
500

 
2.344
%
Senior notes due 2021
 
2.875%
 
750

 
2.993
%
 
750

 
2.993
%
Senior notes due 2022
 
3.800%
 
750

 
3.989
%
 
750

 
3.989
%
Senior notes due 2022
 
2.600%
 
1,000

 
2.678
%
 
1,000

 
2.678
%
Senior notes due 2023
 
2.750%
 
750

 
2.866
%
 
750

 
2.866
%
Senior notes due 2024
 
3.450%
 
750

 
3.531
%
 
750

 
3.531
%
Senior notes due 2027
 
3.600%
 
850

 
3.689
%
 
850

 
3.689
%
Senior notes due 2042
 
4.000%
 
750

 
4.114
%
 
750

 
4.114
%
Senior notes due 2056
 
6.000%
 
750

 
6.547
%
 
750

 
6.547
%
Total senior notes
 
 
 
9,300

 
 
 
10,050

 
 
Hedge accounting fair value adjustments
 
 
 
(28
)
 
 
 
2

 
 
Unamortized discount and debt issuance costs
 
 
 
(64
)
 
 
 
(68
)
 
 
Less: Current portion of long-term debt
 
 
 
—

 
 
 
(750
)
 
 
Total long-term debt
 
 
 
9,208

 
 
 
9,234

 
 
 
 
 
 
 
 
 
 
 
 
 
Short-Term Debt
 
 
 
 
 
 
 
 
 
 
Current portion of long-term debt
 
 
 
—

 
 
 
750

 
 
Other indebtedness
 
 
 
20

 
 
 
31

 
 
Total short-term debt
 
 
 
20

 
 
 
781

 
 
Total Debt
 
 
 
$
9,228

 
 
 
$
10,015