Debt (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Carrying value of outstanding debt

The following table summarizes the carrying value of our outstanding debt as of the dates indicated (in millions, except percentages):

	Coupon		As of		Effective		As of		Effective
	Rate		March 31, 2022		Interest Rate		December 31, 2021		Interest Rate
Long-Term Debt
Floating Rate Notes:
Senior notes due 2023	LIBOR plus 0.87%		$	400	1.100	%	$	400	1.100	%
Fixed Rate Notes:
Senior notes due 2022	—	%	—		—	%	750		3.989	%
Senior notes due 2022	2.600	%	605		2.678	%	605		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 2025	1.900	%	800		1.803	%	800		1.803	%
Senior notes due 2026	1.400	%	750		1.252	%	750		1.252	%
Senior notes due 2027	3.600	%	850		3.689	%	850		3.689	%
Senior notes due 2030	2.700	%	950		2.623	%	950		2.623	%
Senior notes due 2031	2.600	%	750		2.186	%	750		2.186	%
Senior notes due 2042	4.000	%	750		4.114	%	750		4.114	%
Senior notes due 2051	3.650	%	1,000		2.517	%	1,000		2.517	%
Total senior notes			8,355				9,105
Hedge accounting fair value adjustments (1)			7				7
Unamortized premium/(discount) and debt issuance costs			(29)				(30)
Less: Current portion of long-term debt			(1,755)				(1,355)
Total long-term debt			6,578				7,727
Short-Term Debt
Current portion of long-term debt			1,755				1,355
Total short-term debt			1,755				1,355
Total Debt			$	8,333			$	9,082

(1) Includes the fair value adjustments to debt associated with terminated interest rate swaps which are being recorded as a reduction to interest expense over the remaining term of the related notes.