Financing Arrangements (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Debt

The following table summarizes our long-term debt at December 31, 2019 and 2018:

Millions of dollars	2019			2018
Senior Note - 2.40%, maturing 2019	$	—		$	250
Term Loan - 1.00%, maturing 2019	—			687
Senior Note - 0.625%, maturing 2020	561			572
Senior Note - 4.85%, maturing 2021	300			300
Senior Note - 4.70%, maturing 2022	300			300
Senior Note - 3.70%, maturing 2023	250			250
Senior Note - 4.00%, maturing 2024	300			300
Senior Note - 3.70%, maturing 2025	350			350
Senior Note - 1.25%, maturing 2026	556			567
Senior Note - 1.10%, maturing 2027	667			681
Senior Note - 4.75%, maturing 2029	692			—
Senior Note - 5.15%, maturing 2043	249			250
Senior Note - 4.50%, maturing 2046	496			496
Other, net	(22		)	(10		)
	$	4,699		$	4,993
Less current maturities	559			947
Total long-term debt	$	4,140		$	4,046

Schedule of Maturities of Long-term Debt

The following table summarizes the contractual maturities of our long-term debt, including current maturities, at December 31, 2019:

Millions of dollars
2020	$	559
2021	297
2022	298
2023	247
2024	298
Thereafter	3,000
Long-term debt, including current maturities	$	4,699

Schedule of Notes Payable

The following table summarizes the carrying value of notes payable at December 31, 2019 and 2018, respectively.

Millions of dollars	2019		2018
Commercial paper	$	274	$	—
Short-term borrowings to banks	20		1,034
Total notes payable	$	294	$	1,034