DEBT (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Summary of Outstanding Debt

Outstanding debt at September 30, 2022 consists of the following (in millions): 

September 30, 2022	Outstanding  Principal  Amount		Unamortized Debt Discount and Debt Issuance Cost		Carrying  Value
Current liabilities:
2.15% (€750 Million) Senior Notes due November 2022	$	735	$	—	$	735
2.75% Senior Notes due March 2023	500		(1)		499
Total current liabilities	$	1,235	$	(1)	$	1,234
Long-term debt:
2.375% (€1 Billion) Senior Notes due September 2024	$	980	$	(4)	$	976
3.65% Senior Notes due March 2025	500		(1)		499
0.1% (€950 Million) Senior Notes due March 2025	931		(3)		928
0.75% Convertible Senior Notes due May 2025	863		(10)		853
3.6% Senior Notes due June 2026	1,000		(3)		997
1.8% (€1 Billion) Senior Notes due March 2027	980		(3)		977
3.55% Senior Notes due March 2028	500		(2)		498
0.5% (€750 Million) Senior Notes due March 2028	735		(4)		731
4.625% Senior Notes due April 2030	1,500		(9)		1,491
Total long-term debt	$	7,989	$	(39)	$	7,950

Outstanding debt at December 31, 2021 consists of the following (in millions): 

December 31, 2021	Outstanding  Principal  Amount		Unamortized Debt Discount and Debt Issuance Cost		Carrying  Value
Current Liabilities:
0.8% (€1 Billion) Senior Notes due March 2022	$	1,137	$	—	$	1,137
2.15% (€750 Million) Senior Notes due November 2022	853		(1)		852
Total current liabilities	$	1,990	$	(1)	$	1,989
Long-term debt:
2.75% Senior Notes due March 2023	$	500	$	(1)	$	499
2.375% (€1 Billion) Senior Notes due September 2024	1,137		(5)		1,132
3.65% Senior Notes due March 2025	500		(1)		499
0.1% (€950 Million) Senior Notes due March 2025	1,080		(4)		1,076
0.75% Convertible Senior Notes due May 2025	863		(99)		764
3.6% Senior Notes due June 2026	1,000		(4)		996
1.8% (€1 Billion) Senior Notes due March 2027	1,137		(3)		1,134
3.55% Senior Notes due March 2028	500		(2)		498
0.5% (€750 Million) Senior Notes due March 2028	853		(5)		848
4.625% Senior Notes due April 2030	1,500		(9)		1,491
Total long-term debt	$	9,070	$	(133)	$	8,937

Summary of Interest Expense

The following table summarizes the interest expense and weighted-average effective interest rates related to the convertible senior notes (in millions, except for interest rates). The remaining period for amortization of debt issuance costs and debt discount, as applicable, is the period until the stated maturity date for the respective debt.

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2022			2021			2022			2021
Coupon interest expense	$	2		$	3		$	5		$	11
Amortization of debt discount and debt issuance costs	1			12			3			36
Total interest expense	$	3		$	15		$	8		$	47
Weighted-average effective interest rate	1.2		%	3.9		%	1.2		%	3.7		%

The following table summarizes the interest expenses related to other senior notes (in millions):

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2022		2021		2022		2021
Coupon interest expense	$	54	$	60	$	168	$	198
Amortization of debt discount and debt issuance costs	2		2		7		8
Total interest expense	$	56	$	62	$	175	$	206