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DEBT (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of outstanding debt
Outstanding debt consists of the following (in millions): 
December 31, 2023December 31, 2022
Outstanding
 Principal 
Amount
Carrying
 Value (1)
Outstanding
 Principal 
Amount
Carrying
 Value (1)
2.75% Senior Notes due March 2023 (2)
$— $— $500 $500 
2.375% (€1 Billion) Senior Notes due September 2024 (3)
1,105 1,104 1,067 1,064 
3.65% Senior Notes due March 2025
500 499 500 499 
0.1% (€950 Million) Senior Notes due March 2025
1,050 1,048 1,014 1,011 
0.75% Convertible Senior Notes due May 2025 (3)
862 857 863 854 
3.6% Senior Notes due June 2026
1,000 998 1,000 997 
4.0% (€750 Million) Senior Notes due November 2026
828 825 800 797 
1.8% (€1 Billion) Senior Notes due March 2027
1,105 1,103 1,067 1,065 
3.55% Senior Notes due March 2028
500 499 500 498 
0.5% (€750 Million) Senior Notes due March 2028
828 825 800 797 
3.625% (€500 Million) Senior Notes due November 2028
552 549 — — 
4.25% (€750 Million) Senior Notes due May 2029
828 823 800 794 
4.625% Senior Notes due April 2030
1,500 1,492 1,500 1,491 
4.5% (€1 Billion) Senior Notes due November 2031
1,105 1,098 1,067 1,060 
4.125% (€1.25 Billion) Senior Notes due May 2033
1,381 1,367 — — 
4.75% (€1 Billion) Senior Notes due November 2034
1,105 1,097 1,067 1,058 
Total outstanding debt$14,249 $14,184 $12,545 $12,485 
Short-term debt1,967 1,961 500 500 
Long-term debt$12,282 $12,223 $12,045 $11,985 
(1)    The carrying values differ from the outstanding principal amounts due to unamortized debt discounts and debt issuance costs of $65 million and $60 million as of December 31, 2023 and 2022, respectively.
(2)    Included in "Short-term debt" in the Consolidated Balance Sheet as of December 31, 2022.
(3)    Included in "Short-term debt" in the Consolidated Balance Sheet as of December 31, 2023.
Summary of information related to other senior notes outstanding The following table summarizes the information related to other senior notes outstanding at December 31, 2023:
Other Senior NotesDate of Issuance
Effective Interest Rate (1)
Timing of Interest Payments
2.375% Senior Notes due September 2024
September 20142.54 %Annually in September
3.65% Senior Notes due March 2025
March 20153.76 %Semi-annually in March and September
0.1% Senior Notes due March 2025
March 20210.30 %Annually in March
3.6% Senior Notes due June 2026
May 20163.70 %Semi-annually in June and December
4.0% Senior Notes due November 2026
November 20224.08 %Annually in November
1.8% Senior Notes due March 2027
March 20151.86 %Annually in March
3.55% Senior Notes due March 2028
August 20173.63 %Semi-annually in March and September
0.5% Senior Notes due March 2028
March 20210.63 %Annually in March
3.625% Senior Notes due November 2028
May 20233.74 %Annually in November
4.25% Senior Notes due May 2029
November 20224.35 %Annually in May
4.625% Senior Notes due April 2030
April 20204.72 %
Semi-annually in April and October
4.5% Senior Notes due November 2031
November 20224.57 %Annually in November
4.125% Senior Notes due May 2033
May 20234.26 %Annually in May
4.75% Senior Notes due November 2034
November 20224.81 %Annually in November
(1)    Represents the coupon interest rate adjusted for deferred debt issuance costs, premiums or discounts existing at the origination of the debt.