Debt (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Schedule of company's debt

Our debt consisted of the following:

	Stated interest rate	Effective interest rate	September 30, 2022(1)		December 31,  2021(1)
			(in millions)
Short-term debt:
Senior unsecured term loans:
$380 million term loan, due May 2022	1.54%	1.64%	$	—	$	380
$380 million term loan, due May 2023	4.13%	4.22%	380		—
Total short-term debt			$	380	$	380
Long-term debt:
Senior unsecured term loans:
$1,925 million term loan, due January 2025	4.50%	4.81%	$	1,228	$	1,298
Senior unsecured notes:
$500 million notes, due May 2023	2.95%	3.17%	499		498
$500 million notes, due May 2025	3.63%	3.76%	498		497
$750 million notes due May 2030	4.38%	4.50%	739		738
$1,000 million notes, due February 2031	2.30%	2.38%	991		990
$250 million notes, due July 2032	7.13%	7.43%	247		247
$300 million notes, due July 2033	5.50%	5.88%	159		158
$300 million notes, due December 2040	5.95%	6.03%	216		216
Notes payable and finance leases due on various dates through fiscal 2032	1.84%-4.30%	Various	45		54
Total long-term debt			4,622		4,696
Less current portion			(647)		(103)
Total long-term debt, net of current portion			$	3,975	$	4,593

(1) The carrying amounts of the senior unsecured term loans and notes as of September 30, 2022, and December 31, 2021, include the remaining principal outstanding of $4,994 million and $5,065 million, respectively, less total unamortized debt discounts and deferred debt issuances costs of $37 million and $43 million, respectively.