XML 64 R36.htm IDEA: XBRL DOCUMENT v3.20.2
Borrowings and Lines of Credit (Tables)
6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Schedule of Short-Term Debt
(dollars in millions)June 30, 2020December 31, 2019
Commercial paper$—  $—  
Other borrowings33  34  
Total short-term borrowings$33  $34  
Schedule of Long-term Debt
Long-term debt as of June 30, 2020 and December 31, 2019 consisted of the following:
(dollars in millions)June 30, 2020December 31, 2019
LIBOR plus 112.5 bps term loan due 2023 2,4
$1,000  $—  
LIBOR plus 45 bps floating rate notes due 2023 1,3
500  —  
2.056% notes due 2025 3
1,300  —  
2.293% notes due 2027 3
500  —  
2.565% notes due 2030 3
1,500  —  
3.112% notes due 2040 3
750  —  
3.362% notes due 2050 3
750  —  
Other (including finance leases)  
Total principal long-term debt$6,306  $ 
Other (discounts and debt issuance costs)(46) —  
Total long-term debt$6,260  $ 
Less: current portion—  —  
Long-term debt, net of current portion$6,260  $ 
1 The three-month LIBOR rate at June 30, 2020 was approximately 0.30%.
2 The six-month LIBOR rate at June 30, 2020 was approximately 0.37%.
3 On February 27, 2020, we issued $5.3 billion of unsecured, unsubordinated notes. We may redeem these notes at our option pursuant to their terms.
4 On March 27, 2020, we drew down $1.0 billion of our unsecured, unsubordinated term loan.
Schedule of Maturities of Long-term Debt The schedule of principal payments required on long-term debt for the next five years and thereafter is:
(dollars in millions)
2020$—  
2021 
2022 
20231,501  
2024 
Thereafter4,800  
Total $6,306