Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Summary of outstanding debt

The following is a summary of outstanding debt (in millions):

As of December 31	2019		2018
Commercial paper	$	112	$	250
5.00% Senior Notes due September 2020	600		599
2.80% Senior Notes due March 2021	399		398
2.20% Senior Notes due November 2022	497		—
4.00% Senior Notes due November 2023	348		348
3.50% Senior Notes due June 2024	597		596
3.875% Senior Notes due December 2025	746		746
2.875% Senior Notes due May 2026 (EUR 500M)	550		562
8.205% Junior Subordinated Notes due January 2027	521		521
4.50% Senior Notes due December 2028	346		347
3.75% Senior Notes due May 2029	744		—
6.25% Senior Notes due September 2040	296		296
4.25% Senior Notes due December 2042	199		198
4.45% Senior Notes due May 2043	246		246
4.60% Senior Notes due June 2044	544		544
4.75% Senior Notes due May 2045	593		592
Other	1		1
Total debt	7,339		6,244
Less: Short-term debt and current portion of long-term debt	712		251
Total long-term debt	$	6,627	$	5,993

Repayments of long-term debt

Repayments of total debt are as follows (in millions):

2020	$	712
2021	400
2022	500
2023	350
2024	600
Thereafter	4,882
Total Repayments	7,444
Unamortized discounts, premiums, and debt issuance costs	(105		)
Total Debt	$	7,339

Schedule of Commercial Paper

Commercial paper outstanding, which is included in Short-term debt and current portion of long-term debt in the Company’s Consolidated Statements of Financial Position, is as follows (in millions):

As of December 31	2019		2018
Commercial paper outstanding	$	112	$	250

The weighted average commercial paper outstanding and its related interest rates are as follows (in millions, except percentages):

Years ended December 31	2019			2018
Weighted average commercial paper outstanding	$	511		$	580
Weighted average interest rate of commercial paper outstanding	0.27		%	0.84		%