Financing arrangements (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Carrying values and the fixed contractual coupon rates of long-term borrowings

The carrying values and the fixed contractual coupon rates of our borrowings were as follows (in millions):

	December 31,
	2017			2016
Short-term loan	$	—		$	605
2.125% notes due 2017 (2.125% 2017 Notes)	—			1,250
Floating Rate Notes due 2017	—			600
1.25% notes due 2017 (1.25% 2017 Notes)	—			850
5.85% notes due 2017 (5.85% 2017 Notes)	—			1,100
6.15% notes due 2018 (6.15% 2018 Notes)	500			500
4.375% €550 million notes due 2018 (4.375% 2018 euro Notes)	653			577
5.70% notes due 2019 (5.70% 2019 Notes)	1,000			1,000
1.90% notes due 2019 (1.90% 2019 Notes)	700			—
Floating Rate Notes due 2019	550			250
2.20% notes due 2019 (2.20% 2019 Notes)	1,400			1,400
2.125% €675 million notes due 2019 (2.125% 2019 euro Notes)	810			710
4.50% notes due 2020 (4.50% 2020 Notes)	300			300
2.125% notes due 2020 (2.125% 2020 Notes)	750			750
Floating Rate Notes due 2020	300			—
2.20% notes due 2020 (2.20% 2020 Notes)	700			—
3.45% notes due 2020 (3.45% 2020 Notes)	900			900
4.10% notes due 2021 (4.10% 2021 Notes)	1,000			1,000
1.85% notes due 2021 (1.85% 2021 Notes)	750			750
3.875% notes due 2021 (3.875% 2021 Notes)	1,750			1,750
1.25% €1,250 million notes due 2022 (1.25% 2022 euro Notes)	1,501			1,315
2.70% notes due 2022 (2.70% 2022 Notes)	500			500
2.65% notes due 2022 (2.65% 2022 Notes)	1,500			—
3.625% notes due 2022 (3.625% 2022 Notes)	750			750
0.41% CHF700 million bonds due 2023 (0.41% 2023 Swiss franc Bonds)	719			687
2.25% notes due 2023 (2.25% 2023 Notes)	750			750
3.625% notes due 2024 (3.625% 2024 Notes)	1,400			1,400
3.125% notes due 2025 (3.125% 2025 Notes)	1,000			1,000
2.00% €750 million notes due 2026 (2.00% 2026 euro Notes)	901			789
2.60% notes due 2026 (2.60% 2026 Notes)	1,250			1,250
5.50% £475 million notes due 2026 (5.50% 2026 pound sterling Notes)	642			586
3.20% notes due 2027 (3.20% 2027 Notes)	1,000			—
4.00% £700 million notes due 2029 (4.00% 2029 pound sterling Notes)	946			864
6.375% notes due 2037 (6.375% 2037 Notes)	552			552
6.90% notes due 2038 (6.90% 2038 Notes)	291			291
6.40% notes due 2039 (6.40% 2039 Notes)	466			466
5.75% notes due 2040 (5.75% 2040 Notes)	412			412
4.95% notes due 2041 (4.95% 2041 Notes)	600			600
5.15% notes due 2041 (5.15% 2041 Notes)	974			974
5.65% notes due 2042 (5.65% 2042 Notes)	487			487
5.375% notes due 2043 (5.375% 2043 Notes)	261			261
4.40% notes due 2045 (4.40% 2045 Notes)	2,250			2,250
4.563% notes due 2048 (4.563% 2048 Notes)	1,415			1,415
4.663% notes due 2051 (4.663% 2051 Notes)	3,541			3,541
Other notes due 2097	100			100
Unamortized bond discounts, premiums and issuance costs, net	(929		)	(936		)
Total carrying value of debt	35,342			34,596
Less current portion	(1,152		)	(4,403		)
Total noncurrent debt	$	34,190		$	30,193

Schedule of long-term debt instruments exchanged

The following principal amounts of each series of Old Notes were validly tendered and subsequently canceled (in millions):

	Principal amount exchanged
6.375% 2037 Notes	$	348
6.90% 2038 Notes	209
6.40% 2039 Notes	534
5.75% 2040 Notes	288
5.15% 2041 Notes	1,276
5.65% 2042 Notes	763
5.375% 2043 Notes	739

Schedule of interest rate derivatives

The effective interest rates on notes for which we have entered into interest rate swap contracts and the related notional amounts of these contracts were as follows (dollar amounts in millions):

		December 31,
		2017		2016
Notes	Effective interest rate	Notional amount
1.25% 2017 Notes	LIBOR + 0.4%	$	—	$	850
2.20% 2019 Notes	LIBOR + 0.6%	1,400		1,400
3.45% 2020 Notes	LIBOR + 1.1%	900		900
4.10% 2021 Notes	LIBOR + 1.7%	1,000		1,000
3.875% 2021 Notes	LIBOR + 2.0%	1,750		1,750
3.625% 2022 Notes	LIBOR + 1.6%	750		750
3.625% 2024 Notes	LIBOR + 1.4%	1,400		—
3.125% 2025 Notes	LIBOR + 0.9%	1,000		—
2.600% 2026 Notes	LIBOR + 0.3%	1,250		—
Total notional amounts		$	9,450	$	6,650

Aggregate contractual maturities of long-term debt obligations

The aggregate contractual maturities of all borrowings due subsequent to December 31, 2017, are as follows (in millions):

Maturity date	Amount
2018	$	1,153
2019	4,460
2020	2,950
2021	3,500
2022	4,251
Thereafter	19,957
Total	$	36,271