XML 50 R18.htm IDEA: XBRL DOCUMENT v3.20.4
Debt
 12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Debt DEBT
Debt consisted of the following:
December 3120202019
Fixed-rate notes due:Interest rate:
May 20202.875%$— $2,000 
May 20213.000%2,000 2,000 
July 20213.875%500 500 
November 20222.250%1,000 1,000 
May 20233.375%750 750 
August 20231.875%500 500 
November 20242.375%500 500 
April 20253.250%750 — 
May 20253.500%750 750 
August 20262.125%500 500 
April 20273.500%750 — 
November 20272.625%500 500 
May 20283.750%1,000 1,000 
April 20303.625%1,000 — 
April 20404.250%750 — 
November 20423.600%500 500 
April 20504.250%750 — 
Floating-rate notes due:
May 20203-month LIBOR +0.29%— 500 
May 20213-month LIBOR +0.38%500 500 
OtherVarious117 505 
Total debt principal13,117 12,005 
Less unamortized debt issuance costs
and discounts		119 75 
Total debt12,998 11,930 
Less current portion3,003 2,920 
Long-term debt$9,995 $9,010 
In March 2020, we issued $4 billion of fixed-rate notes. The proceeds were used to repay $2.5 billion of fixed- and floating-rate notes that matured in May 2020 and for general corporate purposes, including the repayment of a portion of our borrowings under our commercial paper program. We also amended two of our credit facilities to, among other things, extend their expiration dates.
Interest payments associated with our debt were $459 in 2020, $434 in 2019 and $312 in 2018.
The aggregate amounts of scheduled principal maturities of our debt are as follows:
Year Ended December 31Debt
Principal
2021$3,006 
20221,010 
20231,255 
2024505 
20251,503 
Thereafter5,838 
Total debt principal$13,117 
On December 31, 2020, we had no commercial paper outstanding, but we maintain the ability to access the commercial paper market in the future. Separately, we have $5 billion in committed bank credit facilities for general corporate purposes and working capital needs and to support our commercial paper issuances. These credit facilities include a $2 billion 364-day facility expiring in March 2021, a $2 billion multi-year facility expiring in March 2023 and a $1 billion multi-year facility expiring in March 2025. We may renew or replace these credit facilities in whole or in part at or prior to their expiration dates. We also have an effective shelf registration on file with the Securities and Exchange Commission that allows us to access the debt markets.
Our financing arrangements contain a number of customary covenants and restrictions. We were in compliance with all covenants and restrictions on December 31, 2020.