Debt (Tables)

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Components of Debt

Debt consisted of the following:

(DOLLARS IN MILLIONS)	Effective Interest Rate		March 31, 2021		December 31, 2020
2021 Euro Notes(1)	0.82	%	$	353	$	368
2022 Notes(3)	0.69	%	300		—
2023 Notes(1)	3.30	%	299		299
2024 Euro Notes(1)	1.88	%	587		614
2025 Notes(3)	1.22	%	1,001		—
2026 Euro Notes(1)	1.93	%	936		978
2027 Notes(3)	1.56	%	1,220		—
2028 Notes(1)	4.57	%	397		397
2030 Notes(3)	2.21	%	1,511		—
2040 Notes(3)	3.04	%	775		—
2047 Notes(1)	4.44	%	494		494
2048 Notes(1)	5.12	%	786		786
2050 Notes(3)	3.21	%	1,574		—
2018 Term Loan Facility(1)	3.65	%	240		240
2022 Term Loan Facility (1)	1.73	%	200		199
2024 Term Loan Facility(3)	1.46	%	625		—
2026 Term Loan Facility(3)	1.83	%	625		—
Amortizing Notes(1)	6.09	%	24		36
Bank overdrafts and other			11		2
Total debt			11,958		4,413
Less: Short-term borrowings(2)			(628)		(634)
Total Long-term debt			$	11,330	$	3,779

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(1)Amount is net of unamortized discount and debt issuance costs.

(2)Includes bank borrowings, overdrafts and current portion of long-term debt.

(3)Assumed by the Company as part of the N&B Merger.