Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Instrument [Line Items]

Components of Debt

Debt consisted of the following at December 31:

(DOLLARS IN MILLIONS)	Effective Interest Rate		2021		2020
2021 Euro Notes(1)	0.82	%	$	—	$	368
2022 Notes(3)	0.69	%	300		—
2023 Notes(1)	3.30	%	300		299
2024 Euro Notes(1)	1.88	%	565		614
2025 Notes(3)	1.22	%	1,001		—
2026 Euro Notes(1)	1.93	%	900		978
2027 Notes(3)	1.56	%	1,218		—
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	%	1,572		—
2018 Term Loan Facility(1)	3.65	%	—		240
2022 Term Loan Facility(1)	1.73	%	—		199
2024 Term Loan Facility(3)	1.43	%	625		—
2026 Term Loan Facility(3)	1.82	%	625		—
Amortizing Notes(1)	6.09	%	—		36
Commercial Paper(4)	—	%	324		—
Bank overdrafts and other			7		2
Total debt			$	11,400	$	4,413
Less: Short term borrowings(2)			(632)		(634)
Total Long-term debt			$	10,768	$	3,779

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

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

(3)Assumed by the Company as part of the N&B Merger and recorded at fair value.

(4)The effective interest rate of commercial paper issuances fluctuate as short-term interest rates and demand fluctuate, and deferred debt issuance costs are immaterial. Additionally, the effective interest rate of commercial paper is not meaningful as issuances do not materially differ from short-term interest rates. Proceeds from the issuance of commercial paper include $75 million of proceeds with original maturities greater than three months.

Debt Instrument Redemption

However, no make-whole premium will be paid for redemptions of each note on or after the following date:

Note	Redemption Date
2023 Notes	February 1, 2023
2024 Euro Notes	December 14, 2023
2026 Euro Notes	June 25, 2026
2028 Notes	June 26, 2028
2047 Notes	December 1, 2046
2048 Notes	March 26, 2048

Schedule of Maturities of Long-term Debt

The following table shows the contractual maturities of the Company's long-term debt as of December 31, 2021.

	Payments Due by Period
(DOLLARS IN MILLIONS)	Total		Less than 1 Year		1-3 Years		3-5 Years		More than 5 Years
Total Outstanding Borrowings	$	10,971	$	300	$	1,491	$	2,530	$	6,650

Nutrition & Biosciences, Inc [Member]

Debt Instrument [Line Items]

Debt Instrument Redemption

The redemption dates of each of the N&B Senior Notes are provided in the table below:

Notes	Redemption Date
2022 Notes	September 15, 2022
2025 Notes	September 1, 2025
2027 Notes	August 15, 2027
2030 Notes	August 1, 2030
2040 Notes	May 15, 2040
2050 Notes	June 1, 2050