Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Company’s outstanding debt

The Company’s outstanding debt is as follows:

December 31,
(In millions)	2019		2018
Short-term:
Current portion of long-term debt	1,215		$	314
	1,215		314
Long-term:
Senior notes – 2.35% due 2019	—		300
Senior notes – 2.35% due 2020	500		499
Senior notes – 3.50% due 2020	698		—
Senior notes – 4.80% due 2021	499		499
Senior notes – Floating rate due 2021	298		—
Senior notes – 2.75% due 2022	498		497
Senior notes – 3.30% due 2023	349		348
Senior notes – 4.05% due 2023	249		249
Senior notes – 3.50% due 2024	597		597
Senior notes – 3.875% due 2024	994		—
Senior notes – 3.50% due 2025	497		496
Senior notes – 1.349% due 2026	609		—
Senior notes – 3.75% due 2026	597		596
Senior notes – 4.375% due 2029	1,499		—
Senior notes – 1.979% due 2030	607		—
Senior notes – 5.875% due 2033	298		297
Senior notes – 4.75% due 2039	494		—
Senior notes – 4.35% due 2047	492		492
Senior notes – 4.20% due 2048	592		592
Senior notes – 4.90% due 2049	1,237		—
Mortgage – 5.70% due 2035	345		358
Other	7		4
	11,956		5,824
Less current portion	1,215		314
	$	10,741	$	5,510

Estimated fair value of short-term and long-term debt

The fair value amounts shown below are not necessarily indicative of the amounts that the Company would realize upon disposition, nor do they indicate the Company’s intent or need to dispose of the financial instrument.

	December 31, 2019				December 31, 2018
(In millions of dollars)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Short-term debt	$	1,215	$	1,229	$	314	$	313
Long-term debt	$	10,741	$	11,953	$	5,510	$	5,437