Borrowings and Credit Arrangements (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Carrying value of long-term debt

The 2018 Notes consisted of the following at the time of issuance:

In millions
3.125% senior notes due March 2020	$	2,000
Floating rate notes due March 2020	1,000
3.35% senior notes due March 2021	3,000
Floating rate notes due March 2021	1,000
3.7% senior notes due March 2023	6,000
4.1% senior notes due March 2025	5,000
4.3% senior notes due March 2028	9,000
4.78% senior notes due March 2038	5,000
5.05% senior notes due March 2048	8,000
Total debt principal	$	40,000

The following table is a summary of the Company’s borrowings as of December 31, 2019 and 2018:

In millions	2019			2018
Short-term debt
Commercial paper	$	—		$	720
Long-term debt
2.2% senior notes due March 2019	—			375
2.25% senior notes due August 2019	—			850
3.125% senior notes due March 2020	723			2,000
Floating rate notes due March 2020 (2.515% and 3.397% at December 31, 2019 and 2018)	277			1,000
2.8% senior notes due July 2020	2,750			2,750
3.35% senior notes due March 2021	2,038			3,000
Floating rate notes due March 2021 (2.605% and 3.487% at December 31, 2019 and 2018)	1,000			1,000
4.125% senior notes due May 2021	222			550
2.125% senior notes due June 2021	1,750			1,750
4.125% senior notes due June 2021	203			500
5.45% senior notes due June 2021	187			600
3-year tranche term loan due November 2021	—			3,000
3.5% senior notes due July 2022	1,500			1,500
2.75% senior notes due November 2022	1,000			1,000
2.75% senior notes due December 2022	1,250			1,250
4.75% senior notes due December 2022	399			399
3.7% senior notes due March 2023	6,000			6,000
2.8% senior notes due June 2023	1,300			1,300
4% senior notes due December 2023	1,250			1,250
2.625% senior notes due August 2024	1,000			—
3.375% senior notes due August 2024	650			650
3.5% senior notes due November 2024	750			750
5% senior notes due December 2024	299			299
4.1% senior notes due March 2025	5,000			5,000
3.875% senior notes due July 2025	2,828			2,828
2.875% senior notes due June 2026	1,750			1,750
3% senior notes due August 2026	750			—
6.25% senior notes due June 2027	372			372
4.3% senior notes due March 2028	9,000			9,000
3.25% senior notes due August 2029	1,750			—
4.875% senior notes due July 2035	652			652
6.625% senior notes due June 2036	771			771
6.75% senior notes due December 2037	533			533
4.78% senior notes due March 2038	5,000			5,000
6.125% senior notes due September 2039	447			447
5.75% senior notes due May 2041	133			133
4.5% senior notes due May 2042	500			500
4.125% senior notes due November 2042	500			500
5.3% senior notes due December 2043	750			750
4.75% senior notes due March 2044	375			375
5.125% senior notes due July 2045	3,500			3,500
3.875% senior notes due August 2047	1,000			1,000
5.05% senior notes due March 2048	8,000			8,000
Finance lease liabilities	808			642
Other	279			19
Total debt principal	69,246			74,265
Debt premiums	262			302
Debt discounts and deferred financing costs	(1,028		)	(1,138		)
	68,480			73,429
Less:
Short-term debt (commercial paper)	—			(720		)
Current portion of long-term debt	(3,781		)	(1,265		)
Long-term debt	$	64,699		$	71,444

Schedule of maturities of long-term debt

The following is a summary of the Company’s required repayments of debt principal due during each of the next five years and thereafter, as of December 31, 2019:

In millions
2020	$	3,754
2021	5,404
2022	4,153
2023	8,554
2024	2,704
Thereafter	43,869
Total	68,438
Finance lease liabilities (1)	808
Total debt principal	$	69,246

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(1)

See Note 6 ‘‘Leases’’ for a summary of maturities of the Company’s finance lease liabilities.