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Long-Term Debt and Short-Term Borrowings (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments Long-term debt and short-term borrowings as of December 31 consisted of the following:
Long-Term Debt:
(Millions)Currency/ Fixed vs. FloatingEffective Interest RateFinal Maturity DateCarrying Value
Description / 2023 Principal Amount20232022
Registered note (repaid in 2023)
USD Fixed— %2023$— $500 
Medium-term note (repaid in 2023)
USD Fixed— %2023— 650 
Medium-term note (repaid in 2023)
EUR Fixed— %2023— 639 
Medium-term note ($300 million)
USD Fixed3.30 %2024300 300 
Medium-term note ($500 million)
USD Fixed2.98 %2024500 501 
Medium-term note ($300 million)
USD Floating5.96 %2024300 300 
Registered note ($750 million)
USD Fixed2.12 %2025748 747 
Registered note ($500 million)
USD Fixed2.67 %2025499 499 
Medium-term note ($550 million)
USD Fixed3.04 %2025549 549 
Medium-term note ($650 million)
USD Fixed2.37 %2026647 646 
Medium-term note (€750 million)
EUR Fixed1.65 %2026821 792 
Floating rate note ($19 million)
USD Floating5.22 %202718 18 
Medium-term note ($850 million)
USD Fixed2.95 %2027846 845 
30-year debenture ($220 million)
USD Fixed6.44 %2028223 223 
Floating rate note ($150 million)
USD Floating8.08 %2028131 129 
Floating rate note ($150 million)
USD Floating8.03 %2028132 129 
Floating rate note ($250 million)
USD Floating7.62 %2028216 211 
Floating rate note ($150 million)
USD Floating7.57 %2028130 127 
Floating rate note ($100 million)
USD Floating7.66 %202886 84 
Medium-term note ($300 million)
USD Fixed3.62 %2028598 598 
Medium-term note ($800 million)
USD Fixed3.38 %2029798 797 
Registered note ($1 billion)
USD Fixed2.50 %2029991 989 
Registered note ($600 million)
USD Fixed3.09 %2030597 596 
Medium-term note (€500 million)
EUR Fixed1.90 %2030546 526 
Medium-term note (€500 million)
EUR Fixed1.54 %2031549 530 
30-year bond ($555 million)
USD Fixed5.73 %2037552 552 
Floating rate note ($52 million)
USD Floating5.31 %204052 52 
Floating rate note ($95 million)
USD Floating5.31 %204194 96 
Medium-term note ($325 million)
USD Fixed4.05 %2044316 315 
Floating rate note ($53 million)
USD Floating5.31 %204453 53 
Medium-term note ($500 million)
USD Fixed3.37 %2046479 478 
Medium-term note ($500 million)
USD Fixed3.68 %2047493 492 
Medium-term note ($650 million)
USD Fixed4.07 %2048639 638 
Medium-term note ($500 million)
USD Fixed3.78 %2048504 504 
Registered note ($500 million)
USD Fixed3.37 %2049486 486 
Registered note ($350 million)
USD Fixed3.72 %2050346 346 
Other borrowingsVarious0.11 %2024-20291 2 
Total long-term debt14,240 15,939 
Less: current portion of long-term debt1,152 1,938 
Long-term debt (excluding current portion)$13,088 $14,001 
Schedule of Post Swap Borrowing Total Long Term Debt by Fixed or Floating Rate
Post-Swap Borrowing (Long-Term Debt, Including Current Portion):
20232022
(Millions)Carrying ValueEffective Interest RateCarrying ValueEffective Interest Rate
Fixed-rate debt$13,027 3.09 %$14,738 2.93 %
Floating-rate debt1,213 6.88 %1,201 5.70 %
Total long-term debt, including current portion$14,240 $15,939 
Schedule of Short-Term Debt
Short-Term Borrowings and Current Portion of Long-Term Debt:
Effective Interest RateCarrying Value
(Millions)20232022
Current portion of long-term debt3.94 %$1,152 $1,938 
U.S. dollar commercial paper5.65 %1,795 — 
Total short-term borrowings and current portion of long-term debt$2,947 $1,938 
Schedule of Maturities of Long-Term Debt The maturities of long-term debt for the periods subsequent to December 31, 2023 are as follows (in millions):
20242025202620272028
After 2028
Total
$1,152$1,867$1,563$846$818$7,994$14,240