Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Summary of Debt

The following is a summary of outstanding debt at December 31, (in millions):

	2020		2019
4.70% senior notes due 2020	$	—	$	305
3.15% senior notes due 2021	94		94
3.75% senior notes due 2021	369		342
4.00% senior notes due 2022	250		249
3.85% senior notes due 2023	1,090		1,388
4.00% senior notes due 2024	200		199
4.875% senior notes due 2025	492		—
3.90% senior notes due 2025	47		47
4.20% senior notes due 2026	1,973		1,986
5.375% senior notes due 2036	416		416
5.50% senior notes due 2046	657		657
Commercial paper	—		25
Other debt	19		15
Total debt	5,607		5,723
Short-term debt and current portion of long-term debt	(466)		(332)
Long-term debt	$	5,141	$	5,391

Schedule of Maturities of Long-term Debt

The Company’s debt maturities for the five years following December 31, 2020 and thereafter are as follows (in millions):

2021	2022	2023	2024	2025	Thereafter	Total
$465	$253	$1,095	$201	$547	$3,072	$5,633

Schedule of Fair Value of Senior Notes

The fair values of the Company’s senior notes are based on quoted market prices and are as follows at December 31, (in millions):

	2020				2019
	Fair Value		Book Value		Fair Value		Book Value
Senior notes	$	6,277	$	5,588	$	5,990	$	5,683