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Debt (Tables)
12 Months Ended
Dec. 31, 2020
Debt  
Components of Debt

The following table summarizes the major components of debt as of each balance sheet date (in millions) and provides the maturities and interest rate ranges of each major category as of December 31:

    

2020

    

2019

Commercial paper program (weighted average interest rate of 0.4% as of December 31, 2020)

$

1,814

$

Senior notes, maturing through 2050, interest rates ranging from 0.75% to 7.75% (weighted average interest rate of 3.3% as of December 31, 2020 and 3.9% as of December 31, 2019)

 

8,465

 

9,965

Canadian senior notes, C$500 million maturing September 2026, interest rate of 2.6%

393

385

Tax-exempt bonds, maturing through 2048, fixed and variable interest rates ranging from 0.1% to 4.3% (weighted average interest rate of 1.7% as of December 31, 2020 and 2.3% as of December 31, 2019)

 

2,571

 

2,523

Financing leases and other, maturing through 2085, weighted average interest rate of 4.6% (a)

 

652

 

710

Debt issuance costs, discounts and other

 

(85)

 

(85)

 

13,810

 

13,498

Current portion of long-term debt

 

551

 

218

$

13,259

$

13,280

(a)Excluding our landfill financing leases, the maturities of our financing leases and other debt obligations extend through 2059.