Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Long-term debt outstanding

The company’s long-term debt outstanding at year-end 2023 and 2022 was as follows:

			At December 31
			2023		2022
	Weighted Average Interest Rate (%)1	Range of Interest Rates (%)2	Principal		Principal
Notes due 2024	3.291	2.895 - 3.900	$	1,650	$	1,650
Notes due 2025	1.724	0.687 - 3.326	4,000		4,000
Notes due 2026		2.954	2,250		2,250
Notes due 2027	2.379	1.018 - 8.000	2,000		2,000
Notes due 2028		3.850	600		600
Notes due 2029		3.250	500		500
Notes due 2030		2.236	1,500		1,500
Debentures due 2031		8.625	102		102
Debentures due 2032	8.416	8.000 - 8.625	183		183
Notes due 2040		2.978	293		293
Notes due 2041		6.000	397		397
Notes due 2043		5.250	330		330
Notes due 2044		5.050	222		222
Notes due 2047		4.950	187		187
Notes due 2049		4.200	237		237
Notes due 2050	2.763	2.343 - 3.078	1,750		1,750
Debentures due 2097		7.250	60		60
Bank loans due 2023		-	—		91
Medium-term notes, maturing from 2023 to 2038	6.599	5.331 - 7.840	20		23
Notes due 2023			—		2,600
Total including debt due within one year			16,281		18,975
Debt due within one year			(1,650)		(2,694)
Fair market value adjustment for debt acquired in the Noble acquisition			578		664
Reclassified from short-term debt			4,543		4,050
Unamortized discounts and debt issuance costs			(19)		(23)
Finance lease liabilities3			574		403
Total long-term debt			$	20,307	$	21,375
1 Weighted-average interest rate at December 31, 2023.
2 Range of interest rates at December 31, 2023.
3 For details on finance lease liabilities, see Note 5 Lease Commitments.