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Long-Term Debt and Short-Term Borrowings (Tables) | 12 Months Ended
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Dec. 31, 2021
Debt Disclosure [Abstract] |
Schedule of long-term debt | Long-term debt and short-term borrowings as of December 31 consisted of the following: Long-Term Debt
(Millions) |  | Currency/ Fixed vs. Floating |  | Effective Interest Rate |  | Final Maturity Date |  | Carrying Value
Description / 2021 Principal Amount |  |  |  |  | 2021 |  | 2020
Eurobond (repaid in 2021) |  | EUR Fixed |  | — | % |  | 2021 |  | — |  |  | 367 |
Eurobond (repaid in 2021) |  | EUR Floating |  | — | % |  | 2021 |  | — |  |  | 374 |
Medium-term note (repaid in 2021) |  | USD Fixed |  | — | % |  | 2021 |  | — |  |  | 449 |
Medium-term note (€500 million) |  | EUR Fixed |  | 0.45 | % |  | 2022 |  | 567 |  |  | 612 |
Medium-term note ($600 million) |  | USD Fixed |  | 2.17 | % |  | 2022 |  | 599 |  |  | 598 |
Medium-term note (€600 million) |  | EUR Fixed |  | 1.14 | % |  | 2023 |  | 679 |  |  | 731 |
Registered note ($500 million) |  | USD Fixed |  | 1.86 | % |  | 2023 |  | 499 |  |  | 498 |
Medium-term note ($650 million) |  | USD Fixed |  | 2.26 | % |  | 2023 |  | 649 |  |  | 649 |
Medium-term note ($300 million) |  | USD Fixed |  | 3.30 | % |  | 2024 |  | 299 |  |  | 299 |
Medium-term note ($500 million) |  | USD Fixed |  | 2.98 | % |  | 2024 |  | 501 |  |  | 502 |
Medium-term note ($300 million) |  | USD Floating |  | 0.42 | % |  | 2024 |  | 300 |  |  | 299 |
Medium-term note ($550 million) |  | USD Fixed |  | 3.04 | % |  | 2025 |  | 548 |  |  | 548 |
Registered note ($750 million) |  | USD Fixed |  | 2.12 | % |  | 2025 |  | 746 |  |  | 744 |
Registered note ($500 million) |  | USD Fixed |  | 2.67 | % |  | 2025 |  | 498 |  |  | 498 |
Medium-term note (€750 million) |  | EUR Fixed |  | 1.65 | % |  | 2026 |  | 842 |  |  | 908 |
Medium-term note ($650 million) |  | USD Fixed |  | 2.37 | % |  | 2026 |  | 645 |  |  | 644 |
Medium-term note ($850 million) |  | USD Fixed |  | 2.95 | % |  | 2027 |  | 844 |  |  | 843 |
Floating rate note ($19 million) |  | USD Floating |  | — | % |  | 2027 |  | 19 |  |  | 19 |
30-year debenture ($220 million) |  | USD Fixed |  | 6.44 | % |  | 2028 |  | 224 |  |  | 225 |
Floating rate note ($250 million) |  | USD Floating |  | 2.07 | % |  | 2028 |  | 240 |  |  | — |
Floating rate note ($150 million) |  | USD Floating |  | 2.02 | % |  | 2028 |  | 144 |  |  | — |
Floating rate note ($100 million) |  | USD Floating |  | 2.11 | % |  | 2028 |  | 96 |  |  | — |
Medium-term note ($600 million) |  | USD Fixed |  | 3.62 | % |  | 2028 |  | 598 |  |  | 598 |
Floating rate note ($150 million) |  | USD Floating |  | 2.53 | % |  | 2028 |  | 147 |  |  | — |
Floating rate note ($150 million) |  | USD Floating |  | 2.48 | % |  | 2028 |  | 147 |  |  | — |
Registered note ($1 billion) |  | USD Fixed |  | 2.50 | % |  | 2029 |  | 988 |  |  | 986 |
Medium-term note ($800 million) |  | USD Fixed |  | 3.38 | % |  | 2029 |  | 797 |  |  | 796 |
Medium-term note (€500 million) |  | EUR Fixed |  | 1.90 | % |  | 2030 |  | 560 |  |  | 604 |
Registered note ($600 million) |  | USD Fixed |  | 3.09 | % |  | 2030 |  | 596 |  |  | 595 |
Medium-term note (€500 million) |  | EUR Fixed |  | 1.54 | % |  | 2031 |  | 563 |  |  | 608 |
30-year bond ($555 million) |  | USD Fixed |  | 5.73 | % |  | 2037 |  | 551 |  |  | 551 |
Floating rate note ($52 million) |  | USD Floating |  | — | % |  | 2040 |  | 52 |  |  | 51 |
Floating rate note ($96 million) |  | USD Floating |  | — | % |  | 2041 |  | 96 |  |  | 96 |
Medium-term note ($325 million) |  | USD Fixed |  | 4.05 | % |  | 2044 |  | 315 |  |  | 315 |
Floating rate note ($54 million) |  | USD Floating |  | — | % |  | 2044 |  | 53 |  |  | 53 |
Medium-term note ($500 million) |  | USD Fixed |  | 3.37 | % |  | 2046 |  | 477 |  |  | 476 |
Medium-term note ($500 million) |  | USD Fixed |  | 3.68 | % |  | 2047 |  | 492 |  |  | 492 |
Medium-term note ($650 million) |  | USD Fixed |  | 4.07 | % |  | 2048 |  | 638 |  |  | 637 |
Medium-term note ($500 million) |  | USD Fixed |  | 3.78 | % |  | 2048 |  | 505 |  |  | 505 |
Registered note ($500 million) |  | USD Fixed |  | 3.37 | % |  | 2049 |  | 485 |  |  | 969 |
Registered note ($350 million) |  | USD Fixed |  | 3.72 | % |  | 2050 |  | 346 |  |  | 642 |
Other borrowings |  | Various |  | 0.19 | % |  | 2022-2029 |  | 2 |  |  | 2 |
Total long-term debt |  |  |  |  |  |  |  | 17,347 |  |  | 18,783 |
Less: current portion of long-term debt |  |  |  |  |  |  |  | 1,291 |  |  | 794 |
Long-term debt (excluding current portion) |  |  |  |  |  |  |  | $ | 16,056 |  |  | $ | 17,989 |
Schedule of post-swap borrowing (long-term debt, including current portion) | Post-Swap Borrowing (Long-Term Debt, Including Current Portion)
|  | 2021 |  | 2020
(Millions) |  | Carrying Value |  | Effective Interest Rate |  | Carrying Value |  | Effective Interest Rate
Fixed-rate debt |  | $ | 16,053 |  |  | 2.80 | % |  | $ | 17,889 |  |  | 2.80 | %
Floating-rate debt |  | 1,294 |  |  | 1.43 | % |  | 894 |  |  | 0.06 | %
Total long-term debt, including current portion |  | $ | 17,347 |  |  |  |  | $ | 18,783 |  |  |
Schedule of short-term borrowings and current portion of long-term debt | Short-Term Borrowings and Current Portion of Long-Term Debt
|  | Effective Interest Rate |  | Carrying Value
(Millions) |  |  | 2021 |  | 2020
Current portion of long-term debt |  | 1.20 | % |  | $ | 1,291 |  |  | $ | 794 |
U.S. dollar commercial paper |  | — | % |  | — |  |  | — |
Other borrowings |  | 4.10 | % |  | 16 |  |  | 12 |
Total short-term borrowings and current portion of long-term debt |  |  |  | $ | 1,307 |  |  | $ | 806 |
Schedule of maturities of long-term debt | The maturities of long-term debt for the periods subsequent to December 31, 2021 are as follows (in millions):
2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | After 2026 |  | Total
$ | 1,291 |  |  | $ | 1,923 |  |  | $ | 1,100 |  |  | $ | 1,792 |  |  | $ | 1,487 |  |  | $ | 9,754 |  |  | $ | 17,347 |

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21506-112644 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69B -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69E -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21521-112644 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644 + Details
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- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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