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Debt and Redeemable Preferred Securities of Subsidiaries
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Debt and Redeemable Preferred Securities of Subsidiaries Debt and Redeemable Preferred Securities of Subsidiaries
Long-term debt is composed of the following:
Weighted-
Average
Interest
Rate		MaturitiesDecember 31
20212020
Notes and debentures3.2%2022 - 2050$8,198 $7,897 
Industrial development revenue bonds0.4%2023 - 2045169 169 
Bank loans and other financings in various currencies2.7%2022 - 203989 75 
Total long-term debt8,456 8,141 
Less current portion315 263 
Long-term portion$8,141 $7,878 
Scheduled maturities of long-term debt for the next five years are $317 in 2022, $473 in 2023, $574 in 2024, $558 in 2025 and $407 in 2026.
In October 2021, we issued $600 aggregate principal amount of 2.00% notes due November 2, 2031. Proceeds from the offering were used for general corporate purposes.
In September 2020, we issued $600 aggregate principal amount of 1.05% notes due September 15, 2027. Proceeds from the offering together with cash on hand and borrowings under our commercial paper program were used to fund the acquisition of Softex Indonesia.
In March 2020, we issued $750 aggregate principal amount of 3.10% notes due March 26, 2030. Proceeds from the offering were used for general corporate purposes including the repayment of a portion of our commercial paper indebtedness.
In February 2020, we issued $500 aggregate principal amount of 2.875% notes due February 7, 2050. Proceeds from the offering were used for general corporate purposes including the repayment of a portion of our commercial paper indebtedness.
We maintain a $2.0 billion revolving credit facility which expires in June 2026 and a $750 revolving credit facility which expires in June 2022.  These facilities, currently unused, support our commercial paper program, and would provide liquidity in the event our access to the commercial paper markets is unavailable for any reason.
Our subsidiary in Central America has outstanding redeemable preferred securities that are held by a noncontrolling interest.