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v3.22.2

SHORT-TERM AND LONG-TERM DEBT (Tables) | 6 Months Ended
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Jun. 30, 2022
Disclosure of detailed information about borrowings [abstract] |
Schedule of detailed information about borrowings | Short-term debt, including the current portion of long-term debt, consisted of the following:
| June 30, 2022 |  | December 31, 2021
Short-term bank loans and other credit facilities including commercial paper 1 | 1,183 |  | 888
Current portion of long-term debt | 1,373 |  | 836
Lease obligations | 163 |  | 189
Total | 2,719 |  | 1,913
1.The weighted average interest rate on short-term borrowings outstanding was 0.8% and 0.9% as of June 30, 2022 and December 31, 2021, respectively. The Company’s long-term debt consisted of the following:
| Year of maturity |  | Type of interest |  | Interest rate 1 | June 30, 2022 |  | December 31, 2021
Corporate |  |  |  |  |  |  |  |
5.5 billion Revolving Credit Facility | 2023 - 2025 |  |  |  |  | — |  |  | — |
€750 million Unsecured Notes | 2022 |  |  | Fixed |  | 3.13 | % | — |  |  | 551 |
€500 million Unsecured Notes | 2023 |  |  | Fixed |  | 0.95 | % | 381 |  |  | 415 |
€750 million Unsecured Notes | 2023 |  |  | Fixed |  | 1.00 | % | 778 |  |  | 848 |
€1 billion Unsecured Notes | 2024 |  |  | Fixed |  | 2.25 | % | 553 |  |  | 604 |
750 Unsecured Notes | 2024 |  |  | Fixed |  | 3.60 | % | 289 |  |  | 289 |
500 Unsecured Notes | 2025 |  |  | Fixed |  | 6.13 | % | 183 |  |  | 183 |
€750 million Unsecured Notes | 2025 |  |  | Fixed |  | 1.75 | % | 775 |  |  | 844 |
750 Unsecured Notes | 2026 |  |  | Fixed |  | 4.55 | % | 399 |  |  | 399 |
500 Unsecured Notes | 2029 |  |  | Fixed |  | 4.25 | % | 495 |  |  | 494 |
1.5 billion Unsecured Bonds | 2039 |  |  | Fixed |  | 7.00 | % | 671 |  |  | 671 |
1 billion Unsecured Notes | 2041 |  |  | Fixed |  | 6.75 | % | 428 |  |  | 428 |
EIB loan | 2032 |  |  | Floating |  | 1.56 | % | 291 |  |  | — |
EIB loan | 2025 |  |  | Fixed |  | 1.16 | % | 167 |  |  | 215 |
Schuldschein loans | 2025-2027 |  | Fixed/Floating |  | 1.5% - 3.0% | 753 |  |  | — |
Other loans | 2023 |  |  | Fixed |  | 3.10% | 73 |  |  | 142 |
Other loans | 2029-2035 |  | Floating |  | 0.6% - 2.3% | 247 |  |  | 273 |
Total Corporate |  |  |  |  |  | 6,483 |  |  | 6,356 |
Americas |  |  |  |  |  |  |  |
Other loans | 2022 - 2030 |  | Fixed/Floating |  | 0.0% - 10.7% | 65 |  |  | 72 |
Total Americas |  |  |  |  |  | 65 |  |  | 72 |
Europe, Asia & Africa |  |  |  |  |  |  |  |
EBRD Facility | 2024 |  |  | Floating |  | 4.2% - 4.5% | 59 |  |  | 82 |
Other loans | 2022 - 2029 |  | Fixed/Floating |  | 0.0% - 5.6% | 127 |  |  | 123 |
Total Europe, Asia & Africa |  |  |  |  |  | 186 |  |  | 205 |
Total |  |  |  |  |  | 6,734 |  |  | 6,633 |
Less current portion of long-term debt |  |  |  |  |  | (1,373) |  |  | (836) |
Total long-term debt (excluding lease obligations) |  |  |  |  |  | 5,361 |  |  | 5,797 |
Long-term lease obligations 2 |  |  |  |  |  | 708 |  |  | 691 |
Total long-term debt, net of current portion |  |  |  |  |  | 6,069 |  |  | 6,488 |
1.Rates applicable to balances outstanding at June 30, 2022, including the effect of decreases or increases following upgrades or downgrades, respectively. For debt that has been redeemed in its entirety during first half of 2022, the interest rate refers to the rates at the repayment date. 2.Net of current portion of 163 and 189 as of June 30, 2022 and December 31, 2021, respectively. See note 11 for further information regarding leases.

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