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SHORT-TERM AND LONG-TERM DEBT (Tables)
 6 Months Ended
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, 2022December 31, 2021
Short-term bank loans and other credit facilities including commercial paper1
1,183888
Current portion of long-term debt1,373836
Lease obligations163189
Total2,7191,913
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 maturityType of interest
Interest rate1
June 30, 2022December 31, 2021
Corporate
5.5 billion Revolving Credit Facility
2023 - 2025— — 
€750 million Unsecured Notes
2022 Fixed3.13 %— 551 
€500 million Unsecured Notes
2023 Fixed0.95 %381 415 
€750 million Unsecured Notes
2023 Fixed1.00 %778 848 
€1 billion Unsecured Notes
2024 Fixed2.25 %553 604 
750 Unsecured Notes
2024 Fixed3.60 %289 289 
500 Unsecured Notes
2025 Fixed6.13 %183 183 
€750 million Unsecured Notes
2025 Fixed1.75 %775 844 
750 Unsecured Notes
2026 Fixed4.55 %399 399 
500 Unsecured Notes
2029 Fixed4.25 %495 494 
1.5 billion Unsecured Bonds
2039 Fixed7.00 %671 671 
1 billion Unsecured Notes
2041 Fixed6.75 %428 428 
EIB loan2032 Floating1.56 %291 — 
EIB loan2025 Fixed1.16 %167 215 
Schuldschein loans2025-2027Fixed/Floating
1.5% - 3.0%
753 — 
Other loans2023 Fixed
3.10%
73 142 
Other loans2029-2035Floating
0.6% - 2.3%
247 273 
Total Corporate6,483 6,356 
Americas
Other loans2022 - 2030Fixed/Floating
0.0% - 10.7%
65 72 
Total Americas65 72 
Europe, Asia & Africa
EBRD Facility2024 Floating
4.2% - 4.5%
59 82 
Other loans2022 - 2029Fixed/Floating
0.0% - 5.6%
127 123 
Total Europe, Asia & Africa186 205 
Total6,734 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 obligations2
708 691 
Total long-term debt, net of current portion6,069 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.