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Borrowings (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Debt | Debt at December 31 consisted of the following:
| 2023 |  | 2022
Short-term commercial paper borrowings | $ | 6,189.4 |  |  | $ | 1,498.0 |
Long-term notes | 19,104.6 |  |  | 14,815.3
Other long-term debt | 6.5 |  |  | 6.9 |
Unamortized debt issuance costs | (90.5) |  |  | (77.2) |
Fair value adjustment on hedged long-term notes | 15.3 |  |  | (4.4) |
Total debt | 25,225.3 |  |  | 16,238.6 |
Less current portion | (6,904.5) |  |  | (1,501.1) |
Long-term debt | $ | 18,320.8 |  |  | $ | 14,737.5 |
Summary of Long-term Notes | The following table summarizes long-term notes at December 31:
| 2023 |  | 2022 |
0.15% Swiss franc denominated notes due 2024 | $ | 714.6 |  |  | $ | 649.5 |  |
7.125% notes due 2025 | 217.5 |  |  | 217.5 |  |
2.75% notes due 2025 | 560.6 |  |  | 560.6 |  |
5.0% notes due 2026 | 750.0 |  |  | — |  |
1.625% euro denominated notes due 2026 | 830.7 |  |  | 799.3 |  |
5.5% notes due 2027 | 364.3 |  |  | 364.3 |  |
3.1% notes due 2027 | 401.5 |  |  | 401.5 |  |
0.45% Swiss franc denominated notes due 2028 | 476.4 |  |  | 433.0 |  |
3.375% notes due 2029 | 930.6 |  |  | 930.6 |  |
0.42% Japanese yen denominated notes due 2029 | 162.5 |  |  | 172.1 |  |
2.125% euro denominated notes due 2030 | 830.7 |  |  | 799.3 |  |
0.625% euro denominated notes due 2031 | 664.6 |  |  | 639.4 |  |
4.7% notes due 2033 | 1,000.0 |  |  | — |  |
0.50% euro denominated notes due 2033 | 664.6 |  |  | 639.4 |  |
0.56% Japanese yen denominated notes due 2034 | 65.8 |  |  | 69.7 |  |
6.77% notes due 2036 | 158.6 |  |  | 158.6 |  |
5.55% notes due 2037 | 444.7 |  |  | 444.7 |  |
5.95% notes due 2037 | 266.8 |  |  | 266.8 |  |
3.875% notes due 2039 | 240.3 |  |  | 240.3 |  |
1.625% British pound denominated notes due 2043 | 318.5 |  |  | 301.2 |  |
4.65% notes due 2044 | 38.3 |  |  | 38.3 |  |
3.7% notes due 2045 | 386.8 |  |  | 386.8 |  |
3.95% notes due 2047 | 347.0 |  |  | 347.0 |  |
3.95% notes due 2049 | 958.2 |  |  | 958.2 |  |
1.70% euro denominated notes due 2049 | 1,107.6 |  |  | 1,065.7 |  |
0.97% Japanese yen denominated notes due 2049 | 54.2 |  |  | 57.4 |  |
2.25% notes due 2050 | 1,250.0 |  |  | 1,250.0 |  |
1.125% euro denominated notes due 2051 | 553.8 |  |  | 532.9 |  |
4.875% notes due 2053 | 1,250.0 |  |  | — |  |
4.15% notes due 2059 | 591.3 |  |  | 591.3 |  |
2.50% notes due 2060 | 850.0 |  |  | 850.0 |  |
1.375% euro denominated notes due 2061 | 775.3 |  |  | 746.0 |  |
4.95% notes due 2063 | 1,000.0 |  |  | — |  |
Unamortized note discounts | (121.2) |  |  | (96.1) |  |
Total long-term notes | $ | 19,104.6 |  |  | $ | 14,815.3 |  |
Schedule of Maturities of Long-term Debt | The aggregate amounts of maturities on long-term debt for the next five years are as follows:
| 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028
Maturities on long-term debt | $ | 717.5 |  |  | $ | 778.1 |  |  | $ | 1,580.7 |  |  | $ | 765.8 |  |  | $ | 476.4 |
Schedule of Additional Borrowings Disclosures | The aggregate amount of cash payments for interest on borrowings, net of capitalized interest, are as follows:
| 2023 |  | 2022 |  | 2021
Cash payments for interest on borrowings | $ | 404.2 |  |  | $ | 323.7 |  |  | $ | 338.0 |

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