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Debt (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Instruments [Abstract] |
Schedule of Debt | Debt consisted of the following at December 31:
|  |  |  |  | 2024 |  | 2023 |  | Effective Interest Rate
|  |  |  |  | (in millions) |  |
Senior Notes |  |  |  |  |  |  |  |  |
2024 USD Notes |  | 4.100 | % | Senior Notes due January 2028 |  | $ | 750 |  |  | $ | — |  |  | 4.262 | %
|  | 4.350 | % | Senior Notes due January 2032 |  | 1,150 |  |  | — |  |  | 4.446 | %
|  | 4.550 | % | Senior Notes due January 2035 |  | 1,100 |  |  | — |  |  | 4.633 | %
|  | 4.875 | % | Senior Notes due May 2034 |  | 1,000 |  |  | — |  |  | 5.047 | %
2023 USD Notes |  | 4.875 | % | Senior Notes due March 2028 |  | 750 |  |  | 750 |  |  | 5.003 | %
|  | 4.850 | % | Senior Notes due March 2033 |  | 750 |  |  | 750 |  |  | 4.923 | %
2022 EUR Notes 1 |  | 1.000 | % | Senior Notes due February 2029 |  | 781 |  |  | 830 |  |  | 1.138 | %
2021 USD Notes |  | 2.000 | % | Senior Notes due November 2031 |  | 750 |  |  | 750 |  |  | 2.112 | %
|  | 1.900 | % | Senior Notes due March 2031 |  | 600 |  |  | 600 |  |  | 1.981 | %
|  | 2.950 | % | Senior Notes due March 2051 |  | 700 |  |  | 700 |  |  | 3.013 | %
2020 USD Notes |  | 3.300 | % | Senior Notes due March 2027 |  | 1,000 |  |  | 1,000 |  |  | 3.420 | %
|  | 3.350 | % | Senior Notes due March 2030 |  | 1,500 |  |  | 1,500 |  |  | 3.430 | %
|  | 3.850 | % | Senior Notes due March 2050 |  | 1,500 |  |  | 1,500 |  |  | 3.896 | %
2019 USD Notes |  | 2.950 | % | Senior Notes due June 2029 |  | 1,000 |  |  | 1,000 |  |  | 3.030 | %
|  | 3.650 | % | Senior Notes due June 2049 |  | 1,000 |  |  | 1,000 |  |  | 3.689 | %
|  | 2.000 | % | Senior Notes due March 2025 |  | 750 |  |  | 750 |  |  | 2.147 | %
2018 USD Notes |  | 3.500 | % | Senior Notes due February 2028 |  | 500 |  |  | 500 |  |  | 3.598 | %
|  | 3.950 | % | Senior Notes due February 2048 |  | 500 |  |  | 500 |  |  | 3.990 | %
2016 USD Notes |  | 2.950 | % | Senior Notes due November 2026 |  | 750 |  |  | 750 |  |  | 3.044 | %
|  | 3.800 | % | Senior Notes due November 2046 |  | 600 |  |  | 600 |  |  | 3.893 | %
2015 EUR Notes 2 |  | 2.100 | % | Senior Notes due December 2027 |  | 833 |  |  | 885 |  |  | 2.189 | %
|  | 2.500 | % | Senior Notes due December 2030 |  | 156 |  |  | 166 |  |  | 2.562 | %
2014 USD Notes |  | 3.375 | % | Senior Notes due April 2024 |  | — |  |  | 1,000 |  |  | 3.484 | %
Other Debt |  |  |  |  |  |  |  |  |
2023 INR Term Loan 3 |  | 9.430 | % | Term Loan due July 2024 |  | — |  |  | 338 |  |  | 9.780 | %
|  |  |  |  | 18,420 |  |  | 15,869 |  |  |
Less: Unamortized discount and debt issuance costs |  | (131) |  |  | (109) |  |  |
Less: Cumulative hedge accounting fair value adjustments 4 |  | (63) |  |  | (79) |  |  |
Total debt outstanding |  | 18,226 |  |  | 15,681 |  |  |
Less: Short-term debt 5 |  | (750) |  |  | (1,337) |  |  |
Long-term debt |  | $ | 17,476 |  |  | $ | 14,344 |  |  |
1€750 million euro-denominated debt issued in February 2022. 2€950 million euro-denominated debt remaining of the €1.650 billion issued in December 2015. 3 INR28.1 billion Indian rupee-denominated loan issued in July 2023. 4 The Company has an interest rate swap that is accounted for as a fair value hedge. See Note 23 (Derivative and Hedging Instruments) for additional information. 5 The 2019 USD Notes due March 2025 are classified as short-term debt, net of unamortized discount and debt issuance costs, on the consolidated balance sheets as of December 31, 2024. As of December 31, 2023, the 2014 USD Notes due April 2024 and the INR Term Loan due July 2024 were classified as short-term debt, net of unamortized discount and debt issuance costs, on the consolidated balance sheets.
Schedule of Maturities of Long-term Debt | Scheduled annual maturities of the principal portion of debt outstanding at December 31, 2024 are summarized below.
|  | (in millions)
2025 |  | $ | 750 |
2026 |  | 750 |
2027 |  | 1,833 |
2028 |  | 2,000 |
2029 |  | 1,781 |
Thereafter |  | 11,306 |
Total |  | $ | 18,420 |

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