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Long-Term Debt (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Long-term debt outstanding | The company’s long-term debt outstanding at year-end 2023 and 2022 was as follows:
|  |  |  |  |  | At December 31 |
|  |  |  |  |  | 2023 |  |  | 2022 |
|  | Weighted Average Interest Rate (%) 1 |  | Range of Interest Rates (%) 2 |  | Principal |  |  | Principal |
Notes due 2024 |  | 3.291 |  | 2.895 - 3.900 |  | $ | 1,650 |  |  | $ | 1,650 |
Notes due 2025 |  | 1.724 |  | 0.687 - 3.326 |  |  | 4,000 |  |  |  | 4,000 |
Notes due 2026 |  |  |  | 2.954 |  |  | 2,250 |  |  |  | 2,250 |
Notes due 2027 |  | 2.379 |  | 1.018 - 8.000 |  |  | 2,000 |  |  |  | 2,000 |
Notes due 2028 |  |  |  | 3.850 |  |  | 600 |  |  |  | 600 |
Notes due 2029 |  |  |  | 3.250 |  |  | 500 |  |  |  | 500 |
Notes due 2030 |  |  |  | 2.236 |  |  | 1,500 |  |  |  | 1,500 |
Debentures due 2031 |  |  |  | 8.625 |  |  | 102 |  |  |  | 102 |
Debentures due 2032 |  | 8.416 |  | 8.000 - 8.625 |  |  | 183 |  |  |  | 183 |
Notes due 2040 |  |  |  | 2.978 |  |  | 293 |  |  |  | 293 |
Notes due 2041 |  |  |  | 6.000 |  |  | 397 |  |  |  | 397 |
Notes due 2043 |  |  |  | 5.250 |  |  | 330 |  |  |  | 330 |
Notes due 2044 |  |  |  | 5.050 |  |  | 222 |  |  |  | 222 |
Notes due 2047 |  |  |  | 4.950 |  |  | 187 |  |  |  | 187 |
Notes due 2049 |  |  |  | 4.200 |  |  | 237 |  |  |  | 237 |
Notes due 2050 |  | 2.763 |  | 2.343 - 3.078 |  |  | 1,750 |  |  |  | 1,750 |
Debentures due 2097 |  |  |  | 7.250 |  |  | 60 |  |  |  | 60 |
Bank loans due 2023 |  |  |  | - |  |  | — |  |  |  | 91 |
Medium-term notes, maturing from 2023 to 2038 |  | 6.599 |  | 5.331 - 7.840 |  |  | 20 |  |  |  | 23 |
Notes due 2023 |  |  |  |  |  |  | — |  |  |  | 2,600 |
Total including debt due within one year |  |  |  |  |  |  | 16,281 |  |  |  | 18,975 |
Debt due within one year |  |  |  |  |  |  | (1,650 | ) |  |  | (2,694 | )
Fair market value adjustment for debt acquired in the Noble acquisition |  |  |  |  |  |  | 578 |  |  |  | 664 |
Reclassified from short-term debt |  |  |  |  |  |  | 4,543 |  |  |  | 4,050 |
Unamortized discounts and debt issuance costs |  |  |  |  |  |  | (19 | ) |  |  | (23 | )
Finance lease liabilities 3 |  |  |  |  |  |  | 574 |  |  |  | 403 |
Total long-term debt |  |  |  |  |  | $ | 20,307 |  |  | $ | 21,375 |
| 1 | Weighted-average interest rate at December 31, 2023.
| 2 | Range of interest rates at December 31, 2023.
| 3 | For details on finance lease liabilities, see Note 5 Lease Commitments .

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