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Long-Term Debt (Tables)

12 Months Ended

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 liabilities3							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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- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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