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Short-Term Borrowings and Long-Term Debt (Notes) | 9 Months Ended
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Sep. 30, 2024
Debt Disclosure [Abstract] |
Debt Disclosure | Short-Term Borrowings and Long-Term Debt In March 2024, the Company issued $6.0 billion of senior unsecured notes consisting of the following:
(in millions, except percentages) |  | Par Value
4.600% notes due April 2027 |  | $ | 500 |
4.700% notes due April 2029 |  | 400 |
4.900% notes due April 2031 |  | 1,000 |
5.000% notes due April 2034 |  | 1,250 |
5.375% Notes due April 2054 |  | 1,750 |
5.500% Notes due April 2064 |  | 1,100 |
In July 2024, the Company issued $12.0 billion of senior unsecured notes consisting of the following:
(in millions, except percentages) |  | Par Value
Floating rate notes due July 2026 |  | $ | 500 |
4.750% notes due July 2026 |  | 650 |
4.800% notes due January 2030 |  | 1,250 |
4.950% notes due January 2032 |  | 1,500 |
5.150% notes due July 2034 |  | 2,000 |
5.500% notes due July 2044 |  | 1,500 |
5.625% notes due July 2054 |  | 2,750 |
5.750% notes due July 2064 |  | 1,850 |
As of September 30, 2024, the Company had $1.2 billion of commercial paper outstanding, with a weighted-average annual interest rate of 5.4%. In May 2024, the Company entered into an additional $3 billion 364-day revolving bank credit facility and a $5 billion 364-day delayed draw term loan. The $5 billion 364-day delayed draw term loan was terminated in September 2024. As of September 30, 2024 no amount had been drawn on any of the bank credit facilities. For more information on the Company’s short-term borrowings, debt covenants and long-term debt, see Note 8 of Notes to the Consolidated Financial Statements included in Part II, Item 8, “Financial Statements and Supplementary Data” in the 2023 10-K.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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