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Short-Term Borrowings and Long-Term Debt (Notes) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Short-Term Borrowings and Long-Term Debt [Text Block] | Short-Term Borrowings and Long-Term Debt Short-term borrowings and senior unsecured long-term debt consisted of commercial paper and notes as follows:
|  | Carrying Value as of December 31, |  |  |  | Carrying Value as of December 31,
(in millions, except percentages) |  | 2024 |  | 2023 |  | (continued) |  | 2024 |  | 2023
Commercial paper |  | $ | 1,300 |  |  | $ | 1,088 |  |  | $1,000 4.625%, Jul 2035 |  | 971 |  |  | 1,014 |
$750 3.5%, Feb 2024 |  | — |  |  | 750 |  |  | $850 5.8%, Mar 2036 |  | 838 |  |  | 838 |
$1,000 0.55%, May 2024 |  | — |  |  | 999 |  |  | $500 6.5%, Jun 2037 |  | 492 |  |  | 491 |
$750 2.375%, Aug 2024 |  | — |  |  | 750 |  |  | $650 6.625%, Nov 2037 |  | 641 |  |  | 640 |
$500 5%, Oct 2024 |  | — |  |  | 499 |  |  | $1,100 6.875%, Feb 2038 |  | 1,079 |  |  | 1,078 |
$2,000 3.75%, Jul 2025 |  | 1,999 |  |  | 1,997 |  |  | $1,250 3.5%, Aug 2039 |  | 1,243 |  |  | 1,242 |
$750 5.15%, Oct 2025 |  | 749 |  |  | 748 |  |  | $1,000 2.75%, May 2040 |  | 970 |  |  | 968 |
$300 3.7%, Dec 2025 |  | 300 |  |  | 299 |  |  | $300 5.7%, Oct 2040 |  | 296 |  |  | 296 |
$500 1.25%, Jan 2026 |  | 499 |  |  | 498 |  |  | $350 5.95%, Feb 2041 |  | 346 |  |  | 346 |
$1,000 3.1%, Mar 2026 |  | 999 |  |  | 998 |  |  | $1,500 3.05%, May 2041 |  | 1,485 |  |  | 1,484 |
$1,000 1.15%, May 2026 |  | 953 |  |  | 924 |  |  | $600 4.625%, Nov 2041 |  | 590 |  |  | 590 |
$500 floating rate, Jul 2026 |  | 499 |  |  | — |  |  | $502 4.375%, Mar 2042 |  | 487 |  |  | 486 |
$650 4.75%, Jul 2026 |  | 648 |  |  | — |  |  | $625 3.95%, Oct 2042 |  | 610 |  |  | 609 |
$750 3.45%, Jan 2027 |  | 749 |  |  | 748 |  |  | $750 4.25%, Mar 2043 |  | 737 |  |  | 736 |
$500 4.6%, Apr 2027 |  | 496 |  |  | — |  |  | $1,500 5.5%, Jul 2044 |  | 1,475 |  |  | — |
$625 3.375%, Apr 2027 |  | 623 |  |  | 622 |  |  | $2,000 4.75%, Jul 2045 |  | 1,976 |  |  | 1,975 |
$600 3.7%, May 2027 |  | 598 |  |  | 598 |  |  | $750 4.2%, Jan 2047 |  | 739 |  |  | 739 |
$950 2.95%, Oct 2027 |  | 946 |  |  | 944 |  |  | $725 4.25%, Apr 2047 |  | 718 |  |  | 718 |
$1,000 5.25%, Feb 2028 |  | 998 |  |  | 1,011 |  |  | $950 3.75%, Oct 2047 |  | 935 |  |  | 935 |
$1,150 3.85%, Jun 2028 |  | 1,147 |  |  | 1,146 |  |  | $1,350 4.25%, Jun 2048 |  | 1,332 |  |  | 1,331 |
$850 3.875%, Dec 2028 |  | 847 |  |  | 846 |  |  | $1,100 4.45%, Dec 2048 |  | 1,087 |  |  | 1,087 |
$1,250 4.25%, Jan 2029 |  | 1,221 |  |  | 1,238 |  |  | $1,250 3.7%, Aug 2049 |  | 1,237 |  |  | 1,236 |
$400 4.7%, Apr 2029 |  | 398 |  |  | — |  |  | $1,250 2.9%, May 2050 |  | 1,212 |  |  | 1,211 |
$900 4%, May 2029 |  | 854 |  |  | 862 |  |  | $2,000 3.25%, May 2051 |  | 1,972 |  |  | 1,972 |
$1,000 2.875%, Aug 2029 |  | 902 |  |  | 908 |  |  | $2,000 4.75%, May 2052 |  | 1,966 |  |  | 1,966 |
$1,250 4.8%, Jan 2030 |  | 1,225 |  |  | — |  |  | $2,000 5.875%, Feb 2053 |  | 1,968 |  |  | 1,968 |
$1,250 5.3%, Feb 2030 |  | 1,243 |  |  | 1,275 |  |  | $2,000 5.05%, Apr 2053 |  | 1,969 |  |  | 1,969 |
$1,250 2%, May 2030 |  | 1,240 |  |  | 1,238 |  |  | $1,750 5.375%, Apr 2054 |  | 1,729 |  |  | — |
$1,000 4.9%, Apr 2031 |  | 982 |  |  | — |  |  | $2,750 5.625%, Jul 2054 |  | 2,724 |  |  | — |
$1,500 2.3%, May 2031 |  | 1,271 |  |  | 1,290 |  |  | $1,250 3.875%, Aug 2059 |  | 1,229 |  |  | 1,229 |
$1,500 4.95%, Jan 2032 |  | 1,489 |  |  | — |  |  | $1,000 3.125%, May 2060 |  | 967 |  |  | 966 |
$1,500 4.2%, May 2032 |  | 1,372 |  |  | 1,412 |  |  | $1,000 4.95%, May 2062 |  | 981 |  |  | 981 |
$2,000 5.35%, Feb 2033 |  | 1,966 |  |  | 2,046 |  |  | $1,500 6.05%, Feb 2063 |  | 1,466 |  |  | 1,466 |
$1,500 4.5%, Apr 2033 |  | 1,410 |  |  | 1,463 |  |  | $1,750 5.2%, Apr 2063 |  | 1,710 |  |  | 1,709 |
$1,250 5%, Apr 2034 |  | 1,214 |  |  | — |  |  | $1,100 5.5%, Apr 2064 |  | 1,085 |  |  | — |
$2,000 5.15%, Jul 2034 |  | 1,959 |  |  | — |  |  | $1,850 5.75%, Jul 2064 |  | 1,822 |  |  | — |
|  |  |  |  |  | Total short-term borrowings and long-term debt |  | $ | 76,180 |  |  | $ | 61,473 |
The Company’s long-term debt obligations also included $0.7 billion and $1.1 billion of other financing obligations, of which $197 million and $188 million were current as of December 31, 2024 and 2023, respectively. Maturities of short-term borrowings and long-term debt for the years ending December 31 are as follows:
(in millions) |  |
2025 |  | $ | 4,548 |
2026 |  | 3,756 |
2027 |  | 3,531 |
2028 |  | 3,106 |
2029 |  | 3,656 |
Thereafter |  | 59,908 |
Short-Term Borrowings Commercial paper consists of short-duration, senior unsecured debt privately placed on a discount basis through broker-dealers. As of December 31, 2024, the Company’s outstanding commercial paper had a weighted-average annual interest rate of 4.4%. The Company has $7.0 billion five-year, $7.0 billion three-year and $7.0 billion 364-day revolving bank credit facilities with 26 banks, which mature in December 2029, December 2027 and December 2025, respectively. These facilities provide full liquidity support for the Company’s commercial paper program and are available for general corporate purposes. As of December 31, 2024, no amounts had been drawn on any of the bank credit facilities. The annual interest rates, which are variable based on term, are calculated based on one-month term Secured Overnight Financing Rate (SOFR) plus a SOFR Adjustment of 10 basis points plus a credit spread based on the Company’s senior unsecured credit ratings. If amounts had been drawn on the bank credit facilities as of December 31, 2024, annual interest rates would have ranged from 4.9% to 7.5%. Debt Covenants As of December 31, 2024, the Company was in compliance with the various covenants under its bank credit facilities.

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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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