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v3.20.2

Borrowings and Lines of Credit (Tables) | 12 Months Ended
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Dec. 31, 2019
Debt Disclosure [Abstract] |
Short-term Debt [Table Text Block] |
(dollars in millions) | 2019 |  | 2018
Short-term borrowings: |  |  |
Commercial paper | $ | — |  |  | $ | 1,257 |
Other borrowings | 2,293 |  |  | 171 |
Total short-term borrowings | $ | 2,293 |  |  | $ | 1,428 |
Schedule of Weighted average interest rates [Table Text Block] | The weighted-average interest expense rates applicable to short-term borrowings and total debt were as follows:
| 2019 |  | 2018
Average interest expense rate - average outstanding borrowings during the year: |  |  |
Short-term borrowings | 1.7 | % |  | 1.3 | %
Total debt | 3.6 | % |  | 3.5 | %
Average interest expense rate - outstanding borrowings as of December 31: |  |  |
Short-term borrowings | 2.3 | % |  | 1.9 | %
Total debt | 3.6 | % |  | 3.5 | %
Schedule of Debt Issuances and Repayments [Table Text Block] | We had no debt issuances during 2019 and the following issuances of debt in 2018: (dollars in millions)
Issuance Date | Description of Notes | Aggregate Principal Balance
August 16, 2018: | 3.350% notes due 2021(1) | $ | 1,000 |
| 3.650% notes due 2023(1) | 2,250 |
| 3.950% notes due 2025(1) | 1,500 |
| 4.125% notes due 2028(1) | 3,000 |
| 4.450% notes due 2038(1) | 750 |
| 4.625% notes due 2048(2) | 1,750 |
| LIBOR plus 0.65% floating rate notes due 2021(1) | 750 |
May 18, 2018: | 1.150% notes due 2024(3) | € | 750 |
| 2.150% notes due 2030(3) | 500 |
| EURIBOR plus 0.20% floating rate notes due 2020(3) | 750 |
(1) The net proceeds received from these debt issuances were used to partially finance the cash consideration portion of the purchase price for Rockwell Collins and fees, expenses and other amounts related to the acquisition of Rockwell Collins. (2) The net proceeds from these debt issuances were used to fund the repayment of commercial paper and for other general corporate purposes. (3) The net proceeds received from these debt issuances were used for general corporate purposes. We made the following repayments of debt in 2019 and 2018: (dollars in millions)
Repayment Date | Description of Notes | Aggregate Principal Balance
November 15, 2019 | 8.875% notes | $ | 271 |
November 13, 2019 | EURIBOR plus 0.15% floating rate notes | € | 750 |
November 1, 2019: | LIBOR plus 0.350% floating rate notes | $ | 350 |
| 1.500% notes | $ | 650 |
July 15, 2019: | 1.950% notes(1) | $ | 300 |
| 5.250% notes(1) | $ | 300 |
December 14, 2018 | Variable-rate term loan due 2020 (1 month LIBOR plus 1.25%)(1) | $ | 482 |
May 4, 2018 | 1.778% junior subordinated notes | $ | 1,100 |
February 22, 2018 | EURIBOR plus 0.80% floating rate notes | € | 750 |
February 1, 2018 | 6.80% notes | $ | 99 |
(1) These notes and term loan were assumed in connection with the Rockwell Collins acquisition and subsequently repaid.
Schedule of Principal Payments on Long-term Debt [Table Text Block] |
(dollars in millions) |
2020 | $ | 3,258 |
2021 | 4,091 |
2022 | 3,904 |
2023 | 3,490 |
2024 | 2,592 |
Thereafter | 23,939 |
Total | $ | 41,274 |

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