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Borrowings and Lines of Credit (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Issuances of Long-Term Debt | During 2023, we had the following issuances of long-term debt and proceeds from term loan borrowings:
Date | Description of Notes | Aggregate Principal Balance (in millions) |
November 8, 2023 | 5.750% notes due 2026 (1) | $ | 1,250 |  |
| 5.750% notes due 2029 (1) | 500 |  |
| 6.000% notes due 2031 (1) | 1,000 |  |
| 6.100% notes due 2034 (1) | 1,500 |  |
| 6.400% notes due 2054 (1) | 1,750 |  |
November 7, 2023 | 18 Month term loan at 3 Month Secured Overnight Financing Rate (SOFR) plus 1.225% due 2025(1) | 2,000 |  |
| 3-Year term loan at 3 Month SOFR plus 1.225% due 2026 (1) | 2,000 |  |
February 27, 2023 | 5.000% notes due 2026 | 500 |  |
| 5.150% notes due 2033 | 1,250 |  |
| 5.375% notes due 2053 | 1,250 |  |
(1) The net proceeds received from these debt issuances and term loans, along with cash on hand, were used to fund the repayment of the Bridge Loan, which was used to fund the ASR.
Schedule of Repayments of Long-Term Debt | During 2023, we made the following repayments of long-term debt:
Date | Description of Notes | Aggregate Principal Balance (in millions)
December 15, 2023 | 3.700% notes due 2023 | $ | 400 |
August 16, 2023 | 3.650% notes due 2023 | 171 |
Schedule of Long-term Debt Instruments | Long-term debt consisted of the following as of December 31:
(dollars in millions) | 2023 |  | 2022
3.650% notes due 2023 (1) | $ | — |  |  | $ | 171 |
3.700% notes due 2023 (1) | — |  |  | 400 |
3.200% notes due 2024 (1) | 950 |  |  | 950 |
3.150% notes due 2024 (1) | 300 |  |  | 300 |
3 Month SOFR plus 1.225% term loan due 2025 | 2,000 |  |  | — |
3.950% notes due 2025 (1) | 1,500 |  |  | 1,500 |
5.000% notes due 2026 (1) | 500 |  |  | — |
2.650% notes due 2026 (1) | 719 |  |  | 719 |
3 Month SOFR plus 1.225% term loan due 2026 | 2,000 |  |  | — |
5.750% notes due 2026 (1) | 1,250 |  |  | — |
3.125% notes due 2027 (1) | 1,100 |  |  | 1,100 |
3.500% notes due 2027 (1) | 1,300 |  |  | 1,300 |
7.200% notes due 2027 (1) | 382 |  |  | 382 |
7.100% notes due 2027 | 135 |  |  | 135 |
6.700% notes due 2028 | 285 |  |  | 285 |
7.000% notes due 2028 (1) | 185 |  |  | 185 |
4.125% notes due 2028 (1) | 3,000 |  |  | 3,000 |
5.750% notes due 2029 (1) | 500 |  |  | — |
7.500% notes due 2029 (1) | 414 |  |  | 414 |
2.150% notes due 2030 (€500 million principal value) (1) | 548 |  |  | 531 |
2.250% notes due 2030 (1) | 1,000 |  |  | 1,000 |
6.000% notes due 2031 (1) | 1,000 |  |  | — |
1.900% notes due 2031 (1) | 1,000 |  |  | 1,000 |
2.375% notes due 2032 (1) | 1,000 |  |  | 1,000 |
(dollars in millions) | 2023 |  | 2022
5.150% notes due 2033 (1) | 1,250 |  |  | — |
6.100% notes due 2034 (1) | 1,500 |  |  | — |
5.400% notes due 2035 (1) | 446 |  |  | 446 |
6.050% notes due 2036 (1) | 410 |  |  | 410 |
6.800% notes due 2036 (1) | 117 |  |  | 117 |
7.000% notes due 2038 | 148 |  |  | 148 |
6.125% notes due 2038 (1) | 575 |  |  | 575 |
4.450% notes due 2038 (1) | 750 |  |  | 750 |
5.700% notes due 2040 (1) | 553 |  |  | 553 |
4.875% notes due 2040 (1) | 600 |  |  | 600 |
4.700% notes due 2041 (1) | 425 |  |  | 425 |
4.500% notes due 2042 (1) | 3,500 |  |  | 3,500 |
4.800% notes due 2043 (1) | 400 |  |  | 400 |
4.200% notes due 2044 (1) | 300 |  |  | 300 |
4.150% notes due 2045 (1) | 850 |  |  | 850 |
3.750% notes due 2046 (1) | 1,100 |  |  | 1,100 |
4.050% notes due 2047 (1) | 600 |  |  | 600 |
4.350% notes due 2047 (1) | 1,000 |  |  | 1,000 |
4.625% notes due 2048 (1) | 1,750 |  |  | 1,750 |
3.125% notes due 2050 (1) | 1,000 |  |  | 1,000 |
2.820% notes due 2051 (1) | 1,000 |  |  | 1,000 |
3.030% notes due 2052 (1) | 1,100 |  |  | 1,100 |
5.375% notes due 2053 (1) | 1,250 |  |  | — |
6.400% notes due 2054 (1) | 1,750 |  |  | — |
Other (including finance leases) | 255 |  |  | 253 |
Total principal long-term debt | 43,697 |  |  | 31,249 |
Other (fair market value adjustments, (discounts)/premiums and debt issuance costs) | (59) |  |  | 40 |
Total long-term debt | 43,638 |  |  | 31,289 |
Less: current portion | 1,283 |  |  | 595 |
Long-term debt, net of current portion | $ | 42,355 |  |  | $ | 30,694 |
(1) We may redeem these notes, in whole or in part, at our option pursuant to their terms prior to the applicable maturity date.
Schedule of Principal Payments on Long-term Debt | The schedule of principal payments required on long-term debt for the next five years and thereafter is:
(in millions) |
2024 | $ | 1,272 |
2025 | 3,593 |
2026 | 4,505 |
2027 | 2,937 |
2028 | 3,482 |
Thereafter | 27,908 |
Total | $ | 43,697 |

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