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DEBT (Tables) | 9 Months Ended
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Sep. 30, 2021
Debt Disclosure [Abstract] |
Summary of Outstanding Debt | Outstanding debt at September 30, 2021 consists of the following (in millions):
September 30, 2021 |  | Outstanding Principal Amount |  | Unamortized Debt Discount and Debt Issuance Cost |  | Carrying Value
Current liabilities: |  |  |  |  |  |
0.8% (€1 billion) Senior Notes due March 2022 |  | $ | 1,159 |  |  | $ | (1) |  |  | $ | 1,158 |
Long-term debt: |  |  |  |  |  |
2.15% (€750 million) Senior Notes due November 2022 |  | $ | 869 |  |  | $ | (1) |  |  | $ | 868 |
2.75% Senior Notes due March 2023 |  | 500 |  |  | (1) |  |  | 499 |
2.375% (€1 billion) Senior Notes due September 2024 |  | 1,159 |  |  | (5) |  |  | 1,154 |
3.65% Senior Notes due March 2025 |  | 500 |  |  | (2) |  |  | 498 |
0.1% (€950 million) Senior Notes due March 2025 |  | 1,101 |  |  | (5) |  |  | 1,096 |
0.75% Convertible Senior Notes due May 2025 |  | 863 |  |  | (106) |  |  | 757 |
3.6% Senior Notes due June 2026 |  | 1,000 |  |  | (4) |  |  | 996 |
1.8% (€1 billion) Senior Notes due March 2027 |  | 1,159 |  |  | (3) |  |  | 1,156 |
3.55% Senior Notes due March 2028 |  | 500 |  |  | (2) |  |  | 498 |
0.5% (€750 million) Senior Notes due March 2028 |  | 869 |  |  | (5) |  |  | 864 |
4.625% Senior Notes due April 2030 |  | 1,500 |  |  | (10) |  |  | 1,490 |
Total long-term debt |  | $ | 10,020 |  |  | $ | (144) |  |  | $ | 9,876 |
Outstanding debt at December 31, 2020 consists of the following (in millions):
December 31, 2020 |  | Outstanding Principal Amount |  | Unamortized Debt Discount and Debt Issuance Cost |  | Carrying Value
Current Liabilities: |  |  |  |  |  |
0.9% Convertible Senior Notes due September 2021 |  | $ | 1,000 |  |  | $ | (15) |  |  | $ | 985 |
Long-term debt: |  |  |  |  |  |
0.8% (€1 billion) Senior Notes due March 2022 |  | $ | 1,223 |  |  | $ | (1) |  |  | $ | 1,222 |
2.15% (€750 million) Senior Notes due November 2022 |  | 919 |  |  | (4) |  |  | 915 |
2.75% Senior Notes due March 2023 |  | 500 |  |  | (1) |  |  | 499 |
2.375% (€1 billion) Senior Notes due September 2024 |  | 1,223 |  |  | (7) |  |  | 1,216 |
3.65% Senior Notes due March 2025 |  | 500 |  |  | (2) |  |  | 498 |
4.1% Senior Notes due April 2025 |  | 1,000 |  |  | (5) |  |  | 995 |
0.75% Convertible Senior Notes due May 2025 |  | 863 |  |  | (128) |  |  | 735 |
3.6% Senior Notes due June 2026 |  | 1,000 |  |  | (4) |  |  | 996 |
1.8% (€1 billion) Senior Notes due March 2027 |  | 1,223 |  |  | (2) |  |  | 1,221 |
4.5% Senior Notes due April 2027 |  | 750 |  |  | (5) |  |  | 745 |
3.55% Senior Notes due March 2028 |  | 500 |  |  | (2) |  |  | 498 |
4.625% Senior Notes due April 2030 |  | 1,500 |  |  | (11) |  |  | 1,489 |
Total long-term debt |  | $ | 11,201 |  |  | $ | (172) |  |  | $ | 11,029 |
Summary of Interest Expense | The following table summarizes the interest expenses and weighted-average effective interest rates related to the convertible senior notes (in millions, except for interest rates). The remaining period for amortization of debt discount and debt issuance costs is the period until the stated maturity date for the respective debt.
|  | For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
|  | 2021 |  | 2020 |  | 2021 |  | 2020
Coupon interest expense |  | $ | 3 |  |  | $ | 4 |  |  | $ | 11 |  |  | $ | 11 |
Amortization of debt discount and debt issuance costs |  | 12 |  |  | 13 |  |  | 36 |  |  | 42 |
Total interest expense |  | $ | 15 |  |  | $ | 17 |  |  | $ | 47 |  |  | $ | 53 |
Weighted-average effective interest rate |  | 3.9 | % |  | 3.9 | % |  | 3.7 | % |  | 3.5 | %
The following table summarizes the interest expenses related to other senior notes (in millions):
|  | For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
|  | 2021 |  | 2020 |  | 2021 |  | 2020
Coupon interest expense |  | $ | 60 |  | $ | 77 |  | $ | 198 |  | $ | 187
Amortization of debt discount and debt issuance costs |  | 2 |  | 2 |  | 8 |  | 6
Total interest expense |  | $ | 62 |  | $ | 79 |  | $ | 206 |  | $ | 193
Schedule of other senior notes | The following table summarizes the information related to other senior notes outstanding at September 30, 2021:
Other Senior Notes |  | Date of Issuance |  | Effective Interest Rate (1) |  | Timing of Interest Payments
0.8% Senior Notes due March 2022 |  | March 2017 |  | 0.94 | % |  | Annually in March
2.15% Senior Notes due November 2022 |  | November 2015 |  | 2.27 | % |  | Annually in November
2.75% Senior Notes due March 2023 |  | August 2017 |  | 2.88 | % |  | Semi-annually in March and September
2.375% Senior Notes due September 2024 |  | September 2014 |  | 2.54 | % |  | Annually in September
3.65% Senior Notes due March 2025 |  | March 2015 |  | 3.76 | % |  | Semi-annually in March and September
0.1% Senior Notes due March 2025 |  | March 2021 |  | 0.30 | % |  | Annually in March
3.6% Senior Notes due June 2026 |  | May 2016 |  | 3.70 | % |  | Semi-annually in June and December
1.8% Senior Notes due March 2027 |  | March 2015 |  | 1.86 | % |  | Annually in March
3.55% Senior Notes due March 2028 |  | August 2017 |  | 3.63 | % |  | Semi-annually in March and September
0.5% Senior Notes due March 2028 |  | March 2021 |  | 0.63 | % |  | Annually in March
4.625% Senior Notes due April 2030 |  | April 2020 |  | 4.72 | % |  | Semi-annually in April and October
(1) Represents the coupon interest rate adjusted for deferred debt issuance costs, premiums or discounts existing at the origination of the debt.

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