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Debt and Credit Facilities | 12 Months Ended
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Dec. 31, 2019
Long-term Debt, Unclassified [Abstract] |
Debt And Credit Facilities | DEBT AND CREDIT FACILITIES We have lines of credit issued by various financial institutions that are available to fund our day-to-day operating needs. Certain of our credit facilities require us to comply with financial and other covenants. We were in compliance with all covenants on December 31, 2019. Our commercial paper program allows us to have a maximum of $1,500 in commercial paper outstanding with maturities up to 397 days from the date of issuance. On December 31, 2019 there were no amounts outstanding under our commercial paper program.
Summary of Total Debt
|  | 2019 |  | 2018
Senior unsecured notes: |  |  |  |
| Rate |  | Due |  |  |  |
| 1.800% |  | January 15, 2019 | $ | — |  |  | $ | 500 |
| 2.000% |  | March 8, 2019 | — |  |  | 750 |
| 4.375% |  | January 15, 2020 | 500 |  |  | 499 |
| Variable |  | November 30, 2020 | 333 |  |  | 343 |
| 2.625% |  | March 15, 2021 | 749 |  |  | 747 |
| 1.125% |  | November 30, 2023 | 609 |  |  | 627 |
| 3.375% |  | May 15, 2024 | 587 |  |  | 584 |
| 0.250% |  | December 3, 2024 | 938 |  |  | — |
| 3.375% |  | November 1, 2025 | 746 |  |  | 746 |
| 3.500% |  | March 15, 2026 | 991 |  |  | 990 |
| 2.125% |  | November 30, 2027 | 829 |  |  | 853 |
| 3.650% |  | March 7, 2028 | 596 |  |  | 595 |
| 0.750% |  | March 1, 2029 | 884 |  |  | — |
| 2.625% |  | November 30, 2030 | 712 |  |  | 733 |
| 1.000% |  | December 3, 2031 | 823 |  |  | — |
| 4.100% |  | April 1, 2043 | 391 |  |  | 391 |
| 4.375% |  | May 15, 2044 | 395 |  |  | 395 |
| 4.625% |  | March 15, 2046 | 981 |  |  | 980 |
Other |  | 26 |  |  | 126 |
Total debt |  | $ | 11,090 |  |  | $ | 9,859 |
Less current maturities |  | 859 |  |  | 1,373 |
Total long-term debt |  | $ | 10,231 |  |  | $ | 8,486 |
|  | 2019 |  | 2018
Unamortized debt issuance costs | $ | 58 |  |  | $ | 50 |
Borrowing capacity on existing facilities | $ | 1,546 |  |  | $ | 1,548 |
Fair value of senior unsecured notes | $ | 11,910 |  |  | $ | 9,746 |
The fair value of the senior unsecured notes was estimated using quoted interest rates, maturities and amounts of borrowings based on quoted active market prices and yields that took into account the underlying terms of the debt instruments. Substantially all of our debt is classified within Level 2 of the fair value hierarchy. In January 2019 we repaid $500 of senior unsecured notes with a coupon of 1.800% that were due on January 15, 2019. In March 2019 we repaid $750 of senior unsecured notes with a coupon of 2.000% that were due on March 8, 2019. In December 2019 we issued €850 of senior unsecured notes with a fixed interest rate of 0.250% due on December 3, 2024, €800 of senior unsecured notes with a fixed interest rate of 0.750% due on March 1, 2029 and €750 of senior unsecured notes with a fixed interest rate of 1.000% due on December 3, 2031. Our annual interest expense arising from the issuance of the 2029 notes will be reduced by the benefit from the cash flow hedges that were terminated in conjunction with the issuance. Refer to Note 4 for further information. The 2024 and 2031 notes are subject to a Special Mandatory Redemption in which we will be required to redeem the notes in whole at a price equal to 101% of the aggregate principal amount plus accrued and unpaid interest if we do not consummate the Wright tender offer on or before February 4, 2021. In January 2020 we repaid $500 of senior unsecured notes with a coupon of 4.375% that were due on January 15, 2020. Interest expense, including required fees incurred on outstanding debt and credit facilities that were included in other expense, totaled $287, $264, and $247 in 2019, 2018 and 2017.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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- References No definition available. + Details
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