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Debt and Credit Facilities
 9 Months Ended
Sep. 30, 2020
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 September 30, 2020.
Our commercial paper program allows us to have a maximum of $1,500 in commercial paper outstanding with maturities up to 397 days from the date of issuance. On September 30, 2020 there were no amounts outstanding under our commercial paper program.
Summary of Total DebtSeptember 2020December 2019
Senior unsecured notes:
RateDue
4.375%January 15, 2020$— $500 
VariableNovember 30, 2020351 333 
2.625%March 15, 2021750 749 
1.125%November 30, 2023640 609 
3.375%May 15, 2024590 587 
0.250%December 3, 2024987 938 
1.150%June 15, 2025644 — 
3.375%November 1, 2025747 746 
3.500%March 15, 2026992 991 
2.125%November 30, 2027871 829 
3.650%March 7, 2028596 596 
0.750%March 1, 2029929 884 
1.950%June 15, 2030988 — 
2.625%November 30, 2030749 712 
1.000%December 3, 2031865 823 
4.100%April 1, 2043392 391 
4.375%May 15, 2044395 395 
4.625%March 15, 2046981 981 
2.900%June 15, 2050641 — 
Other19 26 
Total debt$13,127 $11,090 
Less current maturities of debt1,119 859 
Total long-term debt$12,008 $10,231 
September 2020December 2019
Unamortized debt issuance costs$71 $58 
Available secured borrowing capacity$2,904 $1,403 
Fair value of senior unsecured notes$14,366 $11,910 
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 2020 we repaid $500 of senior unsecured notes with a coupon of 4.375% that were due on January 15, 2020.
On April 30, 2020 we amended our primary credit facility. The principal change was to increase the leverage ratio financial covenant from 3.5:1 to 4.5:1 at the end of each fiscal quarter ending on or prior to June 30, 2021.
On April 30, 2020 we entered into a credit agreement that provides for up to $1,500 of borrowings in United States Dollars pursuant to a 364-day revolving credit facility, which matures on April 29, 2021 and is available for working capital and general corporate purposes.
In June 2020 we issued $650 of senior unsecured notes with a fixed interest rate of 1.150% due on June 15, 2025, $1,000 of senior unsecured notes with a fixed interest rate of 1.950% due on June 15, 2030 and $650 of senior unsecured notes with a fixed interest rate of 2.900% due on June 15, 2050. The 2025 and 2030 notes are subject to a special mandatory redemption feature 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.