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Debt and Credit Facilities
 9 Months Ended
Sep. 30, 2021
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, 2021.
In October 2021 we entered into a new revolving credit agreement that replaces our previous agreement dated August 19, 2016. The primary changes were to increase the aggregate principal amount of the facility by $750 to $2,250, extend the maturity date to October 26, 2026, increase the leverage ratio to 3.75 and provide LIBOR replacement language. On September 30, 2021 there were no borrowings outstanding under our previous credit facility or commercial paper programs.
Summary of Total DebtSeptember 2021December 2020
RateDue
Senior unsecured notes:
2.625%March 15, 2021$— $750 
1.125%November 30, 2023642 668 
0.600%December 1, 2023598 597 
3.375%May 15, 2024592 590 
0.250%December 3, 2024989 1,030 
1.150%June 15, 2025645 644 
3.375%November 1, 2025747 747 
3.500%March 15, 2026993 992 
2.125%November 30, 2027873 909 
3.650%March 7, 2028597 596 
0.750%March 1, 2029931 969 
1.950%June 15, 2030990 989 
2.625%November 30, 2030751 782 
1.000%December 3, 2031867 903 
4.100%April 1, 2043392 392 
4.375%May 15, 2044395 395 
4.625%March 15, 2046982 981 
2.900%June 15, 2050642 641 
Variable term loanNovember 10, 2023— 400 
Other25 16 
Total debt$12,651 $13,991 
Less current maturities of debt22 761 
Total long-term debt$12,629 $13,230 
September 2021December 2020
Unamortized debt issuance costs$64 $71 
Borrowing capacity on existing facilities$1,408 $2,903 
Fair value of senior unsecured notes$13,736 $15,022 
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 March 2021 we repaid $750 of senior unsecured notes with a coupon of 2.625% that were due on March 15, 2021.
In June 2021 we repaid the $400 term loan that was due on November 10, 2023.