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Debt and Credit Facilities
 6 Months Ended
Jun. 30, 2024
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 June 30, 2024.
On June 30, 2024 there were no borrowings outstanding under our revolving credit facility or our commercial paper program which allows for maturities up to 397 days from the date of issuance. The maximum amount of our commercial paper that can be outstanding at any time is $2,250.
In May 2024 we repaid the outstanding $600 principal amount of the 3.375% senior unsecured notes due May 15, 2024.
Summary of Total DebtJune 30December 31
20242023
RateDue
Senior unsecured notes:
3.375%May 15, 2024$— $600 
FloatingNovember 16, 2024536 554 
0.250%December 3, 2024910 940 
1.150%June 15, 2025649 648 
3.375%November 1, 2025749 749 
3.500%March 15, 2026997 997 
2.125%November 30, 2027801 828 
3.650%March 7, 2028598 598 
4.850%December 8, 2028595 596 
3.375%December 11, 2028640 661 
0.750%March 1, 2029854 883 
1.950%June 15, 2030993 991 
2.625%November 30, 2030690 713 
1.000%December 3, 2031796 823 
4.100%April 1, 2043393 393 
4.375%May 15, 2044396 396 
4.625%March 15, 2046983 983 
2.900%June 15, 2050642 642 
Total debt$12,222 $12,995 
Less current maturities2,095 2,094 
Total long-term debt$10,127 $10,901 
June 30December 31
20242023
Unamortized debt issuance costs$32 $50 
Borrowing capacity on existing facilities$2,159 $2,160 
Fair value of senior unsecured notes$11,253 $12,252 
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.