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Debt and Credit Facilities | 12 Months Ended
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Dec. 31, 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 December 31, 2024. On December 31, 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. In September 2024 we issued $750 of 4.250% senior unsecured notes due September 11, 2029, €800 of 3.375% senior unsecured notes due September 11, 2032, $750 of 4.625% senior unsecured notes due September 11, 2034 and €600 of 3.625% senior unsecured notes due September 11, 2036. In November 2024 we repaid the outstanding €500 of floating rate senior notes and in December 2024 we repaid €850 of 0.250% senior unsecured notes. The following table summarizes our total debt at December 31:
Summary of Total Debt |  |  |
| Rate |  | Due | 2024 |  | 2023
Senior unsecured notes: |  |  |
| 3.375% |  | May 15, 2024 | $ | — |  |  | $ | 600 |
| Various |  | November 16, 2024 | — |  |  | 554 |
| 0.250% |  | December 3, 2024 | — |  |  | 940 |
| 1.150% |  | June 15, 2025 | 649 |  |  | 648 |
| 3.375% |  | November 1, 2025 | 750 |  |  | 749 |
| 3.500% |  | March 15, 2026 | 998 |  |  | 997 |
| 2.125% |  | November 30, 2027 | 777 |  |  | 828 |
| 3.650% |  | March 7, 2028 | 598 |  |  | 598 |
| 4.850% |  | December 8, 2028 | 596 |  |  | 596 |
| 3.375% |  | December 11, 2028 | 621 |  |  | 661 |
| 0.750% |  | March 1, 2029 | 828 |  |  | 883 |
| 4.250% |  | September 11, 2029 | 743 |  |  | — |
| 1.950% |  | June 15, 2030 | 993 |  |  | 991 |
| 2.625% |  | November 30, 2030 | 669 |  |  | 713 |
| 1.000% |  | December 3, 2031 | 772 |  |  | 823 |
| 3.375% |  | September 11, 2032 | 824 |  |  | — |
| 4.625% |  | September 11, 2034 | 740 |  |  | — |
| 3.625% |  | September 11, 2036 | 613 |  |  | — |
| 4.100% |  | April 1, 2043 | 393 |  |  | 393 |
| 4.375% |  | May 15, 2044 | 396 |  |  | 396 |
| 4.625% |  | March 15, 2046 | 984 |  |  | 983 |
| 2.900% |  | June 15, 2050 | 643 |  |  | 642 |
Other | 10 |  |  | — |
Total debt | $ | 13,597 |  |  | $ | 12,995 |
Less current maturities | 1,409 |  |  | 2,094 |
Total long-term debt | $ | 12,188 |  |  | $ | 10,901 |
Unamortized debt issuance costs | $ | 63 |  |  | $ | 50 |
Borrowing capacity on existing facilities | $ | 2,160 |  |  | $ | 2,160 |
Fair value of senior unsecured notes | $ | 12,780 |  |  | $ | 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. Interest expense on outstanding debt and credit facilities, including required fees incurred, that were included in other income (expense), net, totaled $396, $356, and $337 in 2024, 2023 and 2022.

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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://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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