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Financing arrangements (Tables) | 12 Months Ended
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Dec. 31, 2017
Debt Disclosure [Abstract] |
Carrying values and the fixed contractual coupon rates of long-term borrowings | The carrying values and the fixed contractual coupon rates of our borrowings were as follows (in millions):
| December 31,
| 2017 |  | 2016
Short-term loan | $ | — |  |  | $ | 605 |
2.125% notes due 2017 (2.125% 2017 Notes) | — |  |  | 1,250 |
Floating Rate Notes due 2017 | — |  |  | 600 |
1.25% notes due 2017 (1.25% 2017 Notes) | — |  |  | 850 |
5.85% notes due 2017 (5.85% 2017 Notes) | — |  |  | 1,100 |
6.15% notes due 2018 (6.15% 2018 Notes) | 500 |  |  | 500 |
4.375% €550 million notes due 2018 (4.375% 2018 euro Notes) | 653 |  |  | 577 |
5.70% notes due 2019 (5.70% 2019 Notes) | 1,000 |  |  | 1,000 |
1.90% notes due 2019 (1.90% 2019 Notes) | 700 |  |  | — |
Floating Rate Notes due 2019 | 550 |  |  | 250 |
2.20% notes due 2019 (2.20% 2019 Notes) | 1,400 |  |  | 1,400 |
2.125% €675 million notes due 2019 (2.125% 2019 euro Notes) | 810 |  |  | 710 |
4.50% notes due 2020 (4.50% 2020 Notes) | 300 |  |  | 300 |
2.125% notes due 2020 (2.125% 2020 Notes) | 750 |  |  | 750 |
Floating Rate Notes due 2020 | 300 |  |  | — |
2.20% notes due 2020 (2.20% 2020 Notes) | 700 |  |  | — |
3.45% notes due 2020 (3.45% 2020 Notes) | 900 |  |  | 900 |
4.10% notes due 2021 (4.10% 2021 Notes) | 1,000 |  |  | 1,000 |
1.85% notes due 2021 (1.85% 2021 Notes) | 750 |  |  | 750 |
3.875% notes due 2021 (3.875% 2021 Notes) | 1,750 |  |  | 1,750 |
1.25% €1,250 million notes due 2022 (1.25% 2022 euro Notes) | 1,501 |  |  | 1,315 |
2.70% notes due 2022 (2.70% 2022 Notes) | 500 |  |  | 500 |
2.65% notes due 2022 (2.65% 2022 Notes) | 1,500 |  |  | — |
3.625% notes due 2022 (3.625% 2022 Notes) | 750 |  |  | 750 |
0.41% CHF700 million bonds due 2023 (0.41% 2023 Swiss franc Bonds) | 719 |  |  | 687 |
2.25% notes due 2023 (2.25% 2023 Notes) | 750 |  |  | 750 |
3.625% notes due 2024 (3.625% 2024 Notes) | 1,400 |  |  | 1,400 |
3.125% notes due 2025 (3.125% 2025 Notes) | 1,000 |  |  | 1,000 |
2.00% €750 million notes due 2026 (2.00% 2026 euro Notes) | 901 |  |  | 789 |
2.60% notes due 2026 (2.60% 2026 Notes) | 1,250 |  |  | 1,250 |
5.50% £475 million notes due 2026 (5.50% 2026 pound sterling Notes) | 642 |  |  | 586 |
3.20% notes due 2027 (3.20% 2027 Notes) | 1,000 |  |  | — |
4.00% £700 million notes due 2029 (4.00% 2029 pound sterling Notes) | 946 |  |  | 864 |
6.375% notes due 2037 (6.375% 2037 Notes) | 552 |  |  | 552 |
6.90% notes due 2038 (6.90% 2038 Notes) | 291 |  |  | 291 |
6.40% notes due 2039 (6.40% 2039 Notes) | 466 |  |  | 466 |
5.75% notes due 2040 (5.75% 2040 Notes) | 412 |  |  | 412 |
4.95% notes due 2041 (4.95% 2041 Notes) | 600 |  |  | 600 |
5.15% notes due 2041 (5.15% 2041 Notes) | 974 |  |  | 974 |
5.65% notes due 2042 (5.65% 2042 Notes) | 487 |  |  | 487 |
5.375% notes due 2043 (5.375% 2043 Notes) | 261 |  |  | 261 |
4.40% notes due 2045 (4.40% 2045 Notes) | 2,250 |  |  | 2,250 |
4.563% notes due 2048 (4.563% 2048 Notes) | 1,415 |  |  | 1,415 |
4.663% notes due 2051 (4.663% 2051 Notes) | 3,541 |  |  | 3,541 |
Other notes due 2097 | 100 |  |  | 100 |
Unamortized bond discounts, premiums and issuance costs, net | (929 | ) |  | (936 | )
Total carrying value of debt | 35,342 |  |  | 34,596 |
Less current portion | (1,152 | ) |  | (4,403 | )
Total noncurrent debt | $ | 34,190 |  |  | $ | 30,193 |
Schedule of long-term debt instruments exchanged | The following principal amounts of each series of Old Notes were validly tendered and subsequently canceled (in millions):
|  |  |  | Principal amount exchanged
6.375% 2037 Notes |  |  |  | $ | 348 |
6.90% 2038 Notes |  |  |  | 209 |
6.40% 2039 Notes |  |  |  | 534 |
5.75% 2040 Notes |  |  |  | 288 |
5.15% 2041 Notes |  |  |  | 1,276 |
5.65% 2042 Notes |  |  |  | 763 |
5.375% 2043 Notes |  |  |  | 739 |
Schedule of interest rate derivatives | The effective interest rates on notes for which we have entered into interest rate swap contracts and the related notional amounts of these contracts were as follows (dollar amounts in millions):
|  |  |  | December 31,
|  |  |  | 2017 |  | 2016
Notes |  | Effective interest rate |  | Notional amount
1.25% 2017 Notes |  | LIBOR + 0.4% |  | $ | — |  |  | $ | 850 |
2.20% 2019 Notes |  | LIBOR + 0.6% |  | 1,400 |  |  | 1,400 |
3.45% 2020 Notes |  | LIBOR + 1.1% |  | 900 |  |  | 900 |
4.10% 2021 Notes |  | LIBOR + 1.7% |  | 1,000 |  |  | 1,000 |
3.875% 2021 Notes |  | LIBOR + 2.0% |  | 1,750 |  |  | 1,750 |
3.625% 2022 Notes |  | LIBOR + 1.6% |  | 750 |  |  | 750 |
3.625% 2024 Notes |  | LIBOR + 1.4% |  | 1,400 |  |  | — |
3.125% 2025 Notes |  | LIBOR + 0.9% |  | 1,000 |  |  | — |
2.600% 2026 Notes |  | LIBOR + 0.3% |  | 1,250 |  |  | — |
Total notional amounts |  |  |  | $ | 9,450 |  |  | $ | 6,650 |
Aggregate contractual maturities of long-term debt obligations | The aggregate contractual maturities of all borrowings due subsequent to December 31, 2017, are as follows (in millions):
Maturity date |  | Amount
2018 |  | $ | 1,153 |
2019 |  | 4,460 |
2020 |  | 2,950 |
2021 |  | 3,500 |
2022 |  | 4,251 |
Thereafter |  | 19,957 |
Total |  | $ | 36,271 |

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