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v3.20.2

Financing arrangements (Tables) | 6 Months Ended
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Jun. 30, 2020
Debt Disclosure [Abstract] |
Schedule of borrowings | Our borrowings consisted of the following (in millions):
| June 30, 2020 |  | December 31, 2019
4.50% notes due 2020 (4.50% 2020 Notes) | $ | — |  |  | $ | 300 |
2.125% notes due 2020 (2.125% 2020 Notes) | — |  |  | 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 |
4.10% notes due 2021 (4.10% 2021 Notes) | — |  |  | 1,000 |
1.85% notes due 2021 (1.85% 2021 Notes) | — |  |  | 750 |
3.875% notes due 2021 (3.875% 2021 Notes) | 1,450 |  |  | 1,750 |
1.25% €1,250 million notes due 2022 (1.25% 2022 euro Notes) | 1,404 |  |  | 1,402 |
2.70% notes due 2022 (2.70% 2022 Notes) | 500 |  |  | 500 |
2.65% notes due 2022 (2.65% 2022 Notes) | 1,500 |  |  | 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) | 739 |  |  | 725 |
2.25% notes due 2023 (2.25% 2023 Notes) | 750 |  |  | 750 |
3.625% notes due 2024 (3.625% 2024 Notes) | 1,400 |  |  | 1,400 |
1.90% notes due 2025 (1.90% 2025 Notes) | 500 |  |  | — |
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) | 843 |  |  | 841 |
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) | 589 |  |  | 630 |
2.20% notes due 2027 (2.20% 2027 Notes) | 1,750 |  |  | — |
3.20% notes due 2027 (3.20% 2027 Notes) | 1,000 |  |  | 1,000 |
4.00% £700 million notes due 2029 (4.00% 2029 pound sterling Notes) | 868 |  |  | 928 |
2.45% notes due 2030 (2.45% 2030 Notes) | 1,250 |  |  | — |
2.30% notes due 2031 (2.30% 2031 Notes) | 1,250 |  |  | — |
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 |
3.15% notes due 2040 (3.15% 2040 Notes) | 2,000 |  |  | — |
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 |
3.375% notes due 2050 (3.375% 2050 Notes) | 2,250 |  |  | — |
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 | (849) |  |  | (868) |
Fair value adjustments | 678 |  |  | 296 |
Other | 3 |  |  | — |
Total carrying value of debt | 34,224 |  |  | 29,903 |
Less current portion | (91) |  |  | (2,953) |
Total long-term debt | $ | 34,133 |  |  | $ | 26,950 |
Schedule of interest rate swaps | 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):
|  | June 30, 2020 |  |  | December 31, 2019 |
Notes |  | Notional amounts | Effective interest rates |  | Notional amounts | Effective interest rates
3.45% 2020 Notes |  | $ | — |  | LIBOR + 1.1% |  | $ | 900 |  | LIBOR + 1.1%
4.10% 2021 Notes |  | — |  | LIBOR + 1.7% |  | 1,000 |  | LIBOR + 1.7%
3.875% 2021 Notes |  | 1,450 |  | LIBOR + 2.0% |  | 1,750 |  | LIBOR + 2.0%
3.625% 2022 Notes |  | 750 |  | LIBOR + 2.7% |  | 750 |  | LIBOR + 1.6%
3.625% 2024 Notes |  | 1,400 |  | LIBOR + 3.2% |  | 1,400 |  | LIBOR + 1.4%
3.125% 2025 Notes |  | 1,000 |  | LIBOR + 1.8% |  | 1,000 |  | LIBOR + 0.9%
2.60% 2026 Notes |  | 1,250 |  | LIBOR + 1.8% |  | 1,250 |  | LIBOR + 0.3%
4.663% 2051 Notes(1) |  | 1,500 |  | LIBOR + 2.6% |  | 1,500 |  | LIBOR + 0.0%
Total notional amounts |  | $ | 7,350 |  |  |  | $ | 9,550 |  |
____________ (1) Excludes an additional 1.5% of interest for the difference between the coupon rate paid to note holders and the fixed rate received under the interest rate swap contracts.

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