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Financing arrangements
 9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Financing arrangements
Our borrowings consisted of the following (in millions):
 September 30, 2021December 31, 2020
1.25% €1,250 million notes due 2022 (1.25% 2022 euro Notes)
$1,448 $1,527 
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)
751 791 
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)
500 500 
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)
869 916 
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)
640 649 
2.20% notes due 2027 (2.20% 2027 Notes)
1,750 1,750 
3.20% notes due 2027 (3.20% 2027 Notes)
1,000 1,000 
1.65% note due 2028 (1.65% 2028 Notes)
1,250 — 
4.00% £700 million notes due 2029 (4.00% 2029 pound sterling Notes)
943 957 
2.45% notes due 2030 (2.45% 2030 Notes)
1,250 1,250 
2.30% notes due 2031 (2.30% 2031 Notes)
1,250 1,250 
2.00% notes due 2032 (2.00% 2032 Notes)
1,250 — 
6.375% notes due 2037 (6.375% 2037 Notes)
478 478 
6.90% notes due 2038 (6.90% 2038 Notes)
254 254 
6.40% notes due 2039 (6.40% 2039 Notes)
333 333 
3.15% notes due 2040 (3.15% 2040 Notes)
2,000 2,000 
5.75% notes due 2040 (5.75% 2040 Notes)
373 373 
2.80% note due 2041 (2.80% 2041 Notes)
1,150 — 
4.95% notes due 2041 (4.95% 2041 Notes)
600 600 
5.15% notes due 2041 (5.15% 2041 Notes)
729 729 
5.65% notes due 2042 (5.65% 2042 Notes)
415 415 
5.375% notes due 2043 (5.375% 2043 Notes)
185 185 
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 2,250 
4.663% notes due 2051 (4.663% 2051 Notes)
3,541 3,541 
3.00% notes due 2052 (3.00% 2052 Notes)
1,350 — 
2.77% notes due 2053 (2.77% 2053 Notes)
940 940 
Other notes due 2097100 100 
Unamortized bond discounts, premiums and issuance costs, net(1,221)(1,188)
Fair value adjustments371 566 
Other15 5 
Total carrying value of debt37,579 32,986 
Less current portion(4,288)(91)
Total long-term debt$33,291 $32,895 
There are no material differences between the effective interest rates and coupon rates of any of our borrowings, except for the 4.563% 2048 Notes, the 4.663% 2051 Notes and the 2.77% 2053 Notes, which have effective interest rates of 6.3%, 5.6% and 5.2%, respectively.
During the three months ended September 30, 2021, we issued $5.0 billion of debt consisting of $1.25 billion of the 1.65% 2028 Notes, $1.25 billion of the 2.00% 2032 Notes, $1.15 billion of the 2.80% 2041 Notes and $1.35 billion of the 3.00% 2052 Notes. In the event of a change-in-control triggering event, as defined in the terms of the notes, we may be required to purchase all or a portion of these notes at a price equal to 101% of the principal amount of the notes plus accrued and unpaid interest. In addition, these notes may be redeemed at any time at our option, in whole or in part, at the principal amount of the notes being redeemed plus accrued and unpaid interest and a make-whole amount, which are defined by the terms of the notes. The notes may be redeemed without payment of make-whole amounts if redemption occurs during a specified period of time immediately prior to the maturing of the notes. Such time periods range from two months to six months prior to maturity.
During the three months ended June 30, 2021, we entered into the following interest rate swap contracts: (i) $1.0 billion notional amount with respect to the 2.45% 2030 Notes, resulting in an effective interest rate of three-month LIBOR plus 1.0% for that portion of the notes, and (ii) $500 million notional amount with respect to the 2.30% 2031 Notes, resulting in an effective interest rate of three-month LIBOR plus 0.8% for that portion of the notes.