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Debt and Credit Facilities

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Debt and Credit Facilities

DEBT AND CREDIT FACILITIES

The following table summarizes our borrowings under various financing arrangements (in millions):

								Carrying Amount
Type of Borrowing		Issue Date		Maturity Date		Interest Rate		March 31, 2020				December 31, 2019
Senior Unsecured		November 2014		February 2020		2.35%		$	—			$	500
Senior Unsecured		September 2015		September 2020		2.55%		1,999				1,999
Senior Unsecured		March 2011		April 2021		4.50%		999				998
Senior Unsecured		December 2011		December 2021		4.40%		1,248				1,248
Senior Unsecured		September 2016		March 2022		1.95%		499				499
Senior Unsecured		September 2015		September 2022		3.25%		998				998
Senior Unsecured		September 2016		September 2023		2.50%		747				747
Senior Unsecured		March 2014		April 2024		3.70%		1,745				1,745
Senior Unsecured		November 2014		February 2025		3.50%		1,746				1,746
Senior Unsecured		September 2015		March 2026		3.65%		2,735				2,734
Senior Unsecured		September 2016		March 2027		2.95%		1,245				1,245
Senior Unsecured		September 2015		September 2035		4.60%		991				991
Senior Unsecured		September 2016		September 2036		4.00%		741				741
Senior Unsecured		December 2011		December 2041		5.65%		995				995
Senior Unsecured		March 2014		April 2044		4.80%		1,735				1,734
Senior Unsecured		November 2014		February 2045		4.50%		1,731				1,731
Senior Unsecured		September 2015		March 2046		4.75%		2,218				2,217
Senior Unsecured		September 2016		March 2047		4.15%		1,725				1,725
Total debt, net								24,097				24,593
Less current portion								1,999				2,499
Total long-term debt, net								$	22,098			$	22,094

We repaid $500 million of our senior unsecured notes upon maturity during the three months ended March 31, 2020. As of March 31, 2020 and December 31, 2019, there were no amounts outstanding under our $2.5 billion five-year revolving credit facility agreement maturing in May 2021. We are required to comply with certain covenants under our credit agreement and note indentures governing our senior notes. As of March 31, 2020, we were not in violation of any covenants.

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

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