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DEBT AND CREDIT FACILITIES | 6 Months Ended
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Jun. 30, 2022
Debt Disclosure [Abstract] |
DEBT AND CREDIT FACILITIES | DEBT AND CREDIT FACILITIES The following table summarizes the carrying amount of our borrowings under various financing arrangements:
(in millions) |  | Carrying Amount
Type of Borrowing |  | Issue Date |  | Maturity Date |  | Interest Rate |  | June 30, 2022 |  | December 31, 2021
Senior Unsecured |  | September 2016 |  | March 2022 |  | 1.95% |  | $ | — |  |  | $ | 500 |
Senior Unsecured |  | September 2015 |  | September 2022 |  | 3.25% |  | 1,000 |  |  | 999 |
Senior Unsecured |  | September 2016 |  | September 2023 |  | 2.50% |  | 749 |  |  | 748 |
Senior Unsecured |  | September 2020 |  | September 2023 |  | 0.75% |  | 1,497 |  |  | 1,496 |
Senior Unsecured |  | March 2014 |  | April 2024 |  | 3.70% |  | 1,748 |  |  | 1,747 |
Senior Unsecured |  | November 2014 |  | February 2025 |  | 3.50% |  | 1,748 |  |  | 1,747 |
Senior Unsecured |  | September 2015 |  | March 2026 |  | 3.65% |  | 2,740 |  |  | 2,739 |
Senior Unsecured |  | September 2016 |  | March 2027 |  | 2.95% |  | 1,247 |  |  | 1,247 |
Senior Unsecured |  | September 2020 |  | October 2027 |  | 1.20% |  | 746 |  |  | 746 |
Senior Unsecured |  | September 2020 |  | October 2030 |  | 1.65% |  | 993 |  |  | 993 |
Senior Unsecured |  | September 2015 |  | September 2035 |  | 4.60% |  | 992 |  |  | 992 |
Senior Unsecured |  | September 2016 |  | September 2036 |  | 4.00% |  | 742 |  |  | 742 |
Senior Unsecured |  | September 2020 |  | October 2040 |  | 2.60% |  | 987 |  |  | 987 |
Senior Unsecured |  | December 2011 |  | December 2041 |  | 5.65% |  | 996 |  |  | 996 |
Senior Unsecured |  | March 2014 |  | April 2044 |  | 4.80% |  | 1,736 |  |  | 1,736 |
Senior Unsecured |  | November 2014 |  | February 2045 |  | 4.50% |  | 1,733 |  |  | 1,733 |
Senior Unsecured |  | September 2015 |  | March 2046 |  | 4.75% |  | 2,220 |  |  | 2,220 |
Senior Unsecured |  | September 2016 |  | March 2047 |  | 4.15% |  | 1,727 |  |  | 1,727 |
Senior Unsecured |  | September 2020 |  | October 2050 |  | 2.80% |  | 1,477 |  |  | 1,476 |
Total senior unsecured notes |  | 25,080 |  |  | 25,571 |
Liability related to the sale of future royalties |  | 1,136 |  |  | 1,124 |
Total debt, net |  | 26,216 |  |  | 26,695 |
Less: Current portion of long-term debt and other obligations, net |  | 1,021 |  |  | 1,516 |
Total Long-term debt, net |  | $ | 25,195 |  |  | $ | 25,179 |
Senior Unsecured Notes In February 2022, we repaid $500 million of senior unsecured notes prior to the March 2022 maturity by exercising a par call option. Additionally, in July 2022, we repaid $1.0 billion of senior unsecured notes prior to the September 2022 maturity by exercising a par call option. No new debt was issued during the three and six months ended June 30, 2022. We are required to comply with certain covenants under our note indentures governing our senior unsecured notes. As of June 30, 2022, we were not in violation of any covenants. Revolving Credit Facility As of June 30, 2022 and December 31, 2021, there were no amounts outstanding under our $2.5 billion revolving credit facility maturing in June 2025, and we were in compliance with all 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 https://asc.fasb.org/topic&trid=2208564 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1E -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 + Details
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