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Debt (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Outstanding Debt | The Company’s outstanding debt is as follows:
(In millions) |  | March 31, 2024 |  | December 31, 2023
Short-term: |  |  |  |
Commercial paper |  | $ | 50 |  |  | $ | — |
Current portion of long-term debt |  | 1,119 |  |  | 1,619 |
|  | $ | 1,169 |  |  | $ | 1,619 |
Long-term: |  |  |  |
Senior notes – 3.50% due 2024 |  | $ | 600 |  |  | $ | 600 |
Senior notes – 3.875% due 2024 |  | — |  |  | 1,000 |
Senior notes – 3.50% due 2025 |  | 499 |  |  | 499 |
Senior notes – 1.349% due 2026 |  | 601 |  |  | 617 |
Senior notes – 3.75% due 2026 |  | 599 |  |  | 599 |
Senior notes – 4.375% due 2029 |  | 1,499 |  |  | 1,499 |
Senior notes – 1.979% due 2030 |  | 587 |  |  | 601 |
Senior notes – 2.25% due 2030 |  | 742 |  |  | 741 |
Senior notes – 2.375% due 2031 |  | 397 |  |  | 397 |
Senior notes – 5.750% due 2032 |  | 493 |  |  | 493 |
Senior notes – 5.875% due 2033 |  | 298 |  |  | 298 |
Senior notes – 5.400% due 2033 |  | 592 |  |  | 592 |
Senior notes – 5.150% due 2034 |  | 496 |  |  | — |
Senior notes – 4.75% due 2039 |  | 496 |  |  | 496 |
Senior notes – 4.35% due 2047 |  | 494 |  |  | 494 |
Senior notes – 4.20% due 2048 |  | 593 |  |  | 593 |
Senior notes – 4.90% due 2049 |  | 1,239 |  |  | 1,239 |
Senior notes – 2.90% due 2051 |  | 346 |  |  | 346 |
Senior notes – 6.25% due 2052 |  | 491 |  |  | 491 |
Senior notes – 5.450% due 2053 |  | 591 |  |  | 591 |
Senior notes – 5.700% due 2053 |  | 988 |  |  | 988 |
Senior notes – 5.450% due 2054 |  | 494 |  |  | — |
Mortgage – 5.70% due 2035 |  | 280 |  |  | 284 |
Other |  | 4 |  |  | 5 |
|  | 13,419 |  |  | 13,463 |
Less: current portion |  | 1,119 |  |  | 1,619 |
|  | $ | 12,300 |  |  | $ | 11,844 |
Schedule of Estimated Fair Value of Significant Financial Instruments | The fair value amounts shown below are not necessarily indicative of the amounts that the Company would realize upon disposition, nor do they indicate the Company’s intent or need to dispose of the financial instrument.
| March 31, 2024 |  | December 31, 2023
(In millions) | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
Short-term debt | $ | 1,169 |  |  | $ | 1,159 |  |  | $ | 1,619 |  |  | $ | 1,610 |
Long-term debt | $ | 12,300 |  |  | $ | 11,915 |  |  | $ | 11,844 |  |  | $ | 11,723 |

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