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Debt (Tables)
12 Months Ended
Dec. 31, 2018
Debt  
Components of Debt

The following table summarizes the major components of debt as of each balance sheet date (in millions) and provides the maturities and interest rate ranges of each major category as of December 31:

 

 

 

 

 

 

 

 

    

2018

    

2017

Revolving credit facility (weighted average interest rate of 3.1% as of December 31, 2018)

 

$

11

 

$

 —

Commercial paper program (weighted average interest rate of 2.9% as of December 31, 2018 and 1.9% as of December 31, 2017)

 

 

990

 

 

515

Canadian term loan and revolving credit facility (weighted average effective interest rate of 2.5% as of December 31, 2017)

 

 

 —

 

 

113

Senior notes, maturing through 2045, interest rates ranging from 2.4% to 7.75% (weighted average interest rate of 4.3% as of December 31, 2018 and December 31, 2017)

 

 

6,222

 

 

6,222

Tax-exempt bonds, maturing through 2048, fixed and variable interest rates ranging from 1.35% to 4.3% (weighted average interest rate of 2.35% as of December 31, 2018 and 2.0% as of December 31, 2017)

 

 

2,388

 

 

2,370

Capital leases and other, maturing through 2040, interest rates up to 12%

 

 

467

 

 

327

Debt issuance costs, discounts and other

 

 

(52)

 

 

(56)

 

 

 

10,026

 

 

9,491

Current portion of long-term debt

 

 

432

 

 

739

 

 

$

9,594

 

$

8,752