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Debt (Tables) | 12 Months Ended
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Dec. 31, 2020
Debt Disclosure [Abstract] |
Summary of Outstanding Debt | The following is a summary of outstanding debt (in millions):
As of December 31 | 2020 |  | 2019
Commercial paper | $ | — |  |  | $ | 112 |
5.00% Senior Notes due September 2020 | — |  |  | 600 |
2.80% Senior Notes due March 2021 (1) | 400 |  |  | 399 |
2.20% Senior Notes due November 2022 | 498 |  |  | 497 |
4.00% Senior Notes due November 2023 | 349 |  |  | 348 |
3.50% Senior Notes due June 2024 | 597 |  |  | 597 |
3.875% Senior Notes due December 2025 | 747 |  |  | 746 |
2.875% Senior Notes due May 2026 (EUR 500M) | 606 |  |  | 550 |
8.205% Junior Subordinated Notes due January 2027 | 521 |  |  | 521 |
4.50% Senior Notes due December 2028 | 347 |  |  | 346 |
3.75% Senior Notes due May 2029 | 744 |  |  | 744 |
2.80% Senior Notes due May 2030 | 992 |  |  | — |
6.25% Senior Notes due September 2040 | 296 |  |  | 296 |
4.25% Senior Notes due December 2042 | 200 |  |  | 199 |
4.45% Senior Notes due May 2043 | 247 |  |  | 246 |
4.60% Senior Notes due June 2044 | 544 |  |  | 544 |
4.75% Senior Notes due May 2045 | 593 |  |  | 593 |
Other | 48 |  |  | 1 |
Total debt | 7,729 |  |  | 7,339 |
Less: Short-term debt and current portion of long-term debt | 448 |  |  | 712 |
Total long-term debt | $ | 7,281 |  |  | $ | 6,627 |
(1) The 2.80% Senior Notes due March 2021 were repaid in full on February 16, 2021.
Repayments of Long-term Debt | Repayments of total debt as of December 31, 2020 are as follows (in millions):
2021 | $ | 448 |
2022 | 500 |
2023 | 350 |
2024 | 600 |
2025 | 750 |
Thereafter | 5,187 |
Total Repayments | 7,835 |
Unamortized discounts, premiums, and debt issuance costs | (106) |
Total Debt | $ | 7,729 |
Schedule of Commercial Paper | Commercial paper outstanding, which is included in Short-term debt and current portion of long-term debt in the Company’s Consolidated Statements of Financial Position, is as follows (in millions):
As of December 31 |  | 2020 |  | 2019
Commercial paper outstanding |  | $ | — |  |  | $ | 112 |
The weighted average commercial paper outstanding and its related interest rates are as follows (in millions, except percentages):
|  | Years Ended December 31
|  | 2020 |  | 2019
Weighted average commercial paper outstanding |  | $ | 343 |  |  | $ | 511 |
Weighted average interest rate of commercial paper outstanding |  | 1.47 | % |  | 0.27 | %

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