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DEBT AND FINANCING ARRANGEMENTS (Tables) | 9 Months Ended
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Sep. 30, 2021
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | The carrying value of our outstanding debt obligations as of September 30, 2021 and December 31, 2020 consists of the following (in millions):
| Principal Amount |  |  |  | Carrying Value |  |  |  |  |  |  |  |
|  | Maturity |  | 2021 |  | 2020 |  |  |  |  |  |  |  |
Commercial paper | $ | — |  |  |  |  | $ | — |  |  | $ | 15 |  |  |  |  |  |  |  |  |
Fixed-rate senior notes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
3.125% senior notes | — |  |  | 2021 |  | — |  |  | 1,507 |  |  |  |  |  |  |  |  |
2.050% senior notes | — |  |  | 2021 |  | — |  |  | 700 |  |  |  |  |  |  |  |  |
2.450% senior notes | 1,000 |  |  | 2022 |  | 1,016 |  |  | 1,028 |  |  |  |  |  |  |  |  |
2.350% senior notes | 600 |  |  | 2022 |  | 600 |  |  | 599 |  |  |  |  |  |  |  |  |
2.500% senior notes | 1,000 |  |  | 2023 |  | 998 |  |  | 997 |  |  |  |  |  |  |  |  |
2.800% senior notes | 500 |  |  | 2024 |  | 498 |  |  | 498 |  |  |  |  |  |  |  |  |
2.200% senior notes | 400 |  |  | 2024 |  | 399 |  |  | 398 |  |  |  |  |  |  |  |  |
3.900% senior notes | 1,000 |  |  | 2025 |  | 996 |  |  | 995 |  |  |  |  |  |  |  |  |
2.400% senior notes | 500 |  |  | 2026 |  | 498 |  |  | 498 |  |  |  |  |  |  |  |  |
3.050% senior notes | 1,000 |  |  | 2027 |  | 994 |  |  | 993 |  |  |  |  |  |  |  |  |
3.400% senior notes | 750 |  |  | 2029 |  | 746 |  |  | 746 |  |  |  |  |  |  |  |  |
2.500% senior notes | 400 |  |  | 2029 |  | 397 |  |  | 397 |  |  |  |  |  |  |  |  |
4.450% senior notes | 750 |  |  | 2030 |  | 743 |  |  | 743 |  |  |  |  |  |  |  |  |
6.200% senior notes | 1,500 |  |  | 2038 |  | 1,484 |  |  | 1,483 |  |  |  |  |  |  |  |  |
5.200% senior notes | 500 |  |  | 2040 |  | 494 |  |  | 493 |  |  |  |  |  |  |  |  |
4.875% senior notes | 500 |  |  | 2040 |  | 491 |  |  | 490 |  |  |  |  |  |  |  |  |
3.625% senior notes | 375 |  |  | 2042 |  | 368 |  |  | 368 |  |  |  |  |  |  |  |  |
3.400% senior notes | 500 |  |  | 2046 |  | 492 |  |  | 491 |  |  |  |  |  |  |  |  |
3.750% senior notes | 1,150 |  |  | 2047 |  | 1,137 |  |  | 1,137 |  |  |  |  |  |  |  |  |
4.250% senior notes | 750 |  |  | 2049 |  | 743 |  |  | 742 |  |  |  |  |  |  |  |  |
3.400% senior notes | 700 |  |  | 2049 |  | 688 |  |  | 688 |  |  |  |  |  |  |  |  |
5.300% senior notes | 1,250 |  |  | 2050 |  | 1,231 |  |  | 1,231 |  |  |  |  |  |  |  |  |
Floating-rate senior notes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Floating-rate senior notes | — |  |  | 2021 |  | — |  |  | 350 |  |  |  |  |  |  |  |  |
Floating-rate senior notes | 400 |  |  | 2022 |  | 400 |  |  | 399 |  |  |  |  |  |  |  |  |
Floating-rate senior notes | 500 |  |  | 2023 |  | 500 |  |  | 499 |  |  |  |  |  |  |  |  |
Floating-rate senior notes | 1,039 |  |  | 2049-2067 |  | 1,027 |  |  | 1,027 |  |  |  |  |  |  |  |  |
Debentures: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
7.620% debentures(1) | 276 |  |  | 2030 |  | 280 |  |  | 281 |  |  |  |  |  |  |  |  |
Pound Sterling Notes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
5.500% notes | 89 |  |  | 2031 |  | 88 |  |  | 90 |  |  |  |  |  |  |  |  |
5.125% notes | 612 |  |  | 2050 |  | 581 |  |  | 586 |  |  |  |  |  |  |  |  |
Euro Senior Notes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
0.375% senior notes | 811 |  |  | 2023 |  | 808 |  |  | 857 |  |  |  |  |  |  |  |  |
1.625% senior notes | 811 |  |  | 2025 |  | 807 |  |  | 856 |  |  |  |  |  |  |  |  |
1.000% senior notes | 579 |  |  | 2028 |  | 576 |  |  | 611 |  |  |  |  |  |  |  |  |
1.500% senior notes | 579 |  |  | 2032 |  | 575 |  |  | 611 |  |  |  |  |  |  |  |  |
Canadian senior notes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2.125% senior notes | 588 |  |  | 2024 |  | 586 |  |  | 583 |  |  |  |  |  |  |  |  |
Finance lease obligations | 542 |  |  | 2021-2062 |  | 542 |  |  | 342 |  |  |  |  |  |  |  |  |
Facility notes and bonds | 320 |  |  | 2029-2045 |  | 320 |  |  | 320 |  |  |  |  |  |  |  |  |
Other debt | 3 |  |  | 2021-2025 |  | 3 |  |  | 5 |  |  |  |  |  |  |  |  |
Total debt | $ | 22,274 |  |  |  |  | 22,106 |  |  | 24,654 |  |  |  |  |  |  |  |  |
Less: current maturities |  |  |  |  | (1,268) |  |  | (2,623) |  |  |  |  |  |  |  |  |
Long-term debt |  |  |  |  | $ | 20,838 |  |  | $ | 22,031 |  |  |  |  |  |  |  |  |
(1) On April 1, 2020, the interest rate on these debentures decreased from 8.375% to 7.620% for the remaining 10 years until maturity.

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